Does covering user withdrawal fees work better for casinos?

[shield132]

When it comes to withdrawals, casinos have two types of business model:

1. Pay user's withdrawal fees out of their own pocket
2. User pays fixed withdrawal fee

I, as an user, prefer to gamble on a casino that pays my withdrawal fees because I feel like I'm treated better. I don't have to worry about not having enough money to meet minimum requirements when fees are added to my withdrawal. I'm also less careful about my deposit because I know, I'll get back what I left on my balance and nothing more will be deducted.

For me, it's okay to pay withdrawal fees if they are very low and near to real life cases, like, if the fee of average Bitcoin transaction is $0.50 and casino charges me that, I'm okay with that. If the Litecoin withdrawal fee is $0.01 and casino charges me $0.50, that's not okay for me. I prefer fair fees for every kind of cryptocurrency.

I would love to know, which approach works better for casinos to increase their revenue and retain more customers? I feel like casinos that pay withdrawal fees out of their pocket have more loyal customers and their customers also deposit more money than those who don't pay user's withdrawal fees. Is there any statistics that either prove or disagree with my opinion? Is any casino representative willing to speak about it? It is a nice topic to discuss.

[Charles-Tim]

For me, it's okay to pay withdrawal fees if they are very low and near to real life cases, like, if the fee of average Bitcoin transaction is $0.50 and casino charges me that, I'm okay with that. If the Litecoin withdrawal fee is $0.01 and casino charges me $0.50, that's not okay for me. I prefer fair fees for every kind of cryptocurrency.

This is how Stake is. The fee are very cheap. It is one of the cheapest that I have seen among the crypto gambling sites that I have used. I like how it is because it is not disturbing nor frustrating at all.

But if I see a gambling site that do not charge at all and it is a reputed gambling site, I will prefer it also, but if the fee is low, I also prefer it. I go for the two. What that is most important to me is their reputation.

I would love to know, which approach works better for casinos to increase their revenue and retain more customers? I feel like casinos that pay withdrawal fees out of their pocket have more loyal customers and their customers also deposit more money than those who don't pay user's withdrawal fees.

Both are good.
Both casinos will have loyal customers. You can go for the first one if you just want to start a gambling business because most customers will be losing than winning and they will not be withdrawing most time. You will use not charging any fee for withdrawal to attract them.

[Solosanz]

I, as an user, prefer to gamble on a casino that pays my withdrawal fees because I feel like I'm treated better.

There's no one in this world want to spend more than what it should be except they're an idiot.

I would love to know, which approach works better for casinos to increase their revenue and retain more customers? I feel like casinos that pay withdrawal fees out of their pocket have more loyal customers and their customers also deposit more money than those who don't pay user's withdrawal fees.

If there are two casinos:
1. Casino who offer many promotions and worth it to participate, but they charge additional withdrawal fees.
2. Casino who have not worth it promotions, but they not charge any fees.

I think the first one will likely make customers stay because it make them interested to gamble and they're discouraged to withdraw their funds, like they will withdraw if they're in profit, they won't withdraw in the middle of session.

[BitcoinGirl.Club]

When it comes to withdrawals, casinos have two types of business model:

1. Pay user's withdrawal fees out of their own pocket
2. User pays fixed withdrawal fee

You have not experience casino who pays the withdrawal fees for they players? Try sportsbet.io. how could you miss it lol

I prefer casino who allow small fees just to pay the network cost. Some casinos makes it as another revenue streams which is bad.

[Charles-Tim]

You have not experience casino who pays the withdrawal fees for they players? Try sportsbet.io. how could you miss it lol

I have used Sportsbet several times to win free bets in bitcoin, their withdrawal fee for bitcoin is 0.001 BTC. If I do not win up to the amount, I will not be able to withdraw.

I prefer casino who allow small fees just to pay the network cost. Some casinos makes it as another revenue streams which is bad.

I do not think it is bad if the difference is not much. Like if bitcoin network fee is $0.1 and the casino charges $0.5. But people will have their own preferences.

Edit:
Mistake. I was referring to minimum withdrawal and not withdrawal fee. I think the gambling site is not requesting for withdrawal fee at all, but just that the minimum withdrawal is high.

