Casinos and gamblers are struggling with high tx fees.?

[alani123]

I do like seeing BTC in my account when gambling but to be honest when fees are so high I will entirely give up transferring small amounts in Bitcoin. It's just not worth it to have to pay 15$ in transaction fees when I would want to make a bet of 5$. But there are alternatives really. Instead of just sending BTC from my wallet I could either gamble at a casino with more crypto options. Some casinos also support depositing with credit card, which is also convenient.

[seoincorporation]

...
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 🧑‍🦰

That's why most casinos give us the option to gamble with altcoins, if users want to save money on fees and have fast confirmation they can always use coins like DogeCoin or LiteCoin. Personally is what i do when the mem pool gets full. To pay high fees and wait a lot of time for a confirmation is not a good option.

And we have to be careful with the stable coins transaction, the ones in the ETH network used to have high fees too, is always better to use BSC or Tron.

[Oasisman]

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..

Well, they offer several kinds of altcoins as a currency used to bet other than stable coins and bitcoin, especially those that doesn't have high transaction fees but transaction speed is still fast.
Some casinos may have offer to use LN so the users could still prefer to use bitcoin maintaining the low transaction fees and still fast.
Apparently, there are a lot of ways to eliminate high transaction fees by using altcoins, so I guess it's not gonna be a huge problem for the casinos and gamblers.

[Wexnident]

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 🧑‍🦰

They convert their coins, don't they? That, or they just move it all at once to save up on fees. I mean they're not like your usual trader who transacts only a small amount, they probably do it on a day per-day basis or maybe even weekly to avoid that hassle of constant withdraw/deposits. Not to mention that holding the coins themselves probably wouldn't net them that much of a loss.

As for gamblers issues with fees, casinos have fixed that problem long ago by introducing altcoins with relatively lower fees. You'd be hardpressed to find casinos that only offer their services using only a single coin really.

[Litzki1990]

Gambling is already very risky, it is very confusing for us to gamble where there is a high chance of losing money, whether we win or lose we have to pay tax. The government may have set a higher tax rate on gambling. Even if you win a gamble with extra tax, the winnings don't seem like much because of the extra tax fee. There are many gamblers who take various steps to evade tax. Additional taxes are the most harmful thing for a gambler. In case of gambling first one has to pay taxes to the government and secondly one has to pay additional transaction fees for transferring different coins these two things are the most confusing thing for a gambler.

[FinneysTrueVision]

Depositing to a casino doesn't necessarily need to have such a high cost. If you are using a non-custodial wallet you can always set a low fee if you are willing to wait a while. For some people it may still not be worth it if they only have a small amount of BTC to gamble with or if they don't want to incur high costs when withdrawing. In that case using turning to low fee altcoins can be a solution depending on what coins are accepted by the casino. Lightning would be ideal for Bitcoin-only casinos but unfortunately most of them don't want to invest resources into implementing this.

[killerfrost]

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 many different options for users to deposit money to online casinos. As a game that I use occasionally, I honestly rarely transfer BTC, probably because of the trading volume. The small size as well as the speed made me switch to other cryptocurrencies like USDT.

And this problem is really normal as the convenience is resolved between players and Casinos, and one thing I have to admit is that crypto payments are just another form of payment for players gambling, as most platforms also support direct payments through visa/mc .

[traderethereum]

For now, with the increase in transaction costs from bitcoin, gamblers are using altcoins if they want to deposit some money for gambling. That can help gamblers who still want to gamble at times like these.
But we know that those who already gamble often won't stop them even if bitcoin transaction fees become higher. They can use other methods to keep gambling.
Casinos won't have much of an impact with high transaction fees but we don't know. Maybe the casino will also increase its transaction fees to match existing transaction costs.

