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Online casinos that went bankrupt - how is it possible?

Online poker sites and casinos are assumed to be always generating millions of dollars in profits. Its rare for a gambling business to incur losses because the odds are always stacked against the players. Over the past decade there are casinos and other betting sites that have gone broke. we'll review some of the online casinos that went bankrupt - how is it possible? Online casinos such as the redslots casino are businesses structured to make huge profits. Casinos have many customers and the nature of the business enables them to make millions in revenue. In the few cases where online casinos make losses you find that there were poor investment decisions, other had unsustainable bonus deals while others may have found legal operating environment unbearable.


666bet started as a very promising online casino and a betting site though it operated only for a year. it was founded in 2014 and closed shop in 2015. The casino had massive growth since its foundation and offered its customers three main gaming options; casino, betting and online casino. The online casino was more focused on customers in the united kingdom. 666bet had been licensed by UK gambling commission and the Isle of Man Gambling Supervision Commission. Unfortunately, players started raising concerns over problems they were experiencing when withdrawing cash from the online casino. Consequently, investigations were launched. The company's director was arrested for fraud and misappropriation of funds. Some gamblers never received compensation as the casino was forced to close.


Canbet was among the oldest online casinos with a great history by the time it was closed down in 2014. It was founded in 1995 and it took several years before it became a leader of the industry in early 2000. This casino had the best bonus deals in the market. As early as 2005, its services are said to have been deteriorating. Canbet introduced unrealistic bonuses which were termed too good to be true. Some of the bonus terms were designed to rip of its customers. Such terms drove gamers away from their casino. Customers started experiencing delays in payments. Some of their bets were getting cancelled with no reasons given. The company started making loses and it was sold twice before closing in 2014.

klaver casino

klaver casino was founded in 2012 had enormous success especially among European players. The casino offered players with various gaming options from table gaming and online slots to live casino games and card games. The casino was always ready to meet the needs of its customers and by the time is closed, it managed to pay all their customers klaver casino was among the few casinos which were based in the Netherlands. The Dutch Gaming Authority made the operating conditions unfavorable for online casinos by changing regulations terming their gambling business illegal. Klaver casino had been licensed by Malta Gaming Authority and that didn't matter and consequently it to closed among other online casino companies in 2017.

online casinos that went bankrupt - how is it possible?

In some cases the online casino businesses have closed down not because of their inability to successfully run their operations in the market but because they were forced to close. This was the case with several betting and casino sites in the Netherlands in 2017. Casino Rijk was another casino affected when the Dutch law dubbed them illegal.

Monaco aces casino

Monaco ace was established as a casino with the best attractive design in the market with an aim of attracting western European customers. The casino didn't accept American players and excluded players from some European countries such as Belgium, Denmark and France. The casino was well known for its exclusive slots offers. Their online games were made by microgaming and viaden gaming.


After years or even decades of hard work, bookies and online casino sites are forced to close down their business. Doxxbet operated for a decade from 2007 and it had hundreds of customers. The company is said to have experienced unexpected financial problems which made their operations difficult and they closed in 2017. The casino paid all its dues before closing down. Just like other online casinos who have closed down, Doxxbet started by rejecting new customers and after a few months the company closed. Financial experts in the casino business have associated Doxxbet failure to the fact that the company relied on games made by a single provider. It had diversified on the games it provided by the time its was closing.

online casinos that went bankrupt - how is it possible?

Online casino business is lucrative and it mostly generates thousands of dollars in revenue in rare cases some of such businesses have gone bankrupt and closed down. This is because of unexpected financial crisis, unrealistic bonuses, withdrawal problems and fraud. Other reasons are unavoidable such as unfavorable government policies. Gamers have lost their money in cases where online casino close unexpectedly.