Small balance in casino wallet

[Davidvictorson]

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ? is it better to transfer it immediately after each session ? or, do you have any other reasons ?

I treat my online casino wallet account the way I treat centralized exchanges wallet account.
They are like going to the store, you go there buy what you want and then leave. You do not stay there.
It is a place strictly for transactions and that is all.
I am even draw another analogy with a recreational center where we go to have fun.

What I am referring to here is small balances that can still be withdrawn. Whether it is from weekly, monthly, reload, and others.

My advice is to withdraw whatever amount you have in the account. With crypto, the time of deposit is fast so you don't need to be worried about funding your account. This is my own perspective because of my low trust for these types of businesses.

[Africolo]

Like we know, currently active casinos may become inactive (no longer operating) at some point. When that happens, there is a chance that funds in users' wallets will disappear, especially if the casino can't refund users. However, I'm sure reputable casinos will maintain their reputations, and they will be responsible by allowing users to withdraw funds within a reasonable timeframe.

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ? is it better to transfer it immediately after each session ? or, do you have any other reasons ?

What I am referring to here is small balances that can still be withdrawn. Whether it is from weekly, monthly, reload, and others.

This is a very important topic that everyone needs to pay attention to because if anything happens to a casinos that has your money and are no longer in operation you will loose such money especially when the casinos can't make a refund and it's not quite easy that a casino in distress will do a refund to their players if they crash so it not ideal to leave a huge amount of money in one's casino wallet while gambling because it's risky.

Casinos having a good reputations most times doesn't guarantee that the players won't be at lost if the casinos gets banned or stop functioning so players shouldn't keep money or leave a little money they can afford to loose in case the casino is at risk or hacked, what I do every time I want to gamble is to fund my wallet for that moment I play, I don't leave money in my wallet.

[o48o]

Like we know, currently active casinos may become inactive (no longer operating) at some point. When that happens, there is a chance that funds in users' wallets will disappear, especially if the casino can't refund users. However, I'm sure reputable casinos will maintain their reputations, and they will be responsible by allowing users to withdraw funds within a reasonable timeframe.

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ? is it better to transfer it immediately after each session ? or, do you have any other reasons ?

What I am referring to here is small balances that can still be withdrawn. Whether it is from weekly, monthly, reload, and others.

What gave you an idea of using casinos to store your money in the first place?

But then again, accidents happen, and i had money in freebitco.in that i had forgot there ages ago, because btc was worth nothing at the time. They kept it and i got to withdraw it. If i had waited that money would probably be gone like their website is now. And with small amount in there, you would waste your money trying to get it out with a lawyer.

I only keep money in them, when i know i am going to gamble in that month and i would avoid casinos that charge a fees for inactive accounts. Last time i saw a ToS from one of those, their terms were really vague.

[Odusko]

Like we know, currently active casinos may become inactive (no longer operating) at some point. When that happens, there is a chance that funds in users' wallets will disappear, especially if the casino can't refund users. However, I'm sure reputable casinos will maintain their reputations, and they will be responsible by allowing users to withdraw funds within a reasonable timeframe.

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ? is it better to transfer it immediately after each session ? or, do you have any other reasons ?

What I am referring to here is small balances that can still be withdrawn. Whether it is from weekly, monthly, reload, and others.

This is a very important topic that everyone needs to pay attention to because if anything happens to a casinos that has your money and are no longer in operation you will loose such money especially when the casinos can't make a refund and it's not quite easy that a casino in distress will do a refund to their players if they crash so it not ideal to leave a huge amount of money in one's casino wallet while gambling because it's risky.

Casinos having a good reputations most times doesn't guarantee that the players won't be at lost if the casinos gets banned or stop functioning so players shouldn't keep money or leave a little money they can afford to loose in case the casino is at risk or hacked, what I do every time I want to gamble is to fund my wallet for that moment I play, I don't leave money in my wallet.

Is very important that we pay attention to this topic indeed, but what I also know is that, we don't have such people endurging in such practices as to rely on a crypto casino wallet to store their money, most especially money that is outside the one their deposits to gamble with or they winnings, I mean keeping their investment on a casino thinking because of their reputation their can be trusted as a custodian of your Bitcoin or other cryptocurrencies.

[WhoYouCantKill]

Is very important that we pay attention to this topic indeed, but what I also know is that, we don't have such people endurging in such practices as to rely on a crypto casino wallet to store their money, most especially money that is outside the one their deposits to gamble with or they winnings, I mean keeping their investment on a casino thinking because of their reputation their can be trusted as a custodian of your Bitcoin or other cryptocurrencies.

I doubt anyone would be that foolish too. The only one I’ve seen is someone who won some money in a casino and refused to withdraw the funds but decided to keep it inside the casino wallet. In fact I might have even done that before, and even though that’s such a stupid idea, it’s a bit more understandable because it might be that one just want to avoid going through the hassle of having to make deposits whenever they wanna gamble again. But simply just depositing money into a casino account or wallet, with the sole purpose of safekeeping, now that’s total foolishness, and I don’t think anyone would be that foolish.

[Nwada001]

Is very important that we pay attention to this topic indeed, but what I also know is that, we don't have such people endurging in such practices as to rely on a crypto casino wallet to store their money, most especially money that is outside the one their deposits to gamble with or they winnings, I mean keeping their investment on a casino thinking because of their reputation their can be trusted as a custodian of your Bitcoin or other cryptocurrencies.

