Minimum deposit and minimum withdrawal.

[milewilda]

IMO it's better for the casino set minimum deposit and withdrawal based on the coin equivalent rather than on fiat equivalent. This because let's say if the coin price is worth for $20/each now and the casino ask minimum deposit of $20, then I make a transaction to send this coin to the casino, but after 5 minutes later the price is drop to $17, so the casino can just reject my deposit since it's lower than the minimum.

If they're using coin equivalent, anyone wouldn't get this kind problem.

I don't see a problem with dollar value as long as they keep the minimum deposit and withdrawal very low.
It's understandable they don't want to keep processing dust transactions otherwise people would spam them with $2 deposits all day, especially people from very poor countries where $1 has a real value.

Setting minimum deposit and withdrawal at $20 is pretty high, unless they aren't accessible on global scale. Many people earn less than $10 a day, so $20 deposit requirement is pretty high.

If you don't want to face the problem of constant price changes you can use bitcoin. Its value usually doesn't change that much on an hourly basis and 10% drops are rare.

But if they would stick into a fixed amount in usd value then bitcoin value would sudden change and if ever it would be that fixed then it would neither be lower or higher on the said threshold
which it could neither be a good thing or bad specially when you are a small scale type of gambler.Most of the time these limits arent really that something a bothersome specially to those
who are big bettors or who do have huge funds.This is usually can be seen up into those people who are really that making minimum deposits and withdrawals but its true
that having lower is much more preferable.

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[Fortify]

Someone with a strict budget of gambling with $10, decides to start online gambling after been told by a friend, but on signing up discovers that the minimum deposit accepted is above the amount budgetted for gambling. Does high minimum deposit fees from online casino discourage gamblers who want to stick to a budget and influences them to gamble with bigger amounts? If yes, and that perhaps is a reason behind many other online casinos keeping their minimum deposits as low as $1, Could low minimum deposit be an encouragement for people to come gamble regardless of the money they have to gamble? Does minimum withdrawal encourage players to try again and keep gambling if they don't win up to the minimum withdrawal?

It can be a lot easier to get a million people to throw away one dollar than to find a millionaire who will hand over a million in one go, as someone as put more eloquently in the past. A dollar minimum is likely in place due to blockchain transaction fees that get proportionally more expensive the lower you go. However a dollar can definitely have a lot of different value depending on the country you are in, for example $5 an hour in Pakistan might be considered a substantial wage compared to the average salary, however it would be rejected by workers in almost every European country as far too low. That's because there are different costs of living, pricing of products and availability in the labor pool. So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

[Lida93]

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

[harizen]

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

[AmoreJaz]

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

most crypto casinos that i've seen here has about $5 of min deposit, otherwise, check the ToS of the site and look for the min deposit/withdrawal section. because if you happen to deposit below their min deposit, it won't be credited or worse they will just collect the money.

[Jemzx00]

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

Actually, most online casino rarely offers minimum deposit amount and even if they do, they are fairly low which are valid and acceptable for everyone. I guess, this also varies depending on the games that these casino offers where you can only bet a certain amount which if a user tries to deposit a small amount, they won't be able to play anything on the platform.

In terms of local casinos, I've seen fairly lower deposit amount much lower than that like 0.5-2 dollars and they allow it as some slots are available to be played on a much lower amount.

[goinmerry]

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

most crypto casinos that i've seen here has about $5 of min deposit, otherwise, check the ToS of the site and look for the min deposit/withdrawal section. because if you happen to deposit below their min deposit, it won't be credited or worse they will just collect the money.

Therefore, users have to deal with the minimum deposit set by the site and don't ask for a much lower amount.

They are the ones who need to adjust if they really want to gamble with that small amount.

Actually, it's not the minimum deposit amount they should be worried about but to expect some casino games to allow lower bet amounts.

