5 btc max withdrawal at most casinos?

[rdbase]

So I don't want to mention the casino I've been playing at and give it any bad publicity........but I have a few questions about how bitcoin casinos work as far as withdrawing goes.  I've been playing at this casino for a little over a month consistently- every day. I love their software and I became a VIP betting pretty big (their maximum on most games). The manager there is very nice. So at first I lost almost 1 btc.........then I won 2.4 bitcoins and withdrew.  It took around 24 hours for a withdrawal which I thought was long but I love their software.  Then I lost a little over 5btc in a few weeks and stopped for a bit. Those were multiple deposits that totaled that.  Then on black Friday they offered me a match bonus up to 2btc since I'm VIP. Anyway, I put in 2btc and played the 20 times requirement to earn the bonus.  I ran it up to 8.7 bitc and attempted to take out 7.7 btc.  After waiting 30 hours without getting my money........I got an e-mail from the manager saying:

 "The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos? I bet sports big on Nitrogen and play big on Seals with Clubs. I don't have any problems withdrawing any amount and it's very fast. I honestly don't mind the 5 btc maximum if I can get my money in around 24 hours......then do another withdrawal of up to 5btc and get my money in another 24hours. That's fine with me. Any other installment plan or time schedule seems like bad business or they lack the funds. Am I being unreasonable? Maybe the casino stuff isn't for me........it's just for fun while I'm bored waiting for a poker game. 

To update- as I was writing this I got my 5btc after 31 hours.  Rather than taking out the other 2.7 and keeping 1 btc to play with.........I withdrew the entire 3.7 just now we'll see how long it takes. We never really worked out an installment plan so it might take awhile lol.  Any comments appreciated.

[james.lent]

I would think the reason they're doing that is because they're out of funds. Simple as that.

Played big on seals as well, never had any issues with withdrawal

[madhatter.]

I first heard that here. Most likely they are out of funds. Play only on big and established websites you will get your funds faster.

[cheekychap]

Some of the sites that I play on, do not allow instant withdrawl of more than 1 BTC.
For any amount greater than that, they usually process it manually.
This varies with differnt casinos.

[SW725]

I know a casino that offers 40 btc cashout limit.

[thompete]

There shouldn't be a limit to withdraw money from a casino.
The only limit they can have is how much to process instant withdrawls or maximum bets allowed.

[james.lent]

yes instant or manual aint the issue here, op is stating that the casino requested an installment plan.
i suggest op to reveal the site here, so more people wont keep depositing coins. from the looks of it they're rolling deposits to support cashouts without any backup funds

[SW725]

There shouldn't be a limit to withdraw money from a casino.
The only limit they can have is how much to process instant withdrawls or maximum bets allowed.

If they dont set a limit they might get bankrupt?

[DebitMe]

There should be no limit on the amount you can withdraw, and to be honest, 24 hours seems like a pretty large time frame for a cashout, but thats just me.

I would advise to stop playing at the casino, and post the casino's name so that others will know not to play there and can withdraw funds that they may have.  I agree that if it was within a 24 hour time window then a 5 btc limit may be more appropriate (for security reasons and what not), but it is also really fishy that you are unable to withdraw YOUR MONEY.

That is simply the advice of someone who has been taken for tens of thousands of dollars worth of bitcoin over the last 3+ years and knows the signs of a scam/dying website.

[asdlolciterquit]

There shouldn't be a limit to withdraw money from a casino.
The only limit they can have is how much to process instant withdrawls or maximum bets allowed.

If they dont set a limit they might get bankrupt?

why? they are not their money!

[rdbase]

Thanks for the replies everyone. I'll keep you updated if and when I get my other 3.7.........

[hopenotlate]

 "The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

just agree on together for an istant withdrawal of the remaining 3.7  

Joking of course: how can they state that bolded part?  
I mean: I asked for a bigger withdrawal than 5btc, so it is clear I want my btc istantly, but you denied it so  it is clear we disagree on that.

