How Casinos Manage Withdrawal Limits and transaction Fees

[Davidvictorson]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

[goaldigger]

Several casinos have their minimum withdrawal fees that they have set up and which all their clients must adhere to.  Personally I know that the minimum withdrawal fee by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their minimum withdrawal fee is $10 and I have won $100 which I want to withdraw. I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

They have the minimum withdrawal for a different purpose, they are doing this to retain the gamblers and encourage them to gamble more. Like for instance, the minimum withdrawal is $100, now if you still have low money then you will be force to gamble more and that serve its purpose, I don’t think the purpose for this one is solely because of the fees.

[Stalker22]

Several casinos have their minimum withdrawal fees that they have set up and which all their clients must adhere to.  Personally I know that the minimum withdrawal fee by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their minimum withdrawal fee is $10 and I have won $100 which I want to withdraw. I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

Im not sure I understand your question. There is "Minimum withdrawal amount". This is the lowest amount a casino allows you to withdraw at once. In your example, it is $10. ANd there is "Transaction fee". This is a cost some payment processors charge for withdrawing your money from the platform.  In most casinos I play at, the transaction fee will be deducted from my total withdrawal at that time.

[Cantsay]

::/::
But what I don't understand is how this works. If a casino says their minimum withdrawal fee is $10 and I have won $100 which I want to withdraw. I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

You might want to consider checking my your post and making adjustments to it as it’s very difficult to get what you’re trying to ask here.

The part I bolded is not really clear - do you mean withdrawal fee or the minimum amount that can be withdrawn from the casino? Clarifying this would help us understand better what it is that you want to know and in return a proper answer will be provided - for now I doubt anyone understands your question.

[Sandra_hakeem]

The part I bolded is not really clear - do you mean withdrawal fee or the minimum amount that can be withdrawn from the casino? Clarifying this would help us understand better what it is that you want to know and in return a proper answer will be provided - for now I doubt anyone understands your question.

Exactly... These are two different things and he's like mixing up the whole thing thereby, making his post more complicated.

The minimum withdrawal LIMIT is set to retain a gambler that would just wanna wager and get away with their winning... Sometimes, people do awful things; like registering on a casino and making their first deposit just to claim the casino's bonuses.

I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

Your post isn't clear dude.. you're saying two different things in one caption.
We have withdrawals limits -- maximum & minimum.
We also have withdrawals fees....

[Fivestar4everMVP]

Several casinos have their minimum withdrawal fees that they have set up and which all their clients must adhere to.  Personally I know that the minimum withdrawal fee by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their minimum withdrawal fee is $10 and I have won $100 which I want to withdraw. I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

You are definitely getting something very wrong here, first, there is nothing like "minimum withdrawal fee" on casinos, what casinos have is "minimum withdrawal limit" which is the minimum amount you can withdraw, the fees the casino is going to charge you to process your withdrawal is often stated separately, for example..

There is no way you win a $100, and withdraw exactly $100 out of the casino when they said you will charge $10 as withdrawal fee, if and when you are withdrawing the $100, the casino will deduct $10 which is the fee that covers the blockchain transaction confirmation as well.

And lets say that you a casino charges $1 for withdrawal, with a minimum withdrawal limit of $1, the casino excepts you to only request for withdrawal when you have and are withdrawing more than $1, for example, if you request a withdrawal of $2, $1 will be deducted and the remaining $1 sent to your provided wallet.
This is how it works and I hope this is easy to understand.

[acroman08]

feels like you are talking about the minimum withdrawal amount, because as far as I know when withdrawing from a casino and they have a withdrawal fee they would either deduct it from the fund you have on the casino or on the fund you are going to withdraw. I think you should clarify some things since a lot of the members who have commented on your thread(including me) is a bit confused.

[Davidvictorson]

The post has been edited. I got the terms mixed up.

[yahoo62278]

Some casinos eat the fee(not many) but for the most part the fee comes out of your wd. The min wd is $10, the wd fee is roughly $1 you'll need $11 to receive $10. Honestly, if you're worried about withdrawing the minimum, you probably shouldn't be gambling at all.

[Davidvictorson]

Some casinos eat the fee(not many) but for the most part the fee comes out of your wd. The min wd is $10, the wd fee is roughly $1 you'll need $11 to receive $10. Honestly, if you're worried about withdrawing the minimum, you probably shouldn't be gambling at all.

Nah, I'm not worried at all about it. Just thinking about how stuff works at online casinos.

[AmoreJaz]

Several casinos have their minimum withdrawal fees that they have set up and which all their clients must adhere to.  Personally I know that the minimum withdrawal fee by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their minimum withdrawal fee is $10 and I have won $100 which I want to withdraw. I am able to withdraw the $100. so where did the money the casino use in processing the transaction fee come from?

You are definitely getting something very wrong here, first, there is nothing like "minimum withdrawal fee" on casinos, what casinos have is "minimum withdrawal limit" which is the minimum amount you can withdraw, the fees the casino is going to charge you to process your withdrawal is often stated separately, for example..

There is no way you win a $100, and withdraw exactly $100 out of the casino when they said you will charge $10 as withdrawal fee, if and when you are withdrawing the $100, the casino will deduct $10 which is the fee that covers the blockchain transaction confirmation as well.

And lets say that you a casino charges $1 for withdrawal, with a minimum withdrawal limit of $1, the casino excepts you to only request for withdrawal when you have and are withdrawing more than $1, for example, if you request a withdrawal of $2, $1 will be deducted and the remaining $1 sent to your provided wallet.
This is how it works and I hope this is easy to understand.

