Are all crypto gambling charges expensive when it comes to USDT? - page 3.

johhnyUA

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?

I think this is because they 're using ERC-20 USDT standard. So they need to pay fees in ETH ecosystem, which is predictable high. if they would use TRC-20, there would not be such problem.

Quote from: danherbias07 on September 09, 2022, 10:50:27 AM

I have seen bad when doing transactions with ERC-20 at $5 but that is just the worst.
$19 is too much while the base is $1.78 at high priority 20 gwei per transaction in USDT transfer. Perhaps you could contact their support and see to it if they are making a mistake about that. Maybe they are and there could be ways to fix this mistake.

1.78 is practically 10 % of 19 $. So yeah, this is logical why they don't allowed everything less this amount. I would even tell that it would be more right to increase minimum amount in this case, up to 30-35 $

danherbias07

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Here is the withdrawal fee for Stake.com.

7k sats when it's in Bitcoin.

I have seen bad when doing transactions with ERC-20 at $5 but that is just the worst.
$19 is too much while the base is $1.78 at high priority 20 gwei per transaction in USDT transfer. Perhaps you could contact their support and see to it if they are making a mistake about that. Maybe they are and there could be ways to fix this mistake.

crwth

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Do you know how much expensive the ERC-20 gas fees are, correct? Having that amount for their withdrawal is not surprising, but it's funny because it has exceeded the minimum withdrawal amount. It is wrong to withdraw in that situation unless you have a high amount prepared to be withdrawn.

It just goes to show how important the merge that there is because it's going to be solving the problems that users and developers are facing; the fees are not fit for what ETH can be, and hopefully, that upgrade would solve it and make it even more usable for everyone and is intended for its purpose.

goinmerry

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USDT withdrawals should always be cheap, of course, if the network used is TRC20. That's the most common network used in USDT withdrawals.

Besides, Wintomato should do something about the fees. There are gambling sites that have ERC20 withdrawals but never heard they are charging high fees even though there's no doubt, that the ERC20 network is experiencing high transaction fees right now.

Not saying you should not use the site but better to switch from other gambling sites.

Jemzx00

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Quote from: Jawhead999 on September 09, 2022, 08:14:59 AM

Quote from: Yogee on September 08, 2022, 10:46:00 PM

That means the platform currently charging you $15 more. Gas price on Ethereum fluctuates like crazy so the casino's wallet provider must have overestimated it for good measure. I guess it's what you get for using centralized platforms.

I don't think it's because bad measurement, but I'd say the platform e.g. Wintomato is charge higher fees to get more money. The gap is really far for 15x times higher, other centralized exchange and casino didn't even charge such value right now.

It's not about USDT or ERC20 chain that make the fees is really high, but the casino is. I think it's shady for such act and I would never gamble on that casino.

I guess there seems to be an error when it comes to calibration for the withdrawal fees for ERC20 on their platform as other mode of withdrawal doesn't seem to be as high as USDT withdrawal. I'd suggest to raise the issue with their support however upon reading the scam accusation linked by Maus0728, I think they won't be able to fix it anytime soon especially that they're gaining from it.

As for OP, I suggest to either change your withdrawal method on the platform or even avoid the platform at all as it seems that withdrawal fees are not the only issue they have.

ralle14

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?

Nope, there are other gambling sites that charge less while picking the same network and even if there's an increase in network fees it shouldn't be that high but unfortunately not all gambling sites are willing to put in the effort to reduce it to a reasonable amount. The same thing happens with other cryptocurrencies even if the current fees aren't high there are some casinos that don't bother adjusting the fees.

pawanjain

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$19 transaction fees for USDT is definitely huge. I generally play on BC.GAME and currently its charging $4.5 transaction fees which is still way less than $19.
As others have mentioned you can opt for TRC20 chain and get a much cheaper transaction fees.
I guess they have increased the transaction fees because many people decide to play with USDT and so it would benefit them on increasing the fees.
This basically shows that this site is definitely not user friendly.

YOSHIE

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?

LTC, ETH and BTC withdrawal & deposit methods that I have used on gambling sites, I have never used the ERC20/TRC-USDT network, although many gambling sites use withdrawals & deposits via usdt such as: Sportsbet.io, Livecasino.io, Duelbits, BlackJack.Fun, I think TRC-20 network is currently the cheapest in usdt withdrawal method, my thinking is TRC network, average cost is about the same across all sites/cheap, slightly different, maybe.

Maybe, we will wait for members here who have used the usdt withdrawal method on certain gambling sites, that's where we can compare which ones are cheap and which are expensive, be it the ERC20/TRC network in usdt.

Maus0728

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Quote from: Jawhead999 on September 09, 2022, 08:14:59 AM

It's not about USDT or ERC20 chain that make the fees is really high, but the casino is. I think it's shady for such act and I would never gamble on that casino.

A shameless plug for how you argue with the casino's bitcointalk representative in terms of withdrawal issues and slow support response^[1]. For OP, i'd consider this scam accusation as a warning especially with how high the withdrawal fees is being charged from their players.

[1] https://bitcointalksearch.org/topic/wintomatocom-scam-confiscated-withdrawal-awful-support-5384260

Jawhead999

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Quote from: Yogee on September 08, 2022, 10:46:00 PM

That means the platform currently charging you $15 more. Gas price on Ethereum fluctuates like crazy so the casino's wallet provider must have overestimated it for good measure. I guess it's what you get for using centralized platforms.

