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?
Question Greed or Stupidity? Why Do Some Online Casinos Throw Away Everything Overnight?
- Thread starter Mikka
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- Oct 8, 2012
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- Derby
The ultimate bet scandal comes to mind here. Manipulating software, thieving directors and sheer greed were their downfall iirc
- Joined
- Feb 10, 2012
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- UK
In this case the brand disappeared, but the people involved didn't. They popped up in other places in the industry, sticking to shady deals and quick money.
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- Aug 28, 2009
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I forget the name of the white label, but Microgaming had a group that went bust in the early 2010's, but I can't recall exactly the year. I recall reading threads about it on the TwoPlusTwo forums. Some people had tens of thousands that got frozen (maybe even hundreds!).
At least with Black Friday, there was some sort of agreement (I believe) that if poker sites which were shut down by the DOJ paid player balances in whole, they'd be treated fairly. Who knows. I never got burned like that.
As to why it happens, again, regulatory enforcement (in the case of Black Friday). Sometimes, casinos just go out of business. Reputation means a lot in online gaming, and once something goes wrong between a casino and a player and the details come out, it can be difficult to recover, depending on what happened.
EDITING to add, Tusk Investments was the Microgaming white label. Google this to find the TwoPlusTwo thread: Microgaming poker scandal: licensee in liquidation, and poker players abandoned and owed $5.3M. And actually, I think it was about that time that I joined Casinomeister. Coming full circle, haha.
At least with Black Friday, there was some sort of agreement (I believe) that if poker sites which were shut down by the DOJ paid player balances in whole, they'd be treated fairly. Who knows. I never got burned like that.
As to why it happens, again, regulatory enforcement (in the case of Black Friday). Sometimes, casinos just go out of business. Reputation means a lot in online gaming, and once something goes wrong between a casino and a player and the details come out, it can be difficult to recover, depending on what happened.
EDITING to add, Tusk Investments was the Microgaming white label. Google this to find the TwoPlusTwo thread: Microgaming poker scandal: licensee in liquidation, and poker players abandoned and owed $5.3M. And actually, I think it was about that time that I joined Casinomeister. Coming full circle, haha.
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