How Casinos Manage Withdrawal Limits and transaction Fees

[topbitcoin]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

Most casinos set their minimum withdrawal amounts with a primary goal in mind: to offset or cover any transaction costs that might come up as a result of the withdrawal. If you withdraw $10 from a casino that has a $10 minimum withdrawal limit, it's highly likely that they have already taken into account the fees associated with the transaction.

Casinos can get discounts or special rates from payment service providers because of the high number of transactions they make, so these costs are already covered within their fee structure. Typically, a casino makes quite substantial profits from its gambling activities and thus any such additional costs (like transaction costs) could easily be borne out of these profits. In general, these fee structures do not substantially eat into their revenue stream. So, we see that even though there is a nominal withdrawal amount specified by casinos as well as a potential transaction cost involved, it doesn't really impact them significantly due to their profit margins.

It is possible that players are charged transaction fees directly at some casinos. Let's say the transaction fee amounts to $0.50, in this case, the casino would still receive $9.50 out of the $10 that was withdrawn. However, it doesn't affect them adversely because, in general, they take into account these transaction costs when setting their minimum withdrawal amounts.

[famososMuertos]

You might be able to send a pm to an operator or community manager and get an actual response. UserU, Stunna, Sir John Slotty or whatever his name is, or any number of other operators on the forum might be able to give you a detailed answer.

Cool. Thanks.

I think that in the first instance the doubt of one player is the doubt of many. You don't need to go to a CEO or MIT to find out or know that.

In particular, one gets used to obtaining the information on site (casino), that is, everything is there, and mainly everything has been explained by the casino; (1) the withdrawal fee is paid by you, (2)or by the casino in a " payment" offers zero fee.

In the first case, (1) there is undoubtedly an "abuse" on the part of some casinos, not all,  some exorbitant fees, with ridiculous things such as: minimum withdrawal $10, payment rate per fee, $7.

Also, in this group there are those that offer variable withdrawal rates, yeah, you assign it yourself,and finally there are those that have a "symbolic" withdrawal rate, since sometimes it adjusts to the withdrawal rate network, but the reality is that no casino wants to have Txid queued due to fee payments, so having a withdrawal waiting for not paying $10, $20 is ridiculous, so in essence a high fee payment should not matter to you, if that fee is between 1%-3% of the amount WD.

Check carefully the conditions of the Casinos when withdrawing, there are so many to choose from that you will find some reliable ones that adapt to your withdrawal and fee payment tastes.

(2)On the side of the casinos that have "0" fees, the "gossip" is that they come from where the rainbow light falls, well, it is a metaphorical phrase, obviously from their coffers*, it is a kind to marketing, Branding, etc.

^{*You Deposits,losses : )}

[Wapfika]

If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

You are considering here casino like what in your signature, Bitcasino and Sportsbet which doesn’t charge withdrawal while the majority of the casino deducts the fee on the withdrawal amount which means the user pay for the fee.

In your example, casino pays for the fee since they are using the free withdrawal fee as selling point feature to attract customers.

But normally, minimum withdrawal amount aside from what you mention is use to avoid micro players withdraw immediately their money after few successful winning bet so that they will engage more on gambling and potentially lose their bankroll.

[South Park]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

This is not really complicated, there are two possibilities for this, if you try to withdraw 10 dollars you may not receive the 10 dollars in full, and you will receive just a portion of it as the transaction fee gets reduced from the total, the other option is for the casino to pay the fees and if you withdraw 10 dollars you receive all of that money in your wallet, however in this case the casino is paying the fees out of all the profits they got from gamblers, so this is their way to give something back to you.

[Lida93]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

It could be that not all casinos do make compulsory withdrawal charge for all amounts of withdrawal, and the gambler preferred withdrawal option to where he's withdrawing the money to could be what may not demand for a processing transaction fee - it all depends on the casino.

Take a close look at this

As far as we know, the best online betting sites won’t charge you withdrawal fees. They will facilitate free withdrawal transactions regardless of the payment method you are using. The only things you have to worry about include the lowest minimum withdrawal amount and maximum withdrawal limits

[lovesmayfamilis]

I also agree with the statement that the casino is interested in the player continuing to play. High transaction fees can help a player continue playing while expecting a large sum. Also, if there is a long withdrawal time, especially in a casino with little reputation, it can be assumed that the player will stay in the system longer and lose all his money faster. But when it comes to withdrawal limits, you probably also need to consider factors such as the fact that the casino needs to maintain its financial stability, and this makes the limits different.

[danherbias07]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

You didn't see any cents that were cut from your withdrawn amount? I mean, there must be something that is missing even if it's only a small amount upon receiving the amount said.
Or you might have some cents in your balance that was used before the withdrawal took place.
I have not tried using the currency USD yet so I don't really know how much the transaction fees are. But I am using USDT with a $1 transaction fee. I guess it will depend on the currency that you are using. There are cryptocurrencies that have very low transaction fees which means you might not even notice it.
Maybe in USD, it's free because it won't go through the blockchain or other stuff that needs processing fees.

[ralle14]

If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

I'd assume the fees they pay come from their pockets or via the profits they get from the house edge since most casinos have several games with a higher house edge.

Then again, it depends on the timing because fees aren't always expensive, I remember one casino mentioned that they sometimes charge more than usual to cover the overall fees they spend. If it does reach that point where it's getting costly, casinos won't hesitate to increase the minimum limits to reduce the withdrawal requests they receive.