Gambling sites and current transactions fee

[Darker45]

Overall, I think gambling sites charge lower fees than centralized exchanges like Binance. There are even some that charge zero withdrawal fees. But if your gambling platform of choice charges high transaction fees, there are always other options. If you want to stick around, however, surely there are other crypto options available. Litecoin, for example, is cheap and is also normally offered in majority of gambling sites. There's a reason why it surpasses even Bitcoin in daily transaction volume.

[1714290677]

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[arjunmujay]

It is true that large transaction costs will affect the results of gambling. but when viewed in terms of USD currency. if you look at the price of bitcoin itself, it certainly becomes very cheap because the income from gambling is also very large even far from the transaction costs themselves.

try to choose an exchange with a small transaction fee, and use a segwit address instead of using a legacy one. and if possible, use altcoins to deposit or withdraw from the gambling site you are using. that way the transaction costs I think become more affordable and not burdensome to each other especially for low income gamblers.

[Die_empty]

This is the reason why I always keep gambling funds inside my gambling site accounts , yeah I leave small funds in each casino that I love to play being ready for this kind of situation .i have learned this many time before and yes now I know how to manage congested market.
so this may be lessons for those who loves to gamble when they have time to try let your small funds inside the site(of course like investing only the amount you can afford to lose) so you have multiple target , to have gambling funds ready? or to use as Holding amount.

Keeping gambling funds in a gambling account might sound right because of the current high transaction fees but it is not the ideal thing to do. Some people have the problem of gambling more than they should if they have much funds in their casino account so they prefer to transfer little funds periodically. Others also deposit funds for gambling weekly or even monthly based on their gambling plans or budget and transaction price has been high for a few weeks now, so it still affects them. Keeping large funds in casinos could also be risky because they are centralised platforms that could be unpredictable. However, some reputable casinos have stood the test of time.

Overall, I think gambling sites charge lower fees than centralized exchanges like Binance. There are even some that charge zero withdrawal fees. But if your gambling platform of choice charges high transaction fees, there are always other options. If you want to stick around, however, surely there are other crypto options available. Litecoin, for example, is cheap and is also normally offered in majority of gambling sites. There's a reason why it surpasses even Bitcoin in daily transaction volume.

Gamblers prefer to use the gambling platforms they are used to and the ones they also trust. Many gambling platforms cannot be trusted so it is always better to be loyal to gambling sites that have a reputation. Seeking other transaction alternatives will be a suitable solution. Using some altcoin will be nice due to its low transaction fees. Casinos should also give gamblers cheaper payment options like using the Lightning Network to deposit funds. I also saw a discussion where people said that some casinos allow customers to gamble with zero transaction confirmation. This means gamblers could use a lower transaction to send funds and they could gamble as the casinos wait to confirm the deposit.

[Popkon6]

It is true that large transaction costs will affect the results of gambling. but when viewed in terms of USD currency. if you look at the price of bitcoin itself, it certainly becomes very cheap because the income from gambling is also very large even far from the transaction costs themselves.

Transaction fees are usually relatively high because the price of Bitcoin has increased and there has been massive transaction traffic. Due to which the amount of gas fee increases due to additional transactions. Especially if you are transacting from Binance exchange to other exchange then of course you have to pay huge transaction fee. In this place, small gamblers face the danger of not being able to transact even if they want to.

try to choose an exchange with a small transaction fee, and use a segwit address instead of using a legacy one. and if possible, use altcoins to deposit or withdraw from the gambling site you are using. that way the transaction costs I think become more affordable and not burdensome to each other especially for low income gamblers.

You said transaction in USD is really possible for big gamblers but not possible for small gamblers (if they do below 5 or 10 USD). Gamblers in particular benefit if the transaction fees are low and gamblers are most likely to bet. Because there are all gamblers, big and small, some gamblers have a small amount of wealth.

[Peanutswar]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Exchange charges more than the gambling casino and also still if you don't want to get hurry with your gains you can hold it for a while and wait for the hype of the market congested with the bitcoin transaction, recently the transaction fees soar high up to 300 sat/byte so its not good to commit your transaction if you just want to pull it out just around a 100 dollars. If the gambling platform you are using have their own exchange right there try to use the other coins for withdrawal so you don't need to pay a high fees.

