What kills casino business very fast

[348Judah]

Gambler scan decided to continually attack a casino once they set it as a target to cheat them for exploits;  ts, it can also happen that this occurs in a natural flow whereby their vulnerabilities, even from the casino operators or bookmakers and the entire business, turn a loss for them instead of what they can easily maintain.

Sometimes there are also decisions for a change of hands, whereby a particular gambling casino is being transferred to another user or end operator to manage the casino; due to one reason or another, things may eventually end up being a failed attempt.

[davis196]

I was surfing the forum yesterday and I saw a lot of online casinos that's been promoted on here and they are not even working anymore or no one is talking about them, too many that I don't even know about.

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

How come a casino, that is "not even working anymore" is being promoted on the forum? There's a contradiction here.
Gambling is a competitive business and not all crypto casinos can be extremely lucrative. Every business requires patience, consistency and a big initial investment for advertising. Some crypto casinos simply don't have a big marketing budget, so they get destroyed by the competition pretty fast.

[YellowSwap]

As lucrative as casino business can sound in the ear it's still one of the risky ones out there, you can spend every penny and down the line sometimes bad happens, you don't get players for some reasons and you can't even cover for promotions anymore..

I think this is the case with so many online casinos while some also turned into scam, because right from the beginning they are trying to scam in the end , it was all planned out.

I think to get better experience about this you might need to get InTouch with someone who actually have operated a casino or atleast work in a casino before, it's not all lucrative business that's for everyone.

[Oshosondy]

Gambler scan decided to continually attack a casino once they set it as a target to cheat them for exploits;  ts, it can also happen that this occurs in a natural flow whereby their vulnerabilities, even from the casino operators or bookmakers and the entire business, turn a loss for them instead of what they can easily maintain.

They are centralized. Only valid attack will be about hackers to compromise the gambling site wallet. Other vulnerabilities like in games can still be overridden by the gambling site.

Sometimes there are also decisions for a change of hands, whereby a particular gambling casino is being transferred to another user or end operator to manage the casino; due to one reason or another, things may eventually end up being a failed attempt.

This is possible, but people sell when the business is not going good already, so the company that bought it may not also get it right. But businesses that I noticed that was bought because the owner saw huge amount of money to the point he was tempted to sell as he see it as a good deal, the new owners promote it significantly so that it will not fall and leading to success, but maybe not all the time.

[Donk1]

Well there are several scenarios that can possibly take place like take for instance the casino not having the right equipment to run their business, or they might go bankrupt due to debt ,or maybe gamblers have reported said casino platforms are not keeping to their terms. It's either the site goes down or they end up losing any chances of them building a real reputation. Perhaps we just have to bring up the fact that not everyone can fully run a casino and without the right minds, you will face several edges that will lead to a dead end. It's easy to say some even end up seizing players funds and going out of business. That's why to me I think it's good to gamble on reputable platforms that have lasted for a very long time, and also withdraw your payout the moment you win just  to avoid such events because anything can happen..That's all......

[avp2306]

I was surfing the forum yesterday and I saw a lot of online casinos that's been promoted on here and they are not even working anymore or no one is talking about them, too many that I don't even know about.

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Maybe you notice that thread activities collapsed and nobody discuss or posting there anymore right? but I think better not to get fooled on that. Because lots of casinos have a community on other social media sites.

If the casino still operating that means, they are fine and even if they stop their advertising they are still running a good business.

But if their site is inaccessible, that means they are done and no chance to conclude that they are going back. If new casinos want to learn from those situation , better to remain consistent with their ads and other promotional campaign, since this is so helpful to continue gaining exposure and success.

[Dr.Bitcoin_Strange]

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

There could be many other reasons that is causing it but I think the major issues that's affecting some of them is the inability to get the expected result, not being able to win against competitors and maybe regulations. Every business or company usually have the target revenue they want to make every month or annually so that they can be able to cover all their expenses and also pay themselves, but where they are unable to get the expected revenue, it can become a problem to maintain the business. Some of them didn't have the have the required capital to keep advertising their casino and so they didn't get much customer and they ended up losing the competition.

