Considering huge transaction fees, what coins to support on new gambling site?

[dunfida]

It depends. There are probably sites which are transparent as to which specific coin is being commonly used.

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

There are really difference but to know that not all would really be that rich which means there are small time which would really be keen on making transactions just
because of those high fees which they do really find off for best possible alternatives or solutions but since most of gambling sites do offer now on lots of coins
for them to choose from then it really turns out to be convenient not like before that Bitcoin is only accepted but now top altcoins like
XRP,TRX ETH and Doge is already included on the list.

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[carlfebz2]

1. Nano: $0 fees, 0.14 seconds for confirmation
2. Digibyte: $0.0005 fee, 5 minutes to confirm
3. Bitcoin SV: $0.00055 fee, 7 days to confirm.
4. XRP: $0.00078 fee, 4 seconds to confirm.
5. Bitcoin Cash: $0.0024 fee, 2.5 hours to confirm.
6. Stellar: $0.004 fee, 4 seconds to confirm.
7. Dash: $0.0043 fee, 15 minutes to confirm.
8. Litecoin: $0.041 fee, 30 minutes to confirm.
9. Monero: $0.0696 fee, 30 minutes to confirm.
10. Doge: $0.239 fee, 20 minutes to confirm.

Some numbers arent accurate but you can tell the difference.
Source: https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f
Just mentioned above ^ most of platforms now offering lots to choose from.

[gagux123]

I confess that lately high fees have been one of the problems for some cryptocurrencies (for example Bitcoin and Ethereum)

In my opinion, I think other cryptocurrencies can be implemented because they have low transaction fees, such as XRP (Ripple), ADA (Cardano), XLM (Stellar) even Doge and others. Well, I think this is one of several possibilities!!

[AmoreJaz]

1. Nano: $0 fees, 0.14 seconds for confirmation
-
Some numbers arent accurate but you can tell the difference.
Source: https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f
Just mentioned above ^ most of platforms now offering lots to choose from.

never had an experience with nano, even in the trading aspect. but this is nice to know. i believe casinos should integrate this coin. dont know also any gambling site with nano coin in their payment method. they can charge a lil bit if they want to but it may reduce their earnings if they will use this coin esp if they have internal exchange. 
the usual reco is doge, ltc, xrp, eos and trx.

[harizen]

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

Agree and as I mentioned before, regardless of the fees, hard sports bettors (honestly, even with casual bettors), won't mind the fees as long as they can able to place their preferred bet at the right time. They will just do everything to win to somehow cover the fees they spent.

After all, we are not talking about over $50 in fees "regularly". Just refrain doing cheap transactions like for example less than $100 per deposit.

[STT]

Its not a good idea to discourage in any way the smallest bettors, they are often going to be the newest most timid customers but importantly represent growth in the industry and across crypto.   The smallest elements in an economy represent the fastest and ultimately greatest growth, its part of why capitalist systems work in the first place and I reject the whole whale arguments to success in any system really.
   Sure step 1 use large enough amounts of cash where it doesnt matter and I agree regular bettors dont withdraw too often anyhow but still I hope Bitcoin never forgets the bit part, its about efficiency really.   I was just posting elsewhere a slow option with lower fees should always be there for the paupers of the world (ie. less then $100 etc) to still take part and build up an interest, thats just healthy imo.

1. Nano: $0 fees, 0.14 seconds for confirmation
2. Digibyte: $0.0005 fee, 5 minutes to confirm
3. Bitcoin SV: $0.00055 fee, 7 days to confirm.
4. XRP: $0.00078 fee, 4 seconds to confirm.
5. Bitcoin Cash: $0.0024 fee, 2.5 hours to confirm.
6. Stellar: $0.004 fee, 4 seconds to confirm.
7. Dash: $0.0043 fee, 15 minutes to confirm.
8. Litecoin: $0.041 fee, 30 minutes to confirm.
9. Monero: $0.0696 fee, 30 minutes to confirm.
10. Doge: $0.239 fee, 20 minutes to confirm.

