When an offshore casino shuts down, what happens to the players?

[coinlary]

Anything that makes a Cadino that's  shutting down not to announce their exit , means they are never going to co-operate. Its just like how Centralised  exchange works , the moment they make zero announcements before exiting , it means they want people to continue depositing,  they are ready to add that money to their exit plan.

Leave only the money you are using for gambling  on a casino, withdraw your profit from time to time. Unless a Casinos already have a big reputation they are preserving, they can decide to go dark at anytime, local or not .

[AmaGold70]

If you are using any overseas casino, and the casino eventually shut down, it is actually a very bad signal, and in a situation whereby it doesn't show up again, your money is definitely gone, in this case, it is more reliable to go for more trusted casino instead being referred to another casino platform that you don't really know about. Among these casinos overseas, there are really more reliable and trusted casinos every where, and and it is right for gamblers to research, and know the right one to use. We have had stories of casino sites shutting down, and never comeback again, gamblers do experience this , and is really something of great concern, and really requires carefulness from the side of gamblers.

[EluguHcman]

This is why as a gambler or a crypto investor, you should only keep what you can afford to lose in your gambling account or exchange account so that, if anything goes wrong and the casino halt withdrawal, you have nothing to worry about.

I don't think if every gamblers actually understand what that phrase of gambling with what you can afford to loose entirety mean because from the look of things and as we also discusses here, a lot of users think the phrase is all about the amount of money one can loose on their bets.

Of course it also a situation that keep us warmed that anything can happen to the casino such as it shutting down and disappears or keep us stranded from withdrawing our funds in the casino account.
So it is necessary to make withdrawals at any interval and should not have to store funds there like it is a platform to save your money.

[Patikno]

I came across this news about a casino that has already shut down, and here’s the interesting part. There are users from different countries including the Philippines, and instead of just leaving everything there, the site is also forwarding visitors to another platform called NNVIP88, which is not really known here in the Philippines.

There is also not much information yet if withdrawals there are being processed normally.

What I want to discuss here is the risk of trusting overseas casinos too much. When everything is working, there may be no problem, but once they go dark or shut down, they might not cooperate anymore and users could end up having their money stuck there.

Honestly, this is exactly what I am afraid of, and it is the reason I don’t keep my funds sitting on a casino site. After every gambling session, I usually withdraw any available funds immediately. Well, sometimes I leave a small amount in my bankroll, but only an amount I can afford to lose. So, that is why I think you shouldn't leave your funds sitting in a casino account either, especially not for long periods. Because, It is risky, whether due to a site shutdown like the OP mentioned, or the possibility of the casino going bankrupt.

We might still be lucky enough never to have encountered a situation; that jeopardizes our funds like that, but wouldn't it be better not to take the risk, right ? I don't know if the casino offers compensation for refunds in those kinds of situations. However, the risks or complexities remain, and you could potentially miss the withdrawal deadline, which makes it even more complicated.

[Perfectbaby]

There is also not much information yet if withdrawals there are being processed normally.

What I want to discuss here is the risk of trusting overseas casinos too much. When everything is working, there may be no problem, but once they go dark or shut down, they might not cooperate anymore and users could end up having their money stuck there.

From what I have noticed and understand here, this is simply telling us not to keep our funds on the gambling site. At least whatever amount that you won on the gambling site you should be able to withdraw them as soon as possible as anything could likely happened along the line.
However, this is very bad and before their closure there should be at least notice on everyone mails to make quick withdrawals and removes their funds on the gambling site before their closure could have sound Ideal.

[Odusko]

Something's that I pay close attention to when using a casino be it on shore or offshore casino is the ability to get contact with the dev team, or go through their license to know what verification level the team hard before getting the license, another thing is how their handle kyc if I am not asked or clearly stated means to verify my account, no matter the service. I expect anything to happen in form of exit or taking my account down at anytime., this is why I often use a very small amount of money on those casinos to avoid losing too much when such happen.

[sunsilk]

What concerns me if I have a balance and then a casino shuts down without prior notice and window for allowing me to withdraw my remaining balance there.

But I think if a casino shuts down and it redirects to another casino, it's possible that the domain has been changed/sold to the new one.

It's up to the users if they'll continue to go there but we've got a lot of options. And if that happens, we're not confident of continuing into the new one.

Even it redirects there, I won't put the same log in details on it because some might think that their login details have migrated to the new one too.

