Small balance in casino wallet

[kingstep]

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 ?

Why should you ever treat a casino as though it is a bank? we have always made this statement that one should gamble with what you can afford to loose and when it comes to the money that you put into gambling, it follows the same order and you should also accept your fate if you are using gambling platform as a place for storing your asset.

If a reputable gambling platform wants to cease operation, what they will mostly do is to inform players weeks  before they officially become inactive. if they fail to do so, there is no point looking at them to be a reputable one because a lot of peoples funds would have been at stake.

[xenomorfo]

Never keep a balance in the casino, in any exchange it is not recommended, unless you have a small balance in the casino and forgot to withdraw it, so that when there is an update where they will close the operation then you can withdraw to a non-custodial wallet.

It is better to withdraw the balance to another casino to bet again, if indeed the balance is only a small amount, but what we experience is never to save in the casino, one is to spend or withdraw when there is money left over.

This is the harsh truth of crypto in fact, you don't have to keep money but not only in the casino but everywhere.
Better if you keep them and this is precisely why bitcoin was born, to keep your own money.
If you delegate to others, you risk your money, poof, disappearing.

[WhoYouCantKill]

Centralized casinos are not banks. The fact that a site is reputable today doesn’t mean they’ll be around forever. We’ve experienced more times where casinos that were actually reputable suddenly exit scam, got hacked or even suddenly froze customer’s accounts and restricted them from withdrawing. All these are most likely to happen to any casinos, which makes keeping money in your casino balance very dangerous, especially with the intentions of saving the money there till whenever you need. I used to do this before, but when I got to realize how dangerous it was, I immediately stopped.

[taufik123]

-snip-
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.

Thinking of depositing money in casinos alone is a wrong thought, let alone Casinos, places like Exchanges alone that are centralized are also a big threat of losing money and some are also exposed to hacking cases.
Even hardware wallets, which used to be held as the best asset storage, have now changed completely with many hacks such as Coldcard and ledger.

Especially casinos that don't even have a reputation yet or already have a high reputation.
It is not recommended and casinos are just a place where you play and bet.

Some cases of casino hacks like the one that happened to Duelbits are also a warning, but the best fact that happened after the Duelbits hack,
the duelbits party replaced all the hacked wallets and went back to normal.

A casino that is truly trusted will do anything for the satisfaction and safety of its customers.

[red4slash]

In this case we must be aware that since the beginning of the casino is not a bank so it is very wrong when mwnghubung gambling with savings as for when to deposit our deposit balance a few days/weeks it does not mean the concept of gambling turned into saving but indeed the way gambling works is like that by storing in a wallet temporarily before the termination to Withdraw or not.

When there are leftovers in the wallet (even the smallest ones can still be tricked if they want to be taken but sometimes gamblers rarely see this and focus more on their gambling activities than the small ones in the gambling wallet.

[Cityhunter34]

A casino sites is not a bank where you can easily run to, so we shouldn't leave money there that you would affect us if anything happens, because it's not longer a new thing. Personally, I don't usually leave enough money in my casino account no matter how reputable it is; I always try as much as possible to keep an amount that wouldn't affect me negatively, because I always used what happened to others as a lesson. So it's something that we need to put into consideration when gambling to avoid regret.

[Jubilee58]

Storing money in your casino wallet is not advisable because not all the casinos are reliable, and in the case of closure they can abscond with your fund without giving you any signal. Another reason you should not store money in your gambling wallet is because each time you gain access to your gambling wallet you will be enticed to gamble with such fund, and to me it doesn't show discipline, and responsibility. When you make a win, the right thing to do is to withdraw your money to a safe place probably your bank account living in gambling wallet will make you loose the money you have won back to the casino company.

[Patrol69]

If you had mentioned the specific amount, then maybe I could have answered you accordingly. Those of us who gamble regularly, I think we keep some money in our gambling account because we need this money for gambling. However, keeping some money does not mean that we only keep the money in the gambling account from the beginning to the end. I have an idea that if I keep this amount of money, I will be able to bet and I keep a certain amount in my account according to that idea and sometimes I do not make my gambling account completely free because sometimes some things seem like opportunities to me and I think it is a good thing to keep a certain amount of money in the casino account to utilize those opportunities.

