Can Casinos Go Bankrupt Because of Player Wins?

[harizen]

Because some scammer will deposit high money to skip the process of tracking by the software in-build with the website.Then the website target the high winning people,mostly cheater made the high win only by using the VPN and software.Nearly 90 percentage of the scammers was find by the software in-build in the casino website.

I was confused by your statement;

- Scammers will deposit high money to skip the process of tracking the software of a website.

What do you mean by here? How depositing a huge amount of money plays a role there? What's the advantage that "scammers" will get by doing that? If it's something about money laundering, a huge amount can trigger the alarm and that will be noticed by the system.

- Then the website target the high winning people,mostly cheater made the high win only by using the VPN and software

Regardless if they are cheaters, scammers or so on, how can these users will able to make a high win? All site users are facing the same random algorith of the said site and these users won't be able to manipulate the result by themselves.

Can you elaborate on these 2 statements of yours?

[STT]

The main point on this discussion should be that no one player should be able to break the casino.  Its a myth in the majority, there is some stories written about the idea of it happening and perhaps many more stories where some fraud occurred.  Most famous of which I can recall is the fight over slot machines and all the tools that would get used to trick those machines into paying out when they shouldn't, that happened for a long time and doesn't now so far as I know.   A single player shouldn't be able to because the casino should be aware of all the risks and limits to one single players game, they are required to do the maths and be able to handle that game.   However it is still feasibly possible alot of luck variance to occur and a great cash call to appear on the casino reserves, most of the time that should not ever be happening and staff surely monitor the stats for such occurrence because of the fallout, security, etc.

[tusandii]

-snip-

Yes, the possibility that the player can do to make a bankrupt casino is by cunning (illegal actions), and looking for weaknesses in the casino itself to take a big victory.

It's not that easy, maybe players can cheat to win big but are you sure these players can withdraw their winnings?
When a gambler gets a big win, every casino will definitely trace it first or detect whether the gambler has really played honestly or not until he gets that win.
Now, when the casino team finds out about the gambler's fraudulent actions, the account will be frozen and the money in the gambler's account balance will be withdrawn by the casino team.

There was an example that happened years ago when someone (Hufflepuff) in Primedice could take over million dollar from the house as he found a way to cheat the game. It proves that there is still a chance to withdraw the winnings if someone found a way to cheat the game. Maybe the experience in Primedice years back is a big lesson for other casinos to always check big winning before release withdrawal, but how about smaller withdrawal? As someone who found a way to cheat the game may do it smaller amount but continuously to make it looks normal.

That was then but now every big and popular casino must have had a system of some kind of bot that can detect every gambler's win and of course every casino cannot just let their customers make large withdrawals before checking back whether the winnings are genuine or not.
Yes, what really needs to be done is to check every gambler's win, whose nominal value is quite large, because if you only manipulate withdrawals gamblers can still withdraw small amounts gradually.

Primedice is a big gambling site so when there are fraudulent acts committed by gamblers there the news must have spread widely so that other casinos are more careful and alert to any suspicious customers.

[Webetcoins]

To be more precise, casinos currently have much better system development than in the past few years so that almost every user account is always monitored by the system.
So even though we always have ways to cheat the casino, it will always be seen because now, as I said earlier, when for example a customer gets a big win, the system will automatically detect the activity and if the activity is not in accordance with the rules, the system will definitely notify the team to review more details about the win and it also happens to small or medium wins.
So that in this era of technological development it is a little difficult for fraudsters to try to deceive the casino

Well, the thing about technological advancements and developments is right and that casino management teams are always monitoring all the activities happening and they have algorithms to detect unusual activities of the players. However, I don't really think that we have a lot of ways to cheat the casinos because there is literally no way for a gambler to cheat the casino apart from those people who try and abuse the bonuses casinos provide by creating multiple accounts, etc.

But even the bonus abusers are prevented from doing so nowadays as a platform providing a bonus would require the player to verify their identity to either get the bonus or if they get it, they will be asked to complete KYC verification before they can be able to withdraw the money they might have won.

