Two More Sweepstakes Casinos Announce Shutdowns: The Money Factory and CoinFrenzy

Two Sweepstakes Casino Operators Announce Closures

Two sweepstakes casino operators, The Money Factory and CoinFrenzy, have announced shutdowns within days of each other, according to Covers.com. The outlet reported that The Money Factory closed abruptly on August 9, 2026, while CoinFrenzy said it will fully cease operations on September 25, 2026, after already halting the sale of new coin packages.

Sportsbook Review reported that visitors to The Money Factory's website found its login page replaced with a closure notice, giving players little advance warning before access was cut off. Sweepsy.com similarly described the shutdown as sudden, noting that the announcement came with minimal lead time for account holders.

What Happens to Player Accounts and Balances

According to Sportsbook Review, both operators have stated that existing player accounts, balances, and pending redemption requests will be preserved despite the closures. However, neither company has disclosed the number of affected players or the total value of unredeemed balances, per the same report.

CoinFrenzy's approach differs somewhat from The Money Factory's in timing. Covers.com noted that CoinFrenzy has given players a window running through September 25 before the platform disappears entirely, whereas The Money Factory's closure took effect immediately on August 9.

Part of a Broader Industry Contraction

Covers.com and Sportsbook Review both frame these closures as part of a wider contraction across the sweepstakes casino sector. The reports note that the announcements come weeks after VGW said it would shut down LuckyLand Slots, and that the industry continues to face state-level bans and legal challenges, including a lawsuit filed by Baltimore naming several major sweepstakes operators.

Sweepsy.com echoed this framing, describing the closures of The Money Factory and CoinFrenzy as the latest examples of operators exiting the space amid tightening regulatory scrutiny in various states.

What This Means for Players

Will I still be able to redeem my balance from The Money Factory or CoinFrenzy?

According to Sportsbook Review, both operators say player balances and pending redemption requests will be preserved despite the shutdowns. Players with active accounts should watch for official communications from each platform regarding redemption timelines, since neither company has published specific figures on affected balances.

How much time do I have before CoinFrenzy shuts down?

Covers.com reported that CoinFrenzy plans to fully shut down on September 25, 2026, and has already stopped selling new coin packages. Players with CoinFrenzy accounts have a window before that date to review their balances and any pending redemptions.

Why are sweepstakes casinos closing right now?

Covers.com and Sportsbook Review both connect these closures to broader regulatory pressure on the sweepstakes casino industry, including state bans and lawsuits such as Baltimore's suit against several major operators. These closures follow VGW's announced shutdown of LuckyLand Slots, suggesting operators may be reassessing their presence in certain markets as legal scrutiny increases.

What should players do if their preferred platform shuts down?

Players should check official notices directly from any platform they use for specific redemption instructions and deadlines, since reporting on The Money Factory and CoinFrenzy has not included detailed figures on affected accounts. Anyone concerned about gambling-related habits amid these industry shifts can contact 1-800-GAMBLER or 1-800-MY-RESET for support. Sweepstakes casino play is intended for those 18+ (21+ in some jurisdictions).