Is it possible for casino sites, betting sites or poker sites to go out of business? The simple answer to this question is yes. It might seem that websites like this are always earning money and as the old saying goes “the house always wins”, but there are many examples of sites like this that were terminated in the last decade.
There is more than one reason why poker sites, casino sites or betting sites go broke. Some of them are making bad investments. Others are creating poor bonus deals.
There are also situations when these sites were affected by something that was out of their power to change. In any case, we have created a list which contains 15 bookie, poker or casino companies that went broke.
- Get familiar with a few gambling sites that went out of business
- Learn more about their basic characteristics
- Find out what went wrong
The companies/sites we will reveal here were once quite popular among players. Most of them were available worldwide. From promising bookmakers to trendy casino sites, find our list of 15 companies that went broke or out of business.
1. 666Bet
Owner: The Hexagon Contracts Ltd.
License: Isle of Man Gambling Supervision Commission, the UK Gambling Commission
Founded: 2014
Gambling options: betting, live casino, casino
Terminated: 2015
It all started quite well for 666Bet, a promising bookie and casino site. The owners (The Hexagon Contracts Ltd.) have revealed their new casino in 2014 and appointed Harry Redknapp (former footballer and current football manager) as a brand ambassador. This is one of the bookies that have witnessed the highest growth in 2014.
In addition to sports betting, this site was offering casino games and live casino games. They have accepted players from all over the world although their main focus was placed on UK players.
In addition to their licenses issued by two reputable gambling authorities, 666Bet was known as a site where players can use different well-established and secure payment methods.
Unfortunately, at the beginning of 2015, players have started reporting problems with withdrawals which led to an investigation. It turned out that the director (Paul Bell) has made fraud and spent most of the money. He was arrested and the company was forced to close.
Many of their users have received compensation, but some of them were left without their money.
- One of the betting sites focused on UK players
- They had two licenses from reputable authorities in this field
- They were operating for less than a year
2. Canbet
Owner: Yin King Investments Ltd, Interactive Gaming and sports Group, Canbet UK Ltd
License: UK Gambling Commission
Founded: 1995
Gambling options: betting, live casino, casino
Terminated: 2014
Canbet was one of the betting sites and casino sites with the longest history. They have started operating in 1995. It took them a few years before they have become one of the leading bookies in the early 2000s. But, starting in 2005, their services have started deteriorating, but nothing suggested that they will end up broke.
So, what made Canbet close? It turns out that there were a few different things that affected the work of this site. For instance, there were many times when this gambling site was offering bonuses with wagering requirements and special terms that didn’t make much sense.
Some of these bonuses were too good to be true while others were designed to rip off players. In addition, Canbet users have started experiencing late payments, canceled bets without any specific reason and other things. As a result of that, this bookmaker was sold twice.
In 2014, this company owed more than one million dollars. No one wanted to buy this brand due to the size of the debt and the anger that many users felt. That’s why it was announced that the company is officially closed. This was another example of betting sites and casino sites that have started good but ended up in the worst possible way.
- A betting and gambling company with a very long history (since 1995)
- They were closed in 2014
- There were multiple reasons for their failure including unrealistic bonuses
3. Klaver Casino
Owner: Glimmer Ltd.
License: Malta Gaming Authority
Founded: 2012
Gambling options: live casino, casino
Terminated: 2017
Klaver Casino is one of the few online casinos based in the Netherlands which was affected by the strict regulations revealed in 2017. Namely, the Dutch Gaming Authority known as KSA has forced all Dutch-based online casinos and betting sites to terminate their activities dubbing them illegal.
It didn’t matter that Klaver Casino has a license issued by the Malta Gaming Authority. This online casino was established in 2012 and it had significant success among European players. Klaver Casino was a NetEnt-powered casino that had casino games from other providers too.
From online slots and table games to card games and live casino games, this gambling site was always ready to meet and exceed users’ expectations. They also had a special section dedicated to jackpots.
The professionalism of this casino was visible at every page including their support page where players could get answers to their questions or assistance in general. It is important to point out that Klever Casino has managed to pay all outstanding balances to their players. In other words, no one was left unpaid before this casino was finally closed.
- A Dutch-based online casino founded in 2012
- It was closed in 2017 without affecting players
- They had to close to the changed regulations of the casino market in the Netherlands
4. Tom’s Casino
Owner: MT SecureTrade Ltd
License: The UK Gambling Commission, the Malta Gaming Authority
Founded: 2016
Gambling options: live casino, casino
Terminated: 2017
There were many things that made Tom’s Casino a unique casino and one of them was the fact that this was the only gay casino in the world when it was founded in 2016. Of course, every user was welcome to join this site, but the design of this website was suitable primarily for gay users.