[Wakate]

The main point on this discussion should be that no one player should be able to break the casino.  Its a myth in the majority, there is some stories written about the idea of it happening and perhaps many more stories where some fraud occurred.  Most famous of which I can recall is the fight over slot machines and all the tools that would get used to trick those machines into paying out when they shouldn't, that happened for a long time and doesn't now so far as I know.   A single player shouldn't be able to because the casino should be aware of all the risks and limits to one single players game, they are required to do the maths and be able to handle that game.   However it is still feasibly possible alot of luck variance to occur and a great cash call to appear on the casino reserves, most of the time that should not ever be happening and staff surely monitor the stats for such occurrence because of the fallout, security, etc.

Anything is posible if someone can break the forum market to the extent that the Bank of England went bankruptcy then gambling is a small world where such a thing can happen without limit. I have seen so many casinos going bankruptcy in my locality because of the winning of a particular player. This made the casino to lack fund to pay the player and have no option that to void the game.

 The matter later ended in Court and the judge had to force the casino to pay the player his money. This can if scenerio happens always in the gambling sector that is why many casinos do have maximum gambling limit to avoid anything like that where a player is able to win a huge fund that casino can not afford to pay.

[internetional]

While you may have witnessed some instances, in general, the scenario where a player wins such a huge amount that the casino goes bankrupt is extremely rare. Casinos typically assess risks and set limits for players to avoid such situations. They also have strict security and control systems in place to minimize potential losses. In case of conflicts with players, they usually prefer to resolve them internally or through the legal system to avoid publicity and maintain their reputation.

[LUCKMCFLY]

In any case, I think that this is one of the ways that a casino can fail, in fact a casino is a very profitable company, but it is best to always start with a lot of capital, for whatever, also security is something that must always be invested in, security must be strengthened every week, now more than ever when AI is emerging it is something that makes any casino think, so different technical specialists must be hired, security must not be neglected for any reason, I know that now security with AI is emerging, but it is better to be at the forefront to avoid this type of thing, for a casino to lose capital is something very easy, if there is no good administration that is the first of all the problems that will come.

I'm sure most casinos nowadays are putting in huge funds for security purposes. It's something necessary and mandatory.

However, hackers really can find a way to enter a vulnerable part of a casino's security. The reason? Because these hackers are really focused on doing that to the point that most of their time only spend looking for ways to somehow breach the casino security.

Anyhow, if the casino is not spending too much hiring some good techies out there to ensure the safety of the casino funds, then for sure, they don't have the ability to even cover whole big winnings once their gamblers won big. Bankrupt will surely follow next.

Well, in the case that a casino can be hacked, the casinos as a means of security have to have the funds in another system or in something very different where a hacker can access, there are different types of servers where many data can be stored, and something As improtnate as the money in a casino is, I personally believe that a casino should have its money somewhere other than a casino, because the same casino can be compromised and if they access the payment system, withdrawals can do things that they never would they can delicacy or know how they were or did, that is why it is imperative that every casino can access another way of guatraqdar money, something like the security system that exchanges have so that they do not steal your money.

Of course, the exchanges have other ways to protect their money, and when they go to make the withdrawals, what they do is connect to the server where the money is and extract the part that they are destined to withdraw, that's why I think that a casino should always invest a lot money in security, because without security there is nothing, and it is very difficult to have players who are whales and from one day to the next their money disappears and they stay without doing anything at all.

It has happened that in some exchanges that has happened, I don't know if you remember the Binance theft, when they hacked it, or maybe Binance had to respond to all its clients, then they overcame it and tried to have great security, but it's something that they learned not to have more vulnerabilities.

[bangjoe]

Maybe it is one proof that it could be the reason why casinos could experience bankruptcy if the action was carried out massively and if not realized by the casino itself, It is important to re -check the victory of users whose number of wins they cannot understand.

Which in my opinion is also quite dangerous if the perpetrators play quite neatly using the tricks to get the victory that might be considered there is nothing strange by the casino, such as the number of wins under one million, and sometimes he deliberately made him lose so as not to be detected that he committing cheating, people like this if the tricks are done by many people, can make the casino go bankrupt slowly.