[sana54210]

To most casinos which have a high volume of gambling and bets it is not a problem to them to pay a some extra so their withdrawals still get processed in a relatively fast manner, that has been the approach of Stake, since the congestion started earlier this year.
On the other hand, I think people will still keep their normal where in spite of the increase of fees within the Bitcoin Network, they can either be more patient and wait more for their deposits to take place, or they may also use some altcoins to compensate their deposits which would be made in BTC otherwise.
Even though all this can be indeed a frustrating situation with the fees, it is only a relatively small obstacle for casinos and gamblers, specially the dedicated ones.

Even the best casinos may end up spending way too much on transactions and still fail, because the blocks are quite heavily volatile right now, they end up being like one price at one moment, you pay just a little bit more and get it quickly, then it rises even more than what you paid so you end up waiting.

It is not really an issue right now to me, it can take as long as it should, as long as I am provided with a proof that the money is sent to me, I feel like I am going to end up being fine, I will not care about it. I get that some people may want quicker returns, but to me that's not really a big deal, I can just feel fine about it and not really care when it arrives, I know it's on the way so why would I care, it can take as high as 24 hours and I will be able to wait. This is why I keep saying they shouldn't even pay that much fee for my transaction, just pay that money to me and I would be willing to get paid slower but get paid a lot more money as well.

[retreat]

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 think that increasing bitcoin fees on the network is not disturbing at all for gamblers considering that most crypto gamblers use alternative networks besides bitcoin for their gambling activities. For example, I use Litecoin which I think is faster, cheaper and easier to use for deposits or withdrawals from my gambling platform. Using Litecoin is no different from using Bitcoin, so I thought why force myself to use the Bitcoin network for my gambling activities, and maybe other gamblers also think the same way as me.

[Sunderland]

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 🧑‍🦰

It will have a big impact to any casino who only using a Bitcoin as the deposit method. Its a doomsday for them, there is no way to fix it.
Except if they dare to burn the money with cover the user transaction fees, but I doubt any casino will do that.

Things should be normal on any casino who offers different coins as the deposit method because small/med or non VIP users will use other coins.
For highrollers and VIP with thousand of dollars deposit, Im pretty sure $10 to $30 is not a big deal for them and they are aware of what happen with the BTC network.

[paxmao]

This is a common issue of course but that is inherent to bitcoin and the currently chosen block size that is unlikely to change in the near future as it is the income of the miners that support the network. However, there are always cheap fee alternative, so you need to seek for sites that would accept Litecoin or other low-fee alternatives to the Bitcoin transaction itself.

[bounceback]

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 🧑‍🦰

I am with your position regarding highest fees transaction when using bitcoin for depositing fund, some responds give alternative convert from bitcoin to be fiat or altcoin how to reduce fees transaction. But not all gambling platform supported with altcoin deposit, last days I won sport betting and my balance $0.001 BTC and minimum withdrawing before fees deduction is 0.001 BTC, my fund not enough yet and I have thing when deposit btc to my gambling platform account need bigger fund because fees transaction of bitcoin highest right now. Its easily convert to altcoin when btc fees highest but not all gambling platform have altcoin fund deposit.

Not easy for gambling platform with bitcoin fund deposit supported only because transaction get delay more than two hours and need to pay higher fees each time deposit and withdrawing.

[coolcoinz]

I'm sure they're doing fine. It's the gamblers that have to adjust.

How are the gamblers adjusting? They use other coins, they wait longer before withdrawing, they deposit more instead of many small transactions a month they deposit a single one, some use lightning.
Of course last but not least, they pay lower fee and wait longer for their transaction. You don't have to pay $20 to send your bitcoin. You can pay $5 and it's still going to get through, just in 2 days or something like that. Don't be greedy guys, just wait and don't lose money for nothing.

[LUCKMCFLY]

For now, with the increase in transaction costs from bitcoin, gamblers are using altcoins if they want to deposit some money for gambling. That can help gamblers who still want to gamble at times like these.
But we know that those who already gamble often won't stop them even if bitcoin transaction fees become higher. They can use other methods to keep gambling.
Casinos won't have much of an impact with high transaction fees but we don't know. Maybe the casino will also increase its transaction fees to match existing transaction costs.

