Bitcoin Forum

There is a fixed withdrawal fee of 0.006 at cloudbet. is this normal?

yes due to the requirement by miners in order to get the transaction go faster even there are only ~4000 unconfirmed transactions as of this reply is posted, everyone is posting a higher transaction fees. unless the majority is lowering the transaction fee to use bitcoin, the .0006 fee is normal.

Can I choose not to pay it and willing for my withdrawal to be delayed?

most of the gambling site has fixed transaction fee which is always required, and if your amount of withdrawal is not enough is even delaying your transaction longer than you would expect AFAIK, for me i had experienced with normal fee, waited 40+ minutes for a confirmation.

Thank U

If you are not paying for transaction fee expect that your transaction will be rejected or stuck in the blockchain..
But honestly the fee 0.0006 is small amount compare before that transaction fee is almost 0.002 btc before but right now was reduce that i think we can save bitcoin right now and i think this is because of segwit activation.. 
And the transaction fee is just a normal for any business. .

Yep.

Any Bitcoin service which holds your Bitcoin will usually charge you a fee for withdrawals, since the transaction fees are so high right now. I wouldn't think too much of it, unless they're charging you more than you actually pay in fees. Which is kinda sus if they're running a book.

For a sportsbook - no. It's not normal. They are skimping on the fees.

Its on normal range which means it just fine and they would really impose tx fee because if they would decide to have it free then they will surely compromise their profits. This fee also fasten up the transactions and this is just really a common thing on using bitcoin on gambling field. Dont be on doubt that they are milking you.  ;D

Most of bitcoin sportsbook are don't have withdrawal fee imo, like nitrogensports and sportsbet.io that don't have a fee for withdrawal your coins. It's normal if the gambling site is dice site or casino, but for sportsbook, i'm not okay with it. Btw, are you sure the fixed fee is 0.006 ? It's so damn big dude.

It is normal ,every service that you been using has a withdrawal fee but it only different in bitcoins or altcoins because its not fiat but that fee is for miners .
Once you agree to use any service which usina bitcoins or altcoins have a fee so prepare for every transaction or assume the less amount you will going to fee before you can withdraw any amount.

Yes it is normal to have a withdrawal fee so that your transaction will be completed these are actually miners fee. Miners are the one who mine your transaction so if you are not willing to pay it then your withdrawal will not be successful.

Most bitcoin sportsbook that I use doesn't have withdrawal fee (nitro,lootbet,coinbet,sportsbet)  so my answer for your question is no. Having a small miner fee on your withdrawal request should be fine and this would help because on sportsbook that doesn't charge you for fees they sometimes use a small fee which makes your bitcoin stuck for hours/days

For sportsbook, most of them doesn't charge us for the transaction fees. And for dice sites, we have to pay it by ourself. Usually there will be an option to us on how much fee we intend to use. The higher we pick the faster our transaction will be confirmed.

Yes that's normal these days and it's a fees that they don't take it's for the miners nothing new in this. Like for eg if you transact your coins, pay someone I mean you need to pay fees and that's been happening for quiet a while now, maybe you didn't notice, or maybe they decided to pass the buck back to you rather than paying it themselves, can't blame them.

To me the fee seems unusually high I think it is missing a zero instead of the fee being 0.006 I think the op meant 0.0006, the former fee is very high I have never paid a fee that big, the latter is a lot more common if you want a fast enough confirmation from the miners.

Usually most BTC books have a withdrawal fee from your withdrawal but 0.006 seems to be insanely high. Usually it would be something around 0.001 and a maximum of 0.002 to cover miner fees for the fastest possible confirmation time.

my answer is that is not normal because i have recently checked cloudbet term of service that minimum withdraw is 0.001 btc and for those who want withdraw their fund 0.001 btc i think they not to willing pay 0.006 btc for the fees and probably they will think twice to use this sportbook however i wonder that where did OP get this info

I don't think you've posted right amount charged for a transaction fee, it's 0.0006 btc. i wouldn't play at sites where they charge outrageous amount for a transaction fee. 0.0006 btc for a transaction fee is normal.

I equally thought the same its just a typing error, 0.006 withdraw fee can chase away its small time gamblers who most of the time are the majority and this withdrawal fee from CB is news to me because the last time I visited cloudbet this wasn't imposed, I probably should visit these sites more often.

I haven't used cloudbet but it is normal for any gambling site or any exchange to have a fee to send funds to another address. It's just a standard practice that is due to the fact that it requires work for the miners to move the funds and they are supposed to get paid a little for moving the Bitcoins.

The thing that does vary I think is the amount of the fee. I think some sites and exchanges may charge a smaller fee than others. If you are moving a small amount and the fee is fixed, then it could be a lot of money relative the what you are moving.