At the same time, Tom’s Casino was one of the casino sites with the shortest history in this market. They have started their operations in 2016 and closed in 2017. It’s interesting that they had two licenses issued by the two most reputable gambling authorities – the UK Gambling Commission and the Malta Gaming Authority.
The reason why this site was closed remains a mystery, but what’s known for sure is that no player was left unpaid. Tom’s Casino was offering access to online slots, video poker, and table games. They also had live casino games for their users too.
All these games were made by some of the world’s most famous casino software providers including NextGen Gaming, Play’n Go, NetEnt, Betsoft, and Microgaming. With a responsive design, a good selection of payment methods and great bonus offer, Tom’s Casino has grabbed the attention of the gay community, but unfortunately, this site didn’t last for a long time.
- The first and only gay-themed online casino
- Tom’s Casino was open for less than a year
- It had two licenses
5. Monaco Aces Casino
Owner: Pearl Aces Ltd.
License: Isle of Man Gambling Supervision Commission
Founded: –
Gambling options: live casino, casino
Terminated: 2014
It seems that adding the word Monaco in the company’s name didn’t help this casino site stay in business. After a few years of operation, Monaco Aces Casino went out of business. Established as a website with a beautiful responsive design, the main objective of Monaco Aces Casino was to attract players from Western European countries.
They didn’t accept players from the US, but a few European countries were excluded too like Belgium, France, and Denmark. Monaco Aces was known for their exclusive slot offer. They had dozens of attractive online slot games made by Viaden Gaming and Microgaming.
This website was offering different variants of blackjack, video poker and roulette too. For those who like live action, there was a special live casino section where players could enjoy a wide range of classic casino games. Until now, there is no official announcement about the direct reasons why this casino went broke.
They have first stopped accepting new players and after a while, they’ve paid what they’ve owed to the registered players and shut down the site. There are rumors that this brand can be revived this year, but it’s still not clear who would like to take this casino.
- Monaco Aces was closed in 2014
- There are rumors that someone wants to revive this brand
- This online casino has offered games made by Microgaming and Viaden Gaming
6. Casino Rijk
Owner: Aragon International Ltd.
License: Malta Gaming Authority
Founded: 2011
Gambling options: casino
Terminated: 2017
There are situations when betting sites and casino sites, as well as poker sites, go out of business simply because they were forced to stop their activities. Casino Rijk is another example of a casino that went out of business because the Dutch authorities dubbed their operations illegal under Dutch law.
Just like many other online casinos from the Netherlands, Casino Risk pointed out that they have a foreign license (Malta Gaming Authority), but this didn’t change the situation. They had to stop accepting new players and payout existing players before closing their site in 2017. So, this casino has operated for six years before it was closed.
In their offer, they had more than 100 casino games. Most of these games were online slots made by popular brands like NetEnt and NeoGames. Players also enjoyed a wide range of table games like roulette and blackjack variants as well as keno and baccarat. This casino site might not have live casino games, but they had instant games, scratch cards, and video poker games.
- A Dutch online casino site
- Closed due to legal issues
- They were offering more than 100 casino games
7. DOXXbet
Owner: DOXXbet Ltd.
License: Malta gaming Authority
Founded: 2007
Gambling options: betting, live casino, casino
Terminated: 2017
Sometimes bookies and casino sites have to close their operations even after years of hard work. DOXXbet is a good example of that. This was an online bookmaker and casino which was established in 2007. They had hundreds of users and they were open for ten years. In 2017, due to unexpected financial issues (they went broke) DOXXbet had to close.
Just like in the case of other closed sites of this kind, they have first started rejecting new player registrations and after a few months, they paid their dues and closed the site.
Some experts say that one of the reasons why DOXXbet stopped working was the fact that they were offering casino games made by just one provider – Novomatic. Before they have closed they’ve added a few games made by Thunderkick too, but we guess that it was too late.
Of course, this could not be the only reason because after all, they had a betting page where players could place bets on hundreds of sports events that had excellent odds. From video poker games and table games to video slots and live dealer games, DOXXbet had something for everyone when it comes to gambling.
