Nothing lasts forever in our world (except for human stupidity, of course, but we will not make spiteful comments about it). As in any other fields of business, new gambling portals that periodically appear in online gambling and old websites stop operating. Sometimes even popular and flourishing casinos with many active customers shut down their activities completely.
Why does this happen? What makes operators close down their facilities? And what should the gamblers do if their favorite sites have announced the shutdown of activities? Users can find answers to the questions mentioned above and many other questions in our article below.
Let's emphasize the basic reasons for closing online casinos.
Laypersons believe that the gambling business is an inexhaustible source of easy money. However those who know it from the inside will confirm that:
Not all casinos bring profits.
The phrase "If you want to beat a casino, you should firstly buy it" serves as a convincing argument in the disputes of housewives, but it is far from reality.
Websites that offer gambling-related services can shut down due to several kinds of reasons.
Websites usually go bankrupt due to several reasons, but all of them can be limited to the lack of professionalism in the management team.
Acquisitions and Mergers
The fittest is survived not only in the jungle or in the ocean. In the gambling business, the same law is valid. Huge corporations acquire small gambling operators killing two birds with one stone: they purchase an established business and remove a competitor. In such situations, they often shut down acquired casinos, and their customers are transferred to another gambling house on favorable terms.
The similar things happen when two companies join forces and launch a joint gambling portal instead of the two former ones.
In such situations, users usually do not lose anything. Moreover, they can receive additional benefits. It is only necessary to carefully study the new rules and conditions, because they can differ significantly from the old user agreement.
Sometimes online casinos completely change the title, design, a set of games, bonuses, and a range of other services. This may be due to the changed owners or an intention to start everything from scratch.
We recommend that you should figure out the motivation of operators. Perhaps they have been accused for a long time of fraud, refusal to provide bonuses or cheating with bonuses. Under such circumstances, many casinos try to cover tracks by rebranding.
To put it simply, rebranding is not always bad, but you should stay alert.
Firstly, you should find out the official version by contacting the support service for clarification. Then read the comments under the review published on the Casinoz portal, ask questions on the forum, search for information using Google and Yandex. Sometimes it is possible to find very interesting information about the casino owners.
The number of fraudulent online casinos has been significantly increased in the last ten years. Licensing and controlling authorities are trying to put things right in the industry. Regulators are more scrupulous in issuing permits, and governments of different countries pass laws that regulate the activities of online gambling portals.
The Casinoz portal and other sites dedicated to gambling help to fight unscrupulous gambling operators. We provide reliable information about casinos that do not pay out winnings, cheat with bonuses, send spam, offer pirated software, or are involved in any other kind of fraudulent activities.
Such activities cause considerable problems to scammers. They lose the credibility of potential and real gamblers, remain without customers and have to shut down compromised casinos. Of course, most of such operators run several gambling sites at once and make rebranding without any problems in order to cover up the tracks, but sooner or later the truth comes out.
If you trust your funds to a casino from the "black list", and it will stop its activities, you most likely have to say goodbye to your money. It is almost impossible to find justice. Thus, you should not deal with such gambling operators.
Many articles on the Casinoz portal deal with the methods that allow recognizing fraudulent online casinos. Let's enumerate their main features:
We recommend that users should read the casino reviews published on our portal. Experts from Casinoz describe in detail all pros and cons of gambling houses. It is also recommended to pay attention to the opinions of gamblers available under the articles.
Sometimes online casinos are closed down only in certain countries and regions. This happens if gambling houses were originally opened with some violations of local laws or when the government tightened the legislation.
Reputable gambling portals always return customers their funds in such cases.
Changes in the licensing conditions
Gambling regulators often increase fees charged for licensing. If the fee for licenses rises sharply, gambling operators may find it unreasonable to keep casinos operating.
Reliable portals will never steal money from their clients.
Tips for Online Casino Customers
Unfortunately, gambling sites can be closed. None of the fans of gambling is immune to such situations. To be protected against financial losses at least partially, follow the advices of the Casinoz reviewers:
See how the wind blows and you will notice the first signs of a collapse. This news will not appear out of the blue sky. As soon as you have any suspicion about problems in casino affairs, stop making new deposits and withdraw money from the account leaving the amount you need to make bets.
How to Return the Money?
Reliable operators return customers their funds available on their accounts, but it is quite difficult to withdraw the money left on the account.
If you fail to get your money, address the lawyers who are specialists in this issue.
The best way to avoid being deceived and to feel yourself protected from risks is to gamble at large online casinos with long history, perfect reputation, and high levels of service. They don't offer the most favorable conditions, but you can be sure that they are not fraudulent.
Have you ever found yourself in such situations where your money has been frozen on the casino account? Have you succeeded in returning your funds? Share your experience with readers of Casinoz in the comments.
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