«»NEW«»Casinos Withdrawal Fees Rise (!?)|Sep. 2020«1Yr»Sep. 2021|2023?

[Sebas.tian]

I hope the withdrawal fees will decreased because sometimes theit withdrawal fee is not good,  let say the bitcoin transaction rising but it doesnt mean that they need to rise the transaction a lot.  I use alternative altcoins such as Ripple so I can save money because if we use bitcoin for the transaction we lost some money so be wisely and choose casino who accepting altcoins and better to play now in that casino.

I switched to XRP for tranfsering between casino's and for withdrawing. I only withdraw BTC when I want to put it safe in a paper wallet. Last weeks I had a transaction which was stuck for 3 weeks and I don't want to have that again.

I guess the stuck transaction was done in bitcoin, that's one among other problem with this coin while gambling with it on the casinos, including the withdrawals. The above have made me switched from bitcoin to TRX, most of my gambling platforms am currently participating are those that accept altcoins which are far lesser in transaction compare to bitcoin.

[jaberwock]

Earnbet seems to be one of the cheapest ones out there. I feel like withdrawal fees are not as big of a deal as they used to be because we could always pick another coin that is very low on fees if we want to. I understand that many big places that accepts bitcoin only are in big trouble and that will definitely be a bit of a problem in the end, however I feel like there are a lot more places that accept things like XRP and Doge which is accepted in many places, so people could focus on things like that if they want to and remove all the problems with having high fee with coins like btc and eth. Obviously we would rather gamble with eth or btc if we could but it is not really ideal right now, but gambling with doge is already fixing a ton of problems so we are doing fine.

[nasipadang]

I also often wonder why there are such high fees. The only thing I can think of is that they work with certain companies that also want to ask for a commission.
And as for the bitcoin, that could also be, only you have the network costs. They are not capitals either, but still. If a casino had to cover the network costs of all payouts, it will be expensive.
Some casino's do, and some do not.

[FinneysTrueVision]

All the casinos seem to be using the same terrible fee algorithm. The mempool isn't even that backlogged and some places are still charging nearly $10. One of the problems is that people are paying crazy high fees to get quicker confirmation despite there only being around 10 blocks worth of unconfirmed transactions. This is driving up the fees for everybody who relies on an algorithm instead of looking at the mempool to see that it is not that full and you can probably go with a cheaper fee.

[Fatunad]

I also often wonder why there are such high fees. The only thing I can think of is that they work with certain companies that also want to ask for a commission.
And as for the bitcoin, that could also be, only you have the network costs. They are not capitals either, but still. If a casino had to cover the network costs of all payouts, it will be expensive.
Some casino's do, and some do not.

Only a few online casinos does offer free withdrawal fees and when the time comes where network is clogged up then they would really need to impose huge or bigger fees
unless if the do stick out on less then that withdrawal would take more longer and that will surely frustrate those users who are on that platform unlike for those who set
out fees which are dynamic ones then its expected that it will really be correlate on the current network congestion this is why i do really skip on making withdrawals or
even transactions neither on gambling or trading when this do happen.I do wait up for the network to relax a bit before proceeding.

[2double0]

High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.

[Lanatsa]

High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.

If a casino doesn't really have any option since they do only accept bitcoin and does only offer bitcoin then they would really be compensating for the fees since its been stated that it was free and they would really be adding up those to expense and when theres sudden fee price spike then they are much pretty aware of it.

It is indeed showing off some generosity but for those who do have options for people to switch up with altcoin then that will be a big relief to them since they wont need to pay up for something big
for a certain transaction buts that's only in "if" case. 

This is why I do stick with casinos with internal exchange set-ups.

[famososMuertos]

The history of the alts is already known, this history is well known and repeated, so there are few casinos that do not offer these alternatives, it is about bitcoin, the reasons are irrelevant, the reality is! you want to withdraw bitcoin these are the alternatives offered in these casinos.

...//...: but Crypto-Games doing Lightning Network is a very interesting development. Maybe we can all ask different casinos to do something about it too:)

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.

