Read the story and draw your own conclusions
Cryptologic claims they are the Rolls-Royce of online gambling and they ask the licensee to pay for a Rolls-Royce, and pay the very high cost of running a Rolls-Royce, but all he gets is a Volkswagen!
Licensees using other software than Cryptologic, often pay three to five times less, but make ten to thirty times more money. The figures speak for themselves. Why pay so much more, to get so much less?
The licensee support is extremely weak, virtually non-existent. A real pain. A licensee can expect to be intimidated and seriously threatened by Cryptologic. The company feels they have all the rights and the licensee none.
A licensee should also expect to see the name of Intercasino, a casino owned by Cryptologic, inside his own version of the software. Cryptologic is so proud to have $ 50 million dollars in the bank, but they wouldn’t hire a 16 years old to check the licensee’s software. Why remove their own names, it’s all free advertising for them, a pretty shocking practice!
Their standard license agreement is the most unfair we have seen in the industry. A large number of clauses are clearly abusive and illegal, and will not stand up if challenged. The agreement is drafted to protect Cryptologic and not the licensee.
The financial arrangement for the licensee is the worst we have seen in the industry. The licensee basically works for Cryptologic and gets a small percentage in return for its efforts, because Cryptologic controls everything, which is a bad thing for a licensee.
The figures for processing the credit cards, refunds, charge backs, financial charges etc...... are the worst we have seen in the industry. The refunds and charge backs are particularly suspect. Either, there is something fundamentally wrong that justifies these extremely high
figures, or the company simply can’t resist to make more money!
To aggravate the situation, the license agreement holds the licensee responsible, when in fact, he has no control whatsoever over these operations which are carried out exclusively by Cryptologic, and without the licensee having any opportunity whatsoever to control what is going on.
What Cryptologic is in fact saying is: We insist on doing everything ourselves, you stay completely out of it, but if we do something wrong, you are responsible for what we did.
Their method of reporting some very limited figures to the licensee is the worst we have seen in the industry. The whole concept is primitive, and particularly suspect for its integrity.
Figures are not available in real time, but only the following day after their offices open!
Cryptologic made a number of substantial promises they didn’t keep. They also misrepresented some important facts.
The management of this company is highly emotional, insecure and irrational. They worry so much about everything, and over react to small problems until they become major issues. The danger of this insecurity is that it leads to wrong decisions.
The legal structures are not good, they should not resist the first serious attack.
We received a large number of complaints from players and they are justified.
Cryptologic’s customer support is very poor, getting worse.
Cryptologic’s success is based on Intercasino.com which is owned by the company at least at 85% if not more. The other 15% is owned by Bill Scott, a not very reputable person who financed Cryptologic when they started.
The success is based on the "abnormal" profit margin of Intercasino.com compared to a real licensee.
If a licensee takes everything into consideration that is required to make an online casino a success today, he simply can’t do it with the "abnormal" profit margin and set up offered by Cryptologic.
For a licensee, from the outside, Cryptologic looks good cosmetically, superficially, they appear to have the best games, the best of everything. Reality is a totally different thing.
We don’t expect that the situation will improve as the company is under pressure to show better figures.
The fact is that most other game developers offer substantially better deals than Cryptologic.
Source of this article: http://GamblingMagazine.com and http://CasinoMagazine.com
