Things that still make feel awkward with some online casinos

[bitbollo]

This can defined as a strategy adopted by some gambling sites because they know that whales doesnt care about It.
perhaps when many sites Will decide to use light networks to manage withdrawals and deposits, the high  fees will be a "thing of the past". I think there is a bit of "reluctance" to accept this upgrade, but is something that cannot be avoided.

[Findingnemo]

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.

From user POV its a robbery but from the business POV its their source of revenue generation, its same on the cryptocurrency exchanges too normally they seek about $25 dollar worth of Bitcoin as withdrawal fee not as transaction fee so they can make money in this way too and it's justifiable too because of the service they are providing and nature of cryptocurrency value.

[mindrust]

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.

Yes that's robbery. They have the right to ask a withdrawal fee for the bitcoin withdrawals but they shouldn't do this for the other cheap alts that transact nearly for free. You can also vote with your wallet. Don't play on the casinos that ask ridiculous withdrawal fees. Support the casinos that has low withdrawal fees and that problem will solve itself. You can also make posts in the casinos own ANN thread so the manager of the casino will be aware of that problem. If nobody tells him about this, he will think that he is doing it right.

[piebeyb]

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.

For whales maybe a withdrawal fee of $5 or $10 doesn't matter to them, but what about small gamblers of course it's huge and that value can actually be used to bet as well, so I think small gamblers will definitely look for a casino that has cheaper withdrawal fees and of course it's safe , I know a lot of casinos still have high withdrawal fees and I hope they also change the withdrawal fees a little with lower fees so that gamblers feel comfortable playing.

I think casinos should pay attention to small gamblers who actually play much more loyally than big gamblers whose number of players can only be counted on the fingers of their hands, but this is where it matters that casinos rarely pay attention to that.

[KTChampions]

I honestly observe this with many different crypto websites not even casinos. Some companies try to gain extra money through transactions. I also think its very close to robbery. Online casinos can generate huge amount of money through players/gamblers anyways. I think low fees promote usage anyways. I find it very awkward and disruptive. I think casinos should not treat their customers as cows that they will milk money away.

Many services are not interested in the user making many I/O transactions (the service bears the risks of KYC/AML), so they deliberately inflate the cost so that the user does as few such operations as possible. This probably affects user loyalty, but since so many services have a high commission for such operations, it can be assumed that the profit received from this compensates for the loss of loyalty.

[lizarder]

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.

Aren't you free to choose another casino if one of them has high withdrawal fees. Online casinos are also closely related to the business they run, so they try to provide high withdrawal fees for each transaction, the goal is obviously to get much bigger profits, but if they intend to develop the casino to be bigger and have a good reputation usually costs will continue to be adjusted when they find a lot of criticism.

It's better to choose a casino that offers many features, both deposit and withdraw using DOGE and LTC, so you can convert as you wish without being burdened with large fees when making a deposit or withdrawing, there are many options you can take and it depends on how you choose before.

[btc_angela]

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.

I guess it boils down to business, the high transaction fees are going to fluctuate though, as you can see in the mempool right now, ~50 sat/vB for a low priority and then ~79 sat/vB if you want your transactions to be included in the next block.

So that is expensive again, it fall to like ~15 sat/vB, but here we go again and it could increased this weekend again.

But I do agree in your sentiments, the best case scenario for us is that casino's not charging as transaction fees as it is a burden for us specially if we have lost so much money already to them.

[DoublerHunter]

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.

I guess it boils down to business, the high transaction fees are going to fluctuate though, as you can see in the mempool right now, ~50 sat/vB for a low priority and then ~79 sat/vB if you want your transactions to be included in the next block.

So that is expensive again, it fall to like ~15 sat/vB, but here we go again and it could increased this weekend again.

But I do agree in your sentiments, the best case scenario for us is that casino's not charging as transaction fees as it is a burden for us specially if we have lost so much money already to them.

^ Definitely right, it is business that they will also generate profit by this withdrawal fee but as I know most of them use a third party when it comes to withdrawal fee and they called it, (Payment Processor Fees). It could be to sustain their operations and invest in further platform development. Online casinos often rely on third-party payment processors to handle transactions. These processors may charge fees for their services, which can contribute to the overall withdrawal fee. So the transaction fee on the network plus their processing fee, looks like a robbery to us.

[Yatsan]

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?