Well, when a player  is in the casino for example at stake.com, things are usually done in different ways, first of all we are people who like to enjoy the game and it is known that we are not playing a lot, because we want to do things very well. And for that reason, the least we should think about is the fee rates because of how high they are or something like that, that's why I'm talking about this casino because the transaction rates are quite low, but things have to happen right, also in Bitcoin. They don't even charge a Transaction fee to leave and make a good withdrawal, so if we play in casinos that are really reliable, that take care not to think that this could be one of the ways that could harm us with bitcoin, at least In these casinos it is like that , of course, not all casinos currently have this, the casinos now have many that do not have this that they assume the majority of the fee, or that the fee is very small, there are only a few casinos that do it.

Now, when we are in the process of doing the best possible in a game, we must always maintain the best, sometimes we as players have a lot on our mind , First of all some players are not very well, because they feel stressed, they Feel pressure to to be Able to win, in reality we do not Know how many struggles players have in a casino, there are some who play with the prevailing need to win, something that I never recommend doing, but no matter how much it has been talked about in different forum forums, There arePlayers who still Believe that the Casino is or can be Considered a job, or that they can earn an Income Similar to that of a job or something like tha t, that is Something that we should never Alow , that is why we should always do everything possible to be well with Everything, and a casino that at the end of the day afterDoing good management, the least we want is for them to take money from us just for withdrawing , that is what we Should avoid.

[mvdheuvel1983]

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??

Why do I gamble or what have I done to mitigate the effects of the high transaction fee? Here's some -

• I have reduced the number of times I gamble from 3 times per week to 1
• I leave a huge portion my winnings in my casino wallet reduce deposit into my wallet
• I sometimes use other crypto
• I have reduced the amount I used for wagering.

[redsun114]

For now, with the increase in transaction costs from bitcoin, gamblers are using altcoins if they want to deposit some money for gambling. That can help gamblers who still want to gamble at times like these.
But we know that those who already gamble often won't stop them even if bitcoin transaction fees become higher. They can use other methods to keep gambling.
Casinos won't have much of an impact with high transaction fees but we don't know. Maybe the casino will also increase its transaction fees to match existing transaction costs.

Maybe that's true, especially if you are a budget gambler and you are also addicted in gambling. But there are still die-hard Bitcoin fans who will continue transacting using BTC no matter what.

Or if they are also in budget, they can wait for a while and go back playing again when the high fees have subsided. Given that there are those types of gamblers, casinos can get affected as well in terms of their sales but those casinos who only support a few coins, (mainly the bulky ones) are the ones who are going to be affected the most. I wonder why they still stick on that principle. Hhmm...? Is it possible that the people behind it are also a select crypto enthusiast? But yeah casinos are adjusting their fees accordingly.

[Queentoshi]

do people still gamble with these high tx fees?

The casino business may only have been affected the first time and within that time that the transaction fees suddenly went up, but right now, everything is back to normal for the casino business because gamblers have adjusted to the fees and how they will put money in their account to gamble with. It is only the people who are not gamblers and have other fun alternatives to gambling that will consider stopping gambling for the now until the fees normalize.

[darkangel11]

Casinos will manage, just like any other company that uses bitcoin. Fees are nothing we should be worrying about. Let's face it, how often do you deposit on exchanges, or casinos?
If you used to do it once a week, do it once a month now? Increase the amount of money sent and fees won't hurt you that much. Use lightning network more and in extreme cases deposit on exchanges. In case of emergency you'll be able to exchange bitcoin fast. I usually don't recommend that but this is for people who bet on sports and need to act fast. It's really not worth it to send $20 with a $10 fee, so if you're one of the people who need to deposit such small amounts of bitcoin, use custodial services.

[lombok]

The recent increase in Bitcoin transaction fees is very disturbing. It is better to avoid transactions using Bitcoin and always check transaction fees before making transactions using Bitcoin, in fact there are many other crypto options for making deposits or withdrawals on gambling sites. However, it will take a little time and effort if we have to exchange it to another crypto.