Greed or Stupidity? Why Do Some Online Casinos Throw Away Everything Overnight?

[shanz]

Ever heard of an online casino vanishing overnight? Although rare, there have been cases where shady online casinos shut down without warning, leaving players locked out of their accounts and unable to withdraw their funds/winnings. (Actually, I haven’t been through this myself, but I’m sure some players have)... Well! What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

[Oshosondy]

Maybe because someone won huge amount that the gambling site can not afford to lose. Or maybe the site is just a scam site and decided to exit when many people have money with them.

Make sure the gambling site have license before using it.

I have used 3 local gambling sites and some foreign gambling sites ,all of them are still working till today. I was searching for only reputable gambling sites which are not new before I have account on this forum.

After I have an account on this forum, I have used at least 5 gambling sites but I think I use more than 5. The five that I still remember are still in operation till today.

[rachael9385]

Ever heard of an online casino vanishing overnight? Although rare, there have been cases where shady online casinos shut down without warning, leaving players locked out of their accounts and unable to withdraw their funds/winnings. (Actually, I haven’t been through this myself, but I’m sure some players have)... Well! What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

First of all, a casino that intends to be dubious and dishonest would not stay around for a long time, these are the type of casinos that give excuses why gamblers can't withdraw their wins. They keep on posting them for days until they eventually vanish, this isn't really greed it is just a planned fraudulent scheme. I haven't gone through such situations before but I've heard of so many people that have been victims

[freedomgo]

It must be greed, plain and simple. If they really had a solid base of players, they wouldn’t need to vanish, they'd be earning daily without trouble. But when they suddenly vanish, yeah, they might get away with the money for now, but that’s already a crime  and sooner or later, both the authorities and the people they fooled will come after them.

That’s why it’s important to check the casino’s reputation before playing. These things usually happen with sites that haven’t built any real name or trust in the industry yet, so better to be cautious than end up one of their victims.

[X-ray]

Ever heard of an online casino vanishing overnight? Although rare, there have been cases where shady online casinos shut down without warning, leaving players locked out of their accounts and unable to withdraw their funds/winnings. (Actually, I haven’t been through this myself, but I’m sure some players have)... Well! What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

It's not pure greed. It's obvious that casino being built just to scam people. Leaving its users getting locked without able to withdraw is just proving the team behind this casino is scammers. The good thing i have never gone through this situation before, but i have ever seen plenties of scam casino promoted their scam service here, especially in the bounty thread.
They go away with the money after they got some gamblers deposit some money there.

[Emjay24]

Any casino that vanishes overnight is a scam platform, some platforms which are advertised by some Facebook and telegram fixed match scammers aren't casinos per say but scam sites positioned to wipe off users funds ASAP they deposit and play. Some casinos are just Ponzi scheme just like https://parimatch.ng which was a scam site parading as a meeting platform. I guess we should limit how we entrust funds into these new and not yet reputable casinos flying around. Most are just scammers nets in search of unsuspecting victims

[Pandu Geddon]

What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

If there is a casino like that, I am sure their goal is a scam. They have already made quite a lot from customer deposits, and all marketing costs would definitely be covered. It doesn't matter if they eventually shut down the casino and leave without notice, because their goal is indeed to cheat.
There may be other reasons related to large winnings from customers that they cannot pay. Usually, what happens is related to winning accounts, but it is also possible that the casino can stop operations. I don't know the exact reason, but if they come back online, they should resolve all previous issues first.

[Dr.Bitcoin_Strange]

That explains why they are called scams, they don't have any real intentions of running or managing a casino and they also probably don't have all it takes to run a casino, so when they start and do some marketing to gather customers, after they see much customers that have deposited up to the amount they wished to run away with, they disappear. After they have dispersed, you could think that you money is still on your account since it might be displaying right there but what you are seeing is just a picture, that's why you can't withdraw.

[Beparanf]

Ever heard of an online casino vanishing overnight? Although rare, there have been cases where shady online casinos shut down without warning, leaving players locked out of their accounts and unable to withdraw their funds/winnings. (Actually, I haven’t been through this myself, but I’m sure some players have)... Well! What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

Most of the time casino turn into scam because they are not profitable already. They are cutting their losses by collecting all the deposit money by players then runaway.

A profitable business will never turn into scam since who’s in the right that will turn away to a legit consistent profit instead of stealing players money.

Freebitco.in is the current example for this situation that already on the verge of sinking in even with solid reputation in the past.

[Lanatsa]

Ever heard of an online casino vanishing overnight? Although rare, there have been cases where shady online casinos shut down without warning, leaving players locked out of their accounts and unable to withdraw their funds/winnings. (Actually, I haven’t been through this myself, but I’m sure some players have)... Well! What makes these online casinos throw away their reputation and marketing investment like that? Is it pure greed, or something deeper behind the scenes? And have you ever gone through this situation before?

It's not pure greed. It's obvious that casino being built just to scam people. Leaving its users getting locked without able to withdraw is just proving the team behind this casino is scammers. The good thing i have never gone through this situation before, but i have ever seen plenties of scam casino promoted their scam service here, especially in the bounty thread.
They go away with the money after they got some gamblers deposit some money there.

When an online casino disappears overnight it’s usually not an accident or a sudden change of plans most times the people behind it never intended to run a legitimate platform in the first place their main goal from the start is to collect deposits build a little trust and then vanish once they’ve gathered enough money these are what people often call exit scams they create a good looking website with flashy promotions fake licenses and sometimes even staged reviews to look genuine then when users start depositing and winning they suddenly shut everything down.