Take a look at the marketing plans of some of the popular casinos on this forum, take Stake casino for example, it's a popular casino that is widely known but yet, they are advertising in a lot of website, I usually see their ads in different website too including blockchain explorer. Irrespective of how popular they are, they still do many ads, so if a new casino will not keep doing ads, they likely will not get more customers and gradually the revenue will keep going down until they close down.

[maydna]

They can't make interesting promotion and beat by others so they lose the opportunity to have more members and make money. Perhaps that will not killing fast but slowly but if they don't wake up and change their promotion, that will end their business.

Mismanagement could ruin it all and instead growing the business, they will lose money and time. They should know that their casino are new and need time to grow so they must hard work by making continuous promotion.

[mitchr4]

Gambler scan decided to continually attack a casino once they set it as a target to cheat them for exploits;  ts, it can also happen that this occurs in a natural flow whereby their vulnerabilities, even from the casino operators or bookmakers and the entire business, turn a loss for them instead of what they can easily maintain.

Sometimes there are also decisions for a change of hands, whereby a particular gambling casino is being transferred to another user or end operator to manage the casino; due to one reason or another, things may eventually end up being a failed attempt.

Besides that, how they handle their money might also be a big reason. Many new casinos give big bonuses at the start to attract players, but without proper risk calculation so once many players claim the bonus and win, the cashflow gets overwhelmed. Also, if support is slow and not honest about withdrawal issues, the reputation gets bad quickly and players slowly move to other casinos.

[Alvin_talk]

I would say one thing that may be killing some casinos is lack of proper advertisement. You would see a casino come to this forum and in less than 2 weeks the advertisement campaign is over. In my opinion, that is waste of money. It is better not to even start a campaign or ad than just stay a week.

If you notice the online casinos that are doing very well today such as Stake, Rollbit, Duelbits, etc. They don't just come for a short term project, it is a long term project that may never end so long as the environment aligns with their target audience. I'm not particularly focusing on forum advertisement alone, even sports such as football and others, you could see how these casinos establish their presence through sponsorship ads.

I think if casinos intentionally advertise and promote their brands, the chances of failing is pretty low. Although there could be other factors as well.

[Rockstarguy]

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Bankruptcy, a hack, poor management decisions,s, and inexperienced operators and decision-makers could all contribute to the failure of running a casino to shutdown.

Before you embark on a casino business, you must ensure that you have the experience required so that you don't always depend on what others we do for you before you make any decision in it, don't trust people to the extent and be fully dependent on them on what could be done to achieve your business targets when you don't have a technical ability to how such procedure should go, all these have mentioned above are part of what contributed most to run down a casino business.

Apart from this, you have mentioned that reputation kills faster, and this is what some casinos don't even know. It might not even be a case of a scam but the greed of a casino. Some new casinos only think about themselves and do not consider their customers. When you look at the deposits and withdrawals of these casinos, you would see that they are only interested in making money.

When customers experience challenges with the casino, their service is very poor, and some even don't respond to complaints. Greed is also a factor in why many casinos die silently, because I believe the casino business is about providing service to customers, and they earn positive reviews in return, which contributes to the growth of the casino.

[Findingnemo]

I was surfing the forum yesterday and I saw a lot of online casinos that's been promoted on here and they are not even working anymore or no one is talking about them, too many that I don't even know about.

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Just like a player, a casino can also go bankrupt if someone got lucky and won huge amount of money. Just take a look at the BitVest thread where the casino is having struggle when someone won around 11 btc but it is by exploiting or not which is separate matter but when they have to pay huge sum as rewards then they are at risk of shutting down their business.

And sometimes regulators force them to go out of business or from particular regions which makes them not profitable and they decide to shut them down voluntarily.

[stadus]

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

Lucrative if you are the only one operating it, but now that’s not the case anymore since competition is already tight. It’s easy to create an online casino now and apply for a license, so there are already a lot of casinos operating online.

That means those who don’t really have enough budget for marketing will likely fail and won’t survive, because even one casino can already cater to a huge number of gamblers since the system is there. That’s why for a casino to last for a year and already become profitable, I would already consider that a success.