More of policy than robbery.
Unfortunately, that's just how platforms work; they have different withdrawal fees. Factors I guess why in some platforms withdrawal fees are high is price of the crypto as the mode of payment, being registered, and high quality of service. Whenever the market value of Bitcoin is increasing, transactional fees are also getting higher. On the other hand, a platform have paid for its registration or whether it is regulated or taxated, they have to put a raise on the withdrawal fee to cope up with this in return. Lastly, if the platform has high quality of service, top of the line UI and other features we don't often see among majority of gambling sites 'coz that is somewhat their investment; putting a lot of effort to the platform and to make up with those effort is high internal fees.

[dunfida]

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?

More of policy than robbery.
Unfortunately, that's just how platforms work; they have different withdrawal fees. Factors I guess why in some platforms withdrawal fees are high is price of the crypto as the mode of payment, being registered, and high quality of service. Whenever the market value of Bitcoin is increasing, transactional fees are also getting higher. On the other hand, a platform have paid for its registration or whether it is regulated or taxated, they have to put a raise on the withdrawal fee to cope up with this in return. Lastly, if the platform has high quality of service, top of the line UI and other features we don't often see among majority of gambling sites 'coz that is somewhat their investment; putting a lot of effort to the platform and to make up with those effort is high internal fees.

Fees could neither be;
Static or Dynamic on which we know that if its static then it would really be a fixed amount of fees which would really be deducted out on the time that you do make out withdrawals
and most of them are really having that dynamic which is something preferrable because you would really be basing up on network situation in regarding  the fees but of course it would
really be having its cons because they would really be adjusting according on the market condition which we do have recently where fees rose upto $20 per transaction which is something that very high for anyone
to take as means of withdrawal fees.

This is why on the times on which we do look that each platform does have their own taking on setting up withdrawal fees whether of those two types. Some are making money out of it
and some arent really just minding that much and there are even ones who do offer withdrawal fees which is great but not something that common nowadays.

[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.

I guess it boils down to business, the high transaction fees are going to fluctuate though, as you can see in the mempool right now, ~50 sat/vB for a low priority and then ~79 sat/vB if you want your transactions to be included in the next block.

So that is expensive again, it fall to like ~15 sat/vB, but here we go again and it could increased this weekend again.

But I do agree in your sentiments, the best case scenario for us is that casino's not charging as transaction fees as it is a burden for us specially if we have lost so much money already to them.

^ Definitely right, it is business that they will also generate profit by this withdrawal fee but as I know most of them use a third party when it comes to withdrawal fee and they called it, (Payment Processor Fees). It could be to sustain their operations and invest in further platform development. Online casinos often rely on third-party payment processors to handle transactions. These processors may charge fees for their services, which can contribute to the overall withdrawal fee. So the transaction fee on the network plus their processing fee, looks like a robbery to us.

It is accepted that they are using Payment processors fee from 3rd party provider
but the problem here is that there are almost casino sites that uses 3rd party but they are not asking for higher fees , this is the question needs to be answered , because comparing to others , there are only fee that charge so much high then what is the issue about that?
I still asks this in mind though I am not affected because never play in casino with such fee collecting ,
casinos that I am playing has literal lower fees and this is why they are called most trusted and played casino in online world specially crypto casinos.

[BenCodie]

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.

There are two reasons for this:
1. The fee changes every day, setting a high fee ensures that the casino will never lose money on the withdrawals they process.
2. It's another means of profit. Casinos are not built to be fair, they are built to make money. If they can make $1-$4 per withdrawal and they process 100-1000 withdrawals per day, that's anywhere between an extra $100-4000 in profit for them.

So, why not? Gamblers need to withdraw, or they need to win more to make up for the fee (which increases the chance they lose everything) so it's smart business from their perspective.

Is it right? No. The fee should be dynamic as to current network conditions, that would be the fair and right thing to do. However, casinos are not fair, or right. So you can't expect that from them.

[Wexnident]

I reckon most casinos( or any centralized company thay handles crypto) have a set amount that they use, plus a service fee. It might not dynamically change depending on immediate changes in the mempool, so they're slow in the update, and if they actually do, it's either because the fees became higher than what they originally set or because of a cycle, e.g. having a set fee for the entire day whichever is set at say, 12mn, where updates will only ever happen if as I said, fees go higher than what they set.

It doesn't really hurt them that way, could even be additional profit so they don't particularly mind having to change it. It's just business, and their customers still use them so they don't really see any need to actively reduce/adjust the system.