But doesn't it seem nave to assume that casinos, who have made a business out of mastering probability and risk, wouldn't notice these kinds of trends? In my opinion, casinos put a lot of money into their software and security systems to prevent cheating. They are not relying solely on chance like the athletes do

And it's not just casinos; every company model may be hit by bad actors if they do enough of them. Strong internal controls and constant monitoring to spot suspicious behavior are crucial. You should keep in mind that casinos have been around for decades; they are not simply lucky, but savvy as well

I agree about you friends, of course the casino will increase its safety and spend a lot of money to maintain their safety and that indeed if viewed from the side of your view it is naive also in my opinion, because they have arrangements to manage their opportunities and risks, but Yes, as well as bug seekers and system failures, certainly more sophisticated and play safely, maybe today there is no new news that does cunning like that, because today's casino maintains their security tightly but surely there will be wakti where hackers The more sophisticated and scanning the failure of the system they will get the room and play safely like the players in general as I said before.

It is important for casinos as time goes by must increase their safety from the possible system

[pawanjain]

They obviously do have such tools to monitor everything happening, running a business is not a joke, you can't just let your business go bankrupt only because a player in your casino got a big win, they have everything planned so that it doesn't happen, and as you said, they would never have a reward as big as their bankroll or higher than it, even the highest jackpot one can hit in a casino is way lower than the total bankroll of the casino that they use to reward the players.

So a casino that is well-built, everything is planned and there is very good management, can never go bankrupt because of the fact that a player or multiple players won big rewards, it might happen if there is a breach in the system and some hackers or exploiters steal their money some way.

Yes ofcourse, but I won't deny the fact that there are casino sites who gives huge rewards/bonuses to their users or so as they portray.
But the reality is that after one point, they make a classic exit scam just to let the users know that all of it was a trap for them.
We have already seen hundreds of such cases where users have lost money by casino sites luring them with huge bonuses.

No matter how big rewards they give to their players, they always make sure that the rewards are according to their bankroll and they have algorithms to make sure that the games don't give out rewards as big as the bankroll itself, and the algorithms also make sure that the players don't be able to make bets so big that can win an amount bigger than the bankroll, that is the reason why most casinos have a limit for the max bet at certain games.

Also, they are monitoring everything 24/7, so whenever something goes wrong, they act quickly so that the platform don't face a lot of problems, whether it's a bug or a system error that is giving more money than a player should get for a certain win, so that the players don't abuse the system.

Yesterday I saw a clear example of this while playing slot machines at Stake website and there were a lot of people playing there from what I was chatting with other people in the chat,also exchanging ideas what slots to play.Most of the players were blaming their bad luck for their big lost amounts while after a certain time some guy hit that max win of x10.000 in a well known slot.We all congratulated him and he send to us generous tips because his bet was really big and he won a lot of money.

This example to say that no matter how big someone wins there will be 99 others losing which would consist of the casino getting profit and as such the casino,the reputable one can never go bankrupt from such things.

That is actually a good point and acts a catalyst to my previous post. The casino sites make sure of this that their bankroll is always in positive.
As you said, when there's one person winning there are 99 others who are losing which eventually makes the casino site in profits.
So basically the casino cannot go bankrupt because of a single person winning big.

[topbitcoin]

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

In my opinion, this is an impossible thing to happen, the casino went bankrupt because of the many players who won. And I think the casino has more control and rules for everyone who plays there.

With so many players winning, this will actually be the main attraction for the casino which will attract the attention of people to play there because they see a sizable chance of winning. When the casinos are more crowded, the profits will increase and I think those who own casinos are smarter than those who play.

One thing that can make a casino bankrupt is that there are no more people visiting and playing there which results in the casino losing money. So as long as people have an interest in gambling then casino venues will still exist and survive.