[masulum]

Overall, I think gambling sites charge lower fees than centralized exchanges like Binance. There are even some that charge zero withdrawal fees. But if your gambling platform of choice charges high transaction fees, there are always other options. If you want to stick around, however, surely there are other crypto options available. Litecoin, for example, is cheap and is also normally offered in majority of gambling sites. There's a reason why it surpasses even Bitcoin in daily transaction volume.

As far as I know, gambling sites have different rates from exchanges. So, when we make a withdrawal, usually the rate on the gambling site will be more expensive than on the exchange. Maybe the difference isn't that much, but I think that's what makes gambling sites give gamblers cheaper fees for withdrawing money. Try checking on your favorite gambling site, when you are going to make a withdrawal, pay attention to the guaranteed rate for the withdrawal and compare it with the exchange, there is definitely a difference. Example, the rate on a gambling site per BTC is 44,000, the rate on an exchange might be 43,000 or whatever, which is definitely lower than the rate on gambling.

Maybe not all provider, but some of provider that i know, doing same method. CMIIW

[ethereumhunter]

try to choose an exchange with a small transaction fee, and use a segwit address instead of using a legacy one. and if possible, use altcoins to deposit or withdraw from the gambling site you are using. that way the transaction costs I think become more affordable and not burdensome to each other especially for low income gamblers.

For now, it is better to postpone sending any coins to the casino, and it is better to take a break from gambling first rather than get emotional because the transaction may be delayed. But altcoins can indeed be a solution to still being able to gamble by using altcoins as deposit coins. But taking a break from gambling can give us the opportunity to calm our minds from gambling. After all, we can go back to gambling whenever we want and there is still plenty of time just to gamble unless we are already addicted to gambling. That won't stop us from always gambling.

[Saisher]

Well, I think the best thing to do here is to wait and hodl if you had no other choice like Altcoins that offers cheaper transaction fees. For me, Doge, XRP and Shiba Inu has direct support from our local e-wallets though I am not sure if these coins are supported by the gambling site because most of the time they only accept Bitcoin.

The majority of casinos have anticipated this and they know that the majority of gamblers are also investors and supporters of altcoins so they made sure that players have the option to choose what coins they want to deposit, It's very rare to see casinos that only accept casinos, they will lose players and profit in times like this and I doubt if players will continue to play on Crypto casinos with only Bitcoin as the only coin they accept.
The most popular altcoins, players choose are Tron, Doge XRP, and USDT you can see this on the majority of casinos.

[Westinhome]

The majority of casinos have anticipated this and they know that the majority of gamblers are also investors and supporters of altcoins so they made sure that players have the option to choose what coins they want to deposit, It's very rare to see casinos that only accept casinos, they will lose players and profit in times like this and I doubt if players will continue to play on Crypto casinos with only Bitcoin as the only coin they accept.
The most popular altcoins, players choose are Tron, Doge XRP, and USDT you can see this on the majority of casinos.

The gambling sites was always friendly to the gamblers,because by that the gambler join to their site in the large number.The gamblers had lot of options to deposit to the gambling site,but if they get return in terms of bitcoin.This will help the gamblers to make some unique moves and help to earn more by just holding.Because bitcoin is the gold,any time it will give us more profit.It may be the reason for the OP had discussed about the potential for bitcoin to be used in the gambling site.Instead of holding at this specific time,the OP may use of the USDT,Doge and Tron for the gambling.This will affect the bitcoin holding gambler in the Binance exchange.

[kenshi222]

Except the money is is needed urgently to take care of an urgent need on ground, it's advised you allow the money stay in your wallet, because the charges are currently room high and in some cases you may spend almost half of your funds trying to place a withdrawal on the same fund buy then I'd you leave the money for this period you can het it latwr when the charges are down.

Holding the funds at the needed time will be the problem here,the gambler will gamble on daily basic.So the gamblers who want the money to deposit after the loss in the gambling site will leads to the huge pay of the fee.I had seen,their was small good news of reducing of 6$ from the 26$ transactions fee.And I had seen the transaction fee in the gambling site was still low,this mean holding the funds in gambling site after the win is better option.

Most gambling sites have the challenge of this transaction fee as it's beyond their powers, especially with funding , which lies within the exchange to regulate the charges on every transactions. Buy if you already have some crypto in your gambling wallet, you could choose to further Gamble with it so it increases by your wins and that way you get enough to pay for your transaction fee. Buy then you can still leave your coins there although thats a very risky idea because gambling wallet could be hacked.