Some numbers arent accurate but you can tell the difference.
Source: https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f
Just mentioned above ^ most of platforms now offering lots to choose from.

Worth quoting, useful snapshot info.   I have often used the classic Etherum chain because it was so widespread and fast, I've no idea of any wider criticism currently of it but it was fast cheap and often accepted; bid/offer spreads also is an element to cost of any effective usage back to dollars etc.

[Vaskiy]

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

Agree and as I mentioned before, regardless of the fees, hard sports bettors (honestly, even with casual bettors), won't mind the fees as long as they can able to place their preferred bet at the right time. They will just do everything to win to somehow cover the fees they spent.

After all, we are not talking about over $50 in fees "regularly". Just refrain doing cheap transactions like for example less than $100 per deposit.

Hard sports bettors and casino gameplayers will never look for the fee. Most of the time the deposits were made instantly, unlike the currency. The incoming deposits fee will be adjusted by the gambling platforms, and this isn't happening with every gambling site but there are sites doing it to keep the player active and continue gambling without break.

[bbc.reporter]

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

[Kong Hey Pakboy]

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

XRP as far as I know has the lowest transaction fees but yeah you are right that lawsuit is a problem. The problem with new sportsbook is that they are not as established as the other sportsbook so you will have a problem with trust for awhile. Doge might be a good alternative.

[jaberwock]

It depends. There are probably sites which are transparent as to which specific coin is being commonly used.

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

I see some people are suggesting you about BNB; I mean I get that it is a centralized coin but many casinos have XRP, that is a coin where the creators can print any amount of coin they want and make themselves rich, sell all of them and print again if they want to, it is as centralized as it gets and it is funny that people assume it could be played on a casino but BNB can't be.

At least BNB is used for something and a good coin and ranked very high now as well, and nobody is investigating them, XRP is under threat of SEC right now and could go down even more, that is why I do not think that people should invest all this money into XRP and gamble with it, they should do that with BNB. The cost is about half a dollar and it is nearly instant as well, there is no waiting time, so you could add that to the list of things people could play with and casinos could add to make it faster.

[michellee]

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

XRP as far as I know has the lowest transaction fees but yeah you are right that lawsuit is a problem. The problem with new sportsbook is that they are not as established as the other sportsbook so you will have a problem with trust for awhile. Doge might be a good alternative.

Rather than use XRP to gamble, we have the other altcoins that can suit us to gamble and even if those coins are not too low than XRP, the coin does not have a problem with the lawsuit. That will help us avoid the problem in the law, while we can still use it for playing gambling. Dogecoin will be the best coins to gamble as the price is not too high, and in the first time creation, Dogecoin is for a meme and fun only.

[blockman]

never had an experience with nano, even in the trading aspect. but this is nice to know. i believe casinos should integrate this coin. dont know also any gambling site with nano coin in their payment method. they can charge a lil bit if they want to but it may reduce their earnings if they will use this coin esp if they have internal exchange. 
the usual reco is doge, ltc, xrp, eos and trx.

It's just an underdog altcoin but it's quick and free for a transaction. But it's hard to gain popularity because many are into bitcoin already. I agree that I'm also into bitcoin and would say and suggest that from time to time.
That might be the reason why we're seeing a few of it accepts it because they can't get commission because of the known description of it.

[blackened515]

Most gambling site uses low transaction fee coins, the higher fee in ethereum and Bitcoin is rapidly getting high at the moment, so many clients loosing customers because of high fee, there are new gambling are that integrate more of the low trx coins, betnomi is a new site though that has xrp, doge, dash, trx, btc, and eth., These coins are faster in transactions with no obstructions.

[chaser15]

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities.

It's because gamblers don't care about a regulation problem of a certain coin as long as they will get cheap fees when depositing crypto to their preferred crypto gambling sites. I understand as the XRP fee is handy.

