Are you worried the casino you are interested in might close? We wouldn’t be! It is extremely rare that a casino actually shuts down, especially without sending their users elsewhere. The risks for you, as a player, is low, especially if you play at licensed new casinos.
However, not all casinos survive the extremely tough and competitive iGaming market. Some crash and burn, others are merged with a bigger and better brand, and as such disappear. Below we will cover some of the most frequently asked questions about closed casinos, and showcase just how many of the casinos we review actually end up closing their doors.
All Closed Online Casinos
Every time we are informed a casino has closed their doors it will be added to this list. Please be advised that our internal algorithm will still rank them by when the casino review was first published, not when the casino in question closed. This does, however, mean you will get a relatively clear idea of how few brand new casinos actually end up closing down. You may be surprised by just how short the below list is.
- Accepts a good range of cryptocurrencies
- Fast withdrawals
- Generous rewards program
- No welcome offer is available
- No live chat function
- 20 No Deposit Spins
- Top-notch casino games and promotions
- Low minimum deposit
- High wagering requirements
- No phone support
- Ability to win up to 500 spins
- Generous promotions & loyalty program
- UK-licensed online casino
- High wagering requirements
- No live chat feature
- No match deposit offers
- Superb welcome package
- Generous loyalty scheme
- Top-notch game suppliers
- UK players may not be accepted
- Help pages are sparse
- 1500+ Quality games
- Generous welcome package
- Interesting VIP Program
- Not many jackpot slots
- No bingo rooms
- No phone support
Why a Casino Would Close?
Very few casinos actually close their doors, but when they two there are only two real reasons why it would happen:
- It goes out of business
- It merges with another casino
In the first case, it is quite straightforward: The casino is either not making enough money to keep afloat, or; they are hit with major fines they cannot deal with. As more and more of the industry gain licenses and strict regulative bodies, we have seen more and more major fines given out. This trend will likely continue, and as such more new casinos may go down in the future.
In the latter case, of one casino merging with another, it may not even be a case of a failing casino. Large casino brands frequently buy up casinos with solid user bases, and in some cases, it is to get the users. In other cases, it will be a poorly performing casino within a larger casino group, which is simply swallowed up by a better/newer casino.
The good thing with mergers is that you as a player will still have your account, full-time employees to contact and a lot more safety. Licensed casino operators that shut down will however usually give their players a period to withdraw their funds.
Is It Common For a New Casino to Close?
It is incredibly rare that a brand new casino closes. The majority are set up by experts, who know how long they need to make a loss to actually get up and running. They will have secured the investments needed, and be fully set for at least 1-2 years.
A quick glance on the list above should also showcase just how few casinos end up actually closing their doors.
The majority of new casinos do not close, even if they do not do overly well, as they are part of larger networks, and are thus easy to manage and keep up to date. It has also become easier and easier to even keep up an independent casino with a skeleton crew. These things combined means that even the less popular casinos have a chance to be around for a very, very long time.
How Many Casinos Close Every Year?
You will get wildly different answers to this question based on which market you are in and what type of casino you are looking for. In terms of the casinos we have reviewed, we typically only see about 5-10 casinos close every year. This is a remarkably small fraction of the casinos we cover, especially when keeping in mind that the majority are not from the current year.
What to Do If Your Casino Closes?
The first thing to do, when you see the message, either as you sign in or in the form of an email, is this: Don’t panic! Read the instructions carefully, and see what is actually happening.
If it is simply a merger no action on your part is even required, however, if the casino is closing down completely you will need to get your money out in a timely manner. See what the deadline is and abide by it – by which we mean: get your money out as fast as possible.
Remember, there are always more and better casinos out there. We review all new casinos that are released every year, and most of these are completely stable. You can also get a bit of a “pick me up” by grabbing a new casino bonus and get started in style.
- Do not panic!
- Find a new casino
Best of luck!