Does covering user withdrawal fees work better for casinos?

[pawanjain]

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.

Are there any gambling sites which do not charge withdrawal fees at all ? How am I not aware of any ?
Whichever site I gambled on or heard of, charges the users a withdrawal fees for their withdrawals.
Yes, some of do charge a lot while the on chain transaction fees are not that much still they charge more and that's a spoiler.
I would prefer let users decide their own withdrawal fees or at least provide them an option for slower withdrawals with cheaper fees.

[Charles-Tim]

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.

I edited the post, I made a mistake. It is not withdraw fee but minimum withdrawal.

Free bet is for fun and not to make profits which is the reason why you cannotmmeet up with their wager requirements.

I did not post that free bet is for making profit.

Also generally betting and gambling should be for fun and entertainment and not means of making profit.

It is worth knowing that I have won money using the free bets several times, got to the minimum withdrawal and I withdrew money on the gambling site. I still have one free bet waiting there for me also, probably if it has not expired.

[Haunebu]

I prefer gambling at sites that don't charge any withdrawal fee at all though I zero issues with sites that charge negligible withdrawal fees matching the fee of some popular cryptocurrencies these days.

The ones that charge higher than normal withdrawal fees are just pathetic, greedy sites that want to squeeze every last penny out of their customers plain and simple.

[DiMarxist]

All the casinos I have used so far have their teams of service on withdrawal. All deduct the withdrawal fee from the participants account and not from their own pocket. Op you are the first person I am hearing that casino pays withdrawal fees from their own pocket. Example.  If a casino give a withdrawal limit, it will deduct the fee from that limit. Eg. $10 and in this amount they gave to deduct their commission and send the remaining balance to your account.

[danadc]

I also prefer the casino to pay that fee, especially when Bitcoin withdrawals are made and there's a lot of congestion because prices go up at that point but most casinos have had a low fee that can be paid, another option is to charge a fee but allow an internal exchange where you can convert it to a stablecoin. This is important but since I like to play at a casino where I feel comfortable , what I look for first is that Once I'm comfortable, I think a fee can be paid without any problems.

[348Judah]

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

This is also strictly business, some will not request for a withdrawal fee all because they understand the way gamblers will appreciate this as opportunity and be rest assured of using their platform each time as to make withdrawal can never be an issue for them, just as the way they never finds it difficult to make deposit, while in some cases, some will charge below $1 and I've seen those that charged more than $5 to make withdrawal, to me, they are doing this to keep gamblers on the run of using their entire money to gamble, when they consider the cost, it may be discouraging, they may then decided to leave such for playing game instead of going towards the withdrawal fee charges.

[Youngrebel]

I also prefer the casino to pay that fee, especially when Bitcoin withdrawals are made and there's a lot of congestion because prices go up at that point but most casinos have had a low fee that can be paid, another option is to charge a fee but allow an internal exchange where you can convert it to a stablecoin. This is important but since I like to play at a casino where I feel comfortable , what I look for first is that Once I'm comfortable, I think a fee can be paid without any problems.

I don't know what to say on this matter because casino is a business platform and they will do everything to get money to run the system and in the other words, the gambler (s) would also like to withdraw the complete winning of the casino. And I believed every player or gambler would like the casino to pay the transaction fee.
Oh yes there are casinos that pay the fee while some are not. But those who didn't pay for the gamblers take small percentage from the gambler's account to process the transaction.

[PX-Z]

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

Free transactions will always be the number one choice and most preferred by users, who wouldn't like something free, after all? Whether the fee is equal to or even lower than the current recommended network fee, users will still choose the one covered by the casino.

On the other hand, fixed fees are more convenient for casinos from a technical perspective, as it simplifies the coding and integration compared to dynamic fee calculations. But let's be honest, it's also a way for them to earn extra profit.

[salad daging]

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.

It is acceptable if withdrawal fees below $1 are charged to customers, as this is still considered reasonable. However, Bitcoin withdrawals can exceed $1 even though normal Bitcoin transactions are $0.5. Most withdrawals are below $1 for altcoins, but Bitcoin is different.

There are still some casinos that offer free BTC withdrawals, but most are above 0.001 BTC.

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.

Casino revenue comes from various sources and doesn't solely rely on withdrawal fees. In fact, some casinos offer free withdrawals. However, players would be happier and more loyal if casinos offered such promotions, as it's clear that many players want casinos to implement free withdrawals so they don't have to be charged to customers.

[iv4n]

No withdrawal fees is definitely appealing. It’s one of the perks of a good casino. As some members already mentioned, even a small fee that just covers the network cost is fine. But some casinos charge high withdrawal fees, and that’s just not fair. We can guess why they do it, but in the long run, I think it does more harm than good to their reputation and popularity.

But those of us who remember some high withdrawal fees years ago can't complain these days... transactions & withdrawal fees are pretty low, and we have so many alternatives (different chains).

[Dr.Bitcoin_Strange]

Apart from the local casino&bookmaker that I have been using for a long time now, non of the casinos on this forum that I have used before permitted a free withdrawal, the ones I used always had withdrawal fees while withdrawing but that's not even a major concern for me, as long as the fee ranges between $0.01 to $1, I don't have problem but when a casinos has a withdrawal fee of $2 and above, I don't use the casino because I consider the fee to be very high. Normally I lose more than I win, so my cut the small winning I get with their high fee? There are many other casinos that doesn't charge above $1, why will I abandon them to go for a casinos charging high fee. It even attracts customers to see casinos or bookies that offers free withdrawal.