If there was no single wager deposit attached to every deposit that comes into a casino, some users could have turned it in their safe place to be keeping their holdings as long as they are comfortable with the casino, but since the mandatory 1x wager what players settled for is to keep their winning that could have been withdrawn out in their balance and be making withdrawal gradually like they are spending from their self custody wallet.

[Mayor of ogba]

A casino can shut down its operation at any giving time or period, and it's not all casinos that will give its users timeframe to withdraw their money. If you know you are going to stay for a long time without gambling, my advise is for you to withdraw your money immediately you finish each session, but if you will continue gambling, there's no need of withdrawing your money, just leave your money on your casino account to free yourself the stress of funding your casino account anytime you want to place a bet.

[Ronsbit]

OP, from the response of members, you already know what to do with respect to the question you have asked. Your assets should be under your custody not with any third party including casinos. Any wallet you have no access to the private keys does not belong to you so casinos can not guarantee the safety of your assets that is why you are advised to always withdraw your wins from casino platforms and maybe keep just a little you can use to play games whenever you want to.

[tread93]

Like we know, currently active casinos may become inactive (no longer operating) at some point. When that happens, there is a chance that funds in users' wallets will disappear, especially if the casino can't refund users. However, I'm sure reputable casinos will maintain their reputations, and they will be responsible by allowing users to withdraw funds within a reasonable timeframe.

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ? is it better to transfer it immediately after each session ? or, do you have any other reasons ?

What I am referring to here is small balances that can still be withdrawn. Whether it is from weekly, monthly, reload, and others.

Yes its definitely better to avoid these casinos altogether.  They will surely claim your remaining funds upon closure and honestly it's a scammer tactic to make more money

[JoyceBTC]

Firstly, casinos are not a place to store money or bank. You deposit in casino to play games but if you choose to leave any fund there, it up to the user but it better to avoid such risk of losing funds when casinos go inactive. If you choose to leave your funds in any casino maybe for the next game you choose to play, it should be a little amount you can afford to lose, so even if the casino no longer exist and you lose your funds, it won’t affect you. No casino is meant to be fully trusted, one need to be security conscious at all time.

[sokani]

Of course, and casinos assume that the moment you deposit funds you are free to gamble with them, that's why some casinos have policies that allow them to deduct a certain amount from the balance if the user becomes inactive.

here are some example.

Casino	Inactivity Period	Fee Deducted
Sportsbet.io	12 months	5% of balance monthly
BitStarz	6 months	Minimum €5 monthly
Bets.io	180 days	$10 monthly
Loki Casino	As defined in terms	$10 monthly
Rolletto	60 days	20% of initial dormant balance monthly

Thanks for sharing this. I didn't know such policies existed. I believe the reason for this policy is to encourage gamblers to wager their funds immediately after making a deposit, rather than leaving them in the casino for an extended period, and I think that's a positive approach. I wish all casinos could adopt such policies so that gamblers would stop using casinos as a wallet.

[danadc]

Leaving funds on the casino balance is not the problem; the problem comes when gamblers start to use the casino as a place to hold their assets, thinking of and dealing with casino wallets as custodial wallets.

You're right about that, it's actually quite reasonable because many players do that. I remember FreeBitcoin had that option and it gave them an annual return; I don't remember exactly how much, but they offered that service. But if casinos are making that kind of offer, it's very difficult for me to trust them with my funds, because it's very easy for them to launch an attack and compromise those funds.

It's much better to have our own wallet and manage our own private keys.

[Dogedegen]

Of course, and casinos assume that the moment you deposit funds you are free to gamble with them, that's why some casinos have policies that allow them to deduct a certain amount from the balance if the user becomes inactive.

here are some example.

Casino	Inactivity Period	Fee Deducted
Sportsbet.io	12 months	5% of balance monthly
BitStarz	6 months	Minimum €5 monthly
Bets.io	180 days	$10 monthly
Loki Casino	As defined in terms	$10 monthly
Rolletto	60 days	20% of initial dormant balance monthly

The Rolleto one is crazy, that sounds like the casino is a scam and is trying to pray on people that are inactive and forget about balances. Make sure never to play at places like that. Sportsbet.io 12 months seems much more appropriate. Overall we must seek balance between that a casino should be doing and what it is doing to discover who are the good guys and who are the bad guys.

There is no point in keeping your money in a casino after you are no longer gambling anymore, once your gambling activities are over withdraw your money back into your bank account.

You can leave small amount of money if you are certain that you are coming back the next day, strictly for those gamblers that are too exposed to gambling.

I don't gamble everyday, I prefer two days in a week, there is no reason to leave a lot of money on a casino once I am done gambling, it can take me three days before coming back and it's possible that many things would have happened by the time.

This is not really a strong argument because you can apply it this same way to a bank or anything else. So there is no point in keeping money in the bank once you pay your bills, you should keep it empty until there are next bills and if you want to buy something with your card in the time between you won't be able to.   The same reason people don't empty their bank accounts after each time they are done paying something is the same reason why people don't empty casinos, it is simply more convenient and they can't be sure if they will come back to play in 5 days or tomorrow.