[serjent05]

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ?

It is best to avoid using casinos as a place to store our money because we don't have direct access to the fund inside the casino.  Every time we need to use the money that is store in a casino, we have to request their approval to withdraw the funds.  Aside from what you are saying, if the casino goes bankrupt or is hacked, there is a huge possibility that our funds will be lost.

is it better to transfer it immediately after each session ? or, do you have any other reasons ?

Always make sure that we withdraw all our funds after our session.  The reason is simple, just like what they say in Bitcoin community, not your key , not your coins

[Josefjix]

So, I am curious: do you think it should be better to avoid using casinos as a place to store your money ?

It is best to avoid using casinos as a place to store our money because we don't have direct access to the fund inside the casino.  Every time we need to use the money that is store in a casino, we have to request their approval to withdraw the funds.  Aside from what you are saying, if the casino goes bankrupt or is hacked, there is a huge possibility that our funds will be lost.

And there is every possibility of getting back your funds from a reputable casinos that gets hacked, Duelbit and gamdom got hacked few weeks ago, and I'm sure users that got attacked were settled because they've shown reputation too. It's always best to play on reputable casinos incase a mess happens.

[X-ray]

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 ?

It sounds weird you still asking this kind of question while you have commented on the gamdom's hack thread. Don't you learn from what happened to the Gamdom and Duelbits this year. Those were getting hacked, do you think it's safe to store there? 

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

What amount?0.001 USD?0.01 USD?0.1 USD or 1 USD? If losing that small amount of money is not burdening you, you don't need to care with it.

[Muba20]

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.

Keeping funds in a casino account means not having full control over that fund. As long as the gambler gambles, he can keep balance in his casino account, but if he has balance that is worth withdrawing, then he should definitely withdraw it. A gambler cannot be sure of winning at the casino until he withdraws the balance from that particular platform. For those who are betting on a new platform, keeping that balance is definitely risky, but those who have been gambling at the casino for a long time and have a good idea about that casino can leave a small amount if they want, but in the real sense, for the sake of 100% security of their funds, the gambler should definitely withdraw the balance quickly. Those who neglect this will understand at some point.

[mak013]

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.

Money in a casino isn't yours. I'd rather pay a small commission and withdraw after every decent win. I only deposit enough for one or two bets - an amount I'm willing to lose. It doesn't matter whether the casino is new or well-known, how often I play, or when I'll play next. The only money that's truly yours is the money in your pocket.

[Perfectbaby]

To be frank I wouldn't even encourage you to leave your funds into casino account because anything is very possible, as a gambler it's always advisable to move your balance be it small or Big, it should be withdrawn to your external wallet or exchange account where you can easily convert it to other currency without passing through stress.
Nowadays, it's very hard for a gambler to leave their balance in a casino because anything is really possible and also likely to happen.

[Filicius]

If you had mentioned the specific amount, then maybe I could have answered you accordingly. Those of us who gamble regularly, I think we keep some money in our gambling account because we need this money for gambling. However, keeping some money does not mean that we only keep the money in the gambling account from the beginning to the end.

I don't think the OP's question should be answered with a black or white answer, and although many other members already said that casinos are not banks and I agree with that, it doesn't mean you can't hold small balance in your casino wallet. No one has talked about keeping your savings there.

So I agree with you that many regular gamblers keep some money in their accounts, and that mentioning a specific amount would've helped, although we could only have made the assessment with respect to that amount subjectively because everyone's situation is different and what is excessive for many is insignificant for others.

[Ojima-ojo]

Centralized casinos are not banks. The fact that a site is reputable today doesn’t mean they’ll be around forever. We’ve experienced more times where casinos that were actually reputable suddenly exit scam, got hacked or even suddenly froze customer’s accounts and restricted them from withdrawing. All these are most likely to happen to any casinos, which makes keeping money in your casino balance very dangerous, especially with the intentions of saving the money there till whenever you need. I used to do this before, but when I got to realize how dangerous it was, I immediately stopped.

