Can Casinos Go Bankrupt Because of Player Wins?

[cabron]

And when a player wins a big amount they can delay payment with the excuse of investigating the win while at the same time waiting for other players to lose to accumulate money to pay their winner, the casino always has an edge if they have big users and VIPs they are not just going to go down because of player wins, it seldom that casinos have 2 or 3 winners of 5 or 6 digits and if they cannot keep up anymore they will just scam their winners

It won't happen again. Almost all of casino is now having limitation for how much max win that can be won by its users. Casino will try to consider its liquidity first before try to put how big maximum price that can be taken by its winner.
I think that if it's an old problem. I rarely saw it happen in the past. Even if there was such case and casino may not fully paid its winner.

I meant i never heard casino goes bankrupt due to pay winner of its jackpot.

But casinos not paying the jackpot winner occurs all the time. The newly launched casino that has a limited bankroll can go bankrupt when they all exert all their funds into marketing that never work. A ton of them just close shops after a year of struggling.

If this user https://bitcointalk.org/index.php?topic=5458169 will try his method on the new sports betting like Betfury, the casino might really find a way to suspend his account and accuse him of cheating.

[Eureka_07]

<snip>
But casinos not paying the jackpot winner occurs all the time. The newly launched casino that has a limited bankroll can go bankrupt when they all exert all their funds into marketing that never work. A ton of them just close shops after a year of struggling.
<snip.>

That's true. Some operators allocate funds wrongly. Some are are eager to advertise their casino to the extent that they add extra funds for it without having the right strategy to execute the project. This becomes one reason for the casino to start crumbling and eventually go bankrupt. A casino that doesn't pay for big wins will also eventually lose its reputation as well as its players.

[dimonstration]

<snip>
But casinos not paying the jackpot winner occurs all the time. The newly launched casino that has a limited bankroll can go bankrupt when they all exert all their funds into marketing that never work. A ton of them just close shops after a year of struggling.
<snip.>

That's true. Some operators allocate funds wrongly. Some are are eager to advertise their casino to the extent that they add extra funds for it without having the right strategy to execute the project. This becomes one reason for the casino to start crumbling and eventually go bankrupt. A casino that doesn't pay for big wins will also eventually lose its reputation as well as its players.

It’s ironic because Betcoin.ag has a record for not paying their players that win a huge jackpot amount before in the past that ruined their reputation before. They just manage to recover their reputation after promising to have a better service under new management which really happened.

Casino is already implementing max win on all of their games to avoid being this kind of tight spot. Their bankroll is protected by this max win to limit the loss to not exceed their budget for a continuos opertation.

[molsewid]

And when a player wins a big amount they can delay payment with the excuse of investigating the win while at the same time waiting for other players to lose to accumulate money to pay their winner, the casino always has an edge if they have big users and VIPs they are not just going to go down because of player wins, it seldom that casinos have 2 or 3 winners of 5 or 6 digits and if they cannot keep up anymore they will just scam their winners

It won't happen again. Almost all of casino is now having limitation for how much max win that can be won by its users. Casino will try to consider its liquidity first before try to put how big maximum price that can be taken by its winner.
I think that if it's an old problem. I rarely saw it happen in the past. Even if there was such case and casino may not fully paid its winner.

I meant i never heard casino goes bankrupt due to pay winner of its jackpot.

yeah , casino has a huge earnings everyday. it will not go bankrupt in just a few second. it is possible maybe if 100 of people win in just a day with jackpot prize , but it will not never. algorithm will not let them win especially if that online casino is real , of course they need to earn some fund as well to operate. But again never heard casino go bankrupt.

[Japinat]

It is close to impossible because they have already budgeted for it; for example, in slot machines, they already have those funds and still can run the casino. We know that casinos are businesses, which is why they earn a profit every day, which is bigger than those who win big. The only reason a casino can go bankrupt is if someone wins big and their money is only enough to operate their casino, but that is bad management, so it is still impossible.

Yep and it rarely happens. But I think I read a thread before in this forum that someone won a jackpot prize but the casino didn't release the money and I think they come to the point that they need to talk about it in the court because of that thing. Casino earns a lot each day and it is nearly impossible to get bankrupt maybe they can hold your winning prize because of whatever reason they have but they will not go bankrupt for sure, I never heard a casino goes bankrupt because someone's win.

Yes, I managed to read something about that thread in this forum as well and I think it was a story of a man where the casino refused to give the winner the exact amount of what he had won as the casino told him that there was a glitch or some problems with the machine when in-fact it wasn't the man's fault and the casino has a responsibility to pay what they owe him. Hopefully by now that case is already close and that the court favored the man and got home with the winnings.

