Disruption In The Gambling Industry Your Opinion

[robelneo]

This topic is not about the recent hacking of Stake there is a dedicated topic about this

Stake.com Hot wallet robbed for 40Million + usd  (Confirmed by stake)

But it's more on the general opinion when top casinos are hacked

 - Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

 - When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

 - When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

 - Top casinos should be our priority because small casinos cannot operate normally after the hacking.

 -  Do you believe that there will be more hacking after the top casinos?

 - Do you think gamblers will stop playing for the time being after this is all settled?

[Oshosondy]

Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

I will say yes but it also depends on the casino. Most of the coins deposited by users should be moved to cold wallets. They known how their customers are depositing and withdraw which can be used to make this work accurately.

When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

I can never believe that. Only when I know that my coins are safe is when I protect it myself.

When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

I will still not believe it.

Top casinos should be our priority because small casinos cannot operate normally after the hacking.

Yes but top casinos are mostly the main target.

Do you believe that there will be more hacking after the top casinos?

They are using hot wallets, what are you expecting. Yes.

- Do you think gamblers will stop playing for the time being after this is all settled?

Gamblers will continue to gamble. Only what they can later do is to move to another casino. About Stake, this is what they do not want and make withdrawal continue even after the hack.

[Wiwo]

First let me say big up to Stake for its ability to continue operations even with the huge loss in the last 24 hours and being able to restore withdrawal for the affected hot wallets,  and back to your questions about the risk associated with big casino hacks

The news of the stake hack came unexpectedly since exchanges have been the main target for hackers for quite some time now,  making it look as if casinos have higher securities in terms of hot wallet protection and securities,  but with the stake incident, the reverse of the case and gamblers need to be wary of where they leave the money.

I believe that stake hacking won't be the last since hacking attacks won't seize to exist as bad actors in the industry,  but more also I will rather gamble on a casino that I know can survive even if the wallets are hacked rather than play on a small casino that will park up operation if there are hit by hackers and losing my entire fund.

[acroman08]

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

Yeah, they can, As you said, they have enough funds stored elsewhere but it would still depend on the casino whether they want to continue operation or not. Also, I am not entirely sure but hacking can be covered by cyber security insurance if the casino has it.

- When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

It could be both, but it is probably mostly to maintain their image and also not to make their gamblers/clients panic.

- When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

Just like my answer before, it is most likely to maintain their image and not to make their gamblers/clients panic.

- Top casinos should be our priority because small casinos cannot operate normally after the hacking.

When you say "priority" do you mean as a choice where to gamble? if so, yes. but it is not that bad trying out smaller casinos.

-  Do you believe that there will be more hacking after the top casinos?

yeah, they would most likely try again, let's just hope the casino upgraded their cyber security.

- Do you think gamblers will stop playing for the time being after this is all settled?

entirely depends on the individual, some would probably stop and others would continue like nothing happened.

[aioc]

First let me say big up to Stake for its ability to continue operations even with the huge loss in the last 24 hours and being able to restore withdrawal for the affected hot wallets,  and back to your questions about the risk associated with big casino hacks

As expected they have shown resiliency they are really an industry leader but I'm sure they will not take this thing sitting down and they will go for the culprit, they have the money and the resources, and it really is a good choice to play in casinos that have proven their stability in the industry, it will indeed become a big disruption if Stake ceases their operation but they need a continuous flow of money so that is why they never cease their operations.

I believe that stake hacking won't be the last since hacking attacks won't seize to exist as bad actors in the industry,  but I will rather gamble on a casino that I know can survive even if the wallets are hacked rather than play on a small casino that will park up operation if there are hit by hackers and losing my entire fund.

That's also what I'm thinking right now, gamblers will be more lenient on stable casinos, or the small or medium-level casinos should assure the gambling community that they are employing top-level security and assure their players that their funds are secure.

[Wapfika]

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

Yes, because they can recover easily as long as customers will not abandon them. But also it’s case to case basis based on the amount involved.