[joeperry]

I haven't think of this, usually casinos do pay for your fees I think it's one way of keeping their players playing in their platform or just a little treat to players, but there are some casinos that you'll required to pay a specific fee to withdraw, after all business is business and if you are going to add those fees (depending on the amount + the number of players that will try to withdraw) that would add up.

For me I would definitely go with casinos covering the fee but I think they have minimum withdrawal threshold which is understandable, they wouldn't let you withdraw just $1 and they will cover the fee right.

[nemesis_incarnate]

I haven't think of this, usually casinos do pay for your fees I think it's one way of keeping their players playing in their platform or just a little treat to players, but there are some casinos that you'll required to pay a specific fee to withdraw, after all business is business and if you are going to add those fees (depending on the amount + the number of players that will try to withdraw) that would add up.

For me I would definitely go with casinos covering the fee but I think they have minimum withdrawal threshold which is understandable, they wouldn't let you withdraw just $1 and they will cover the fee right.

The withdrawals wouldn't start from 1 dollar anyways

And if the fees are like on the blockchain in question - than it's okay.

[Luzin]

I would love to know, which approach works better for casinos to increase their revenue and retain more customers? I feel like casinos that pay withdrawal fees out of their pocket have more loyal customers and their customers also deposit more money than those who don't pay user's withdrawal fees. Is there any statistics that either prove or disagree with my opinion? Is any casino representative willing to speak about it? It is a nice topic to discuss.

I think sentence number one is the most interesting. Although I don't know if the casino owners are cutting into the users' profits in an unknown way. I think besides casinos many exchanges also offer discount options subject to certain conditions. I think you can make a poll here, casino owners may also rarely discuss in the forum. I think here many users are not casino owners.

[SATWAT]

You have not experience casino who pays the withdrawal fees for they players? Try sportsbet.io. how could you miss it lol

I have used Sportsbet several times to win free bets in bitcoin, their withdrawal fee for bitcoin is 0.001 BTC. If I do not win up to the amount, I will not be able to withdraw.

I prefer casino who allow small fees just to pay the network cost. Some casinos makes it as another revenue streams which is bad.

I do not think it is bad if the difference is not much. Like if bitcoin network fee is $0.1 and the casino charges $0.5. But people will have their own preferences.

Bro you're this statement is really shocking for me because I am also using @sportsbet.io for long time with 3 different currencies Bitcoin, USDT and TRX, but I have never been paying any fees for my any withdrawal.
But if they are taking fees from you its astounding for me, you have to check with them about or contact support because I never pay any fees as mentioned, and they are doing this for long time.

I am not familiar with other casinos so can't talk about them but about @sportsbet.io I surely can vouch for them because their support is also impressive always on time and their withdrawal is also free and quick which is their best part in last few years.

[maydna]

If the casino pays the withdrawal fee, the user will thank them and that can be one of the good services to their users. But if the casino cannot give that and still applies the withdrawal fee to their users, that will not be a problem. As long as the withdrawal fee is not too high, their users will accept it.

I don't know the statistics about that but as a user, I will be happy if casino pays my withdrawal fee. That will not reduce my money and that gives more people a reason stay at the casino. Perhaps, casino representative willing to speak about it especially for those who already applied it in their casino.

[Sim_card]

You have not experience casino who pays the withdrawal fees for they players? Try sportsbet.io. how could you miss it lol

I have used Sportsbet several times to win free bets in bitcoin, their withdrawal fee for bitcoin is 0.001 BTC. If I do not win up to the amount, I will not be able to withdraw.

Sportsbet.io don't charge for withdrawal fee if you deposit. It's because you were given free bets, that's why there was a wager requirement. How do you expect to get a free bet and still want to use that free bet to mame profits from the casino. Free bet is for fun and not to make profits which is the reason why you cannotmmeet up with their wager requirements.

[henry_of_skalitz]

I think sentence number one is the most interesting. Although I don't know if the casino owners are cutting into the users' profits in an unknown way. I think besides casinos many exchanges also offer discount options subject to certain conditions. I think you can make a poll here, casino owners may also rarely discuss in the forum. I think here many users are not casino owners.

There could be also fees smaller based on the VIP program, maybe.