If I was you I wouldn't play for big amounts of btc there anymore: if you like their casino and they will honour your withdrawal request I would suggest to play there keeping you eventual winnings far lower than 5 btc and keep withdrawing (wishing you luck) more often for smaller amounts than your doing now.

If you like to play big just change casino

[calci]

 "The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

Woe, thats really not right. They should just send it to the address you request it at.

[Ron~Popeil]

Classic sign of a problem casino. They don't have the funds in reserve to cover losses and are counting on the house edge to keep them going. I would get what you can and move on. 

[Brewins]

It might be a protection against exploits like the malleability stuff, so a vulnerability with withdraws won't dry all their hot wallets.

But still it is concerning, because make all withdraws depending on manual confirmations and without limits  would be more effective.

[Miitch]

This is why Bitcoin Casino's should always show their cold storage wallet so you know they can cover your bets

[Snail2]

I can imagine three scenarios:

- This could be a security feature like the daily withdraw limit on cards,
- they are paying from the hot wallet (with most of the funds in the cold wallet) and that might been low on BTC in that time,
- they are really using some sort of "fractional reserve" scheme.

[rdbase]

Thanks for the replies everyone. Many of you are making good points. I haven't seen the other 3.7 and it's been 22 more hours. Not sure when that's coming. While I was losing during the month they said as a member of the VIP club they will give comp points that convert to cash paid out at the beginning of the month. They haven't paid that yet and I'm not expecting it..........as they probably get the feeling they lost a customer. At this point I just want my 3.7 and I'll just stick with Seals and Nitrogen.  

[kuusj98]

Only reason I can think of is that they want to eliminate cheating.
If someone finds an exploit he could keep withdrawing as much as he'd want.

[CrackedLogic]

It's usually because they are running low on funds.
But was this a recent added limitation?

[rdbase]

Like I said, I don't really mind the 5 btc maximum.......it's just the idea that we he wanted us to work on an installment plan or schedule for the rest for the rest.  If it was just 2 withdrawals 24 hours apart, I would have been fine with that. Just to update, I received an e-mail this morning from the manager saying I should receive the other 3.7 either today or tomorrow. If it's tomorrow then we are looking at 48-72 hours for rest. Supposedly in the future, he said I won't have to wait for big wins (I'm assuming they mean over 5 btc).........and they will let the financial department know about my exception (I'm the first player to get this exception they said).  Not sure what to believe as I confident the guy that is sending me the e-mail is the only guy that controls all of the withdrawal lol 

[BitCoinPokerBro]

So I don't want to mention the casino I've been playing at and give it any bad publicity........but I have a few questions about how bitcoin casinos work as far as withdrawing goes.  I've been playing at this casino for a little over a month consistently- every day. I love their software and I became a VIP betting pretty big (their maximum on most games). The manager there is very nice. So at first I lost almost 1 btc.........then I won 2.4 bitcoins and withdrew.  It took around 24 hours for a withdrawal which I thought was long but I love their software.  Then I lost a little over 5btc in a few weeks and stopped for a bit. Those were multiple deposits that totaled that.  Then on black Friday they offered me a match bonus up to 2btc since I'm VIP. Anyway, I put in 2btc and played the 20 times requirement to earn the bonus.  I ran it up to 8.7 bitc and attempted to take out 7.7 btc.  After waiting 30 hours without getting my money........I got an e-mail from the manager saying:

 "The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos? I bet sports big on Nitrogen and play big on Seals with Clubs. I don't have any problems withdrawing any amount and it's very fast. I honestly don't mind the 5 btc maximum if I can get my money in around 24 hours......then do another withdrawal of up to 5btc and get my money in another 24hours. That's fine with me. Any other installment plan or time schedule seems like bad business or they lack the funds. Am I being unreasonable? Maybe the casino stuff isn't for me........it's just for fun while I'm bored waiting for a poker game. 

To update- as I was writing this I got my 5btc after 31 hours.  Rather than taking out the other 2.7 and keeping 1 btc to play with.........I withdrew the entire 3.7 just now we'll see how long it takes. We never really worked out an installment plan so it might take awhile lol.  Any comments appreciated.

sounds pretty sketchy to me.