[rodskee]

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

most crypto casinos that i've seen here has about $5 of min deposit, otherwise, check the ToS of the site and look for the min deposit/withdrawal section. because if you happen to deposit below their min deposit, it won't be credited or worse they will just collect the money.

but considering that idea isn't that bad at all I believe because the casino owners targeted bettors of all kind and not those who can afford they set deposit amount and besides there are many casino that also offers that low so maybe considering isn't that bad at all?
but year it is their business and its their way how to handle it.

[TopTort777]

When speaking about minimum withdrawal, dont forget about gambling platforms future promotions. When casinos run promotion programs, they dont give huge bonuses for easy tasks. If a player receives  several bucks as a promotional bonus, and minimum withdrawal is 20, first thing he think about is how greedy and cheating that platforms is. Most likely he will never return there again.

There is always another vision - the idea of promotion could be following: user should add a bit of his own funds to withdraw promotional bonus. Such thing might also play bad, as forcing user do something, extra steps, never helps business.

[darewaller]

Just from your illustration, one needs not to be told that minimum deposit and withdrawal have a very great role to play especially for new casinos who are trying to stay relevant in the industry.
Your illustration also stated that, the player was a newbie on that very casino and has a budget and I guess his budge was because he first wanted to test how good the casino would be when it comes to deposit and withdrawal and these are the first two things I have to think of before hopping into a gambling site because I wouldn't want a situation where it seems I got lured into the site with minimum deposit and when it gets to withdrawal, it then becomes very difficult to withdraw.
Minimum deposit and withdrawal has a great role to play in online casinos.

Indeed but I think many of them still underestimate it but they instead focus on other things which they think more beneficial for their success. They will come to a point where they still fail and they still haven't figured out that the problem maybe because of their minimum deposit and withdrawals.

Testing the site first is important so that we will avoid getting screwed in case there are some bugs and glitches but there is no way we will deposit big amounts only for this purpose because what if the casino is a scam? They can offer faucets and free credits but there are other requirements that can come along with them. The feeling is still different if we deposit using our own money.

[Crypt0Gore]

It makes no sense to implement minimum deposit if you are running a crypto gambling or casino platform, this is a big turn off for me because I take risks with very little amount that won't hurt even if I lose it, till this day I still hate Binance exchange for forcing me to have at least 10$ worth of coin or token before you can trade on the platform.

[Bushdark]

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

What I am more familiar with was Maximum deposit or amount you can use to make bet but taking a long on gambling platform that do restrict a particular amount which a gambler can use to gamble is not a good business techniques. Good and ambitious gambling platform would put the minimum amount to the lowest so that it will be flexible for gamblers to bet at a range that is more convenient for them withiut otherwise. Every gamblers know what they can afford even with the minimum amount gamblers are expected to use and bet.

[Peanutswar]

It makes no sense to implement minimum deposit if you are running a crypto gambling or casino platform, this is a big turn off for me because I take risks with very little amount that won't hurt even if I lose it, till this day I still hate Binance exchange for forcing me to have at least 10$ worth of coin or token before you can trade on the platform.

I guess still ideal to have in favor with the maximum bet but of course in depends on your tier like they can identify if you are a really  a whale gambler or not but at the end of the day its in favour of the gambling casino with that large amount of deposits and withdrawals, another thing is some of the slot games offering a low amount of wages so you can drain your wallet whenever you want most likely only those in the table games have the base of 5-10$ minimum wage.

[maydna]

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

It could be, but we have seen many gambling companies with a minimum deposit that we must follow. These minimum deposit amounts are affordable for small gamblers so they can deposit their funds and start playing. And I think there are new companies that charge a minimum amount to attract more gamblers and not make it a burden to people who want to try gambling on their site. And it's unlikely they will change the minimum deposit amount as their members are comfortable doing so. If the casino changes it, they will get a lot of complaints from their members because they already get the fun and comfort of playing gambling in their casino. This is what casinos should be aware of before they change their rules.