The OP should understood it by now, because most casinos are already showing their withdrawal fees upon withdrawal. If not, they will deduct it from the amount you are withdrawing. Very few casinos don't charge for withdrawal fees. Do remember, there is transaction fee in any blockchain. But for some, the fees are quite small, and that's when some casinos will shoulder that amount. But for btc, usdt, eth - in most casinos, they charge a certain amount upon withdrawing these currencies.

For example, in stake, they change the min withdrawal limit as well as withdrawal fees in btc, depending on the current fees on this network. However, it doesn't change everyday, it can be weeks depending on the market trend. You just need to look the fees and min withdrawal limit before withdrawal so you won't be surprise.

[yahoo62278]

Some casinos eat the fee(not many) but for the most part the fee comes out of your wd. The min wd is $10, the wd fee is roughly $1 you'll need $11 to receive $10. Honestly, if you're worried about withdrawing the minimum, you probably shouldn't be gambling at all.

Nah, I'm not worried at all about it. Just thinking about how stuff works at online casinos.

You might be able to send a pm to an operator or community manager and get an actual response. UserU, Stunna, Sir John Slotty or whatever his name is, or any number of other operators on the forum might be able to give you a detailed answer.

[alani123]

What exactly is the question here?

You want to know where the casino gets the money to pay your profits from?
Then there's this thing called house edge. Basically a casino has an advantage and more player money ends up being lost than won statistically. This averages out to the house edge percentage. For example dice usually has a 1% house edge.

If you're inquiring about transaction fees, it's a different matter. Transaction fees are paid to the network, but also sometimes the casino keeps a profit if they charge more than the network. Very rarely a casino will charge less for a transaction than it costs, although it happens. In these cases the money comes from their profits made form other losing players. Otherwise the user making the withdrawal pays for it.

[Davidvictorson]

You might be able to send a pm to an operator or community manager and get an actual response. UserU, Stunna, Sir John Slotty or whatever his name is, or any number of other operators on the forum might be able to give you a detailed answer.

Cool. Thanks.

[nelson4lov]

Only an operator or someone that knows the full details can provide such answers because I know for a fact that all platforms have different ways that the handle withdraw limits and fees so you'll defo get different approaches to it. Anything other than that is speculation. For one, I think that these platforms allocate a small portion of their profit to settle fees — an added bonus for players to continue patronizing them vs going to other platforms where the entire fees are borne by the users.

Reminds me of when FTX (now defunct exchange) offered zero withdrawal fees amongst all exchanges at the time.

[Hispo]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

Usually casinos either cover the minimum withdrawal with the profit from their operations as a business, while others will substract the fee from the balance to be withdrawn itself. There is no brainier there, I think, all is relstively straight forward.
If there is something which cashes my attention about casinos and their withdrawals if how they have managed to handle the insane number of request from thousands of gamblers at the same time, that is more interesting.
In that topic, my personal theory is they use some bit or script in order to automatically process all those withdrawals which involve small quantities, while Big withdrawals are managed by a human being and signed manually, in order for the casino to reduce the risk of lost funds.

[Wiwo]

In a lay man understanding I think fees are deducted from the amount in withdrawal,  let say staie have a $1 fees on their withdrawals, so if you have won the minimum witdrawable amount and you hit the withdrawal botton,  your fees get deducted from the entire amount and you get credit with whatever remains from that winning as your credits.

I may be wrong any ways and just as others have e suggested,  you have to contact an operator to get the accurate and clearer picture of how this works.

[Orpichukwu]

Just like exchanges, some of them will charge you the withdrawal fee from the minimum amount needed to be withdrawn. Some might deduct the fee first, and whatever's left will be considered as the available amount you can withdraw.
 
If you only have $10, which is the casino's minimum withdrawal limit, some might not allow you to withdraw it. You will need an extra $1-$2 in order to cover the fee, and the minimum can be withdrawn down to wherever you are sending it.

[Casdinyard]

Several casinos have their minimum withdrawal amount that they have set up and which all their clients must adhere to.  Personally I know that the minimum limit by casinos is mostly to offset or process transaction fee that could happen during withdrawal. But what I don't understand is how this works. If a casino says their  withdrawal limit is $10 and I have won $10 which I want to withdraw. I am able to withdraw the $10. so where did the money the casino use in processing the transaction fee come from?

*Edited for better understanding

Thanks

you have to understand that these fees are imposed upon the customer to ensure that the business stays active, and oftentimes in casinos, they have multiple facets of transactions that they could incur fees to, deposit for example, allows the casinos to right then and there play with your funds by giving you credit while they take your real money, drinks, other amenities, and in some cases, lodgings and stays are also other ways casinos make bank, so if they could allow your 10 dollar withdrawal as you are trying to say, I guess that's because the fees are literally "on the house" for your particular case.

Some casinos like stake are also charging the fees directly from the money that you're trying to move, so, let's say you have 10 bucks you want to withdraw out of the casino wallet, they could take it out directly from the wallet itself, charging you virtually nothing but leaving you with less money that what you wanted to have withdrawn, for some this works as it doesn't require you to put out even more money in the process, to some this is cumbersome, as it forces you to have less than what you would've wanted. 

[Dr.Bitcoin_Strange]

If you win $10, and maybe that's the minimum withdrawal limit for that casino, and perhaps the casino says their withdrawal fee is $1, but after you withdraw the $10, no fee was charged, that should tell you that the casino might have offered you a zero-fee privilege. If a fee was charged, that means $1 will be subtracted, and you cannot send out only $9. You will definitely need to keep gambling in order to win extra money to be able to meet the withdrawal limit after the fee is removed.