- When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

You have no choice than to believe if you want to still control playing in the casino. Casino will not admit that user fund is not safe unless they already file bankruptcy. It’s the risk you are willing to take for still playing in that casino

- When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

Yes, it’s possible but again it depends on the amount involved and the bankroll of the casino. Only casino can answer this question

-  Do you believe that there will be more hacking after the top casinos?

 - Do you think gamblers will stop playing for the time being after this is all settled?

Yes on both question.

[Cookdata]

This topic is not about the recent hacking of Stake there is a dedicated topic about this

Stake.com Hot wallet robbed for 40Million + usd  (Confirmed by stake)

But it's more on the general opinion when top casinos are hacked

 - Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

 - When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

 - When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

 - Top casinos should be our priority because small casinos cannot operate normally after the hacking.

 -  Do you believe that there will be more hacking after the top casinos?

 - Do you think gamblers will stop playing for the time being after this is all settled?

With the current situation of crypto market, it seems centralized exchanges are not liquid enough for attacks and so does Defi also, the new oil money for targeted hacks are now gambling platforms and this call for a concern. Not your keys, not your coin, however I'm not sure if we centralized exchanges are not any difference from gambling platform but the challenges is that you can't bet without your fund on theor hot wallets which makes it prone to attacks.

-Depends on how the Casino had itself plan, if there is an insurance that will cover the loss, they can come back but will take time before they become active or where they left before the hack. But, $41M is really a lot, I wonder if there is ab insurance company that can cover that loss without involving there loss.

-When casino says users fund are safe, I believe they are doing that to best of the ability but then, you can never tell, there are somethings that are beyond measures or unforseen circumstances where insiders member sell out the team for cheap share of the theft.

-It depends on the solid background and backers. Stake for example has a lot of people behind them, drake is there Ambassador and many other sport companies, if they are making millions from the company, they will support it throughout the trying times till they come back fully.

-skipped

-If hackers could break into a company like stake and they were able to milk them $41M, I expected more hackers to try other gambling platforms.

-Gamblers might change playing ground, they will avoid stake even the players that weren't affect, they will go to another platforms. Especially now that stake is having problems, other platforms will used it as advantage to get more customers.

[Jawhead999]

Most of centralized sites that still operate after get hacked are big and popular sites, that's why it's possible for Stake to maintain their reputation and recover their losses. Funds aren't always been safe, depends on how much the money they have that still not compromised by the hacker.

Every centralized sites are prone to be hacked.

[stadus]

Most of centralized sites that still operate after get hacked are big and popular sites, that's why it's possible for Stake to maintain their reputation and recover their losses. Funds aren't always been safe, depends on how much the money they have that still not compromised by the hacker.

Every centralized sites are prone to be hacked.

The site is still active, so it's not that nothing happened. This publicity is even good for them because even if they lose money, they can still continue to operate. Just like when Binance was hacked, they have something called SAFU funds, and traders aren't affected. Perhaps their funds are insured elsewhere because it's necessary for businesses that handle large amounts of money to have insurance.

I tried to search how much this site is making, and I found some discussions from way back, like this one.

https://www.reddit.com/r/Stake/comments/pqkx1d/how_much_do_you_think_is_stakes_on_average_daily/?rdt=38393

They once had 1 million raffle tickets in a week. That means 1 billion dollars wagered. On a 4% house edge which is the average of all their games, they make $40 million. They also give half their profit back to the players in terms of affiliate commission, level up bonuses, weekly bonus, daily reload, rakeback and monthly bonus. And after paying for everything such as servers and their workers, I’d say definitely over 15 million a week.

So I think the amount stolen isn't huge enough to disrupt their operation.

[Lucius]

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

I am of the opinion that anyone can survive a hack, and that includes an online casino in case they are not so incompetent as to keep all funds in hot wallets or in one account. When it comes to this hack that you mention, the term "pocket money" is mentioned, because the company obviously has billions when it can afford something like this to happen to it.

-  Do you believe that there will be more hacking after the top casinos?

Hacking is an integral part of the online world, whether it is a casino, exchanges or banks, everything that is connected to the internet is subject to hacking.