[noormcs5]

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

It could be, but we have seen many gambling companies with a minimum deposit that we must follow. These minimum deposit amounts are affordable for small gamblers so they can deposit their funds and start playing. And I think there are new companies that charge a minimum amount to attract more gamblers and not make it a burden to people who want to try gambling on their site. And it's unlikely they will change the minimum deposit amount as their members are comfortable doing so. If the casino changes it, they will get a lot of complaints from their members because they already get the fun and comfort of playing gambling in their casino. This is what casinos should be aware of before they change their rules.

The gambling houses usually put a minimum deposit on the site as they do not want people to deposit very little amount like 10 or 20 satoshi etc. However i agree if the motive of the gambling site is to prevent very small deposits on the site but the minimal deposit should not be a big amount like 30$ or 50$.
If the minimum deposit is more, it will discourage deposit for not only gamblers who have less money but also the gamblers who want to try the particular site for the first time, they will hesitate to play at those gambling sites.

[BobK71]

Now the competition of the gambling company has increased a lot. A decade ago, I saw the restriction on gambling, where the minimum deposit and with draw were more comparable to this time. However, at present some gambling platform has become flexible in this condition. I think both sides are benefiting in this case. A gambler who have not enough money or less he gets the opportunity to play with a little deposit, while the owners of the gambling company are also benefiting. If a gambler wants to break from the gamble, he can return to gambling again with a little money. I think it is a advantage of the gambling company.

[Shamm]

Now the competition of the gambling company has increased a lot. A decade ago, I saw the restriction on gambling, where the minimum deposit and with draw were more comparable to this time. However, at present some gambling platform has become flexible in this condition. I think both sides are benefiting in this case. A gambler who have not enough money or less he gets the opportunity to play with a little deposit, while the owners of the gambling company are also benefiting. If a gambler wants to break from the gamble, he can return to gambling again with a little money. I think it is a advantage of the gambling company.

Yes you are right that mate both the gamblers and the owner of the casino can benefits this kind of less deposit value as we all know there are many people who want to play gambling but they have small extra money to play with so the logic here is that the owner of the casino chasing that kind of gamblers who can help his casino more popular and there's a chance to have many players. Because that gambler know the minimum deposit then he will tell his friends to try that casino and play together.

[armanda90]

Yes you are right that mate both the gamblers and the owner of the casino can benefits this kind of less deposit value as we all know there are many people who want to play gambling but they have small extra money to play with so the logic here is that the owner of the casino chasing that kind of gamblers who can help his casino more popular and there's a chance to have many players. Because that gambler know the minimum deposit then he will tell his friends to try that casino and play together.

Have unique with gambling platform about amount deposit and withdrawing to make gambler interested try their lucky there, almost all gambling platform not having minimum required for deposit fund but they have limit for withdrawing fund there. Become benefit for the owner or casino gambling because when gambler reached profit they have maximum wager to earn minimum fund wihdrawing.

There are speculation after winning with small fund deposit have make several time wager push up fund reach minimum for withdrawing but lately they loss and the gambling platform owner get benefic with this rule.

[erep]

There are speculation after winning with small fund deposit have make several time wager push up fund reach minimum for withdrawing but lately they loss and the gambling platform owner get benefic with this rule.

I assume that is the reason every casino does limit minimum deposit and specifies limits for withdrawal, low deposit only for few bets and average gambler will spend those funds to increase bet after losing many times in each game, so casino owner will greatly benefit from deposit low because it is impossible from a low bet to recover losses, so gamblers will deposit again the next day because they have limited funds for daily gambling. but if you enjoy gambling for entertainment then don't care about withdrawals because they want to play gambling during their free time and don't expect withdrawals even when the balance has reached the limit for submitting withdrawals.

[coolcoinz]

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

There are other explanations, for instance they want people to avoid spamming their wallet with micro transactions. Such transactions would then be considered lost according to their TOS, making the spammer lose all the money. In particular a competing casinos, especially when both are relatively small, might want to do this to later have grounds to send them tickets about dust transactions not being visible on their accounts or not being processed fast enough. There's many ways in which you can make people's lives more miserable, so I understand the need to establish minimum deposits. They don't have to be big, in most cases just $5 is enough to discourage spam and it doesn't affect the players.