 

[Cointxz]

I would love to know, which approach works better for casinos to increase their revenue and retain more customers? I feel like casinos that pay withdrawal fees out of their pocket have more loyal customers and their customers also deposit more money than those who don't pay user's withdrawal fees. Is there any statistics that either prove or disagree with my opinion? Is any casino representative willing to speak about it? It is a nice topic to discuss.

Withdrawal fee is just minimal amount which casino covered compared to the attraction it can give for them.

I myself preferred playing on free withdrawal fee casino like Livecasino that I’m still using until now. Although there’s some blockchain that already have minimal fee that almost just free still nothing beats totally free especially on currency like ETH and BTC that has high withdrawal fee.

[Peanutswar]

Currently im using with the Whale.io and that's one of the reason why I love their platform they offered to cater the network or the transaction fee every time I make a withdrawal but of course its not unlike with the other casino has an option how does it fast to transfer to the designated address but of course who don't want to get free with high fees recently. And its just one of their feature of course.

[Pmalek]

Increasing their revenue and retaining and increasing their userbase are two different things. They will increase their revenue if they charge players withdrawal fees. They will earn even more if they charge their players more. However, it's normal that players would prefer not to pay any withdrawal fees or minimal ones. They may leave if they feel the casino isn't being fair towards them.

What some casinos do is charge for example $5 for a withdrawal but pay only $1 in network fees, pocketing the rest. That's basically taking money that belongs to the players. Something they already won by risking their deposits earlier. But it is what it is and it has become a normal thing not just in online casinos but also exchanges. 

[betswift]

Withdrawal fee is just minimal amount which casino covered compared to the attraction it can give for them.

I myself preferred playing on free withdrawal fee casino like Livecasino that I’m still using until now. Although there’s some blockchain that already have minimal fee that almost just free still nothing beats totally free especially on currency like ETH and BTC that has high withdrawal fee.

That's really nice.

Interesting to compile how much you saved by betting like that..

[panjul07]

From player's point of view, of course we want the casino as the one who cover the wthdrawal transaction fee.
Although the withdrawal fee is mostly just small amount only but sometime it can be something big especially in casinos where they use dynamic fee.
From casino's point of view, as they are running business so it is reasonable if they do not want to cover withdrawal fee and prefer to charge it from the remaining balance or from the withdrawal amount itself.
I myself do not mind to pay withdrawal fee as long as the amount is reasonable enough because there are some casinos with unreasonable withdrawal fee.

[dimonstration]

Currently im using with the Whale.io and that's one of the reason why I love their platform they offered to cater the network or the transaction fee every time I make a withdrawal but of course its not unlike with the other casino has an option how does it fast to transfer to the designated address but of course who don't want to get free with high fees recently. And its just one of their feature of course.

As long as the transaction is already on the blockchain I think I have no complaints on waiting if the fee is just low for a slow transaction since I have an assurance that my money is already sent.

I have a nightmare from playing on a casino that delay withdrawal fee just because they don’t approve my withdrawal.

Anyway fee on casino is just very minimal if we use a fast blockchain but still free is the most preferred of many players if we have a choice.

[_act_]

From player's point of view, of course we want the casino as the one who cover the wthdrawal transaction fee.

If the fee is not high, I do not mind to be gambling on a gambling site like that. I do not mind the fee if it is low. This is one of the reasons I prefer to use stable coin to gamble and choose a blockchain that has low fee like the BSC and Polygon. But if the fee is free, it is not bad also if the gambling site is trustworthy.

From casino's point of view, as they are running business so it is reasonable if they do not want to cover withdrawal fee and prefer to charge it from the remaining balance or from the withdrawal amount itself.

If gambling sites are not charging for fee, they will still have more profit but just that they want more money as a business. Gambling sites with enough customers can never go broke if they take the responsibility of the fee charge.

[Russlenat]

There are probably only a few casinos now that offer free withdrawals, but I don’t really see it as a big issue as long as the fees aren’t overcharged like some exchanges do.

Especially with Bitcoin, network fees are pretty cheap now, so paying something like 0.001 BTC for a withdrawal would be way too much. I’ve heard exchanges charge that before. With casinos though, I usually gamble using USDT, and the fees are just around $1, which is very reasonable.