«»NEW«»Casinos Withdrawal Fees Rise (!?)|Sep. 2020«1Yr»Sep. 2021|2024!?

[Japinat]

But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea.

Exactly, all you want is to win, hence to minimize the expense in withdrawal fee, that will add on your asset side.

I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.

Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

[TopT3ns]

Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.

[Furious 7]

Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.

It's true this is an increase factor and all the networks are congested because people may be a lot of transactions, but now it's back to normal after I saw and used costs in the last few days, for example ETH has soared and now the gas is normal I think gamblers are already relieved that they are free to choose which altcoins they want to play with in their gambling.

But in gambling platforms the withdrawal is fixed at the cost so it will return to normal unless an option has been changed in changing the gas fee.

[Danslip]

Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.

Not directly related to price. It is due to a network bottleneck and it is possible also price climbs higher but the unconfirmed transaction was less than 5000. So the withdrawal fees will be as same as the previous day, the swap functions should be implemented for avoiding to pay the 10% of withdrawal amounts less than $20. Using altcoins is always a better choice for gambling, in my opinion.

[famososMuertos]

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Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

Now! It is not about "normality" so that the fees return to a minimum ratio of 1:10 if that is what is understood by normality, nor is it that the casinos want to profit from this (as someone comments), really more myth than truth at least in serious casinos with an excellent reputation.

Here it is not about "fees" cheap or that it is a high or low fee, it is about the correct fee, as I mentioned in some posts, it is about having the correct estimate or the closest thing to that and not simply charging a fee as high as possible so that the transaction runs in at least a few minutes.

The options of three types of fees high, medium, low or to be able to set the fee yourself are presented as the best.

[Japinat]

...//..:
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

Now! It is not about "normality" so that the fees return to a minimum ratio of 1:10 if that is what is understood by normality, nor is it that the casinos want to profit from this (as someone comments), really more myth than truth at least in serious casinos with an excellent reputation.

Here it is not about "fees" cheap or that it is a high or low fee, it is about the correct fee, as I mentioned in some posts, it is about having the correct estimate or the closest thing to that and not simply charging a fee as high as possible so that the transaction runs in at least a few minutes.

The options of three types of fees high, medium, low or to be able to set the fee yourself are presented as the best.

With that, I think we should just choose the best site that offers the right withdrawal fee for us, which is closest to the actual fee, however, there are really sites that their standard withdrawal fee is very high compared to the actual fee when transacting using your own wallet.

We can't say they are a bad site though as gamblers are more looking for the experience than the withdrawal fee, although let's say withdrawal fee can be part of the experience but for big bettors, it doesn't really matter a lot.

[famososMuertos]

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In effect, I think that a big player wants their money and pay their fee to get a quick withdrawal. The fees they pay can be a small part of their frequent bets but the point is that sometimes players few bankroll end up paying more fees because somehow or another they have to be moving their bankroll due to different circumstances between casino or personal situations, so if you consider the withdrawal and deposit fees in the average of one year, some players with small bankroll can be paying more money in a year if they make an average of "x" movements between withdrawals and deposits, in comparation to some players who actually manage several bankroll between different casinos.

And that is the point, it is not about a single shipment, it is about the total that you can make in a year, to indicate a certain time, but it can be measured monthly, quarterly, in any case it depends  on the players and their gaming activity.

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In effect, this is about the casinos offering LN alternatives, currently it is not for everyone in the sense of availability of BTC but at least there are already many users using LN. The version 4 or higher of electrum practically bases its update in improvements for of LN with electrum.

Haven't had to use Lightning, especially when mempool peaks really don't last long anymore, but yeah, with CG now adopting it, others are sure to follow suit. It's definitely not YET for everyone, and I daresay I'm on that spectrum of everyone that won't be risking payments with it until I'm certain of myself.

The only thing to add here is CG's LN service provider charges 1%... so if you use the current max deposit of 0.04 BTC... in effect you're paying a fee of 400k satoshi, which is still probably not what I'd have to pay even on peak.

It's perfect to deposit 1000 satoshi though;)

At the time I read it, it seemed to me that something was wrong because a rate of 400k "Sat" is not normal, but in reality I had read that some channels charge an average rate of 0.01Sat for each "Sat" sent, so I wanted to verify, a thread from my local board has served, but in any case it is important to clarify that it is not 400k sat but 40,000 Sat if we take the 1% reference.

Which is a more "acceptable" rate of $ 7.5 (+/-) compared to the 400k Sat mentioned, Anyway, thanks for mentioning this 1%.

