Two online sweepstakes casino sites announced their closures in mid-August, but in very different ways. The Money Factory announced an immediate shutdown on August 9, 2026, without the standard wind-down procedure.
On August 13, CoinFrenzy announced a phased wind-down timeline that gave customers several weeks to wrap up their activities on the site. Here is a rundown of both exits from the sweepstakes casino niche.
The August 9 email to customers said that day would be the final day of operations with no grace period for active gameplay. The active site’s homepage displayed a notice stating, “The Money Factory has ceased operations.”
In the announcement, the site said it was not accepting new registrations, purchases, or gameplay. The homepage also states, “All player accounts, balances, and pending redemption requests have been recorded and preserved.”
Saying it is conducting an orderly wind-down, The Money Factory told players to direct inquiries or requests to [email protected].
It added, “Players with pending requests do not need to take any action — your request and your account records are on file.”
So far, players have not reported on social media that their redemption requests after August 9 have been denied. Players’ response to the announcement was overwhelmingly negative, and many customers do not expect resolution anytime soon.
Even before the shutdown announcement, redemptions were reportedly slow. One Reddit thread and several TrustPilot reviews stated before the announcement that prize redemptions took between 140 and 245 days.
Automated AI templates tell users their redemption requests have been “escalated,” but the player community is skeptical that will be the case.
The community is discussing class-action lawsuits after the latest announcement, while ClassAction.org began gathering potential litigants in the months before the site’s closure.
CoinFrenzy’s wind-down process is more structured. From August 11 through August 13, CoinFrenzy posted an on-platform announcement and emailed customers about its sunset timeline.
The final day to buy coins was August 11. The last day to redeem coins will be September 25. Player accounts will not be migrated to a new site, so they should redeem prizes before the announced deadline.
Here are the important dates for the CoinFrenzy wind-down process.
The player community has been less hostile toward the CoinFrenzy process. Players expressed relief about the structured wind-down period while comparing it to the Money Factory case.
The consensus among CoinFrenzy customers who posted about it was that it was not a surprise, given the number of states passing bans on sweepstakes casino sites. Earlier this month, VGW announced it would close LuckyLand Slots, Chumba Casino’s sister site.
LuckyStake also closed earlier this month.
Previously, players had criticized some of CoinFrenzy’s terms of use. The playthrough requirement on certain sweepstakes promotions was 50x the promo amount. Some offers also had a 7-day expiration date.
Players still interested in playing at online sweepstakes casinos beyond these closures will have to look for alternative sweepstakes casino sites like The Money Factory and CoinFrenzy.
Possible alternatives may include similar sites likes Pulsz or Stake.us, for example. However, the availability of legal alternative sites will vary, depending on the state. For those located in a state with recent restrictions on sweepstakes casinos, social casinos could be the best option.