[abel1337]

They obviously do have such tools to monitor everything happening, running a business is not a joke, you can't just let your business go bankrupt only because a player in your casino got a big win, they have everything planned so that it doesn't happen, and as you said, they would never have a reward as big as their bankroll or higher than it, even the highest jackpot one can hit in a casino is way lower than the total bankroll of the casino that they use to reward the players.

So a casino that is well-built, everything is planned and there is very good management, can never go bankrupt because of the fact that a player or multiple players won big rewards, it might happen if there is a breach in the system and some hackers or exploiters steal their money some way.

Yes ofcourse, but I won't deny the fact that there are casino sites who gives huge rewards/bonuses to their users or so as they portray.
But the reality is that after one point, they make a classic exit scam just to let the users know that all of it was a trap for them.
We have already seen hundreds of such cases where users have lost money by casino sites luring them with huge bonuses.

No matter how big rewards they give to their players, they always make sure that the rewards are according to their bankroll and they have algorithms to make sure that the games don't give out rewards as big as the bankroll itself, and the algorithms also make sure that the players don't be able to make bets so big that can win an amount bigger than the bankroll, that is the reason why most casinos have a limit for the max bet at certain games.

Also, they are monitoring everything 24/7, so whenever something goes wrong, they act quickly so that the platform don't face a lot of problems, whether it's a bug or a system error that is giving more money than a player should get for a certain win, so that the players don't abuse the system.

Yesterday I saw a clear example of this while playing slot machines at Stake website and there were a lot of people playing there from what I was chatting with other people in the chat,also exchanging ideas what slots to play.Most of the players were blaming their bad luck for their big lost amounts while after a certain time some guy hit that max win of x10.000 in a well known slot.We all congratulated him and he send to us generous tips because his bet was really big and he won a lot of money.

This example to say that no matter how big someone wins there will be 99 others losing which would consist of the casino getting profit and as such the casino,the reputable one can never go bankrupt from such things.

That is actually a good point and acts a catalyst to my previous post. The casino sites make sure of this that their bankroll is always in positive.
As you said, when there's one person winning there are 99 others who are losing which eventually makes the casino site in profits.
So basically the casino cannot go bankrupt because of a single person winning big.

Yep that's right. The house will always win since there's a house edge that will help thwm win over the gamblers. One reason I know why caaino go bankrupt is having no traffic or slowly perishing gamblers in their casino. New casino are prominent to this given that a casino will pay for it's maintenance, workers and other things such as promotions. If they can't make gamblers play at their casino, they will surely slowly get bankrup as the income of thw casino can't cope with the maintenance of the casino.

[Slow death]

looking at the stories I've seen over my years on this forum, I can already say that a casino will hardly, not to use the word impossible, go bankrupt just because people were winning a lot of money, that's because casinos always win, and this will not change, it is true that the casino has to pay bills such as server, gambling provider, employees and partners in case the casino has more than one owner, of these expenses the one that I see being more expensive is the expense with employees because the guys who work with coding charge a lot for their services

it's not easy to create a casino from scratch and keep fixing bugs, making updates and protecting the casino from attacks, that's why those coding guys charge a lot, they are the employees who are well paid, the partners keep the profits being like that casino still makes a profit, but it has advertising expenses, which is a very expensive expense, especially when it is not well managed, and in this part where many casinos fail, for example when a casino spends a lot on advertising but is not able to get customers they start to having a lot of expenses and not being able to pay the salary of the employees and as a consequence the casino goes bankrupt

but casinos do not go bankrupt while they have customers, I have not seen any case where someone has won a lot of money to the point of taking a casino bankrupt, although I have seen cases of people who have won a lot and the casino has taken many turns to pay, it was quite obvious that the amount earned by the person would greatly affect the casino's finances but would not bankrupt the casino