[famososMuertos]

If a casino hypothetically goes bankrupt, the bet-player variable is affected, but not immediately, at least online. I know of online casinos that have closed due to performance, but I have never read that a player's hit would goes bankrupt an online casino immediately.

Not so in physical casinos, where you can get several cases where players have affected the cash flow or daily payments established by the casinos, technically a casino can go bankrupt but the flow of losses at players is so great that it recovers in matter of hours.

There's a guy named Kerry Packer who managed not once but multiple times to leaves  bankrupt casinos.

[GigaBit]

And when a player wins a big amount they can delay payment with the excuse of investigating the win while at the same time waiting for other players to lose to accumulate money to pay their winner, the casino always has an edge if they have big users and VIPs they are not just going to go down because of player wins, it seldom that casinos have 2 or 3 winners of 5 or 6 digits and if they cannot keep up anymore they will just scam their winners

It won't happen again. Almost all of casino is now having limitation for how much max win that can be won by its users. Casino will try to consider its liquidity first before try to put how big maximum price that can be taken by its winner.
I think that if it's an old problem. I rarely saw it happen in the past. Even if there was such case and casino may not fully paid its winner.

I meant i never heard casino goes bankrupt due to pay winner of its jackpot.

yeah , casino has a huge earnings everyday. it will not go bankrupt in just a few second. it is possible maybe if 100 of people win in just a day with jackpot prize , but it will not never. algorithm will not let them win especially if that online casino is real , of course they need to earn some fund as well to operate. But again never heard casino go bankrupt.

I am not aware of any casino which is going to bankrupt due to player wins. If any site is not scam then there is no possibility of such complaints. There are some scam sites who after running the business for a while plan to make money by scamming. Any such casino platform can hide itself by declaring bankruptcy. But naturally any casino platform has no chance of loss. So I don't think they can go bankrupt. If a casino has a low number of users then that is a different issue but it cannot be due to a player's win.

[len01]

I am not aware of any casino which is going to bankrupt due to player wins. If any site is not scam then there is no possibility of such complaints. There are some scam sites who after running the business for a while plan to make money by scamming. Any such casino platform can hide itself by declaring bankruptcy. But naturally any casino platform has no chance of loss. So I don't think they can go bankrupt. If a casino has a low number of users then that is a different issue but it cannot be due to a player's win.

the casino business which has the goal of defrauding customers by surviving for a while and after getting more customers and heavy traffic this will show some problems from the very beginning of this casino business. Like the case of some scam casinos with the excuse of going bankrupt, they initially came here claiming to be officially licensed casinos and some people believed then made deposits to the site, but here we have lots of smart and experienced gamblers who can tell that the casino is indicated to be a scam from several problems.
so a casino with dirty aims like that won't last long even though they benefit from defrauding their customers but they will continue to do this by changing other sites to different hosting. from this incident as a reminder for each of us to always be careful with casinos that have low traffic.

[lalabotax]

I am not aware of any casino which is going to bankrupt due to player wins. If any site is not scam then there is no possibility of such complaints. There are some scam sites who after running the business for a while plan to make money by scamming. Any such casino platform can hide itself by declaring bankruptcy. But naturally any casino platform has no chance of loss. So I don't think they can go bankrupt. If a casino has a low number of users then that is a different issue but it cannot be due to a player's win.

Yes, the possibility is very small and it seems like it may never have happened. If there is a jackpot, it is certain that the casino has previously estimated the nominal and has prepared it so that they can offer the jackpot because they do have the money and from the jackpot promotion it has actually become a very effective marketing way to attract many people to spend a lot of money to play gambling there. So the possibility is very, very small. But if for other reasons, maybe. Like losing its users for some reason, getting hacked or theft and other reasons.

[LUCKMCFLY]

Seeing it from a higher point of view, yes, a casino when it starts some appeals to capitalize with the money of its players, and that is a practice that seems very reckless to me, because when launching a casino they do not have enough money to endure certain losses, and as there are always whales that enter and play with a large amount of money, because sometimes there can be some cases where you can't do more, so there are many casinos that here in the forum appeal to that, they do badly but they don't declare bankruptcy, but they insist and then start with the withdrawal problems.

[Wiwo]

Seeing it from a higher point of view, yes, a casino when it starts some appeals to capitalize with the money of its players, and that is a practice that seems very reckless to me, because when launching a casino they do not have enough money to endure certain losses, and as there are always whales that enter and play with a large amount of money, because sometimes there can be some cases where you can't do more, so there are many casinos that here in the forum appeal to that, they do badly but they don't declare bankruptcy, but they insist and then start with the withdrawal problems.