And even with the lawsuit, XRP is still listed on good exchanges that's why more people still use them. Even with a lawsuit, I don't think that will be a problem for a crypto-gambling site if they will accept is one of their payment methods. With more options to pay, more users will likely switch to that site.

[harizen]

so many clients loosing customers because of high fee,

Where did you get this information? Can you give an example? Like what sites etc.

If I'm not mistaken, top and famous gambling sites, even with high transaction fees involving those top coins, don't seem to show that it totally affects the number of their users. These gamblers are aware of the current fees and hopeful that someday there's a way it can be lowered in the future but if they really want to gamble, fees are nothing with them.

[examplens]

1. Nano: $0 fees, 0.14 seconds for confirmation
2. Digibyte: $0.0005 fee, 5 minutes to confirm
3. Bitcoin SV: $0.00055 fee, 7 days to confirm.
4. XRP: $0.00078 fee, 4 seconds to confirm.
5. Bitcoin Cash: $0.0024 fee, 2.5 hours to confirm.
6. Stellar: $0.004 fee, 4 seconds to confirm.
7. Dash: $0.0043 fee, 15 minutes to confirm.
8. Litecoin: $0.041 fee, 30 minutes to confirm.
9. Monero: $0.0696 fee, 30 minutes to confirm.
10. Doge: $0.239 fee, 20 minutes to confirm.

Some numbers arent accurate but you can tell the difference.
Source: https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f
Just mentioned above ^ most of platforms now offering lots to choose from.

Probably any coin which is not on the Bitcoin blockchain or Ethereum network.
Usually, I make Bitcoin or Eth transaction, and many time very frustrate me not only high fee also long time waiting for confirmation. And always have been surprised when I realise that TRX, XRP, XLR... transaction confirmed/finished almost instantly.

I remember some old-time and Plinko game, where every game I make a new Bitcoin transaction, and everything works fine. 

[Hamphser]

so many clients loosing customers because of high fee,

Where did you get this information? Can you give an example? Like what sites etc.

If I'm not mistaken, top and famous gambling sites, even with high transaction fees involving those top coins, don't seem to show that it totally affects the number of their users. These gamblers are aware of the current fees and hopeful that someday there's a way it can be lowered in the future but if they really want to gamble, fees are nothing with them.

I do like to know as well on where you do get those informations because majority of gambling sites now does have dynamic fees which means it would really be depending

on the networks situation.All of gambling sites now does have lots of coins to choose from which means it wont be a hassle to play gambling if you do like too.

Its true that high fees is pain in the ass specially in bitcoin but we can always wait or skip out.

[GreatArkansas]

Litecoin is mostly popular in every gambling platforms so is Dogecoin despite being a troll coin it still has a huge marketcap. Unlike BTC/ETH they're Blockchain networks are not congested by transactions, so it will not affect your profits when withdrawing and get caught up with fees.

You got a point, Litecoin is more cheap transaction fees. But there are also some gambling platforms that still don't support some altcoins, like Litecoin or Dogecoin.
But overall, if you have your funds or some other altcoins on the exchange and want to gamble, the best to use are these kinds of altcoins to save more fees on sending on the gambling platforms, and on withdrawal too (if withdrawal is not free).

[goinmerry]

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

It's the other way around which are small gamblers who are taking fees instead seriously compare to big or heavy gamblers.

These big gamblers can afford to pay fees and most of the time, they are making big deposits as one way to save fees in their future deposits. Small gamblers on the other hand have no choice but to do the same instead of doing deposits by batches.

USDT is one of the good choices we have.

[Wawa2013]

It annoys many gamblers with the current increase in Bitcoin and Ethereum transaction fees, even though these two coins are the most popular
for playing gambling. But seeing the surging transaction fees going up, making gamblers look for other alternatives that have much cheaper
transaction fees. Read posts from members in this forum, most suggest using XRP, LTC and DOGE. I admit that the three coins not only have
cheap transactions, but has very fast transactions too. I've also started using XRP, LTC and DOGE to play gambling and have also made deposits
and withdrawals on gambling platforms.