It’s not just about greed it’s also about the way online gambling is structured some casinos operate in countries with weak or no regulations at all where it’s easy to set up a platform and disappear without consequences once they close the site the domain gets abandoned and the same team might reappear later under a new name doing the same thing again they count on the fact that most victims won’t know where to report or how to recover their funds. This is why checking a casino’s background is important before depositing anything players should look for proper licensing from well known authorities like Malta UK or Curacao and also check user feedback on trusted forums or communities a real casino won’t lock accounts for no reason and they’ll always have transparent terms about deposits and withdrawals.

[ZeroVinsonN]

You already used 'shady' so you shouldn't even be expecting that supposed online casino to be legit, they are most likely a scam and yes this happens, you open an account, deposit and then get logged out and your money is gone just like that, it's simple greed without wanting to genuinely work for money they decide to take advantage of someone else's hope to win or greed too, usually their odds are too good to be true which is how they are able to entice enough of a customer base before shutting down disappearing with everyone's money. Gamblers should be careful to no fall victim to sites like that or they will just keep losing.

[Maslate]

Some shady casinos can disappear overnight, and that’s definitely not what we’re after. Here on the biggest crypto forum, there are plenty of casinos with long-running threads and real user feedback, so by now, most of us already have a sense of which ones can actually be trusted when we just want to play.

Still, nothing’s ever 100% safe. It’s better to stick with reputable names, you’ll usually be fine that way. Just make sure to check their payout history, read recent reviews, and see how they handle withdrawals before putting in your money.

[rdluffy]

Are there any examples of casinos that have done this?
I'm trying to remember, but I swear I can't, hehehe

I've been here since 2017 and I don't remember
All the casinos I've used so far haven't given me any problems
I've lost money with exchanges that disappeared, but not with a casinos 

[danherbias07]

I have not yet experienced this "gone overnight" incident.

But when it comes to an online casino shutting down, I did have an experience. Yolodice was one of the reputable online casinos here in the forum, and they exited in a great way. They waited for all their gamblers to withdraw their money for 2 weeks (if I remember correctly), and they even extended it because they saw there were still funds that had not yet been withdrawn.

I respect them for showing they are trustworthy until the end, and if ever they come back, I bet many will support them here in the forum.

[_act_]

It must be greed, plain and simple. If they really had a solid base of players, they wouldn’t need to vanish, they'd be earning daily without trouble. But when they suddenly vanish, yeah, they might get away with the money for now, but that’s already a crime  and sooner or later, both the authorities and the people they fooled will come after them.

Not all of them that the authorities and the people they scammed will know, some will go and be lucky with it. That is the reason we need to use a license gambling sites instead. Some people will not know if a gambling site is licensed or not but they will just be using the gambling site. Sometimes we need to blame people also, they need not to be ignorant but avoid scam.

[dimonstration]

Are there any examples of casinos that have done this?
I'm trying to remember, but I swear I can't, hehehe

I've been here since 2017 and I don't remember
All the casinos I've used so far haven't given me any problems
I've lost money with exchanges that disappeared, but not with a casinos 

Betnomi is the most recent and popular casino that decided to closed their casino while their popularity is on the top. They have so many marketing promotions in the forum in both signature campaigns and sponsored events.

They suddenly close the website while there’s still a lot of user actively using it without any further notice.

They claim that the sudden change of ownership is the main reason for the closure.

[Odusko]

There is what we call exit scam, this is a way that a business after building trust among the community and gaining popularity and possession of players money, the quietly exit offline and never come back again, this is what it is and scammers will always act like that, some of the casinos will even become very successful but yet since their had plans of exiting and scamming everyone their will go ahead and do the scam.

[Accardo]

Betnomi is the most recent and popular casino that decided to closed their casino while their popularity is on the top. They have so many marketing promotions in the forum in both signature campaigns and sponsored events.

They suddenly close the website while there’s still a lot of user actively using it without any further notice.

They claim that the sudden change of ownership is the main reason for the closure.

Betnomi exit scam happened two years ago and most players had their money stuck on the casino. From the onset the casino looked shaddy, but they had the audience through some marketing on the internet.

[panjul07]

Are there any examples of casinos that have done this?
I'm trying to remember, but I swear I can't, hehehe

I've been here since 2017 and I don't remember
All the casinos I've used so far haven't given me any problems
I've lost money with exchanges that disappeared, but not with a casinos 

There were some reputable casinos but turned to be scam eventually, have you ever heard about SafeDice, PocketRocketCasino, Betking?
You can search their name in this gambling board and you will see the fact that casinos may turn into something unexpected although they were reliable and reputable enough.
There can be some other names but I cant really remember all of them, but this gambling board is more than enough to find such information.

[DaNNy001]

Maybe because someone won huge amount that the gambling site can not afford to lose. Or maybe the site is just a scam site and decided to exit when many people have money with them.

Make sure the gambling site have license before using it.

I have used 3 local gambling sites and some foreign gambling sites ,all of them are still working till today. I was searching for only reputable gambling sites which are not new before I have account on this forum.

After I have an account on this forum, I have used at least 5 gambling sites but I think I use more than 5. The five that I still remember are still in operation till today.

I don't think that there are casinos that are willing to throw away everything that they have worked for just because someone won a huge amount of money that might be too much to give out...if they are reputable they would give out the money to the user and work on getting it back, if they are not so greedy they are supposed to know that getting back that money is not a challenge to them, it's a casino after all