[Cantsay]

If they shut down and I can get whatever I had in my account from them successfully, and then they try to redirect me to a new site, there is a chance that I might consider the new site.

But if they just shut down and then don't create a chance for people to get their funds, then I don't think there's anything that can be done. The worst part is that you can't even push the matter because there is nothing for you to do; there are offshore casinos. This should be a warning to those who still keep an insanely large amount of money in their gambling account; no matter the type, the amount should not be too huge.

[Onyeeze]

Something's that I pay close attention to when using a casino be it on shore or offshore casino is the ability to get contact with the dev team, or go through their license to know what verification level the team hard before getting the license, another thing is how their handle kyc if I am not asked or clearly stated means to verify my account, no matter the service. I expect anything to happen in form of exit or taking my account down at anytime., this is why I often use a very small amount of money on those casinos to avoid losing too much when such happen.

can casino operate with illegal license, they should be a question we ask to casino owners, because if Casino have a license there is no thing to verify again except that the casino operate with illegal license, which I've never had such that casino operate with your unverified license, mostly many casinos does not have license to operate and yet people continue to patronize them especially people who always welcome a newly launched casino, even though Casino have a license and the license is legit gambling with it then with big amount of money is your own risk because they can lose it at any time, that is why you see many gamblers using what they can afford to lose to gamble so that they will not regret if they lose

[Versatile_choice]

If you are using any overseas casino, and the casino eventually shut down, it is actually a very bad signal, and in a situation whereby it doesn't show up again, your money is definitely gone, in this case, it is more reliable to go for more trusted casino instead being referred to another casino platform that you don't really know about. Among these casinos overseas, there are really more reliable and trusted casinos every where, and and it is right for gamblers to research, and know the right one to use. We have had stories of casino sites shutting down, and never comeback again, gamblers do experience this , and is really something of great concern, and really requires carefulness from the side of gamblers.

Aside from being careful, while making our findings we also need to look for those casinos that is licensed as this is one of the things that shows that a casino is trusted because a casino that is licensed can't do anything to harm people knowing fully well that they can report them if they don't work as expected. It's very hard to see a licensed casino shutting down unless they are being hacked or other related issues if not that, you hardly see such casino shutting down, the casinos that mostly shut down is those casinos that doesn't have licensed because they know they can do however they like and nothing is gonna happen.

[Bluedrem]

I think the casino site you mentioned is not professional because when they are closing the site, they should have informed the users in advance, at least 72 hours in advance, so that the depositors could withdraw their money, but instead of doing this, the casino platform should not have suddenly closed its own platform and moved the money deposited on that platform to another platform. The right to decide what to do with a user's money should have been left to the people who have the money.

[tabas]

What I want to discuss here is the risk of trusting overseas casinos too much. When everything is working, there may be no problem, but once they go dark or shut down, they might not cooperate anymore and users could end up having their money stuck there.

And not only about the money that every user has there but also the data, the kyc and every information that each user has complied for the verification. So, it's double thing for the users who will be left behind by the closure of these casinos. A sudden shut down is irresponsible way of doing business and I think that every user deserves to be informed when there's a closure or seizure or whatever happens to a casino that has a lot of users who have entrusted them with their money and documents.

[Silverstonez]

What I want to discuss here is the risk of trusting overseas casinos too much. When everything is working, there may be no problem, but once they go dark or shut down, they might not cooperate anymore and users could end up having their money stuck there.

This is the reason why I advise people to avoid leaving hudg amount of money in casinos,  so that when things like this happen it won't affect them that much.  Once an oversee casino shut down, and you have large amount of money stuck in there the possibility of you recovering your money is very small, unless the casino is being operated by people who don't want bear bad name, so they can decide to allow withdrawal for a few month before shutting down operations completely.

[DPHOR]

If the gambling site shut down without announcement then we can say that it is an intentional purpose because even though it was closed by a well know person, at least they could have distributed some form of information or notice to their users to have it at the back of their mind because that is only way they can know the casino that are very transparent without keeping in the dark without any words as there are some people who do keep reserve their winning back on their gambling account expecting to hit a specific amount before making withdrawal from the gambling site.

[IjawMan]

If I were you, I wouldn't just assume that my old balance is safe on the new platform just by looking at the redirect. I would first want to know if NNVIP88 has legally/contractually taken responsibility for Tether.bet's outstanding balances, or is it just marketing referral?