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Bitcoin 24 Hour High: $18.936,62 USD - Low: $17.924,85 USD /Source:coinmarketcap.
fees  

[buwaytress]

At the time I read it, it seemed to me that something was wrong because a rate of 400k "Sat" is not normal, but in reality I had read that some channels charge an average rate of 0.01Sat for each "Sat" sent, so I wanted to verify, a thread from my local board has served, but in any case it is important to clarify that it is not 400k sat but 40,000 Sat if we take the 1% reference.

Which is a more "acceptable" rate of $ 7.5 (+/-) compared to the 400k Sat mentioned, Anyway, thanks for mentioning this 1%.

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Bitcoin 24 Hour High: $18.936,62 USD - Low: $17.924,85 USD /Source:coinmarketcap.
fees  

You're absolutely right, my mistake there. I was counting it on a max of 0.4 BTC, but the limit is actually 0.04 BTC, but still, 40k satoshi for a 0.04 BTC spend is still a LOT of sats. 1% flat fee makes sense for micro transactions but when you can still spend a 5000 sat fee for next block confirmation, then Lightning stops making sense if the tx is above 500,000 satoshi.

I know price of BTC is crazy right now, so that almost $10 fee is only worth for deposits of far larger than $1000 to me.

Thanks for the correction!

[Maslate]

.....so casinos better have fee structure which set fee based on the current network traffic not the fixed one.

They sometimes have fix fee but when bitcoin rises and fees increase, the fee will also increase but when it falls back, sometimes it's hard for them to adjust, what they are doing is all in their advantage, so you are right, it might affect their reputation, and personally I'm not sticking with that kind of site.

[Alucard1]

Yeah, that's true I also notice it in some sportsbooks on which it takes almost 1/6 of your total earnings, which is not that so good for every gambler and earner. I have experienced it once and I was shocked because of its transaction fees, I expected to receive $20 but almost only $15 I received from that transaction from the casino. The worst thing here is that when the value of the bitcoin pumps then the transaction fees will get higher.

[carlisle1]

Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.

You have a point there,why need to push withdrawing in High fees coin when there are altcoins that has Lower fee and also faster in transacting?

I use Doge wayback until i use Ripple in which always cheaper to withdraw,also there is Tron and some alts that will fit your desire in fees.

Yeah, that's true I also notice it in some sportsbooks on which it takes almost 1/6 of your total earnings, which is not that so good for every gambler and earner. I have experienced it once and I was shocked because of its transaction fees, I expected to receive $20 but almost only $15 I received from that transaction from the casino. The worst thing here is that when the value of the bitcoin pumps then the transaction fees will get higher.

maybe also because of the on going Bull that Bitcoin and some other coins are increasing in value?
but anyway like what i said above we still have options and can decide which to use for a certain time.

[peter0425]

.....so casinos better have fee structure which set fee based on the current network traffic not the fixed one.

They sometimes have fix fee but when bitcoin rises and fees increase, the fee will also increase but when it falls back, sometimes it's hard for them to adjust, what they are doing is all in their advantage, so you are right, it might affect their reputation, and personally I'm not sticking with that kind of site.

Actually I am suggesting the fee structure which keep adjusting to the actual memepool size so it keep changes after every block mined.

Good idea because Both will be having fair in terms of favors,Gambling sites will have a fair and regular structures and gamblers will also have basis in how much he needs to pay each time.
Not like now that we are being curious why the sudden fee goes up and down though we already has ideas since the Bitcoin and the market is gaining high value.

[dre1982]

The casinos should give the option to join a bulk withdraw  or you can do an instant withdraw with a high fee or you choose to he party of a bulk withdraw which will be done every 4 hours for a much smaller fee.

[ene1980]

But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea. I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.

The reason you will hear from casino who increased their withdrawal fees is that some users are taking advantage of the lower fees and using the casino as a wallet to hold your funds and then withdraw without even playing anything and i recently heard the same from Stake management that the reason for the fee hike is to avoid users like that and not to squeeze petty profit as some of the gambling sites are providing much bigger freebies and giveaways.

[worldofcoins]

Most casinos offer a fixed amount I never used other platforms due to their high withdrawal fee.
Whenever the price of bitcoin increases they charge more because they know people goona put more money due to the fluctuation of the market.
I think choosing the altcoin can also help to solve this issue. Like using ETH in gambling and convert them into bitcoin.

[famososMuertos]

But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea. I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.

The reason you will hear from casino who increased their withdrawal fees is that some users are taking advantage of the lower fees and using the casino as a wallet to hold your funds and then withdraw without even playing anything and i recently heard the same from Stake management that the reason for the fee hike is to avoid users like that and not to squeeze petty profit as some of the gambling sites are providing much bigger freebies and giveaways.