For once I never fancy keeping my money on a casino Wallet before, I am not a heavy gambler and to make such hugh balance is totally out of my thinking.


But speaking based on security and control, is better to have your huge amount kept in a wallet that you can transfer the funds at anytime without any third party involvements, since centralized platforms most especially those that provides financial services like casino are the most targeted for hackers attack.

[Itz-prisigold]

Centralized casinos are not banks. The fact that a site is reputable today doesn’t mean they’ll be around forever. We’ve experienced more times where casinos that were actually reputable suddenly exit scam, got hacked or even suddenly froze customer’s accounts and restricted them from withdrawing. All these are most likely to happen to any casinos, which makes keeping money in your casino balance very dangerous, especially with the intentions of saving the money there till whenever you need. I used to do this before, but when I got to realize how dangerous it was, I immediately stopped.

I think this is where a lot of people make mistake, just because you have been using a casino for a long period of time without having any issues, you automatically become so relaxed with the casino.  Well as for me, I don’t care whether a casino has a good reputation or whether it has been around for years, that is not enough reason to keep my money in a casino after gambling. Whenever I win, I withdraw my funds. But sometimes, I may leave a little bit down to play again, but that's money that I'm willing to lose.

For instance, I might just withdraw 90% and then play the other 10%. And if I gamble with the remaining balance and end up I losing it, then it’s gone. But saying I should keep my funds in a casino because I might use it in the future is a capital NO. I don't do that!  I have never liked keeping my money on gambling sites.

[Moreno233]

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.

Be it small or big balance, there should not be any reason to leave move that is not meant for gambling in the casino. It is a centralized platform where users do not control the safe so the only money that can be kept there should be what the user intend to use for gambling. If there is good winning, it should be withdrawn and only the balance for gambling should be left. This is what I practice and what I also recommend for any serious player.

[gracreavix]

Centralized casinos are not banks. The fact that a site is reputable today doesn’t mean they’ll be around forever. We’ve experienced more times where casinos that were actually reputable suddenly exit scam, got hacked or even suddenly froze customer’s accounts and restricted them from withdrawing. All these are most likely to happen to any casinos, which makes keeping money in your casino balance very dangerous, especially with the intentions of saving the money there till whenever you need. I used to do this before, but when I got to realize how dangerous it was, I immediately stopped.

To add to this. Whether a casino is trustworthy or not, never store money in there. Like the OP mentioned that, what if it was small money. Fine and good. It's small, but with time it can grow into a large amount. The problem with this is that at first you thought it was just small money. That nonchalantness has build up in you. That's if there's a word like that.

Now with that attitude, when the money gets bigger you will still act the same way. Over time you have conditioned yourself that it's just small money. You might not even pay attention again to the amount when it is climbing.

No casino can store your money and completely ensure your safety. Even banks has a safety net if things goes south. What does casino have for it's users if things go south.

[Versatile_choice]

Centralized casinos are not banks. The fact that a site is reputable today doesn’t mean they’ll be around forever. We’ve experienced more times where casinos that were actually reputable suddenly exit scam, got hacked or even suddenly froze customer’s accounts and restricted them from withdrawing. All these are most likely to happen to any casinos, which makes keeping money in your casino balance very dangerous, especially with the intentions of saving the money there till whenever you need. I used to do this before, but when I got to realize how dangerous it was, I immediately stopped.

You're actually making sense  here, exactly what I used to tell my friends that for the fact that a casino has gained reputation doesn't mean they are 100% trusted. of course there are some casinos with good reputation but they still try to scam their users, So this made me not to trust a casino with my full chest irrespective of their reputation because could change at anytime. as for leaving my wining or my money in a casino site, i don't try that I hardly leave my money in a casino site for a day talk more of weeks or months. Whenever I had wining what I do is to withdraw the amount I would like to withdraw and then leave some Portion for going again.