Rollbit, a relatively new cryptocurrency-based online casino, is facing allegations of operating without a valid license.
The company has attracted the crypto community’s attention, which has expressed concerns regarding the platform’s license status. Rollbit has issued a statement addressing the matter in response to these concerns.
Examining Rollbit’s Expired Crypto Casino License
Rollbit claims that its license is currently undergoing an annual renewal process, which is standard for Curaçao-licensed platforms.
The firm emphasized its ongoing communication with the licensor. And the implementation of minor user interface changes based on their recommendations. Rollbit also stated that it has gone through the same renewal process every year since its inception to maintain the standards of a licensed casino.
However, inconsistencies have been found between Rollbit’s claims and available information on Curaçao casino licenses.
According to software supplier and aggregator for online casinos Slotegrator, Curaçao’s sub-licenses are valid indefinitely as long as the master license remains valid for five years. This contradicts Rollbit’s claim of needing to renew their license annually.
Furthermore, crypto and finance researcher FatMan shared a conversation with Rollbit’s support team. The company initially claimed that the missing license information was a “UI issue.” Still, the crypto influencer found this explanation to be unconvincing.
FatMan suggested that one of Rollbit’s new games might have upset the regulator.
An anonymous casino owner told BeInCrypto that Curaçao allegedly does not disable gambling licenses during renewal. The crypto community has voiced this, leading to accusations that Rollbit is lying to its users. This information raises questions about the integrity and legitimacy of the company’s operations.
Adding to the controversy, there have been claims that Rollbit is engaged in unethical practices by providing fake balances to influencers. This alleged scheme allows influencers to showcase large winnings using house money, luring their audience into gambling through affiliate links.
Critics argue that this practice is a form of fraud, as it hooks unsuspecting players and generates risk-free revenue for the casino.
As the allegations against Rollbit continue to unfold, it is crucial for crypto enthusiasts to conduct their research and exercise caution when engaging with online gambling platforms.
The outcome of this situation could have significant implications, highlighting the importance of transparency and regulatory compliance.
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