- A Novomatic-powered online casino
- It was founded in 2007 and existed for ten years
- There are different reasons why they had to close
8. Terminal Poker
Owner: –
License: Malta Gaming Authority
Founded: –
Gambling options: betting, live casino, casino, poker
Terminated: 2016
The number of poker sites that have gone out of business is not very high, but the reason for that is simple – there are way more online bookmakers and casino sites. Terminal Poker was one of the popular poker sites back in the days.
In addition to the online poker room which was always crowded with people, they were offering live betting, regular betting, casino games, live casino games, and mobile poker. This was an all-around site for gamblers from all over the world.
Players could use downloadable software to play games or poker, but they could also play in their browsers. It’s difficult to say why this site went out of business. However, there are some experts in this field who claim that Terminal Poker feels like a victim to bigger sites.
Their only mistake was their inability to scale. The bigger players on the market have started buying smaller poker sites and there was no room for sites that wanted to play by their own rules.
- This was a popular online poker room
- They were offering betting and casino games too
- They have stopped working in February 2016
9. Double Star Casino
Owner: Double Star Ltd.
License: Malta Gaming Authority, Government of Curacao
Founded: 2015
Gambling options: betting, live casino, casino
Terminated: 2017
Double Star Casino is another example of a casino site that was playing all on one card – aggressive promotion. They have started as a small casino in 2015, but they have invested a lot in the promotion and special offers for their players.
Form free spins and special welcome bonuses to VIP club for the loyal players, they thought that they have found the right formula to keep players happy. But, at the end of 2016, this casino has started noticing negative results. They have tried to compensate this by adding new games and revealing new offers and deals, but they didn’t have success.
This is the reason why they have closed their site in 2017. Double Star Casino had an excellent selection of popular casino games made by well-known brands such as Microgaming, NYX Interactive, NextGen Gaming, and NetEnt.
This casino has a mobile-friendly design which means that every player had a chance to play table games, card games, slots, video poker games, and even scratch games on their smartphones and tablets.
- A casino site that had two licenses
- They had hundreds of games made by well-known software developers
- They were forced to close in 2017
10. Cameo Casino
Owner: 24hPoker Casinos
License: Government of Curacao
Founded: 2006
Gambling options: live casino, casino
Terminated: 2016
Sometimes, casino companies have unique ideas and they are trying to introduce something completely new on the market and this was the case of Cameo Casino when it was published in 2006. What made this casino unique is that it was designed for female users.
The creators have decided to create a site focused on female players, but it seems that this was their mistake. There are a few other casinos that have tried to target smaller groups of players without success. Anyway, Cameo Casino was founded in 2006 as a casino – designed by women and for women.
It had all the things that modern players can expect from an online casino – bonuses, many games, good support, and fast payouts.
It’s worth mentioning that this was a Playtech-powered site which means that it had an excellent design and provided access to many interesting and popular casino games. Before they have closed their site, they had more than 80 games in the offer and a few bonus deals.
- One of the rare casino sites targeting female players
- It was a site with a unique design
- They were operating for a few years before they went out of business due to lack of interest
11. Slotobank Casino
Owner: EveryMatrix Ltd.
License: Malta Gaming Authority
Founded: 2014
Gambling options: casino
Terminated: 2017
Slotobank Casino was founded in 2017 as a project created by EveryMatrix Casinos. This was a site which had a modern, responsive design ideal for players who wanted to use their tablets and smartphones to play attractive casino games without any hassles.
They have also managed to get a license issued by the Malta Gaming Authority. Before it was closed in 2017, Slotobank had more than 400 casino games in their offer.
These games were made by famous developers like Euro Games Technology, Betsoft, Microgaming, NetEnt and Play’n GO. Of course, most of these games belonged to the slot category, but they also had more than 40 video poker games for example.
Their selection of table games was decent too. The only thing that was missing here was live casino games something that most casino sites have today. This site also had excellent bonus offers especially welcome bonus offers which consisted of money and free spins.
There is no particular event that made the management of this site terminate its operation. However, a few months before they have finally closed, there were many dissatisfied users with different problems that had to wait for many days to get their issues resolved. This made many people lose trust in this site which eventually made them run out of business.
- This casino site existed for three years
- It had an MGA license
- Slotobank Casino users had many complaints before the casino was closed
12. UltimateBet
Owner: Cereus Poker Network
License: Kahnawake Gaming Commission
Founded: 2001
Gambling options: poker
Terminated: 2011
UltimateBet was one of the most successful casino sites in the early 2000s. Established in 2001 with a license issued by the Kahnawake Gaming Commission, this site became especially popular among US poker players. They had different variants of poker in their offer including Omaha High and High Low, Texas Hold’em, HORSE poker, Seven Card Stud High and High Low, etc.
