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Author Topic: How's your gambling experience right now?  (Read 702 times)
danherbias07
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May 08, 2023, 09:01:49 AM
 #21

What?! $14 already for low priority in Bitcoin? Damn. Last week I just made a transaction for 2 dollars but it took 6 hours before I received it. I am good with that even if takes a while as long as it's cheap. But the amount you said is too high now. Yeah, it's a disturbing number and it might drive away gamblers from depositing their funds in their favorite gambling sites.

I think other coins will have an increase in demand because of this especially those with lower fees. BNB for example, if it's available as means to gamble in a gambling site then I might just pick that chain just so I could gamble more than spend it all with fees.
Expect sudden upward fluctuation even with the not-so-popular cryptocurrencies. Maybe a good time to stock some of it.

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May 08, 2023, 09:08:20 AM
 #22

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.

There are still many other alternative coins to use with low transaction fees and I'm sure that gamblers who cant afford to pay for high bitcoin fee are using alternative coins. Small players who usually play with few tens dollar will not be willing to pay such high fee obviously as they will lose some money already even before they start gambling. I'm not sure about high rollers, maybe they do not care about few tens dollar fee but maybe there are some high rollers who also prefer to use alternative coins as well in this situation.
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May 08, 2023, 09:09:10 AM
 #23

High fees don't prevent me from continuing to make bitcoin deposits and withdrawals when I gamble, but what I notice is that bitcoin fees keep changing

btw, I'm quite surprised with the average gambling site, they rarely tell users about the constantly changing fee amounts, even though this can make players choose another option if the fee is high enough

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May 08, 2023, 09:17:44 AM
 #24

... I decided to rest for now since I will be down immediately by 5% for a transaction that I don't know when will gonna be confirmed.

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.

Still high today I'm monitoring it because I am about to send it to my local exchange, this has been the issue for 3 to 5 days right its not only the gamblers but also traders and sellers all of us are affected by this very high issue, we need an alternate coin to transact
so if you don't have an option to or don't want to deposit altcoins, you have no choice but to wait for the network to decongest,

This is not the first time it happen, a few years ago it took one of my transactions 24 hours to confirm I didn't bump it because I wait, and it's only a small amount, having good alternatives is important because this is not the last time this is going to happen.

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May 08, 2023, 09:22:18 AM
 #25

...
Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.

Well, it's not the first time we see a spike in transaction fees. We had some really crazy periods in the last 5-6 years... High transaction fees are the reason why I don't use Ethereum for a while.

We have good alternatives... there are a bunch of good coins with really low transaction fees. And in some casinos and wallets, we can choose from different chains, my favorites are BEP20 and TRX. Cheap and fast, what can I add more?

I guess some of us never stopped gambling... with some short breaks of course for various reasons. And just to add I am not afraid to leave some cash for gambling in the casino I trust.

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May 08, 2023, 09:23:59 AM
 #26

Since I'm a small gambler, I'd leave my coins on my casino because there's no point for me to move it to my wallet. I would choose to lost all of my money on the casino rather than lose it due to overpay Bitcoin fee because there's no fun about it. This is why a casino need an internal exchange, so the gambler can convert it to altcoins which have low transaction fee.

But there are some casinos have an internal exchanges, you can check it here LIST Gambling sites with internal exchange

 
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May 08, 2023, 09:28:59 AM
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 #27

Most casino bets are based on dollar, so there's no reason to stick with the current habit of depositing using bitcoins that can leave you scratching your head if you set fees low. Also conversely, withdrawing bitcoins will take longer if the casino does not change the withdrawal rates to adjust the priority fee level, so in certain cases gamblers will start accusing the casino of being guilty of ignorance of network conditions.

The problem is you will still need to transfer your Bitcoin that stored to your electrum wallet to exchange just to use different currency to gamble unless you have other altcoins in the bag which is not the case for most user here.