[Cointxz]

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Tough competition.

It’s hard to choose a small casino that offers nothing in return of our wager compared to some reputable casino that is consistent with their VIP benefits and bonuses to players.

This is the sad reality on casino business since money is everything. It will be very hard to attract customers if you can’t match other casino offer.

[Brizi5000]

I was surfing the forum yesterday and I saw a lot of online casinos that's been promoted on here and they are not even working anymore or no one is talking about them, too many that I don't even know about.

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Online Casinos are just like every normal business ventures or investments, the only difference is that those casinos are run online. It’s normal that a business or investment can fall, there are various reasons why there seems to be that some business or investment ventures do not stand to be successful on the long run. But that doesn’t mean others in the same line of ventures are not doing well. But above all a business or venture that is managed poorly and doesn’t have a clear and true vision/ goal will stand a chance of collapsing.

The fact that they’re not talking about most of them here anymore does not mean they’re not operational, they Only stopped advertising here probably they’ve gotten the audience and popularity they wanted and if need be for them to continue advertising here then they will.

[TedMosby]

I read some answers by SirJohnVonSlotty on his AMA thread here https://bitcointalk.org/index.php?topic=5482508, based on what I read, and ofc CMIIW, there are many factors that can make an online casino die.

1. Competition. Either you get eaten up by the competition or scammers.
2. Cost. A new casino with an experienced team still needs big money to start, 3.8M to 5M. And the casino starts becoming profitable in 14 to 18 months. If you build a new casino from scratch with a less experienced team, you will need more money.
3. Outsourcing. Smaller casinos usually use more outsourcing, which means less margin.
4. Big wins. Big wins are a magnet, need to be paid out, but are also crucial for the casino's bankroll. For example, 10 big wins within a week could give the casino a big problem.
5. OFC, bonus abuse. Nothing to explain. You all know it.

[Junii]

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

There are many factors but the one i noticed is a loss of trust. There are different casino's that give huge bonuses to the users also doing a lot of marketing i am not saying it's bad im saying keeping maintain it consistently is not a cup of tea for many casino owners because it is simple u give payments to the users on time don't stuck there withdrawls and the game they are playing feel like it is fair if they felt that the game they played is not fair and they smell some manipulation they will move to other casino because in the market there are many different casino and also it is a game of money so trust and reputation matters a lot in this.  Cash flow and other factors works as well in the casino long term survival but for cash to come a trust and reputation is very necessary.  

[Pi-network314159]

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

Yes Casino business is very lucrative but that doesn't guarantee that you can't run loss. Every business is profit and lose. When there is good management, it is profitable and when there is bad management, there is lose. So basically If there is loss, it is definitely poor planning and lack of good managerial skill that made it die.

My question is what is killing these online casinos?
For someone who wants to start running a new online casino, what is that one thing that can ruin it all?

Casino business need good marketing skill, like advertisment/promotion for people to be awear about it. There are already many casino available everywhere on the internet, the competition is massive and as a new casino owner you must have enough money for promotion and marketing for people to know about it,  if people don't know about it then how will you make profit? Remember more customers more money depending on how they lose.

Try to have good reputation because a little complain about your casino may dismiss most of your customer.

[Sanitough]

These days, that’s really the reality. I think we can say it was more lucrative during the early stage, like when dice was still one of the most popular games back then. But now even companies that were not originally in crypto have entered the space because they see the potential.

So if you are trying to run this kind of business without enough capital and without enough knowledge of how to operate it properly, maybe it is better to shift to another business instead of wasting money here. The market is already too competitive, and it’s no longer really for the small players anymore, it’s becoming a game for the big boys.

[stompix]

Since online casino businesses are so lucrative like many of us have agreed on here why so many of them just died out like that?

If all casinos were so lucrative, you wouldn't be seeing casinos going out of business.
There is a limited pot you can get, if 1 billion is gambled a day that is, it's either 100 casinos making one million on average or 1 million casinos making 1000 on average and not affording to pay their licenses and wages.

My question is what is killing these online casinos?

Greed.
Trying to get more faster by scamming people for their 100% rather than waiting for 99% RTP.