What made UltimateBet very interesting was the presence of a big annual live tournament which was part of the World Poker Tour event. They were sponsoring a few TV series and companies. Everything was going well for this site until the cheating scandal related to their upgraded software in 2005.
UltimateBet continued its operation for a few years after that, but they didn’t manage to recover. In 2001, the US Department of Justice seized their assets. Unfortunately, not all players managed to get compensation for their claims. It’s good to know that this scandal was linked to another cheating scandal involving a poker site ( Absolute Poker).
- This was one of the biggest cheating scandals related to poker sites
- This site existed for ten years
- It was focused only on poker games
13. Vegas to Macau
Owner: SoftSwiss N.V Casinos
License: The Government of Macau
Founded: 2016
Gambling options: casino
Terminated: 2016
Las Vegas and Macau are two great gambling destinations and that’s why the creators of this online casinos have used the names of these cities in their official name. Vegas To Macau was an online casino that had a good start. They have included many different games in their offer including a section dedicated to virtual 3D casino games.
Online slots, live table games, regular table games and other forms of casino games made by popular brands like SoftSwiss, Microgaming, Ezugi, and Betsoft were available to all registered players at this casino. Most of these games were adjusted for mobile users too.
The best part was that players didn’t have to download a standalone application in order to play these games. Unregistered players could try many of these games, but what’s more important is that registered played could grab many promos like a welcome offer or even a chance to win virtual items that you could trade for free spins.
According to some sources, Vegas To Macau Casino lasted for a very short period of time because they didn’t create a profitable bonus offer. They were giving out big bonuses in order to find new players, but registered players were there just to use the bonuses.
This casino site also accepted Bitcoin as a method of payment and the constant changes in the value of this cryptocurrency has also affected the site.
- An online casino that was available for less than a year
- They were affected by the changes in the value of Bitcoin and their bonus offer
- This casino was licensed by the Government of Curacao
14. 1x2Plus Casino
Owner: Qualibou Solutions
License: The Government of Curacao
Founded: 2015
Gambling options: betting, live betting, casino, live casino
Terminated: 2017
1x2Plus Casino was not like many other casino sites because it included interesting options for all types of gamblers – from betting and live betting to casino games, live casino games and virtual games. This site with a modern design was established in 2015 as a project that was focused mostly on European players.
It’s also worth mentioning that this site had a mobile version and instant play. Registered players that were using 1x2Plus Casino had an opportunity to enjoy hundreds of casino games. They were covering all the popular categories of games played in online casinos like online slot games, card games, table games, etc.
They even had a page where you could find a few live dealer games. Don’t forget that all these casino games were created by reputable providers like Portomaso Gaming and NetEnt.
In the first year, 1x2Plus Casino had a good start and attracted dozens of players. Everything was going smoothly and the players were paid in a timely manner.
However, starting from 2016 the first payment delays were reported on popular casino review sites. After taking care of all the unpaid debts, the creators have decided to close this online casino in August 2017.
- An online casino with multilingual support
- They were in this business for less than a year
- Poor management was the main reason why this casino failed to continue its work
15. Absolute Poker
Owner: Cereus Poker Network
License: Kahnawake Gaming Commission
Founded: 2003
Gambling options: poker
Terminated: 2012
Absolute Poker was one of the two poker sites that were part of the infamous Cereus Poker Network. Established in 2003, this was one of the first poker sites in the United States. Just like most poker sites at that time, they had a wide array of poker games in their offer including Omaha Poker, Texas Hold’Em Poker, Caribbean Stud Poker, Pai Gow Poker and few other variants of this popular game.
It’s also good to point out that they were throwing tournaments from time to time. In 2007, Absolute Poker was accused of cheating by a few poker players. They have shared their experiences on a few online forums. This cheating was not very sophisticated.
Namely, their management had so-called superuser accounts that gave them an opportunity to check the cards of other players at the virtual tables.
As a result of that, the site had to refund around $1.6 million to players. The site was also fined half a million dollars. After that, this poker site lost its reputation and even though it continued working, the number of players was significantly lower. They have terminated their operations in 2012.
- Absolute Poker was founded in 2003
- This poker site was fined $500.000 for cheating in 2007
- They were working until 2012