I think Duelbits deposit feature that converts all currency to $ works perfectly on this current scenario. You can dodge the high withdrawal fee on Bitcoin if you deposit using Bitcoin currency. So glad I use Duelbits most of the time before this high fees drama hits us hard.
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May 08, 2023, 10:48:27 AM
 #28

Since the increase in bitcoin transaction fees, I prefer to use USDT to keep gambling even though BTC is actually my favorite coin but I won't be able to pay fees for every transaction using BTC.
Because I'm a small gambler when I want to bet an amount of around $ 10-20 if using BTC it's really not enough and temporarily move to USDT to keep gambling.
Not sure when the transaction fee will go down but in order to keep betting I'm looking for a solution by using another coin and I'm sure some people here also choose to use another coin that has low transaction fees.
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May 08, 2023, 11:10:40 AM
 #29

I've been avoiding to look at the mempool these past few days so damn you hehe. I was already thinking of my recent win-loss ratio from sportsbetting when I read the title but you just reminded me of the high transaction fee.

I still have some decent balance in my account so I'm still good when it comes to betting. If the time to withdraw comes and fees don't change then I may use other cheaper options.

Same here, I don't participate in this sheep run where people are outbidding each other for high priority transactions, often paying more than $50 to send some money. There are so many FUD driven runs in history of bitcoin, with the biggest one happening when BCH people were spamming the network to make bitcoin look bad in comparison. I haven't participated in any of these panic moves and I'm not going to do it in this one. It's going to pass, like everything else. 6 months later nobody's going to talk about it anymore.

Gamble with what you have on casinos and don't be bothered by things you cannot control.

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May 08, 2023, 11:12:28 AM
 #30

Because I'm a small gambler when I want to bet an amount of around $ 10-20 if using BTC it's really not enough and temporarily move to USDT to keep gambling.
Not sure when the transaction fee will go down but in order to keep betting I'm looking for a solution by using another coin and I'm sure some people here also choose to use another coin that has low transaction fees.[/left]

Use BUSD, XRP and Doge if you really want a low transaction in your deposit. Most of the casino only supports TRC20 and ERC20 USDT which charge you a fee a minimum of 2$ while the token that I mention on charge few cents with same seamless transaction.

I’m already having fun using Bitcoin on gambling since the fee before the ordinals became popular is very cheap but now I think we have no choice than to look for alternative. I hope casino will find a way to implement a built-in exchange for those user that use Bitcoin as currency.
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May 08, 2023, 11:17:24 AM
 #31



The transaction fee on Bitcoin is increasing day by day. It cost now 14$ for a low-priority transaction to 17$ for high priority transaction. I was planning to make a deposit today on my casino account until I notice the high fee on my electrum sent tab. The fee is almost 5% of my total bankroll that I was supposed to deposit. I decided to rest for now since I will be down immediately by 5% for a transaction that I don't know when will gonna be confirmed.

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.
Not only just on gambling but also in my typical transactions made on bitcoin which everything is being halted because of huge or high gas fees which i cant really afford on paying 12-20$ when it comes to fees.

Having transactions on just $30 deposits would really be that eating up 50% of your bankroll or even with the fund which you do need.This isnt something new but its unusual that there's really that lots of transactions
in the network now on which it did really clogged out on the market. Scability issues is always been a main problem or issue with Bitcoin this is why altcoins that have cheap fees would be a viable option or solution as
of this moment. Lets just accept the fact that this had been the problem once network congestion do happens.

I could still play on using up some coins too which specially Dogecoin, considering that most of gambling sites on which i do play do really accept lots of options
when it comes to payment options which it is really that a good relief for this typical situation.

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May 08, 2023, 12:04:07 PM
 #32

I think this situation will become normal within few days when the transactions rate will be low and transaction fees will automatically come down but yes at this time it's hard to deposit btc.The problem is for small gamblers who can't afford this fees with small deposit but yes they can shift to other coins because playing through them is fine to save fees and most of them are also confirmed fast.But hope fees come down and we deposit btc to casino for gambling.