[nemesis_incarnate]

No withdrawal fees is definitely appealing. It’s one of the perks of a good casino. As some members already mentioned, even a small fee that just covers the network cost is fine. But some casinos charge high withdrawal fees, and that’s just not fair. We can guess why they do it, but in the long run, I think it does more harm than good to their reputation and popularity.

But those of us who remember some high withdrawal fees years ago can't complain these days... transactions & withdrawal fees are pretty low, and we have so many alternatives (different chains).

Yep, some just don't really put their eye into it at all: but when you do understand how much you could of saved, it clicks.

[Hispo]

...

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 am certainly feel attracted if I discover some casino which would cover my withdrawal fees, but also we need to give some further analysis to why a casino would do it and whether it is worth judging a casino only because such feature. It could be something being used by low liquidity/small casinos to attract more gamblers, but they do not actually have time proven reputation or much money to cover big wins by their gamblers if in the case someone of them hit a jackpot.
I don't mind to pay for my withdrawals, as long as they are fair and match the average fee with is needed to carry out a transaction of each one of the coins the casino supports. It makes sense to pay half dollar for a Bitcoin withdrawal if the network is not busy and the meempool is almost empty, but it does not make any sense having to pay the same to push a Litecoin transaction through. Casinos are not supposed to profit from transaction withdrawals.

[henry_of_skalitz]

...

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 am certainly feel attracted if I discover some casino which would cover my withdrawal fees, but also we need to give some further analysis to why a casino would do it and whether it is worth judging a casino only because such feature. It could be something being used by low liquidity/small casinos to attract more gamblers, but they do not actually have time proven reputation or much money to cover big wins by their gamblers if in the case someone of them hit a jackpot.
I don't mind to pay for my withdrawals, as long as they are fair and match the average fee with is needed to carry out a transaction of each one of the coins the casino supports. It makes sense to pay half dollar for a Bitcoin withdrawal if the network is not busy and the meempool is almost empty, but it does not make any sense having to pay the same to push a Litecoin transaction through. Casinos are not supposed to profit from transaction withdrawals.

I would think that if they have zero fees, it's somewhere else where it wouldn't be a "zero", and somebody else's platform would have a zero too.

It comes out only after testing a having experiences on many platforms

[Bitinity]

For marketing purpose or in other words to make a better service for players, it is obvious that covering the withdrawal fees will be better for the casino because there are many players who cares about withdrawal fee. I can say that even a few cent difference may make players choose the casinos with lower withdrawal fee (in case the casinos in comparison are all reputable). If casino can provide free withdrawal fees for players, of course it will be a big point for players but if casino cant provide free withdrawal fees, providing lower withdrawal fees will be much better.

[Wapfika]

On casino perspective I believe it’s better for player to shoulder withdrawal fee to reduce their expenses especially if they have a lot of players that withdrawing funds frequently.

Withdrawal fee is only too small for players to pay when they are in profit since most of gamblers initiate withdrawal when they win.

As a player I obviously preferred free withdrawal fee.

[melinoe]

On casino perspective I believe it’s better for player to shoulder withdrawal fee to reduce their expenses especially if they have a lot of players that withdrawing funds frequently.

Withdrawal fee is only too small for players to pay when they are in profit since most of gamblers initiate withdrawal when they win.

As a player I obviously preferred free withdrawal fee.

I also don't think people withdraw everything in small sums: they would put everything they've won probably on the get-go.

But having the fee covered would be just a nice touch

[Lida93]

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

This is also strictly business, some will not request for a withdrawal fee all because they understand the way gamblers will appreciate this as opportunity and be rest assured of using their platform each time as to make withdrawal can never be an issue for them, just as the way they never finds it difficult to make deposit, while in some cases, some will charge below $1 and I've seen those that charged more than $5 to make withdrawal, to me, they are doing this to keep gamblers on the run of using their entire money to gamble, when they consider the cost, it may be discouraging, they may then decided to leave such for playing game instead of going towards the withdrawal fee charges.

All are business strategy to attract customers when a casino isn't taking withdrawals fees, but in all what I really take into account before all else is the reputation of the casino, and then their withdrawal speed. But it's an advantage to the gambler that he gets to use a casino with a free withdrawal fee, in that way you are sure of getting back all your money in one piece. But should a casino charge for withdrawal fees it shouldn't be something high, anything below $0.50 fee charge seems okay for me.

[Russlenat]

All are business strategy to attract customers when a casino isn't taking withdrawals fees, but in all what I really take into account before all else is the reputation of the casino, and then their withdrawal speed. But it's an advantage to the gambler that he gets to use a casino with a free withdrawal fee, in that way you are sure of getting back all your money in one piece. But should a casino charge for withdrawal fees it shouldn't be something high, anything below $0.50 fee charge seems okay for me.

If the fees are affordable, then it’s an expense they can handle. After all, there’s something called a rollover requirement, meaning you need to wager 100% of your deposit so the system won’t be abused. Though some casinos allow withdrawals even without completing the full rollover, eventually they’ll notice the pattern in your activity and you might get flagged.

[Fivestar4everMVP]

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.

I also have always preferred casinos that go that extra mile to make sure that they are at least doing something for their players on a regular, like them being responsible for paying their users withdrawal fees and so on, most blockchains networks at the moment don't have high transaction cost with many and even bitcoin maintaining a transaction cost of less than $1 for several months now, the only blockchain network I would say maybe it's still expensive to transact on is ethereum and this is why they have lost a lot of users.

So, any casino that goes that extra mile of taking care of transaction fees for their users is one the users won't abandon, like Stake for example that chargers $0.1 for usdt  of usdc withdrawal to any evm wallet, this is not free but as good as free cus I know a lot of casinos that charge way higher even up to $5, $10 dollars.