- Do you think gamblers will stop playing for the time being after this is all settled?

Gamblers will never stop playing, it's not something you just turn off and pretend it doesn't exist for a while. The hack happened, users funds are safe, business is going as usual.

[AprilioMP]

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

Each team on duty has expertise in their respective fields.
Big casinos definitely have a well-structured planning strategy for security that is arranged in such a way because they are very aware of hacking.

A casino hack as big as a popular level like Stake will definitely be able to survive because of the reserves that are not stored in one place, but according to my guess as I said they have other plans that have been arranged from the start to anticipate any unwanted events.
Due to this incident, the Stake casino will definitely be better prepared for hacking security.

- Do you think gamblers will stop playing for the time being after this is all settled?

Will never apply to gamblers. They will continue gambling.

[Yogee]

-  Do you believe that there will be more hacking after the top casinos?

We'll know when that time comes but there are constant attacks on all online platforms including exchanges and even banks so it may or may not happen.

- Do you think gamblers will stop playing for the time being after this is all settled?

Some may but most would probably keep on gambling. If this incident keeps happening then that maybe the time to leave since the casino reputation on securing funds is already damaged.

[Cantsay]

 - Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

They would be able to survive if they have enough funds to continue their operations and also work on their security to assure their users that any similar vulnerabilities would be rectified and they won’t experience anything like that again, but if they don’t have any funds stored somewhere else I’m afraid they would have to fold up and might even face some law suits from their customers.

 

- When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

It will definitely affect their operations and also their numbers of customers will surely drop, because when hacks occurs the first thing that happens is the spread of FUD, and some little casinos might try to key into this opportunity to steal some users from the big casino, so all those are going to affect it.

-  Do you believe that there will be more hacking after the top casinos?

They surely will be another hack but it’s not something that we will get to see everytime but hacks are not something that you can predict if we were able to predict it the company affected would have prevented it.

- Do you think gamblers will stop playing for the time being after this is all settled?

Lmao, ain’t no hacks stopping gamblers from betting. All they have to do is to look for another reputable casino to continue their gambling activities there the only ones that might halt for a while are those that their accounts were affected as for those that experienced no effect they are still going to continue gambling.

[n00ber]

Most of centralized sites that still operate after get hacked are big and popular sites, that's why it's possible for Stake to maintain their reputation and recover their losses. Funds aren't always been safe, depends on how much the money they have that still not compromised by the hacker.

Every centralized sites are prone to be hacked.

The site is still active, so it's not that nothing happened. This publicity is even good for them because even if they lose money, they can still continue to operate. Just like when Binance was hacked, they have something called SAFU funds, and traders aren't affected. Perhaps their funds are insured elsewhere because it's necessary for businesses that handle large amounts of money to have insurance.

I tried to search how much this site is making, and I found some discussions from way back, like this one.

https://www.reddit.com/r/Stake/comments/pqkx1d/how_much_do_you_think_is_stakes_on_average_daily/?rdt=38393
 

Yes, centralized websites always have holes for hackers to find. So we can get updates and patches of web pages.
Big sites will be willing to compensate players. They will instill more trust in players by releasing regular updates. I see Binance has a super secure advanced update panel. They did very well.
I need big sites that will reward hackers who find their vulnerabilities. This is a safe solution with the added benefit of ads, Like Apple did.

[Fortify]

This topic is not about the recent hacking of Stake there is a dedicated topic about this

Stake.com Hot wallet robbed for 40Million + usd  (Confirmed by stake)

But it's more on the general opinion when top casinos are hacked

 - Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

 - When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

 - When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

 - Top casinos should be our priority because small casinos cannot operate normally after the hacking.

 -  Do you believe that there will be more hacking after the top casinos?

 - Do you think gamblers will stop playing for the time being after this is all settled?

This will cause destruction or at least major reputational damage to stake, but it is not necessarily ending their high market share. They would be making a lot of money consistently, so while it will hurt the owner to lose these vast sums, potentially if they are able to weather any storm and pay out every cent by skittish customers in the short term, they may be able to survive longer term. There probably won't be any bonuses to the staff this year though. However this attack could have been very targeted, even by state funded actors like North Korea, who are very patient and will work their way in - knowing there are no criminal consequences to their behaviour but bit reward from their government for the cash.