[rdbase]

Well I got the remaining 3.7........and it took around 56 hours to get it.  Not as bad as I thought when he originally talked about installments and a schedule..........but I think I might stay away for a while. I might look into another casino that has fast payouts and a bigger maximum withdraw.

[MoneyShot2]

"The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos?

This IS crazy. Trusted sites just have a limit from having some of the funds in a cold wallet and at worst, they will verify that your win was proper and then make funds available for the withdrawal.

[Ron~Popeil]

"The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos?

This IS crazy. Trusted sites just have a limit from having some of the funds in a cold wallet and at worst, they will verify that your win was proper and then make funds available for the withdrawal.

Absolutely. I can see limits for security reasons but an  "agreed upon schedule" is a big red flag. Casinos don't make payment arrangements with winners.

[jarrick]

"The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos?

This IS crazy. Trusted sites just have a limit from having some of the funds in a cold wallet and at worst, they will verify that your win was proper and then make funds available for the withdrawal.

Absolutely. I can see limits for security reasons but an  "agreed upon schedule" is a big red flag. Casinos don't make payment arrangements with winners.

Agree with you.   

[Stunna]

That's a pretty unprofessional rule, it sounds like they just made it up because they didn't have the funds on hand. There's no max cashout on primedice or any other dice sites that I know of, after we cashed out hufflepuff over 2000 coins of profit we adjusted the max bet.

[Tabatadze]

maybe they are just afraid that a hacker would be able to withdraw to quickly, or they are hoping you will lay with the funds they are '2waiting2 for,

[sandy47bt]

There are few logical reason :
1. They low of money
2. IF they limit max withdrawal, they think the players will continue playing at their site (and they will lose their bitcoin)
3. They most likely scam ?

[Chemistry1988]

The rule is completely unacceptable.
I could understand if the site delays a big withdrawal for a while to to check the validity of your bets first, but there is no point to set a max withdrawal.

While you are able to your 5 btc and 3.7 btc withdrawal in the end, I would suggest you to use more trusted sites.

[rdbase]

I really appreciate everyone's replies. I will probably look for a different site for when I'm bored and nobody is playing me in poker. I really like realistic software and fast withdrawals of course.  If anyone has any suggestions where I can get both, let me know. 

Here is what my VIP host wrote to me tonight:

Hi, I see that you were able to withdraw all of your winnings quicker than was expected, I’m really happy that it worked out so well for you.
Really hope this won’t be the last we see of you in the casino!


I wrote back this:  Well, it might have been quicker than you expected lol.  I live in Las Vegas.......so if there is a long line at the cashier at the casino, I'm not getting my winnings fast enough    Thanks for any help you might have been in that matter though.

[xetsr]

Only reason I can think of is that they want to eliminate cheating.
If someone finds an exploit he could keep withdrawing as much as he'd want.

"The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

Why pay in installments then? Sounds like they need others to lose BTC to payout... and if this is the case, do NOT play here. 5 BTC is not alot for a casino... couple dice sites and other casinos here handle that amount easily.

[Watoshi-Dimobuto]

I really appreciate everyone's replies. I will probably look for a different site for when I'm bored and nobody is playing me in poker. I really like realistic software and fast withdrawals of course.  If anyone has any suggestions where I can get both, let me know. 

Here is what my VIP host wrote to me tonight:

Hi, I see that you were able to withdraw all of your winnings quicker than was expected, I’m really happy that it worked out so well for you.
Really hope this won’t be the last we see of you in the casino!


I wrote back this:  Well, it might have been quicker than you expected lol.  I live in Las Vegas.......so if there is a long line at the cashier at the casino, I'm not getting my winnings fast enough    Thanks for any help you might have been in that matter though.

lol. okay.

The 5BTC maximum limit. I don't see that in most of the casinos I know of. I don't think the maximum limit can be a trust issue. Since it is possible to withdraw multiple times.
I think it might be impemented to prevent cheating etc. by players.

[bobley]

Only reason I can think of is that they want to eliminate cheating.
If someone finds an exploit he could keep withdrawing as much as he'd want.