[Crypt0Gore]

Very true, it's not only some online casinos but also some exchnages and other websites too, they solely making money through withdrawal fees, for example, OKEX has the cheapest withdrawal fee for tokens on ERC-20 but compare Kucoin, is a cheating bastard on this part, they take up to 12$ for tokens withdrawal while OKex takes 3$, I've seen some thread about withdrawal fee of all available online casinos, you should do your own research on that.

Crypto exchanges and casinos are built to make money, but only few of them want to be less greedy, that's why I will keep using Binance and Okex exchange more than any other, I am using Roobet as my main gambling platform and fees are fair enough, just find one that suits your taste.

[KTChampions]

Very true, it's not only some online casinos but also some exchnages and other websites too, they solely making money through withdrawal fees, for example, OKEX has the cheapest withdrawal fee for tokens on ERC-20 but compare Kucoin, is a cheating bastard on this part, they take up to 12$ for tokens withdrawal while OKex takes 3$, I've seen some thread about withdrawal fee of all available online casinos, you should do your own research on that.
~

I feel your pain bro  I immediately thought of this exchange as soon as I saw this topic. But why 12? I withdrew USDT a couple of months ago and these bastards charged me 25 dollars and to be honest after such a predatory commission I have no loyalty to them. They have no KYC (within the limits that interest me) and everything seems to be fine there, but this robbery when withdrawing my funds made me angry.

[Davidvictorson]

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.

I noticed on some casinos that they are trying to take advantage of the bitcoin situation but the I wouldn't blame them. I would blame the gambler who returns to them over and over again when they have other options. I also understand that casinos use this fees to offset some their their costs such as operational costs, and also for processing withdrawals. You may want to reach out to their customer care agents to get clarifications and inquire what your other options may be.

[Fortify]

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 still relatively recently that these high cost transactions were occurring on the blockchain, it's possible that casinos started to enforce much higher transaction fees because they were getting complaints of incomplete withdrawals. Maybe they've manually interfered with the fee amounts and need to reset whatever intervention caused this. Ultimately it is a fault of crypto that transaction fees could even spike up so high, so your annoyance might be misplaced but it's also fair that these companies which make a living from such transactions become better at adapting their software to the up to the minute environment. Transaction fees last time I checked were still relatively high compared to a few weeks ago, even if it was way from the peak.

[livingfree]

On this situation, they can't shoulder the dynamic fees that's being set in the network and that's why those withdrawal fees that they set are also changing.

Not to blame these casinos but they're just doing that depending on the status of the network. Because if you look now at the mempool, the typical quickest transaction and its fee is around more than $4.

Thus, this is being adjusted by the casinos that have that much fees in your opinion. So, they're also sending that adjustment to their customers that are about to withdraw.

[Smack That Ace]

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 still relatively recently that these high cost transactions were occurring on the blockchain, it's possible that casinos started to enforce much higher transaction fees because they were getting complaints of incomplete withdrawals. Maybe they've manually interfered with the fee amounts and need to reset whatever intervention caused this. Ultimately it is a fault of crypto that transaction fees could even spike up so high, so your annoyance might be misplaced but it's also fair that these companies which make a living from such transactions become better at adapting their software to the up to the minute environment. Transaction fees last time I checked were still relatively high compared to a few weeks ago, even if it was way from the peak.

Except for a few coins, almost all altcoins have low withdrawal fees. Bitcoin and Ethereum fees are just out of reach but on the Tron network you can still withdraw coins for nominal fees.

There is no fault on the part of the casino sites to increase withdrawal fees on the Bitcoin network and ETH network, if the fees are high then they have to pass along to the players. It is possible, however, to take alternative measures in light of the current situation and considering the needs of users. If you withdraw Bitcoin from the casino at such a fee, there will be no profit. It may be possible to introduce a swap system in this case.

Casinos can introduce BTC to LTC or BTC to TRX swap systems if they want, then I think these problems will be solved.

Regards

Duke

[QueenVera]

This is a broad day robbery and u think the gambling  regulatory body should look into this matter and bring an end to it before it finally  gets out of hand.
There are several  things that I find awkward  on other casinos especially  on the new ones and except for the high transaction  fee which is a red light to me, the other is time or duration  for payment processing  and the moment a casino delays either deposit  or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period  of time now and the moment a casino  isn't transparent, then it's a no go area for me.