Nahh! noT really ... no "serious" casino does this to increase the fees to make a profit, they just want a high fee to avoid queues of waiting Txs and consequently annoying users, but they forget the correct fee.

In reality neither players nor casinos are interested in this volatility, we all want stable fees despite the sudden increases price bitcoin, that is why the good intentions of some casinos in implementing alternatives are appreciated.

Anyway; In the long run, a fee affects each player differently and in that circumstantial sense has a weight on their bankroll in terms of the frequency of withdrawals, e.g. $ 5 may not be a large amount to consider for certain players or in the frequency either, but that something like five withdrawals is pay $ 25 to the cause of a third party that does not represent the true value of what you should pay him

You mention that some are using casinos as wallets, it is an old practice that exists in the fiat world, in fact once I heard a professional player say that he felt safer with his money in the Red Spade than a bank. In that sense, some Fiat casinos offer a withdrawal at a certain percentage when the players have not made bets with their deposit, in the case of some crypto casinos they require at least 2x the deposit before withdrawing. (Reading ToS always avoids surprises)

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This topic arose with the direct objective of knowing the fees and having a history of their behavior in some casinos, but the opinion of the users has allowed to direct the thread to other related horizons allowing to grow in comments and knowledge, thanks to those who contribute their experiences to the Topic.

Please! not more recommendations of withdraw with the Alts, ty.

G.B.

[tyz]

Most casinos offer a fixed amount I never used other platforms due to their high withdrawal fee.

Good casinos do not charge any withdrawal fee. I have never gambled on a site long term if they charge any fees for payout. I mean, it is well known that online casinos are highly lucrative and if they also ask for money for the payout (admittedly, the fewest users pay out because the fewest win), then that is already an arrogance towards their customers. But it's also up to the users. Avoid such gambling providers and sooner or later they will change your fee policy.

[Hamphser]

Most casinos offer a fixed amount I never used other platforms due to their high withdrawal fee.

Good casinos do not charge any withdrawal fee. I have never gambled on a site long term if they charge any fees for payout. I mean, it is well known that online casinos are highly lucrative and if they also ask for money for the payout (admittedly, the fewest users pay out because the fewest win), then that is already an arrogance towards their customers. But it's also up to the users. Avoid such gambling providers and sooner or later they will change your fee policy.

There are some who do shoulder out the withdrawal fees but not all of them but doesnt mean that they arent good ones.Its just they cant really afford to add up into their expense on shouldering the fee into those withdrawal transcations and for those who does then thats one shows about generosity of the site because not all would be offering the same thing.For those places who do have static ones then it wont really be that appealing but for those dynamic which is understandable because of the market condition.It do all varies but i do much prefer on having an option neither you do want to have that
low to high priority type of fees for you to choose on which is a great thing or option for a gambler to have.

[Yamifoud]

But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea. I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.

The reason you will hear from casino who increased their withdrawal fees is that some users are taking advantage of the lower fees and using the casino as a wallet to hold your funds and then withdraw without even playing anything and i recently heard the same from Stake management that the reason for the fee hike is to avoid users like that and not to squeeze petty profit as some of the gambling sites are providing much bigger freebies and giveaways.

Only a few of them using that and just only those people who are doing illegal but I'd never think that normal/professional gamblers will do that. But I don't see this as a reason that it makes the price increase, this is just a normal scenario since before and when the price of bitcoin surge high, fees also moving high.
If we could find gambling sites that never ask for fees, that much better but just be sure that your funds are safe otherwise, it all be gone out of your control or at worse if they are asking KYC then because of suspicious transactions.

[Rodeo02]

There are some who do shoulder out the withdrawal fees but not all of them but doesnt mean that they arent good ones.Its just they cant really afford to add up into their expense on shouldering the fee into those withdrawal transcations and for those who does then thats one shows about generosity of the site because not all would be offering the same thing.For those places who do have static ones then it wont really be that appealing but for those dynamic which is understandable because of the market condition.It do all varies but i do much prefer on having an option neither you do want to have that
low to high priority type of fees for you to choose on which is a great thing or option for a gambler to have.

Yeah and sometimes network asked for high fees so idont think gambling website need to shoulder that fees just for the sake of players ,and more of them also want faster transaction if gambling sites shoulder it I am sure they will always choose the lower fees to pay .where sometimes takes time before you recieve it in the wallet and not all have that patience of waiting.

I am more favorable in own exchange convertion to other currency in gambling sites, so if other want to use low fees they can choose other altcoin instead of BTC .