When you own and manage a Casino you must take the risk for the security of the casino and games... not the players.
If you dont have 50 BTC to pay all winners in less than 2 hours, you should even be in the business lol
I only play in casino who got fund to pay .. that the goal of gambling ... winning isn't ?
I advise you to check the terms of the casinos before playing anywhere
I agree that it can take few hours to move funds from cold to hot wallet but I can't understand casinos paying less than $2000 a day

[KingZee]

Why is it that frustrating that you can't withdraw more than 5BTC at a time?

If you are already okay with all their withdrawals taking up to 24h, you should be thankful as long as they do actually pay out.

[Buziss]

Why is it that frustrating that you can't withdraw more than 5BTC at a time?

If you are already okay with all their withdrawals taking up to 24h, you should be thankful as long as they do actually pay out.

According to OP's posts, he received 5 btc after 31 hours, and the remaining 3.7 btc after another 56 hours. I guess it is normal for one to get frustrated and worried when he need to wait for more than 3 days for the money he earned rightfully.

Plus, there are better sites out there. Why should he stick to that site?

[LitecoinBoss]

Why is it that frustrating that you can't withdraw more than 5BTC at a time?

If you are already okay with all their withdrawals taking up to 24h, you should be thankful as long as they do actually pay out.

There should be no limit on the cashout.

[bobley]

Why is it that frustrating that you can't withdraw more than 5BTC at a time?

If you are already okay with all their withdrawals taking up to 24h, you should be thankful as long as they do actually pay out.

There should be no limit on the cashout.

lol Why is it that frustrating that you can't withdraw more than 5BTC at a time?

Because I deposit 1 to 3 BTC a day in average. So winning 10+ BTC at once it is pretty normal.
If you cant pay more than 5BTC , dont accept deposit higher than 0.1 BTC so

[rdbase]

Also remember it was frustrating because they made an exception for me and they implied they wanted to do a schedule/ installments. If I just went along with their plans, I'm confident I wouldn't have had the other 3.7 yet. I was only actually taking out 7.7 and leaving 1btc to play with.........but their hesitance to pay made me takeout the entire bankroll. Also, there was a week in the middle of November that I lost 5btc.......so In the end I wasn't even up much on at that casino.

[Amun]

So I don't want to mention the casino I've been playing at and give it any bad publicity........but I have a few questions about how bitcoin casinos work as far as withdrawing goes.  I've been playing at this casino for a little over a month consistently- every day. I love their software and I became a VIP betting pretty big (their maximum on most games). The manager there is very nice. So at first I lost almost 1 btc.........then I won 2.4 bitcoins and withdrew.  It took around 24 hours for a withdrawal which I thought was long but I love their software.  Then I lost a little over 5btc in a few weeks and stopped for a bit. Those were multiple deposits that totaled that.  Then on black Friday they offered me a match bonus up to 2btc since I'm VIP. Anyway, I put in 2btc and played the 20 times requirement to earn the bonus.  I ran it up to 8.7 bitc and attempted to take out 7.7 btc.  After waiting 30 hours without getting my money........I got an e-mail from the manager saying:

 "The maximum withdrawal you can do at one time is 5BTC.
For wins larger than this we pay out the winnings in installments according to a schedule which we agree on together."

To me, that seemed crazy. It's one thing to have a maximum of 5 btc at one time (which I couldn't find a word of that policy on their site including FAQ's).  The problem is that I'm supposed to wait on a installment plan or schedule for the other 2.7?  That blew my mind. Is that the policy of most btc casinos? I bet sports big on Nitrogen and play big on Seals with Clubs. I don't have any problems withdrawing any amount and it's very fast. I honestly don't mind the 5 btc maximum if I can get my money in around 24 hours......then do another withdrawal of up to 5btc and get my money in another 24hours. That's fine with me. Any other installment plan or time schedule seems like bad business or they lack the funds. Am I being unreasonable? Maybe the casino stuff isn't for me........it's just for fun while I'm bored waiting for a poker game. 

