Casinos and gamblers are struggling with high tx fees.?

[Sandra_hakeem]

I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 1^1/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

Sandra 🧑‍🦰

[dothebeats]

Easiest answer is: they convert to other coins that doesn't have as much fees as bitcoin in current times. This is the only solution that I see is viable for people and gambling platforms to continue transacting without shouldering the cost that each transaction entails. Also, you could be right that they are offsetting the overall expenses they are incurring with the fees with something else, such as other profit funnels that they have established.

[Rruchi man]

do people still gamble with these high tx fees?

The high Tx fee may only be able to discourage gamblers who are not core gamblers, The core gamblers will always find a way around it so they can keep gambling. Some of them may not even consider the high tx fees because they cannot afford to not gamble. This can be a sign of secondary addiction, which is a kind of problem.

Asides the high Tx fee, they is also the fact that bitcoins value is increasing and many hodlers will remain unwilling to want to take risks with gambling with the bitcoins they have.

[Yatsan]

Well, we cannot do anything on this unless there is an option to use stable coins to gamble. Bitcoin and majority of tokens are in huge pump right now which made the transaction fees bigger than the usual. In these instances, I tend to just hold my funds in my account until the fees drops and until I needed the money which would made me accept high fees. This is why I am only using stablecoins. However, the market price of cryptos won't continously and consistently increasing forever which is why my option is to just wait for things to ease down including transaction fees. But there are also times I just withdraw despite of high fees especially if I have a decent amount of winnings; fees would be always a part of online gambling.

[uneng]

It's not a new issue in crypto market. From times to times it always happens and people always complain, but in fact it's a good thing, because it means the market is warming again. Meanwhile you can use altcoins to make  your transactions paying cheaper fees. That is not a scenario which may last for a long time, so be patient because things will go back to normal again soon in BTC blockchain, once miners spot the high profitability potential of the network through operating on the resolution of transactions, decreasing congestion and increasing fluidity, so transactions' costs can finally return to cheaper prices.

[avp2306]

I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 1^1/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

Sandra 🧑‍🦰

If they don't have any balance on their hot wallets then provably they will feel those high tx fee on each transactions they do. But usually casino put some huge balances on their wallet that's why we can see them continue operating and can able to pay their winners despite of how huge the fee occur and what price if you are concern about this placed at that time.

We can still see people gamble even if the fee is so high so I guess they are those individuals which doesn't care much about the fee and they only want to have fun. But other convert to stable coin since this is there way to continue to have fun on the gambling sites they usually play.

[Wiwo]

As far as I know,  stake charged me 0.00007 as fees for withdrawal,  so that means that Stake covers the remaining fees,  I think this is one of the most generous periods for casinos haven't to maintain stable transaction fees by covering for the extra charges which is something that is highly commendable of them at this point where the transactions fees are off the roof.

[danherbias07]

It is actually the other way around. I for instance don't like to withdraw because it's a waste of money from the transaction fees. So, there comes the problem where you are forced/urged to gamble the supposed to be withdrawn money. It will take a lot of discipline to not gamble the money that's in front of your face. 
I think many gamblers are in the same position as me when it comes to withdrawal.
In terms of deposits, I don't think it's much of an issue but gamblers would probably just save enough cryptocurrencies so that they can utilize it in one high transaction fee.

About gambling sites, I know they are using a dynamic feature when it comes to withdrawal fees, I am actually waiting on when they will change it because $3 does hurt in just one go. I mean, that could be used for several bets especially those who are betting small.
I think they are still waiting for the movement to calm down before they start changing it. Stake.com has 7k satoshis in withdrawal fees, just for information.

[len01]

It seems like your question has been answered by many people here that the best way is to use other coins which have lower costs and usually use altcoins which have much cheaper transaction costs and for me personally I gamble using money from the signature campaign and I save that budget in my account for You can still bet without having to make a deposit and can still use BTC.

[xLays]

I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 1^1/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

I'm not sure if my explanation would be clear, but I think some casinos wait for other players to cash out too in order to lessen the transaction fee. It's like there's a timeframe to wait for other players to cashout as well. If it takes a long time to wait for other players the casino will have to deal with that high transaction fee. However, for high rollers or VIPs they will likely disregard it withdrawals for them should be instant.

[Oshosondy]

do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

This is the third thread that is about high transaction fee on this board in just one week. If anyone can not use bitcoin this time because of high transaction fee, gambling sites are supporting other coins like litecoin, tron, USDT and few others which gamblers can use instead.

