Endings are always sad and tragic. And that is also the case when it comes to casinos that are no longer with us. Whether it is financial issues, legal obstacles, or other unfortunate events, it is always sad whenever a casino leaves the industry. Especially when these closed casinos were an integral part of the industry and contributed to the joy of many players. Regardless of the reason for closure, closed casinos serve a valuable purpose. To teach upcoming and already-existing operators a lesson on what to avoid if they want to “survive” this industry. The competition in the world of online casinos is frighteningly fierce, and this refers to both the quantity of online casinos and the budget each of these operators has at its disposal.
Being different and standing out from the crowd is a difficult endeavour in the world of online gambling, especially if we consider that there are literally thousands of online casinos from all corners of the globe. While for most players it is more than enough for the casino to have rewarding bonuses and promotions, the fact is that it takes much more than bonuses and promotions to successfully operate an online casino. In fact, being considered cutting-edge and one of the best in the business requires real omnipotence in several key aspects. Whether it is the design, the license/security, the quality and quantity of the entertainment, or even seemingly trivial matters such as the customer support team, if a casino wants to succeed, it must maintain a perfect balance between all of these matters.
This is why we feel that it was absolutely crucial to create this section. Not just because we want to keep track of which online casinos are no longer active, but because these operators serve to teach a valuable lesson. And this applies to even companies and individuals that are not part of the iGaming realm. Everything has an expiry date, and even the best of the best can suddenly meet their demise if they are not careful. Especially online casinos, which are facing a plethora of persisting problems on a daily basis. This, paired with bad management, inability to recognize the needs of your players, and ill-intentions, are a sure recipe for the downfall of all businesses, not just members of the volatile world of online gambling. Many of these closed casinos were once aspiring operators that had a long list of customers. However, as we said earlier, the world of iGaming is constantly evolving and changing, and failure to adapt can be detrimental in the long run.
Even more, if we take into account how many online casinos there are out there. This is why knowing your players and the market that you operate in is vital if you wish to remain in this business for a long period of time. The big dogs of this industry manage to stay on top for decades due to their willingness to do whatever it takes to keep the players happy. Whether it is a new visual upgrade on the website, new payment methods, new bonuses, or improved security, one thing is certain. You have to spend money, to make money, and this is the number one reason why so many casinos close shop.