[Westinhome]

looking at the stories I've seen over my years on this forum, I can already say that a casino will hardly, not to use the word impossible, go bankrupt just because people were winning a lot of money, that's because casinos always win, and this will not change, it is true that the casino has to pay bills such as server, gambling provider, employees and partners in case the casino has more than one owner, of these expenses the one that I see being more expensive is the expense with employees because the guys who work with coding charge a lot for their services

it's not easy to create a casino from scratch and keep fixing bugs, making updates and protecting the casino from attacks, that's why those coding guys charge a lot, they are the employees who are well paid, the partners keep the profits being like that casino still makes a profit, but it has advertising expenses, which is a very expensive expense, especially when it is not well managed, and in this part where many casinos fail, for example when a casino spends a lot on advertising but is not able to get customers they start to having a lot of expenses and not being able to pay the salary of the employees and as a consequence the casino goes bankrupt

but casinos do not go bankrupt while they have customers, I have not seen any case where someone has won a lot of money to the point of taking a casino bankrupt, although I have seen cases of people who have won a lot and the casino has taken many turns to pay, it was quite obvious that the amount earned by the person would greatly affect the casino's finances but would not bankrupt the casino

It is almost not a possible one,because the winning is kept based on the holding money on the gambling site.Secondly the winning is kept based on the number of bet placed,So no possibility to get bankrupt based on the winning money.It is most essential for the team to do research and keep the winning money to the game.The offline casino may get bankrupt because of the manual corruption by the money handling employee of the casino.The probability of winning by the person is like 1/3,So nearly thirty percentage of chance was goes to the Gambling sites.If the casino had try to spend huge money on advertisement will leads to bankrupt.

[madnessteat]

^

In the management of casinos do not allow fools, so no one will not spend the entire budget on advertising, although it is very important for such a business as gambling. The one who manages the casino money should always have some money for unexpected expenses, whether it is the salary of employees in the event of an emergency situation in the casino, or the incorrect operation of algorithms to limit the winnings.

[ethereumhunter]

^

In the management of casinos do not allow fools, so no one will not spend the entire budget on advertising, although it is very important for such a business as gambling. The one who manages the casino money should always have some money for unexpected expenses, whether it is the salary of employees in the event of an emergency situation in the casino, or the incorrect operation of algorithms to limit the winnings.

The team from the casino are chosen people who already understand their duties so they can work well and develop the casino to become bigger. In addition, the people who make up the casino team can properly manage the budget provided by the casino owner. With the correct allocation of funds, the casino can pay out the winnings obtained by gamblers. The casino also wouldn't cheat the winning gambler by running away from his responsibilities because that would damage his already earned reputation. This is what makes casinos able to get a good reputation so that casinos can develop their business even better.

[fullhdpixel]

Yesterday I saw a clear example of this while playing slot machines at Stake website and there were a lot of people playing there from what I was chatting with other people in the chat,also exchanging ideas what slots to play.Most of the players were blaming their bad luck for their big lost amounts while after a certain time some guy hit that max win of x10.000 in a well known slot.We all congratulated him and he send to us generous tips because his bet was really big and he won a lot of money.

This example to say that no matter how big someone wins there will be 99 others losing which would consist of the casino getting profit and as such the casino,the reputable one can never go bankrupt from such things.

That is actually a good point and acts a catalyst to my previous post. The casino sites make sure of this that their bankroll is always in positive.
As you said, when there's one person winning there are 99 others who are losing which eventually makes the casino site in profits.
So basically the casino cannot go bankrupt because of a single person winning big.

Even if there aren't 99 players losing when one gambler wins big, or even more than one gambler gets big wins, they have algorithms that manage the amount a user can win based on the available bankroll, the maximum allowed bet is also adjusted accordingly so that if the bankroll only has $20k available, gamblers can only bet a certain amount that cannot win higher than the amount available, and once the bankroll increases, the limits are increased automatically.

So a casino that is built well and the management is doing a good job, there is no chance for it to go bankrupt considering it has a good amount in the bankroll initially because their system and algorithms won't let that amount get finished, and we all know that it is not possible for everyone to keep winning.

[Westinhome]

Even if there aren't 99 players losing when one gambler wins big, or even more than one gambler gets big wins, they have algorithms that manage the amount a user can win based on the available bankroll, the maximum allowed bet is also adjusted accordingly so that if the bankroll only has $20k available, gamblers can only bet a certain amount that cannot win higher than the amount available, and once the bankroll increases, the limits are increased automatically.