I guess that is the starting point of the failure of some casinos who have failed to pay out their players winning due to is high amount,  this mistakes can be as a result of several factors on the part of the casino and one of which is lack of adequate liquidities to sustain the business before lunching the casino, because it is very important to have a good capital before starting up a casino business since the probably fair systems works in both ways.

[Gozie51]

Seeing it from a higher point of view, yes, a casino when it starts some appeals to capitalize with the money of its players, and that is a practice that seems very reckless to me, because when launching a casino they do not have enough money to endure certain losses, and as there are always whales that enter and play with a large amount of money, because sometimes there can be some cases where you can't do more, so there are many casinos that here in the forum appeal to that, they do badly but they don't declare bankruptcy, but they insist and then start with the withdrawal problems.

All these withdrawal problems and casinos going bankrupt can be checked if only bettors research on reputable casinos that have stayed a long time. Those that have license also is important because they would have gone through a registration requirements were there start up capital would have been investigated to see how much they can carry but before a casino goes down there are signs you could notice especially if there are series of backlog of awaiting withdrawal. Again, someone need to be careful with new casinos since they are barely starting, they might have nothing to lose if they don't pay big wins .

[uneng]

Seeing it from a higher point of view, yes, a casino when it starts some appeals to capitalize with the money of its players, and that is a practice that seems very reckless to me, because when launching a casino they do not have enough money to endure certain losses, and as there are always whales that enter and play with a large amount of money, because sometimes there can be some cases where you can't do more, so there are many casinos that here in the forum appeal to that, they do badly but they don't declare bankruptcy, but they insist and then start with the withdrawal problems.

All these withdrawal problems and casinos going bankrupt can be checked if only bettors research on reputable casinos that have stayed a long time. Those that have license also is important because they would have gone through a registration requirements were there start up capital would have been investigated to see how much they can carry but before a casino goes down there are signs you could notice especially if there are series of backlog of awaiting withdrawal. Again, someone need to be careful with new casinos since they are barely starting, they might have nothing to lose if they don't pay big wins .

That is why most gamblers avoid playing at brand new casinos. Besides the risk of the casino being a scammer from the beginning, there is also the risk the casino is legit, but doesn't have a decent bankroll size to afford the initial big wins from whales, which are susceptible to happen on short term. That lack of funds can be a logistical mistake from casinos' developers and managers, although they have real intentions to stay on the industry for a long time.

What can help the house to prevent this kind of issue is to set a maximum bet size proportional to the maximum amount the currently have on their bankroll. So, the bigger the bankroll of the casino, the higher maximum bets will be.

[maydna]

I am not aware of any casino which is going to bankrupt due to player wins. If any site is not scam then there is no possibility of such complaints. There are some scam sites who after running the business for a while plan to make money by scamming. Any such casino platform can hide itself by declaring bankruptcy. But naturally any casino platform has no chance of loss. So I don't think they can go bankrupt. If a casino has a low number of users then that is a different issue but it cannot be due to a player's win.

Yes, the possibility is very small and it seems like it may never have happened. If there is a jackpot, it is certain that the casino has previously estimated the nominal and has prepared it so that they can offer the jackpot because they do have the money and from the jackpot promotion it has actually become a very effective marketing way to attract many people to spend a lot of money to play gambling there. So the possibility is very, very small. But if for other reasons, maybe. Like losing its users for some reason, getting hacked or theft and other reasons.

Unless the casino is not ready for a surge in players and those players manage to win the jackpot, the casino can lose a lot of money because it does not prepare a balance that is more than sufficient to pay out the winners. It can cause a casino to go bankrupt. Still, usually, casino owners expect this to happen in their casino, especially if the casino is aggressively promoting their casino in many places, including on social media. But even that has been anticipated by casino owners by providing large balances to pay the winners. But the winners will be a few and can only be won by a few users while other gamblers will experience big losses. So, in this case, it is less likely for the casino to go bankrupt because the users hit the jackpot.

[Solosanz]

I guess that is the starting point of the failure of some casinos who have failed to pay out their players winning due to is high amount,  this mistakes can be as a result of several factors on the part of the casino and one of which is lack of adequate liquidities to sustain the business before lunching the casino, because it is very important to have a good capital before starting up a casino business since the probably fair systems works in both ways.

Usually the casino will give an excuse by freezing the gambler money, investigating the account, ask a long time to wait and confiscate the funds with the reason of breaking he casino's rules. This depends on how smart is the representative to manipulate the gambler and everyone to believe in their words. They will give a little proof and when someone demanding a complete proof, the casino can give an excuse if they're don't want to ruin the gambler's privacy etc.