As you said the gambling site was potential to handling this tough situation,even in the stake.com I had seen the transaction fee for the bitcoin withdrawal was just 0.00007 bitcoin,So it’s nearly 3 dollars for each transaction.More or less the gambling site had unique strengths to handle the tough transaction fee problem.But if we hold crypto in the gambling site,it will tempt us to do more gambling till we see bitcoin in crypto wallet.

[Casdinyard]

The market won’t change just cause you don’t want to pay for fees. Work around it or perhaps even urge gambling sites to work on features that would allow you to save as much money as possible. I say in times like these, you draw the line between using bitcoin/crypto for investing and for gambling. Use other reputable fiat casinos for the meantime if you really don’t care for the high fees in the crypto industry right now. And keep your assets in crypto in one safe space. That way you won’t have to be charged for high fees, and you still got a foot in the gas to keep sure that you’re not leaving the bitcoin bull run train anytime soon.

[TimeTeller]

The market won’t change just cause you don’t want to pay for fees. Work around it or perhaps even urge gambling sites to work on features that would allow you to save as much money as possible. I say in times like these, you draw the line between using bitcoin/crypto for investing and for gambling. Use other reputable fiat casinos for the meantime if you really don’t care for the high fees in the crypto industry right now. And keep your assets in crypto in one safe space. That way you won’t have to be charged for high fees, and you still got a foot in the gas to keep sure that you’re not leaving the bitcoin bull run train anytime soon.

Look for some reputable gambling sites which are charging dynamic fees.
And if they are charging static fees, check the amount and see where you can save some.
Or better yet, use cheaper alts to play and not use your btc for the mean time, if you are being too worried about it.
There are other alts that you won't feel getting ripped off. So it is actually your choice if you will stick to btc or other alts.

[kenshi222]

Look for some reputable gambling sites which are charging dynamic fees.
And if they are charging static fees, check the amount and see where you can save some.
Or better yet, use cheaper alts to play and not use your btc for the mean time, if you are being too worried about it.
There are other alts that you won't feel getting ripped off. So it is actually your choice if you will stick to btc or other alts.

The same translation fee issue again raised in both binance and the trust wallet.Since this both was hold by the same owner this issue was survive in the current market.Even many signature campaign delaying the payment to their campaign members.It was very happy to see the timely payment of Stake.com in spite of not delay a single day for the payment.Because of the professionalism the stake.com was always in the top of the bucket list of many gamblers.

The better way to handle this situation is the gambler should keep their money in the gambling site itself.Some of gamblers not ready to hold in the gambling sites,because they will play and use that money.But the fact is the self control must be the biggest factor hold by the gamblers in the gambling site.So he should control himself to play in the gambling site on their own opinion.

This transaction fee will affect the gamblers who use the bitcoin to bet in the gambling site,other people can easily deposit the other coins to play the same in the gambling site.

[Litzki1990]

Currently, excessive transaction fees have become a huge problem for a gambler or a user. If you have to pay $20 to $30 fee per transfer to withdraw money or deposit money or transfer money, it is not good for investors or gamblers like us. However, this will not be a major concern for gamblers as gamblers not only have to transfer BTC to gambling sites, but gamblers can transfer various stable coins to all gambling sites if they wish. It is foolish to gamble with Bitcoin already because Bitcoin is a coin full of potential and the value of Bitcoin is increasing day by day to catch up. High transaction fees have become a problem for those who regularly transfer bitcoins from one wallet to another.

[Rabata]

Due to the increase in Bitcoin transaction fees, the exchange platforms are charging extra fees and they treated it as a opportunity, I can say that their business is now making maximum profit. This is not the case only with Bitcoin. Yesterday when I was doing a stable coin USDT transaction I saw that instead of 1 USDT they were charging 1.5 USDT for withdrawal for my sportsbook. I wonder where ordinary investors will go if this is how their trading profit begins. In the current situation, I suspect that there is no chance for these transaction fees to decrease, but they will continue to increase as Bitcoin's popularity increases. At the same time, the dominance of BRC tokens will prevent Bitcoin from normalizing.

[kingvirtus09]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Binance is charging fee on bitcoin transaction excessively. They are really using it to make money for their own pockets.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

If it is small amount of money, move it using a lightning network. The fee is cheap.