Agreed but they could have variable fees where you can choose the amount that suites you best and the corresponding time it might get confirmed. It shouldn't be a law for everyone because not everyone considers 0.006 BTC a small fee.

Not really speaking of gambling sites out there yes they surely charge a transaction fees from there gamblers every time they place a withdrawal but in sports betting sites i have rarely seen any site charging any fees from it's customers. This will surely not be in trend in future but utilise it until they don't disable free withdrawals

It should be charge because its for miners fee when transferring or withdrawing bitcoin from sports book.
And i think there is no sports book that your miners fee is free unlike before that you can transact your bitcoin for free without paying miners fee but right now because of the price increases they are asking for a fee for every transaction..

It is normal for every sites to have a withdrawal fees, because it is the miner fees in order to get the transaction confirm on the blockchain, I don't think there would be much sites out in the market that are willing to pay the miner fees for their customers, as this would incur a huge cost for the site owners in the long run.

Agreed, but do you see that the fee for withdrawal is so damn ridiculous big ? Some gambling sites withdrawal fee is around 0.0003-0.001. But for 0.006 fee ? I guess the OP is typo on the nominal, but it's normal though for a gambling sites cost a fee to withdrawal your bitcoins.

I don't know about any sports book sites are sending withdrawals for free but fortunejack site send your money without deducting miner fee means the site is paying the minor fee. If you want to save that withdrawal fee, then you play on fortunejack site, and it is one of the best and trusted site on this forum. Except sports betting you will find many attractive games on this site.

+1 but for the fee, casino will not take any part as their commission, since they have gained from those consumers. if they impose the fee to the casino back, then it is ridiculous IMO.

I think this should be an option, the casino could pay the smallest fee so you can get your money out, but you will get a very slow confirmation, but if you want a faster confirmation then you can adjust the rate and pay it yourself, that should be a win win situation.

It might be normal as the price is seeing but I would say that if the withdraw fee were 0.002 then everybody would come here and participate while the withdrawal are too much so i think they are not even in completion level. So they need some improvement in their website to reduce the withdrawal fees because it would be more interesting if they withdrawal fees are reduce to 0.002.

Actually everyone stuck here that why withdrawal fees are very high in some sites as you mentioned some of them which is the highest one in them is 0.006 even I have seen the withdrawal below than 0.0020 So you are lucky that the withdrawal fees are still less than your thinking you should go for withdrawal if you want because it is really less amount to reach.

yes i can vouch that the withdrawal fee on cloudbet are 0.0006 (60k satoshi) not 0.006 (600k satoshi).

op should edited and make clarification before people come here and make a random posting/opinion . 0.006 are way too high for just a fee , 0.0006 reasonable as the network won't accept quickly anymore if you put 0.0001 (used to be free) , nothing wrong i guess.

Thanks for the clarification EdenHazard, That fee seemed to be very high, the higher fee that I paid was a 2.5 mBTC fee but that was because I had a huge amount of inputs and as we know that makes the transaction bigger and as such a lot more costly.

Even though, I feel its normal for them to charge some amount as withdrawal fee, but keeping it constant irrespective of the amount being withdrawn is my concern which means someone withdrawing 25$ worth of btc and another withdrawing 100$ worth will still pay the same thing, is not fair from my point to view rather a flexible one as well as the option of whether to go the fast track of paying the fee or the free one of waiting longer.

0.006 withdrawal fee is normal? Are you kidding man? Even for huge transactions that's very, very big fee. On bitsler there is 0.0002, 0.0004 and 0.0006 btc fee maximum and no one had problem on withdrawing many bitcoin. Why? Because there isn't need of more fee. 0.006 fee means that they don't want to let people withdraw their bitcoins. Imagine when you have 0.005btc and want to withdraw you can't because of 0.006 fee and you gamble again, that's trick....

I agree, 0.006 fee is huge. I paid around 0.0006 fee on my last transaction, and it was ready in about 10min, so it was a "high priority" fee. 0.006 is just to much, and it won't help the transaction any further, so it's just wasted coins. Hope they change that.

Having a fee is normal, but 6mbtc (0.006btc)? That's robbery right there! That's already profits that they are eating up especially for those non-high-roller gamblers (a.k.a the normal gamblers)! Maybe, there is an option for high priority or normal. But right now the fees are stabilizing and it is not that high anymore. So I think this level of fees are not anymore applicable and it should be lowered.

No it is not normal but are you sure its 0.006BTC in fee? Because from what I know cloudbet have minimum withdrawal amount of 1 mbtc which is 0.001BTC, lower than withdrawal fee so I think its 0.0006BTC. Anyway I have left them long time ago because they have lots of issues lately specially with withdrawals.