I don't think it's because bad measurement, but I'd say the platform e.g. Wintomato is charge higher fees to get more money. The gap is really far for 15x times higher, other centralized exchange and casino didn't even charge such value right now.

It's not about USDT or ERC20 chain that make the fees is really high, but the casino is. I think it's shady for such act and I would never gamble on that casino.

Wexnident

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?

It's the network that's the problem. I think most (if not all) casinos offer the same network withdrawals, it's just up to us on what we want to actually use so ofc most gamblers would choose the cheaper option, in this case TRC 20. I used to have the same problem back then, mostly because I didn't know jack about networks and stuff so I momentarily stopped doing anything about gambling. I then found out more about transfers and stuff which made it much cheaper for me to use.

rhomelmabini

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Quote from: Baofeng on September 09, 2022, 04:44:29 AM

Good that you have ask the community about it, because if you continue to used ERC-20, then all your winnings wil be just for the transaction fee.

So as others suggest TRC or Tron based will be the optimum to used because they are very cheap and very quick. And for others who are still using ERC-20, used TRC instead. Or used casinos that don't charge withdrawals.

Yeah, it's always a must to check things and to asked things but for Ethereum transactions I think it will be just for the last time considering they are transitioning to PoS. To be honest, there are plenty of L1 out there that cost cheap to process things, it just really takes time for Ethereum to be that one.

As far as I know most casinos nowadays integrate more L1s on their platform considering that it attracts user too to check or play on their site and I'm one of that folks to love it such feature for a casino.

romero121

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Quote from: Baofeng on September 09, 2022, 04:44:29 AM

Good that you have ask the community about it, because if you continue to used ERC-20, then all your winnings wil be just for the transaction fee.

So as others suggest TRC or Tron based will be the optimum to used because they are very cheap and very quick. And for others who are still using ERC-20, used TRC instead. Or used casinos that don't charge withdrawals.

As stated it is always good to use Tron, which gives the fastest transaction as well as with the lowest transaction cost. As suggested there were casinos that doesn't charge withdrawal, and I'm not sure how effective is this happening around. Based on the information from our forum I came across this thread which might be useful to find the right casino.
Casinos with free withdrawal fees

bisdak40

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Quote from: Baofeng on September 09, 2022, 04:44:29 AM

Good that you have ask the community about it, because if you continue to used ERC-20, then all your winnings wil be just for the transaction fee.

So as others suggest TRC or Tron based will be the optimum to used because they are very cheap and very quick. And for others who are still using ERC-20, used TRC instead. Or used casinos that don't charge withdrawals.

This used to be my problem before, transferring/depositing cryptos to online bookies frequently with a high fee that is why I'm forced to use XRP which leads me to another problem, its volatility, the value you deposited might be lesser than expected when withdrawn because XRP is too volatile though the transfer is almost instant.

This usdt-trc20 is really good for us crypto gamblers and I'm glad that my favorite bookies offered this just recently.

Baofeng

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Good that you have ask the community about it, because if you continue to used ERC-20, then all your winnings wil be just for the transaction fee.

So as others suggest TRC or Tron based will be the optimum to used because they are very cheap and very quick. And for others who are still using ERC-20, used TRC instead. Or used casinos that don't charge withdrawals.

makishart

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It seems like that problem is if that was still using ethereum blockchain instead of tron. If you are picking tron blockchain and it must not be so expensive like that. It must be refer to this https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7

Average fees for now was around $1 - $2 which is non sense thing if gambling site to chart just like what you have mentioned in the picture. Im sure that the owner of site are still using old calculation.

Even bitcoin tx in stake was consuming a very very small fees for transactions. That site was still applying non sense transaction fees for its users.

Adbitco

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It all depends on gambling site your making withdrawal for me I mostly like withdrawing with LTC as is a bit cheaper and faster to deliver. If that platform support Tron (TRC20) then I would advised to make withdrawal with it as most convenient way to used.
Before making deposit in any casino or gambling site try as much as possible to read their T&C's to enable be at safer side while dealing with them, also make sure to check KYC conditions.

buwaytress

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Tell support it's too expensive (flat rates work well for you in network congestion usually, and conversely, you overpay in good times).

Not all sportsbooks/casinos charge you though. Withdrawals are free on Sportsbet and on Fortunejack (only that they do have minimum amounts, and the latter is pretty high, $150) and they do seem in my experience to use appropriate gas payments. I think that's fair though. Keep withdrawals frequency lean and no need to pay for tx fees.

dothebeats

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This is why you should not choose an ERC-20 token when doing transactions. You need to convert it to another crypto then proceed to withdrawal. It's faster and cheaper this way, and you can just convert it on an exchange afterwards if you really need USDT or an ERC-20 token for whatever purpose it might serve. Personally, I'd go XRP or Doge to withdraw as these two usually have less transaction fees and faster confirm times. Never use ERC-20 tokens for withdrawals no matter the service/platform.

ethereumhunter

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The fees will seem expensive if you want to withdraw your money in usdt based on erc20. But there is a trx based usdt option so it will reduce transaction costs. You don't need to choose erc20 to withdraw the money and look for other coin options such as doge, trx, xrp or even trx based usdt. And if the casino has bep20 based usdt coins, the transaction fees will be cheaper than others. But not all casinos have it and we can customize it with coins that have low transaction fees.

Topic: Are all crypto gambling charges expensive when it comes to USDT? - page 3. (Read 614 times)