[Saisher]

This topic is not about the recent hacking of Stake there is a dedicated topic about this

Stake.com Hot wallet robbed for 40Million + usd  (Confirmed by stake)

But it's more on the general opinion when top casinos are hacked

 

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

If we take on Stake's case based on Cointelegraph news

drained funds may be the result of a stolen private key.

I don't think Stake uses only one wallet to store their funds I believe big casinos can still sustain but they have to go after those hackers.

 

- When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

They have to calm their players to keep the money flowing and stop the mass exodus of their players until they can't prove it.

- When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

They cannot stop the industry is looking into their action so even if something will hurt the operation they have to do something.

- Top casinos should be our priority because small casinos cannot operate normally after the hacking.

This has to be proven

 

-  Do you believe that there will be more hacking after the top casinos?

The gambling industry should now become proactive to prevent what happens to Stake

- Do you think gamblers will stop playing for the time being after this is all settled?

I don't think so, as long as the casino can assure that they are responsible for the safety of their players' funds

[retreat]

 - Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

That's right, usually big casinos have backup funds somewhere that they can use in times of emergency, for example hacking or other problems. And usually they also have insurance that will back up their operations. But in other conditions, if their financial condition has been chaotic since before, maybe they will immediately collapse.

- When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

Maybe when they say that users will be safe, it really is safe, or it's just an alibi to cover up that their internal state is messed up. No one knows what the casino platform says is true or not, so it all depends on the user whether they believe the statement from the casino platform or not.

-  Do you believe that there will be more hacking after the top casinos?

No single online platform is completely immune to hacking, even Google has been hacked several times. So the possibility that they will be hacked is there. But the concern here is the frequency of the hacks and how they deal with them, that's the main thing.

[Sim_card]

This is the problem with centralized platforms, they are vulnerable to attack because they love using hot wallets for their operations. This is also a lesson for us to learn from,those people that are still keeping their funds in exchanges because we keep on hearing of hacking news on centralized platforms.

- Do you think gamblers will stop playing for the time being after this is all settled?

Gamblers remains gamblers,if a casino cannot continue with its service after a hack,that doesn't prevent gamblers from gambling. There are other online casinos that is providing the same service and are still in business.

[coin-investor]

Even if it's not Stake the top casino in the industry can survive the hacking, they are not the top casino if they do not know that storing all their funds in one wallet is a big risk, if you're a big name in the industry you have diversified businesses portfolio so in case of failure from one venture they can still keep up because of the other ventures I'm sure they have something like emergency funds not really they expect hacking but on unforeseeable scenario.

In the case of Stake, I was worried but after seeing that they could manage I had a sigh of relief my only prayer is for them to recover the lost funds.
Stake, has proven why they are the leader in the industry.

[michellee]

- Do you think that big casinos can survive hacking because they have enough funds stored elsewhere

Big casinos can survive hacks and have enough funds to continue their operations.

- When they assured that users are safe do you believe it or is it just a way to keep their status in the industry intact

Its loyal users will trust it, especially if they have been operating for a long time and it rarely happens or has problems like this time. Hacking is a common thing that happens in casinos and on websites.

- When top casinos are hacked and they still operate and still  into their business without interruption do you believe that

As long as the casino can confirm that they are fine and unaffected by the hack and there are no problems with withdrawals made by users, that shouldn't be a problem either. They can still run their business well.

- Top casinos should be our priority because small casinos cannot operate normally after the hacking.

At least they are still operational after the hack and everything is okay.

-  Do you believe that there will be more hacking after the top casinos?

Yes, hacks will happen again and there will probably be more. For this reason, the security team from the casino must work as well as possible to protect the casino from hacking. And this incident will increase the vigilance of each casino to be even more careful.

- Do you think gamblers will stop playing for the time being after this is all settled?

Gamblers will not stop gambling because they still have other casinos on their favorite list. This will not affect gamblers.