Some gambling sites like rollbit and bc.game are also supporting lightning network which are of low transaction fee. No gambler will get motivated with high transaction fee.

[moneystery]

regardless of high or low transaction fees, it will not affect gambling activities on online gambling platforms because usually gambling platforms will accommodate half or more of the fees for a transaction made by a gambler.

however, if we look at the current situation, it is better for gamblers to use alternative networks such as ln or they can use stablecoins such as usdt which are generally supported by major gambling platforms to get lower fees and higher processing speeds.

[ethereumhunter]

People who are used to gambling will still gamble but if they don't like high tx fees, they use other coins that don't have high tx fees. We are lucky because we can use coins like TRX, XRP, LTC, and others that do not have high transaction fees. But if you don't want to gamble using bitcoin because the transaction fees are high, you don't need to gamble.

There is no special motivation for gamblers because those who are used to gambling will continue to gamble. Meanwhile, people who don't want to gamble when transaction costs are high will not gamble. It depends on each person. I still gamble too but sometimes I use altcoins to anticipate high transaction fees.

[Hirose UK]

I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 1^1/3 of the usual influx.

Questions like this will not apply to large casinos that already have lot of customers and also large community, they have loyal customers with relatively different amounts of money but are willing to use it to gamble at the casino.
Moreover, in large casinos there are quite lot of gamblers who don't care about taxes or fees on every transaction because they really like gambling so costs are not burdensome problem.
It just that the flow of gambling activity in casinos has decreased slightly, but that doesn't mean they are losing profits or income because as I have said, there are still many gamblers who don't care about high costs.

do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

Sandra 🧑‍🦰

But for small gamblers like us, I might consider it little because of the increased transaction costs and prefer to reduce gambling activities that used to be twice week to once week.
I don't know how long this kind of increase in costs will last but this really creates difficulties for most small gamblers in particular.

[Jating]

I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 1^1/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

Sandra 🧑‍🦰

There are alternative coins that we can used though besides Bitcoin, but there could still be a lot of gamblers who continue with BTC no matter what. Some casinos doesn't charge fees for withdrawal, so this casinos should have enjoyed right now as gamblers might have to flock them to take advantage of their program.

But you can't blame gamblers today who uses cheap alterative or even USDT to deposit and withdraw just to continue with their gambling habits I doubt that they will simply stop just because fees are high not just for bitcoin but for any other crypto as well.

[|MINER|]

I don't think so that every casinos and gamblers situation are same at this time. That is true that only Bitcoin-supported casinos may face some difficulty when transaction fees go high. But if we see most casino or gambling websites currently have many options to withdraw and deposit. In that case, every gambler has the opportunity to withdraw or deposit coins that have the cheapest transaction fee. So I don't think they have to go through any struggle due to high bitcoin transactions.

[Unbunplease]

I agree with previous opinions that high transaction fees result in losses for players. At the same time, they lose funds in any case - even if they don't bet. The casino needs to compensate the losses with various motivating bonuses - otherwise there is almost no point in using cryptocurrencies when betting

[Marvelman]

Folks accustomed to placing wagers will likely continue doing so.  But when transaction fees get too steep, they'll opt for other currencies without such high associated costs.  Bitcoin's fees have ballooned recently, so gamblers convert their stash into coins like Dogecoin or Litecoin before transferring to casinos.  That's the only practical workaround nowadays for players. Either that or use a 2nd layer solution, like Lightning Network, if casino supports it.

[TheUltraElite]

Gamblers are not deterred by anything and fees are the least important to them. After not playing for a while, the dopamine surge is needed to get that high again and hence they will use methods to circumvent the high fees. This includes taking on site loans, using an altcoin to deposit or using a fiat casino for the time being.

Logically speaking it is better to wait it out and delay gambling for the time being. But logic does not work when it comes to gamblers. Hence the number of gambler might slightly reduce but would not be significant enough for the casino.

[nelson4lov]

~Snipped
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??

Sandra 🧑‍🦰

This isn't the first time that transactions have peaked in the mempool and casino and sportsbook will already have a way of dealing with it by now — probably exchanges are batching transactions to improve fee efficiency. This isn't on-chain gambling so users just need to deposit once and play. In-platform transactions are usually free of charge.

When ETH transactions reached $100 - $200, people still made transactions.