Things that still make feel awkward with some online casinos

[Weawant]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Casinos are not the only sites guilty of increasing their withdrawal fees, exchange are also increasing their withdrawal fees and that's because of the congestion on the Bitcoin network. We just have to manage for now, soon everything will return to default.

The only coin to be affected are bitcoin, if any casino request high fees for withdrawing other altcoins. You should avoid using such a casinos as they're thief or experiencing a glitch in the withdrawal system. Although altcoins should work effectively.

Some online casino are just scammers and they wait until you're in need of the money won before they start delaying your withdrawal with different unnecessary excuses. Any casinos that overpriced should be avoided as we have many casinos available.

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[decodx]

I totally agree! Charging excessively high withdrawal fees is just not cool, and it's a clear sign of bad management on the part of the casinos. It's like they're trying to squeeze every last penny out of their players, which is definitely not a good way to build trust and loyalty. Reputable casinos understand the importance of reasonable and transparent fee structures that don't leave players feeling like they've been taken advantage of.

Of course, cryptocurrencies are a volatile asset with a dynamic transaction fee that changes from minute to minute. However, it doesn't justify casinos charging exorbitant or unjustifiably high withdrawal fees. After all, it's in their best interest to maintain a balance between covering operational costs and offering reasonable fees that don't deter players from withdrawing their funds. Unless, of course, they intentionally set high withdrawal fees as a strategy to discourage users from cashing out

[romero121]

Most of the time we were able to see the rise in the withdrawal fee when there is increase in the onchain transaction fee. Casinos mostly have some fixed value, but the onchain transaction doesn't take a fixed value, so depending on the time the transaction fee will be paid receiving a fixed amount from the gamblers. Now there is rise in the fee and the same can't be compensated with what they have set as the transaction fee. This is the reason why there is rise in withdrawal fee. Maybe some Casinos were making good profit through this, but not all the Casinos does this kind of business.

[stomachgrowls]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

The only casino on which i could say that charging huge fee despite of the low tx fee on market condition is Stake specially on their Bitcoin withdrawals which do ask out 0.0001 or 0.0002 or something like that.

No matter on what network condition would be then it would really be staying up like this.How much more if they would be making out some adjustments according on whats been asked? For sure they would really be putting up more than on what the network requires. Is this surprising? No its not. There are platforms who do snip out profits out of these fee add ups which it not shocking.
Most of gambling sites are really having that dynamic fee which would automatically adjust basing on the market fee condition which it is always been that recommendable
or preferred and not into those platforms who do ask more.

[harizen]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

As much as my knowledge is concerned, at least most of the crypto-gambling sites, are supposed to have a fixed amount of withdrawal fees regardless of the situation in the memory pool right now. Besides, why use a fiat value on your computation? Mentioned the exact bitcoin amount as the exchange rate varies time per time. Your 10,000 satoshis for example might don't have the same value yesterday or tomorrow.

Can you tell us what gambling site you are referring to just for our reference?

We can have a much better and more accurate response if you will share detailed information about your concern.

[dothebeats]

This is why it's important to know these costs beforehand before making a deposit and start playing with that platform. You'll never know what you're getting into especially with the withdrawal fees. If a casino platform has that high of a fee to begin with, I'd never turn back once I leave. If they can't make a profit off of just the games that they are offering and are getting some of the profits from the users' wins through withdrawals, they shouldn't really be operating a casino at all.

Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.

[Fatunad]

This is why it's important to know these costs beforehand before making a deposit and start playing with that platform. You'll never know what you're getting into especially with the withdrawal fees. If a casino platform has that high of a fee to begin with, I'd never turn back once I leave. If they can't make a profit off of just the games that they are offering and are getting some of the profits from the users' wins through withdrawals, they shouldn't really be operating a casino at all.

Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.

Yes, this is one of the things whenever i do see some new platforms or casinos that emerge on the market on which having that withdrawal fee is really that something to be concerned of. You cant really just ignore
this thing even though its small but something a huge factor which other people been that trying to look or check on because on the time that they do see that the fee rate or price is high than with the usual
network requirements or needs then this is where discouragement and lose of interest would start and would be finding out some another place on which they would really be seeking or looking that offers less fees.
No matter how small the differences is if they would see about $1 0r more difference then people would be having no doubt or second thoughts on transferring. You cant really stop people no not to be mindful
about these usual stuffs and paying up more bucks for just pulling your money isnt really that giving a good feeling.

[kamvreto]

$ 5 in my opinion is still standard and not too expensive. If some online casinos experience increased transaction fees it is because of the crowded Bitcoin Network, but that only applies to casinos that use crypto networks.
If you want a withdrawal fee of $1 or less, I don't know what gambling platform can do that. But try to check online gambling platforms that integrate the Bitcoin Lightning Network. that might be an alternative because the lightning network uses a cheaper and faster fee.

[alegotardo]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

It's always like this: When the mempool congests or there is another factor that justifies an increase, then the rates go up instantly. But when things normalize, rates take much longer to fall and sometimes they stay at the same value for good.

However, the best form of protest we can do is to simply stop playing on those sites that charge abusive fees. Because we have many good sites, competition is high and we must value those sites that practice the most honest values with players.