It's really such a hassle whenever transaction fees skyrocket to this kind of amount. It's hard to afford it especially if you are a small time gambler because the transaction fee will already make a difference such as additional to the gambling fund. If this will continue, it'll force the small time gamblers to use another coin for a while so they can still deposit and play. Since for sure, it's much better to adjust for a while than not play and bet at all for those who really like to gamble.

If I were it, I'd rather pause or just shift temporarily to other coins available that has lower fees. Hopefully though, this will soon lower down gradually so there won't be much negative effects.

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May 08, 2023, 12:15:52 PM
 #33

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.
The latter is 100% me. I rarely gamble nowadays and when I do I often leave a lot since I get bored really quickly, so I have quite a bit of left overs to the point that even if I play a few more times I'd probably be fine without depositing. I also use coins with low transaction fees sometimes so it's an easy bypass, sometimes that is.

Wouldn't say the same for sports betting though, if fees are still the same once TI comes up. Last Apex tournament that I betted on didn't have insane fees so I didn't really notice.

 
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May 08, 2023, 12:22:17 PM
 #34

Because I'm a small gambler when I want to bet an amount of around $ 10-20 if using BTC it's really not enough and temporarily move to USDT to keep gambling.
Not sure when the transaction fee will go down but in order to keep betting I'm looking for a solution by using another coin and I'm sure some people here also choose to use another coin that has low transaction fees.[/left]

Use BUSD, XRP and Doge if you really want a low transaction in your deposit. Most of the casino only supports TRC20 and ERC20 USDT which charge you a fee a minimum of 2$ while the token that I mention on charge few cents with same seamless transaction.

I’m already having fun using Bitcoin on gambling since the fee before the ordinals became popular is very cheap but now I think we have no choice than to look for alternative. I hope casino will find a way to implement a built-in exchange for those user that use Bitcoin as currency.
There are actually many options when the costs involved in making bitcoin transactions are enormous. As you said some of the coins you mentioned. Not only for gambling, but everyone will think twice about transactions using bitcoins when they have to pay such high transaction fees, especially if we only have a small amount of bitcoins, don't let the amount of bitcoins we will deposit be less than the transaction fees charged. we have to take it out. lol

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May 08, 2023, 12:27:20 PM
 #35

Because I'm a small gambler when I want to bet an amount of around $ 10-20 if using BTC it's really not enough and temporarily move to USDT to keep gambling.
Not sure when the transaction fee will go down but in order to keep betting I'm looking for a solution by using another coin and I'm sure some people here also choose to use another coin that has low transaction fees.[/left]

Use BUSD, XRP and Doge if you really want a low transaction in your deposit. Most of the casino only supports TRC20 and ERC20 USDT which charge you a fee a minimum of 2$ while the token that I mention on charge few cents with same seamless transaction.

I’m already having fun using Bitcoin on gambling since the fee before the ordinals became popular is very cheap but now I think we have no choice than to look for alternative. I hope casino will find a way to implement a built-in exchange for those user that use Bitcoin as currency.
There are actually many options when the costs involved in making bitcoin transactions are enormous. As you said some of the coins you mentioned. Not only for gambling, but everyone will think twice about transactions using bitcoins when they have to pay such high transaction fees, especially if we only have a small amount of bitcoins, don't let the amount of bitcoins we will deposit be less than the transaction fees charged. we have to take it out. lol

I believe the problem itself is the bitcoin network, based from the OP, his bitcoin is coming from his electrum wallet.
There's no problem if you are using other wallets supporting other cheaper networks like Tron or BSC.
With the case of the OP, just lay low for a bit and wait for the fees to go down because there are indeed instances that are quite expensive.
But if you happen to deposit from other wallets supporting other networks, then, take advantage of it. Compare their fees and see if it will help you.
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May 08, 2023, 12:53:42 PM
 #36

not really, haven't been gambling much lately and if I did I usually use XRP when depositing.