I just want to ask, sir, how the lightning network is used. I have read about the lightning network, but I am confused as to how it works. I do not know where to start. For example, if I use electrum, what do I do?

Can you guide me on this matter if it's not too much trouble for you, sir, because the fee is very expensive now? To be honest, even though it's not gambling, it hurts my brain a bit if I just think about it.

[EarnOnVictor]

This high transaction does not speak well of Bitcoin and if it continues like this, it is only people with a high value of the asset to move that will be patronising it. Imagine someone who wanted to transfer just $30 into his casino's account, the person will part ways with a fee of over $12 at times, how much will then remain? This is so annoying. But as the situation is now, I believe that people are getting smarter, they are taking their businesses away from Bitcoin, and they do not have any choice for an obvious reason. Thankfully, casinos have options of depositing, and some even have more than 20 options yet, so it is not a must that we continue to deposit through Bitcoin.

But for those who have their money already deposited in Bitcoin, it now depends on the policy of the casino on withdrawals. In my experience, there exist some casinos that will charge you $0 for Bitcoin transaction fees when you withdraw. I don't know if they can still cope with that now, but if they do. In this case, you do not have any problem, and it can be worse for the house if the transactions are many. But for those casinos that have fixed amounts charged for withdrawals, in my experience, they cover for the excess charges as well. But recently, I noticed they've started increasing the fixed amount charged for withdrawals, and still, they cover for the excesses since the Bitcoin transaction fee is way more than the fixed amount they charge.

[ethereumhunter]

Transaction fees that have soared due to the bull run have caused gamblers who use bitcoin to complain because they are having difficulty paying the transaction fees. Many gamblers don't use much money to gamble but must pay high transaction fees. It is a choice for gamblers to realize that maybe it is time to take a break from the world of gambling and look for other ways that are not related to gambling. We must survive this situation until transaction costs return to normal.

We don't know when transaction fees will return to normal. We can only be patient and maybe many of the gamblers will switch to using altcoins to gamble. That's the solution we have today if we want to keep gambling, and there are many altcoins that have low transaction fees, so we don't need to worry about them. Continuing to gamble is the gambler's choice, and no one forces us to continue gambling. As wise gamblers, we must understand the situation and conditions.

[Taskford]

Currently, excessive transaction fees have become a huge problem for a gambler or a user. If you have to pay $20 to $30 fee per transfer to withdraw money or deposit money or transfer money, it is not good for investors or gamblers like us. However, this will not be a major concern for gamblers as gamblers not only have to transfer BTC to gambling sites, but gamblers can transfer various stable coins to all gambling sites if they wish. It is foolish to gamble with Bitcoin already because Bitcoin is a coin full of potential and the value of Bitcoin is increasing day by day to catch up. High transaction fees have become a problem for those who regularly transfer bitcoins from one wallet to another.

Well that usually the main case if they use bitcoin since we will be force to pay such huge fee if we continue to use it despite on its current condition. But maybe there are less gamblers using BTC now since for sure more are into altcoins since this is cheap alternative for them to continue their gambling activities. Maybe their bitcoin balances is for now intended for DCA or HODL purposes since bitcoin market is so far doing great.

Hopefully all is well with bitcoin and fees go more lower so that there will be no huge problem to occur if we want to transact bitcoin on any transactions they want to spend their bitcoins. But for sure gamblers can get used to it if this problem will continue to happen since we still have cheap alternatives available in the market.

[piebeyb]

Hopefully all is well with bitcoin and fees go more lower so that there will be no huge problem to occur if we want to transact bitcoin on any transactions they want to spend their bitcoins. But for sure gamblers can get used to it if this problem will continue to happen since we still have cheap alternatives available in the market.

In my opinion, the cost issue will still be a problem for bitcoin forever, because bitcoin should no longer be suitable for use as a means of payment because the very high transaction costs make it not good enough for micro payments or other payments, I prefer bitcoin as my investment asset which is not moving so I just keep it until it's expensive in the future, so I don't use it for gambling or paying for things with bitcoin.

I think anyone can still use other friendly crypto alternatives with cheaper transaction costs to gamble or pay for something on the internet, so in my opinion, bitcoin gamblers who are currently still active in using bitcoin, I consider them to be rich people because of the high value of bitcoin. the more expensive it is, they still use it to gamble and have fun instead of using it as an investment asset for the future.