[Slow death]

something that I have seen in the last few months and that when I saw this thread I immediately remembered was: in the last few months there have been casinos in which the owners do not show a great level of interest in making the casino a good place for people to play and feel confident that they will not be cheated and stolen, the marketing guys or casino representatives on the forum and elsewhere have arrogant behavior and it looks like they were forced to be in that job, when people ask a question they just ignore it, when people make a complaint they just use their TOS as an excuse and of course people will complain everywhere on the internet

and as a consequence the casino loses many customers and starts to go bankrupt, what I keep asking myself is the following: why does a person spend time and money to create a casino and then deceive and steal people's money and 3 months later go bankrupt, when could run an honest casino for many years and profit from it for many years, why not do that? Could it be that it is not being easy to get a regular customer base at the casino? then he started asking me how many customers each casino has? I don't know where to get such information, but it would be good to have this information to see how many customers the new casinos have been getting

[goldkingcoiner]

Is it possible for a casino to go bankrupt because a player gets a very big win?

I think maybe that's hard to happen if we look at casinos that are already big and well known. But suppose there is a new casino, and there are some players who are very good at playing, so they can win continuously, can the casino go bankrupt? or do they already have an algorithm or a way so players can't keep winning?

Technically it could be possible but I think the casino would have to be quite small for that to happen. Big casinos have a lot of funds and even investors backing them, should they need a loan or something. In a hypothetical situation that a billionaire like Elon Musk or Bill Gates decides to gamble a few billion dollars on a high risk game with a high reward, and win, then yes, the casino will be in big trouble.

But usually casinos know and watch over their risks and always have some kind of back up plan in case something like a big win happens.

We do hear from time to time casinos withholding winnings for a long time, and people suspect it is because they cannot immediately pay out the large winnings all at once... Although eventually the winnings are paid out.

[klidex]

I guess that is the starting point of the failure of some casinos who have failed to pay out their players winning due to is high amount,  this mistakes can be as a result of several factors on the part of the casino and one of which is lack of adequate liquidities to sustain the business before lunching the casino, because it is very important to have a good capital before starting up a casino business since the probably fair systems works in both ways.

Usually the casino will give an excuse by freezing the gambler money, investigating the account, ask a long time to wait and confiscate the funds with the reason of breaking he casino's rules. This depends on how smart is the representative to manipulate the gambler and everyone to believe in their words. They will give a little proof and when someone demanding a complete proof, the casino can give an excuse if they're don't want to ruin the gambler's privacy etc.

Quite often we hear about this problem and it often happens in these forums when casino rules are used to suspend customer funds and accuse each other between casino and customers. very sad.
But if the customer is smart they will continue to put pressure on the casino to be able to return the confiscated money or else the customer is smart will sue the casino and threaten to spread the case.
If this case is spread by related customers, of course the casino will lose customers and can become bankrupt.

[AmoreJaz]

I guess that is the starting point of the failure of some casinos who have failed to pay out their players winning due to is high amount,  this mistakes can be as a result of several factors on the part of the casino and one of which is lack of adequate liquidities to sustain the business before lunching the casino, because it is very important to have a good capital before starting up a casino business since the probably fair systems works in both ways.

Usually the casino will give an excuse by freezing the gambler money, investigating the account, ask a long time to wait and confiscate the funds with the reason of breaking he casino's rules. This depends on how smart is the representative to manipulate the gambler and everyone to believe in their words. They will give a little proof and when someone demanding a complete proof, the casino can give an excuse if they're don't want to ruin the gambler's privacy etc.

Quite often we hear about this problem and it often happens in these forums when casino rules are used to suspend customer funds and accuse each other between casino and customers. very sad.
But if the customer is smart they will continue to put pressure on the casino to be able to return the confiscated money or else the customer is smart will sue the casino and threaten to spread the case.
If this case is spread by related customers, of course the casino will lose customers and can become bankrupt.

if the player has strong use case, he can easily publish the case in this forum via scam accusations board. and other users will help him get what he is owed to. but if the casino has valid reason why they freeze the account, and they disclose his situation, it means, it is the player's fault.
but definitely, if the player has nothing to hide and transparent about the situation, he can push thru the allegation and maybe get the casino pay him. i've seen a lot of these cases here in this forum where problems are resolved because the community members are also pushing the site to resolve the situation.

[FinneysTrueVision]

Donald Trump had several casinos that went bankrupt but I don't think it was because of players winning too much. A player winning might only be one of several factors that can lead to a casino having financial problems. Casinos have salaries they have to pay employees and they need to give away nice bonuses to attract new customers. Your expenses might become unsustainable if you are not bringing enough revenue to cover those costs. Casinos are legally allowed to ban players if they win too much so it is nearly impossible to go bankrupt solely for this reason.