I recommend you to take a look at Duelbits

[Reatim]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

it is our responsibilities to know and learn first how casino sites are asking for fees and yes remember that it is our money  and some casino thought that we will only withdraw after winning then we aren't caring about how much they will take us for the transaction to take place .

choose your casino mate never deal with those who has so high fees before getting our money.

actually there are so many sites here that has fair in dealing with this kind , like our signature tells us , play only with reliable sites and yes all of the sites I only playing are good at this.

[BobK71]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

We have to get a fair solution on the issue. With a little difference, they can try to steal big Amount from the clients. This is a simple technique of the some casino providers through which they are fooling us in the name of transaction in front and it is not known how long this situation will last. However, if a reputable casino do the same thing, it should be complained about the matter, i think casino providers will try to do something logical in this respect.

[Darker45]

If the network is clogged and the transaction fee is rising, what choice do the casinos have? They will also increase the fees. First, to make sure the transactions won't be stuck forever. Second, the casinos don't like to be pestered with complaints of very slow withdrawals. They could lose users because of it. And since they can't subsidize or pay for all of their users' fees, they have no choice but to also increase their withdrawal fees. Third, they're doing business. If the centralized exchanges earn from transaction fees, why can't they?

But these are not Bitcoin-only casinos. They offer various crypto options. Choose the cheapest.

[maydna]

The withdrawal fee is charged to the gamblers but there may also be a withdrawal fee paid from the casino although we have to find and confirm it through the support service. And it also happens on exchanges where we as traders also have to pay a withdrawal fee which is taken from our withdrawal amount. It seems like it's to cover the costs that the casino or exchange should have incurred so they did it that way. And it is also income for the casino because of those costs there must be something the casino or exchange can keep. So we shouldn't be surprised by that.

[OgNasty]

After reading and commenting on this thread I decided to take a look at what Stake was charging as a withdrawal fee. I saw that they are only charging slightly over a dollar to withdraw your BTC. That doesn’t seem like a crazy fee to me. I half expected they would have raised it by 10x due to the recent network issues. So if withdrawal fees are concerning to you, check out the link in my signature.

[SirLancelot]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

Well, this is why one must do their research and learn everything about a platform before using it, I didn't know that casinos don't let you know the withdrawal fees until you have enough money in your account to check that which shouldn't be the case and they should be transparent about it in front of the public and let them decide if they want to use the platform or not.

Anyway, some platforms are actually yet to make the necessary changes after the fees have become normal, just like Binance, it didn't change the withdrawal fees for Bitcoin until today and users were finding it pretty inconvenient.

[coolcoinz]

$ 5 in my opinion is still standard and not too expensive. If some online casinos experience increased transaction fees it is because of the crowded Bitcoin Network, but that only applies to casinos that use crypto networks.
If you want a withdrawal fee of $1 or less, I don't know what gambling platform can do that. But try to check online gambling platforms that integrate the Bitcoin Lightning Network. that might be an alternative because the lightning network uses a cheaper and faster fee.

I wouldn't call that cheap, since most of these platforms allow for bets lower than $1, so asking $5 just for withdrawal is pretty high, especially from people who live in poor countries.
I know it's becoming somewhat of a standard, but it doesn't mean we should accept it without complaint, especially if they want a $5 withdrawal fee on altcoins that offer very low fees of less than $1.
What are we paying for actually? Are we paying $5 for the automated software to approve our 0.5 USD fee for a $10 withdrawal?
There are casinos that don't take any additional fee apart from whatever is required by the network.

[Cookdata]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

The Bitcoin network is congested, everyone who transacts Bitcoin on-chain right now is having the same difficulty, the exchange and other centralized entities are not left out on this one, and I think asking $5 per BTC withdrawal is actually not reasonable because let's say you want to spend a single output to a segwit address with a 110vb, with the low priority of fees been 24sats/vb, you will be spending 2,640 sats on transaction fee, that's about 7.1 cents. However, you and I know that Casino is a center for business, they will use wallet addresses like Legacy as an excuse to increase the fee and they will say that they are doing it in case the network becomes congested in the process, they will have to adjust to the mining fees required to get your transaction very fast.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

As I have said earlier, they are business people and what they are doing is business strategy, they don't want a single chain to have all their transactions and it is possible that they don't have much reserve of those coins, so they increase the fee to discourage customers from requesting for withdrawals.

[ImThour]

Why are some online gambling platforms having high withdrawal fee?

It's a really psychological trick I would say. When a user doubles his money, he goes to withdraw and sees that the withdrawal fee is so much that the user prefers to not withdraw it and gamble more. Which results in losing all your money and that is beneficial to the gambling platforms. IDK if it happened with any of you, but I have seen this sort of thing happening.

[ChiBitCTy]

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

Yeah this drives me nuts when online casinos have ridiculously high withdraw fees. I think it’s simply a way for them to make money, which doesn’t seem like much, but over time and over the course of all those transactions it’s adding up.

Regardless, it’s still better than the way it used to be where bitcoin wasn’t available and cashing out meant receiving a shady check from some offshore nation.

[uneng]

I feel sorry for casinos charging so expensive fees, because even though they may imagine to be having advantage by charging so much from gamblers, they are going to be the main prejudiced ones as soon as small gamblers find an alternative casino which has cheaper transactions' fees where they feel confortable depositing few bucks to play without worries of cashing out later.

To be greedy is never a positive decision for a business, rather it's always detrimental, because customers will reject any services they feel abused by.