Could Rollbit Have Been Operating with a Valid License?

Recent events surrounding Rollbit, a popular business in the online gambling market, have left the crypto community baffled. The accusations made against the crypto-focused gaming operator are quite weighty and might have far-reaching effects on the company’s credibility.

Inaccurate or Vague Licensing Info

The allegations that Rollbit is running its business without a legitimate license are at the forefront of the discussion. Rollbit, on the other hand, claims that the yearly renewal of their license is a typical procedure for Curaçao-licensed platforms and is now underway. It also claims that since its launch, it has undergone an annual renewal procedure designed to ensure it meets the requirements of a legitimate casino.

Critics, however, have cast doubt about Rollbit despite these assurances. There were discrepancies between what Rollbit claimed and what could be verified about Curaçao gambling licenses. For instance, the online casino software provider and aggregator Slotegrator claims that as long as the master license is still active after five years, Curaçao’s sub-licenses are good forever. Rollbit’s assertion that they must renew their license every year is therefore inaccurate.

An exchange between crypto and finance researcher FatMan and Rollbit’s support staff just adds gasoline to the fire of mistrust about Rollbit’s license status. At first, Rollbit blamed the lack of licensing information on a “UI issue.” FatMan speculated that the regulator’s displeasure was due to one of Rollbit’s new games, which raises even more concerns about the company’s methods.

Even More Problems

In addition to the licensing controversy, new reports have surfaced about the operator. Several people have complained that Rollbit is unethical since it gives influencers fake balances. In this claimed strategy, influencers utilize free money to demonstrate large wins, perhaps attracting their followers into gambling through affiliate links. Many people believe that this approach is unethical since it takes advantage of unwary players while at the same time providing the casino with risk-free revenue.

In a statement released in response to the situation, Rollbit said it was in constant contact with the licensee and had made some small adjustments to the app’s user interface per the licensor’s suggestions. Despite the company’s best efforts, they have not been able to allay the crypto community’s fears.

The crypto community has demanded Rollbit provide additional information to shed light on the matter, and some have even called for the firm to be shut down. The issue highlights the significance of openness and compliance with regulations in the online gaming industry. While the final resolution of this debate is still up in the air, Rollbit has more ground to cover before it can win back the confidence of the crypto community.