I think you guys, especially the non gamblers in this forum, are overestimating how much revenue Duelbits generates. While it is true casinos are always profitable against players in the long run, their profit margin is very thin online. Taking Duelbits for example, for the average gambler who plays a good mix of slots (4% house edge) and table games (0.5%-1% house edge), their overall house edge is probably somewhere around 2%. After all bonuses/rakeback/lossback however, this number is closer to 1%, meaning 1M wagered will produce about 10k profit for Duelbits. If you take a look at the daily and weekly leaderboards on Duelbits, they probably get 10M wagered per week as a very optimistic measure judging by the top 10 in the weekly leaderboard, which falls off very quickly, which means 100k NGR (net gaming revenue). Keep in mind the top wagerers probably play a much higher percentage of table games vs slots, so this is a very optimistic estimate for Duelbits.

Out of this 100k, they have to pay 10k for the weekly lb, 5k x 7 = 35k for the daily lb. That's already 45k gone, leaving 55k left. This is not even accounting for the tournaments that they stopped running recently. Then there's the costs of staffing, providers (which is at least 10-20% of NGR based on stats from other casinos), marketing (streamers, twitter, bitcointalk, etc). Duelbits is barely profitable with the wagers they get and the promotions they run. I would even say they are losing money overall, which is probably why all this is happening. Someone also said Duelbits has not fallen off in terms of deposit numbers and wagers. This is not true. 1-2 years ago they got 5-10 times as much wager weekly. Their top whales all quit the site for some reason early last year, which was the start of the downfall of Duelbits.

I reckon they have been losing money for quite a while (which they can afford to since before last year they have had very profitable years) and were hoping the promotions and tournaments would pick up activity for the site (which didn't happen), but now they are ready to call it quits and cut back on costs.

I think you guys, especially the non gamblers in this forum, are overestimating how much revenue Duelbits generates. While it is true casinos are always profitable against players in the long run, their profit margin is very thin online. Taking Duelbits for example, for the average gambler who plays a good mix of slots (4% house edge) and table games (0.5%-1% house edge), their overall house edge is probably somewhere around 2%. After all bonuses/rakeback/lossback however, this number is closer to 1%, meaning 1M wagered will produce about 10k profit for Duelbits. If you take a look at the daily and weekly leaderboards on Duelbits, they probably get 10M wagered per week as a very optimistic measure judging by the top 10 in the weekly leaderboard, which falls off very quickly, which means 100k NGR (net gaming revenue). Keep in mind the top wagerers probably play a much higher percentage of table games vs slots, so this is a very optimistic estimate for Duelbits.

Out of this 100k, they have to pay 10k for the weekly lb, 5k x 7 = 35k for the daily lb. That's already 45k gone, leaving 55k left. This is not even accounting for the tournaments that they stopped running recently. Then there's the costs of staffing, providers (which is at least 10-20% of NGR based on stats from other casinos), marketing (streamers, twitter, bitcointalk, etc). Duelbits is barely profitable with the wagers they get and the promotions they run. I would even say they are losing money overall, which is probably why all this is happening. Someone also said Duelbits has not fallen off in terms of deposit numbers and wagers. This not true. 1-2 years ago they got 5-10 times as much wager weekly. Their top whales all quit the site for some reason, which was the start of the downfall of Duelbits.