Roobet is offering additional alternatives in low, medium, high, when before it only offered a withdrawal fee.
_
Contrary to what one user mentions, I believe that casinos strive to offer the best withdrawal alternative, in fact a high fee only seeks to get your withdrawal processed quickly. What they must improve is that it be the best as appropriate.

This is the estimated fee, right now:



Source: https://mempool.space this page is for post purposes, only you can and should find the best information.

[Maslate]

High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.

That's a good option for a site that does charge a withdrawal fee, I really like the system of Betnomi as you can choose an altcoins with the lowest withdrawal feel, BCH and TRON were my favorites in that site. Anyway, for free withdrawal, I believe sportsbet have that, but don't know if they are still doing it at the moment that fees are really high.

[pankowri]

This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.

[TedMosby]

I used to play on an online casino that charge me $10-$20 Lol 
It’s not the fee but my bitcoin reduced by that amount of money.
Even the bitcoin price fluctuation would affects it lower than that.
Also, I need to pay for the fee too.
They have a “not-so-good” bitcoin price conversion.
I think an online casino should state it on their website about how they convert our money into btc, vice versa.

[buwaytress]

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;)

[bitbunnny]

High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.

This is one point of view and it makes sense, fees that are high enough are guarantee for quicker transactions.
But I don't think this is the only reason, it's also the way that casinos protect themselves through some kind of commission for their services. I also think that is connected with Bitcoin price and network fees. Anyway, it's the cost we need to pay when gambling.

[boyptc]

I used to play on an online casino that charge me $10-$20 Lol 
It’s not the fee but my bitcoin reduced by that amount of money.
Even the bitcoin price fluctuation would affects it lower than that.
Also, I need to pay for the fee too.
They have a “not-so-good” bitcoin price conversion.
I think an online casino should state it on their website about how they convert our money into btc, vice versa.

Fee for the commission of that casino and fee for the transaction fee of the transfer.

They will deduct it to your balance and will send you the net of your profits as you withdraw it. You should have asked their support how they're converting the prices or what price tracker they use.

[iamsheikhadil]

I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!

[nikola22]

This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.

if casino supports several cryptocurrencies you may choose the one with the lowest fees. for example, many casinos support TRX and fees for this coin are very small. and another example  - ETH with fees about $10 only in Ethereum chain 1.5 month ago.

[seleme]

I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!

Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.

[Oilacris]

This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.

if casino supports several cryptocurrencies you may choose the one with the lowest fees. for example, many casinos support TRX and fees for this coin are very small. and another example  - ETH with fees about $10 only in Ethereum chain 1.5 month ago.

Wayback on where ETH fees were up on the roof too which it isnt really worth to make out such transactions for that time and thats my first time on seeing ETH does have that kind of fee issue
where it really rise up unlike before on a network clogged where ETH is the main option but it seems it do goes along with BTC problem.

Good thing for some casinos which do really have lots of coins alternative which can really help on this kind of fee issue yet you can choose up other coins as well.
Yes, TRX is one of the best coin when it comes to this.

If you dont like to use alts but only stick with Bitcoin then you wont have the choice but to wait up.

[Yaunfitda]

I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!

Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.

Yes, it was a practice back then to used gambling sites as sort of like "mixing services", that why they have to charge users and most of the time gambling sites will just froze your account for suspicious activity. And it's good if some casino's will let users choose the available options, as most of us wanted cheap fees. Of course if you are in a hurry, you wanted to fastest so you have to pay higher fees. So thumbs up for online casino's that has this kind of options.

[Yamifoud]

I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!

Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.

Yes, it was a practice back then to used gambling sites as sort of like "mixing services", that why they have to charge users and most of the time gambling sites will just froze your account for suspicious activity. And it's good if some casino's will let users choose the available options, as most of us wanted cheap fees. Of course if you are in a hurry, you wanted to fastest so you have to pay higher fees. So thumbs up for online casino's that has this kind of options.

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.