What?! $14 already for low priority in Bitcoin? Damn.
it even reached $20 for low priority just several hours ago. at this point, it would be better to just use another crypto at the moment to save money on fees if anyone plans to gamble during this time.

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May 08, 2023, 12:54:45 PM
 #37

I mean, why you force yourself to gamble using Bitcoin? just exchange it for cheaper fee altcoins e.g. Doge, Litecoin, TRC-20 tokens etc. This will avoid drama of paying high fees, I think it's still long to wait people to lost their interest to buy BRC-20 tokens, usually the hype last long for few months or a year. Remember next or two next years later bull run will happen, the Bitcoin price will increase and it make the fees skyrocketed more than this.

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May 08, 2023, 01:17:42 PM
 #38


The transaction fee on Bitcoin is increasing day by day. It cost now 14$ for a low-priority transaction to 17$ for high priority transaction. I was planning to make a deposit today on my casino account until I notice the high fee on my electrum sent tab. The fee is almost 5% of my total bankroll that I was supposed to deposit. I decided to rest for now since I will be down immediately by 5% for a transaction that I don't know when will gonna be confirmed.

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.

Best to wait a bit until things calm down and fees drop. Or gamble with an altcoin. You do not have to use Bitcoin everytime just to gamble, you know? And personally, losing altcoins does not sting as much as when you gamble and lose Bitcoin, for some reason  Tongue

A middle-way solution would be to use a Bitcoin pegged altcoin, and preferably, when such casinos come out, gamble using those Bitcoin pegged altcoins without having to send them to any third party wallet.

It should be possible already with BEP20, ERC20 and etc. pegged Bitcoin and self custodial wallets. But I have no idea if there is any legitimate and trusted casino offering such services.

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May 08, 2023, 01:21:02 PM
 #39

and here we go again with the bitcoin high transaction fee problem, we were already past this big nightmare, I was shocked to see news like this:

Binance halts Bitcoin withdrawals for the second time in 12 hours

it's a very bad situation, many people (including me) have been withdrawing money from binance directly to the casinos where they have an account, but when we see this kind of unpleasant news, people have to use altcoins and not all people like to use them altcoin, for example if a person uses altcoin to withdraw because bitcoin is not available for withdrawal that person may lose money too, that's because when the price of bitcoin falls, then the price of altcoins fall much more than the price of bitcoin, so the person buys 1 LTC for the price of 83$ and sends it to the casino, until binance approves the withdrawal and arrives at the casino the price of LTC could drop to 80$

and the person would already have a loss of 3$ and binance will not be held responsible for this loss, without a doubt that this whole problem of high transaction fees has created many headaches for people, the price of bitcoin is still above 27000$, but a drop below $27000 would trigger another panic selling and more people will rush to sell bitcoin and hold USDT and others will be withdrawing their bitcoin and keeping it in their wallets to do hodl in the long term, I don't know if all casinos will too will increase the withdrawal rate, unfortunately in the case of casinos the situation is more serious, because those who deposit in bitcoin can only withdraw in bitcoin

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May 08, 2023, 01:21:47 PM
 #40


The transaction fee on Bitcoin is increasing day by day. It cost now 14$ for a low-priority transaction to 17$ for high priority transaction. I was planning to make a deposit today on my casino account until I notice the high fee on my electrum sent tab. The fee is almost 5% of my total bankroll that I was supposed to deposit. I decided to rest for now since I will be down immediately by 5% for a transaction that I don't know when will gonna be confirmed.
Actually, I have not done a deposit for my casino for almost two weeks to do fun because I have many financial problems that I have to prioritize, and also I don't have much time because lately working almost full time from my daily life. Witnessing almost three days using Bitcoin to gamble the transaction fee is too large, I think why it can happen, it turns out that there are many using Bitcoin network that makes it.

Quote
Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.
I think only a small number of people who use bitcoin as their deposit to the casino, and they are only able, most of the other people use Altcoin for their gambling, it is more alternative than imposing such a big fee.

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