To update- as I was writing this I got my 5btc after 31 hours.  Rather than taking out the other 2.7 and keeping 1 btc to play with.........I withdrew the entire 3.7 just now we'll see how long it takes. We never really worked out an installment plan so it might take awhile lol.  Any comments appreciated.

All the dicing Sites I know dont have a max withdrawal but need to send from their cold storage, I dont see the reason why they would have a max, unless they try to scam you.

[paradoxal420]

Also remember it was frustrating because they made an exception for me and they implied they wanted to do a schedule/ installments. If I just went along with their plans, I'm confident I wouldn't have had the other 3.7 yet. I was only actually taking out 7.7 and leaving 1btc to play with.........but their hesitance to pay made me takeout the entire bankroll. Also, there was a week in the middle of November that I lost 5btc.......so In the end I wasn't even up much on at that casino.

Is it btc-casino.io? The first time I played there, max withdrawal was only 0.05. So if it's that site -- 5btc is most likely their whole entire bankroll lol.

They are completely full of shit about the whole "financial department" thing. They did the same exact thing to me. But over 0.05. Which is a fucking joke. If you have a financial department, you can most likely afford to pay out a 7 btc payment at one time.

 I think they are trying to sound more professional or something lol.

And if this is a completely different casino, it's definitely run by the same people. Maybe this is CoinBet.cc part 2..?

[bitbaby]

This was indeed very UN-professional on their part and very professional on your part for not making their name public. Casinos should add this in their FAQ as to how much time is needed for their withdrawals, it should be instant for smaller withdrawals and 1-2 hrs for bigger ones imo. When they're dealing with BTC, even 24 hours is a long time.

[superSTAR777]

usually all sites have a max win of 5btc and man 5btc is a lot at one time win

[sandykho47]

I bet they just don't want you withdraw all your BTC
And they want you to play more at their casinoo, so you will lose the games and your bitcoin

Even some dice games (999dice.com) have problem if you withdraw too big
Most likely, they are scamming you & other player

[sherbyspark]

I bet they just don't want you withdraw all your BTC
And they want you to play more at their casinoo, so you will lose the games and your bitcoin

Even some dice games (999dice.com) have problem if you withdraw too big
Most likely, they are scamming you & other player

Some sites I know of, used to put withdrawls on pending, but would process it manually, and till it wasn't, they would leave it in your account till then
and a lot of people would just gamble is again and lose it.

[canary]

usually all sites have a max win of 5btc and man 5btc is a lot at one time win

If you deposit more than 10 BTC and you play big and win big, 5 BTC withdrawal is really low. I think it's because of security issues and fund issues nothing more...

[rdbase]

This was indeed very UN-professional on their part and very professional on your part for not making their name public. Casinos should add this in their FAQ as to how much time is needed for their withdrawals, it should be instant for smaller withdrawals and 1-2 hrs for bigger ones imo. When they're dealing with BTC, even 24 hours is a long time.

Well, trust me if they didn't pay me, I would of course made their name public. They have a good reputation on this forum and after thorough research.........I'm confident they never actually scammed anyone. I do agree that they it was too long though and I stopped playing there because of it.  If anyone wants to know the name of the casino........send me a pm and I'll reply back with their name. 

[bitbaby]

This was indeed very UN-professional on their part and very professional on your part for not making their name public. Casinos should add this in their FAQ as to how much time is needed for their withdrawals, it should be instant for smaller withdrawals and 1-2 hrs for bigger ones imo. When they're dealing with BTC, even 24 hours is a long time.

Well, trust me if they didn't pay me, I would of course made their name public. They have a good reputation on this forum and after thorough research.........I'm confident they never actually scammed anyone. I do agree that they it was too long though and I stopped playing there because of it.  If anyone wants to know the name of the casino........send me a pm and I'll reply back with their name. 

They paid late but they did pay you and that's the good part about this and if they have included their withdrawal procedure in their terms after this incident, I say you let bygones be bygones and don't make their name public even through PM, since you have already decided to not play there anymore. But thats just my personal opinion.