So a casino that is built well and the management is doing a good job, there is no chance for it to go bankrupt considering it has a good amount in the bankroll initially because their system and algorithms won't let that amount get finished, and we all know that it is not possible for everyone to keep winning.

It's like the one of hundred in common.The hundred people made their bet in the gambling,but only one get the chance to win the game.This will like one person had the lucky day and rest wait for their luckiest day.After some continuous loss,the gambler get into the vision of the website it made with the program to get the entire money from gambler.But it's not the true one,what he do if they made the continuous win in a row.It was sure he will not contact the support why you make me win all the time Lol.When the casino correctly manage the money,the possibility of bankrupt is low.

[DoublerHunter]

Even if there aren't 99 players losing when one gambler wins big, or even more than one gambler gets big wins, they have algorithms that manage the amount a user can win based on the available bankroll, the maximum allowed bet is also adjusted accordingly so that if the bankroll only has $20k available, gamblers can only bet a certain amount that cannot win higher than the amount available, and once the bankroll increases, the limits are increased automatically.

So a casino that is built well and the management is doing a good job, there is no chance for it to go bankrupt considering it has a good amount in the bankroll initially because their system and algorithms won't let that amount get finished, and we all know that it is not possible for everyone to keep winning.

It's like the one of hundred in common.The hundred people made their bet in the gambling,but only one get the chance to win the game.This will like one person had the lucky day and rest wait for their luckiest day.After some continuous loss,the gambler get into the vision of the website it made with the program to get the entire money from gambler.But it's not the true one,what he do if they made the continuous win in a row.It was sure he will not contact the support why you make me win all the time Lol.When the casino correctly manage the money,the possibility of bankrupt is low.

^Definitely right because the casinos are well aware of these dynamics and, as you mentioned, proper management of their financial resources is critical to prevent bankruptcy. Their business model is built on statistical probabilities and the long-term advantage they have over players due to the house edge. While it is possible for individuals to have winning streaks, the overall financial health of the casino is determined by the collective outcomes of all players over time. Based on what I have seen, most reputable casinos are subject to regulations and oversight that prevent them from rigging games to ensure consistent losses for players. Rigging games in such a manner would not only be unethical but could also result in legal consequences.
So, while individual players might experience luck and win, the casino's financial stability is built on the aggregate results of many players' bets over time. And as long as the casino manages its finances wisely and follows the rules of fair play, the likelihood of bankruptcy due to player wins remains low.

[ginsan]

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?

I think a casino that has been around for a long time surely they won't go bankrupt if the players win a really big one because they have a big enough budget to sustain their business to pay for it. As you know, big gambling sites are unlikely to go bankrupt if slot players win jackpots in the games they play.

Apart from that, I don't think there is a specific algorithm if the casino is already big to manipulate the players' wins because they have thousands of slot players every day. So that the money circulation in their casino is big enough to pay the players if they hit the jackpot or big multiplier.

[ethereumhunter]

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?

I think a casino that has been around for a long time surely they won't go bankrupt if the players win a really big one because they have a big enough budget to sustain their business to pay for it. As you know, big gambling sites are unlikely to go bankrupt if slot players win jackpots in the games they play.

Apart from that, I don't think there is a specific algorithm if the casino is already big to manipulate the players' wins because they have thousands of slot players every day. So that the money circulation in their casino is big enough to pay the players if they hit the jackpot or big multiplier.

Big casinos already have good financial management, so if a player wins a big win, it doesn't affect the casino. The casino may make an even bigger promotion so that more and more gamblers come to the casino to gamble. With so many gamblers coming to the casino every day and so many losing gamblers, the casino's income must be very large so that the casino can continue to run its business well. And the big casino will also not deceive slot players or other gambling game players because that can damage its reputation and players will leave the casino so that it will have an impact on casino income. That might bankrupt the casino because many gamblers will leave the casino because they are disappointed with the service provided by the casino to them.