Except it is frankly stated on the old site that was shutdown before the moving of users accounts to the NNVIP88 stating that users balance would be reflected on their new casino. If I do not see any notice of that kind then I will not be expecting  a different platform to bear that burden. A simple thing that should have been properly done was to ask users to withdraw their money in account  aforehand to shutdown.

[Chibit01]

There is always a risk associated with leaving the balance in a casino not just the offshore casino, and  disappearing. There is no guarantee our money can be recovered by us.

If the casino itself forwarding the players to a new platform via their official social network then it means the casino run by the same individual but not regulated so they can operate without the restrictions imposed by government which can be risk free or high risk depends on the casino itself. I would not trust them at all and if needed you can try with a small amount and see if the process is fine or just wait for the casino to build their reputation under new name.

We don't just have to conclude, they might just be partners not really co-owners. If I'm in a situation where an offshore casino I use a shutdown. The the best which I will do with the redirected link once I gain access is to make a withdrawal request to see if it will be handled or if complaints will follow, as there are high possible of players being asked to wager their old balance in the new domain without being allowed to withdraw it directly.

[Sandra_hakeem]

I came across this news about a casino that has already shut down, and here’s the interesting part. There are users from different countries including the Philippines, and instead of just leaving everything there, the site is also forwarding visitors to another platform called NNVIP88, which is not really known here in the Philippines.

There is also not much information yet if withdrawals there are being processed normally.

What I want to discuss here is the risk of trusting overseas casinos too much. When everything is working, there may be no problem, but once they go dark or shut down, they might not cooperate anymore and users could end up having their money stuck there.~

I would recommend the following strategy of dealing with such casinos. If they returned you all your money that were on your balance on the platform that shut down and they are forwarding you to another platform, it probably wouldn't hurt trying that new platform out. I mean, they proved their honest by returning you all your funds, so, why not trust them? BUT, if they are forwarding visitors to another platform, while their previous users were scammed ... Well, I think it's pretty obvious how you should view them.

The problem is, let's assume the host casinos has probably been serving you for a long time, and after several warnings to shutdown (which I believe should have been included), they try settle everyone equally. Now they're referring you to another casino that you don't know--- that you got referred by them doesn't mean they are liable should any damage or case of fraud occur right? So why should I trust that process?

If they shut down and I can get whatever I had in my account from them successfully, and then they try to redirect me to a new site, there is a chance that I might consider the new site.

It depends on the condition. If they still run the new site then that's obviously not a problem.

[r_victory]

Perhaps this is the way they've found to continue operating. Without knowing if their users managed to withdraw their funds by contacting them as instructed, it's impossible to have a definitive opinion. The other site is mentioned as a partner, which to me means it's from the same group. There are several sites with the name NNVIP88, in addition to the Filipino one, and apparently they are casinos as well (I didn't click on any, so I'm not sure).

[Cantsay]

I think the casino site you mentioned is not professional because when they are closing the site, they should have informed the users in advance, at least 72 hours in advance, so that the depositors could withdraw their money, but instead of doing this, the casino platform should not have suddenly closed its own platform and moved the money deposited on that platform to another platform. The right to decide what to do with a user's money should have been left to the people who have the money.

Professional or not, there is a possibility for something like this to happen, a company could be battling with bankruptcy and still keep their users in the dark and then just come out one day and tell you that they are shutting their site or in worst case scenario, you could just log into their site and get a notification that they are no longer active and since they are not registered in your country and are offshore, theoretical you could push for your money but that doesn't guarantee that you would be getting it back tho.

[Hispo]

Anything that makes a Cadino that's  shutting down not to announce their exit , means they are never going to co-operate. Its just like how Centralised  exchange works , the moment they make zero announcements before exiting , it means they want people to continue depositing,  they are ready to add that money to their exit plan.

Leave only the money you are using for gambling  on a casino, withdraw your profit from time to time. Unless a Casinos already have a big reputation they are preserving, they can decide to go dark at anytime, local or not .

Even if the casino had a solid reputation and they had a good apparent liquidity, I would not risk to leave much money sitting on their wallets for a long period of time. Same with exchanges.
Most of the times those entities do not have any legal representation on our third world countries and if something happen to them, we would be pretty much counting on the good will so we can have full access to our own money at soon as possible.
It is better just to deposit what we plan to gamble and withdraw when we feel satisfied with some occasional win on casino games.

It is that simple, actually.