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I am sure i'm not alone when it comes to thinking how we would do things different when we see how some businesses are operated. Even going into a new restaurant for the first time. The decor is awesome and the money invested is enormous. The dinner comes and the food is horrible! Why would any restaurant invest in this kind of place and drop the ball when it comes the most important thing.........the food!
The same thought process goes with casinos that are rogue. First of all they are building such a bad reputation for themselves that there business is declining. Or is it? Is there that many gamblers out there that they are unaware of what crooks they really are?
Wouldn't it be wiser to operate a legit honest casino and make a lot more money instead of trying to rob players blind? To own an operate a casino takes a massive amount of money. I'm curious to know who makes more, the rogue casinos or the reputable ones.
What in the world is their thought process to scam players. And as they build a bad reputation for themselves they continue to operate the same way. Players go in with big bucks, i would think they would want to keep them.
Any thoughts as to why they operate like this and don't work at trying to change their ways?
It has to be the lure of quick money. As for why? Who knows ... a casino should always make money in the long run as we all know that the odds of the games are in the casino's favour. So why go rogue and rip people off? Simply put you make money quicker with a a house edge of 100% rather than 5%.
The problem is, why don't the absolute criminal joints like Cool Cat, Virtual Casino etc go out of business? I think its a combination of things:
1. Players who don't win never find out that they are so horrible. The casino keeps taking their money, they lose, redeposit again and are none the wiser. The players only ever find out when they win and try to withdraw.
2. Many rogue casinos have an obvious strategy which revolves around issuing far more bonuses than a legitimate casino could ever hope to offer. This sucks new players in, in a never ending cycle of thievery.
3. Casino "review" sites who are happy to recommend any old casino as long as they are paid for referring players.
4. Their reputation can get so bad that it would not make sense to go straight. If the Virtual Group was bought by 32 Red, sacked all their staff, and got licensed in Gibraltar I would still blacklist them. And players burnt by them would never go back anyway.
5. Locating themselves in places like Costa Rica or Belize makes them almost untouchable legally.
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This is a question I asked myself many times. Why take the wrong way and do things illegally, putting an end to your investment within months, when you can earn much more in long term? Easy money can be one of the reasons. And stupidity combined with laziness can be another. Do you know any smart person who would refuse to operate a steadily successful business, and opt to trick and rip off many people, risking legal actions (depending on where they're registered), just to take a handful of money on top of their initial investment? I certainly don't, and I'm afraid I'll never understand the people who do so.
"So why go rogue and rip people off? Simply put you make money quicker with a a house edge of 100% rather than 5%."
Are you saying that if a casino is not rogue then they only have a 5% edge? Rogue or not the casino has the edge no matter what. A casino don't have to be rogue to make big bucks. Its' the greedy casinos that don't know when enough is enough.
Yes that's right. Just an example number - online slots have roughly on average a payout rate of around 95%. So the casino is earning 5c on each dollar wagered across all players. But if you don't pay anyone that wins then you're earning 100% right?
Or you can pay some winners and string the others along for so long with BS excuses that they get annoyed and forget about it, or play their balance down to zero - that is the Cool Cat, Virtual Casino etc method of choice.
And you're exactly right that you don't have to go rogue to earn money with a casino. But you see people every day who do things for a quick gain at the expense of a long term gain. Sadly though there are a number of "successful" rogue operations that have been around for years and keep sucking in new players all the time. The sad truth is that for some of these criminals ... crime does pay.
Why are their not tighter reins on these type of casinos where they are licensed? This would have to mean that they are just as crooked. Handing out licenses like a person hands out lollipops to kids!
It just stymies me that in our world in this day and age of regulations and controls, that these kind of operations can't have the gavel thrown down and fined or better yet closed down.
How did this happen to slip through the cracks with no legislation to kick in and say ...."ya know what your outtta here!"
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