Are all crypto gambling charges expensive when it comes to USDT?

LUCKMCFLY

legendary

Activity: 2632

Merit: 1883

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Quote from: Oneandpure on September 11, 2022, 12:11:21 PM

Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

Yes me too, I only use TRX or tron in withdrawing my funds, it is quite better than usdt. Every singe cents I am winning in gambling is very much important to me, I already tried to withdraw using usdt but the fee is expensive, that's why either TRX or XRP is what I am using to exchange it in cex. I think I also try ada once I forgot the other coin I am using and then I am sending it to binance.

Well it's all about looking for the best economy, whenever we play in a casino we look for ways to lower withdrawal costs, and it's not only something that one looks for, most people look for this without hesitation, of course now almost no There is a lot of talk because everyone is pending KYC, and the fees do not matter much, when it is USDT they are not that expensive, at least in Binance they only cost 1 usdt per transaction, but when it comes to casinos it depends, some casinos like bitcasino.io withdrawals are assumed by the same platform, when we go to withdraw at stake.com it is very little around 7 thousand sats.

entebah

full member

Activity: 1489

Merit: 150

i think only Stake.com that have a very low withdrawal fee for USDT because they charge only 1 USDT/withdraw on ETH/BSC/Matic Network
while other casino have higher than that

gunhell16

hero member

Activity: 1904

Merit: 541

Quote from: livingfree on September 10, 2022, 05:35:51 PM

@OP

I guess you have already that much suggestion from everyone and there has been solution has been said on how you'll save fees from withdrawing your funds there.

And the purpose of the thread prolly has served it. As you have noticed that trc20 is way cheaper than erc20 and that could be already enough to start locking the thread.

You are right there Sir, so I am happy and grateful to those who gave suggestions about the topic I made here, and in my opinion, it helped not only me but also other forum members here who do not yet know if they are more can save when it comes to the deposit or withdrawal transaction they want to do if they are also a gambler who wants to play crypto gambling.

This is also additional knowledge for me and an idea for others who want to further expand their idea about crypto gambling that will save the charge when entering funds into the gambling platform.

abel1337

legendary

Activity: 2492

Merit: 1145

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Oneandpure on September 11, 2022, 12:11:21 PM

Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

If you are a gambler like OP that is withdrawing his funds on the minimum withdrawal, Surely the fees he will be having is high if we consider the minimum withdrawal of the casino. Even if the withdrawal fee of ERC-20 tokens is pretty low nowadays, Still I think it's a small portion from the the total withdrawal. I also use low fee coins like TRX and DOGE on small time gambling sessions like when I am testing a new casino, We want to avoid or lessen the fees we are paying because the amount of value we are withdrawing is somewhat pretty low.

Oneandpure

sr. member

Activity: 2114

Merit: 309

Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

passwordnow

hero member

Activity: 3136

Merit: 591

Leading Crypto Sports Betting & Casino Platform

Quote from: goaldigger on September 10, 2022, 04:45:58 PM

Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

In USDT, there's the choice to make it cheaper in fees through trc20. Only if that casino where you're playing has that protocol and choice but if not, then just stick to LTC as it's underrated to have that cheap fee and speed.
And if you're on those casinos that don't support either, then you just have to stick with the reality and just withdraw looking at the fee accepting that you have no choice.

Saisher

full member

Activity: 2324

Merit: 175

Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Quote from: Coin_trader on September 08, 2022, 10:52:41 PM

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yes, I didn't notice that right away Sir, I should choose the TRC20 network because its transaction fee is only 11 TRX, it's only around 0.6$-0.7$.

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Anyway, thank you sir for saying that, I was just thinking about a lot of problems so maybe I didn't notice it right away. God bless you and have a nice day. Cheesy

It's an honest mistake not really a mistake but confusion sometimes I also get confused using a stablecoin when you are used to using an ERC 20 chain on stablecoin you'll think that USDT is only on ERC20, but the scenario is different if they only have ERC20 you have no chance but to withdraw with a very high transaction fee, that is why you should not only aware of the rules of the casinos but also on what coins, tokens and available chains that they re offering for withdrawals.

TopT3ns

hero member

Activity: 2548

Merit: 572

#SWGT CERTIK Audited

Quote from: ?? on ??

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

-snip

Transactions that is performed in the ethereum network or erc-20 always charge atleast 5$ fee or even more depending on the traffic at that time. Based on the image, the USDT on that platforms also support tron network which uses low fee. There are other alternatives too that runs on a network that have lesser fees like DOGE, MATIC ,and SOL so those are good option too if a gambling platform allows that cryptocurrency.

If you don't want to use high transfer fees, you have to use altcoins, one of which is TRX, EOS and XLM, but it all depends on the gambling place you use, because not all gambling places have the option of making transactions using altcoins, but currently the gas fee for ethereum is very low so the transaction fee using erc-20 should be less than $5.

livingfree

hero member

Activity: 2996

Merit: 580

Hire Bitcointalk Camp. Manager @ r7promotions.com

@OP

I guess you have already that much suggestion from everyone and there has been solution has been said on how you'll save fees from withdrawing your funds there.

And the purpose of the thread prolly has served it. As you have noticed that trc20 is way cheaper than erc20 and that could be already enough to start locking the thread.

serjent05

legendary

Activity: 3052

Merit: 1281

Get $2100 deposit bonuses & 60 FS

Quote from: goaldigger on September 10, 2022, 04:45:58 PM

Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

Yeah, it's been ages since I start avoiding transactions in ETH. I other cryptocurrency as long as it is not an ERC20. Actually, I have lots of ERC20 tokens that is unmoved because of high gas fee. So I still wonder why ETH is still in demand when there are lots of alternative cryptocurrencies out there that can offer cheaper transaction fees with more advanced technology. The heck, even Bitcoin transaction fees is way cheaper than ETH.

XRP, Matic also offers cheap gas/transaction fee and have fast confirmation, BNB too, and any other token that uses TRC20, and BSC20 chains offer a very cheap gas fee.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

I avoid usdt because I don't trust it and when it comes to gambling sites I use onl those that charge me normal fees based on sites like bitcoinfees.earn.com. When I see the site tries to cheat by putting additional fees on top of network fees I don't use them. It's really simple the same way you don;'t go to expensive stores when you can buy the same things online.

Some site will try to cheat you, it's to be expected.

PX-Z

hero member

Activity: 1554

Merit: 880

Notify wallet transaction @txnNotifierBot

This is about the required network fees not the platform but they can just always add some ^{(if fees are fixed in usd rate)}.
Also, in any platform that requires to send erc20 tokens fees are really high, it's considered as a feature not a problem anymore for erc20 tokens /s.

By the look of it, you can change to trc20 token to save fees, or other alternatives should be checked before proceeding.
Though you are in a gambling platform but why you need to withdraw the minimum? Bet it til you win big enough to not worry about the withdrawal fees

robelneo

legendary

Activity: 3416

Merit: 1225

Enjoy 500% bonus + 70 FS

Quote from: goaldigger on September 10, 2022, 04:45:58 PM

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

Alternatives are very important you would not want to withdraw where the only option is an ERC20 coin, you'll basically give miners a huge part of your earnings, if its only small earnings like what OP mentioned, so far all the casinos I'm playing deposits and withdrawals are all on Binance, TRC and sometimes Doge, if you're a whale then you don't mind withdrawing with ERC20 with very high fees, but we are only small players so options and alternatives are important.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

serjent05

legendary

Activity: 3052

Merit: 1281

Get $2100 deposit bonuses & 60 FS

Quote from: gunhell16 on September 10, 2022, 12:37:50 AM

Quote from: serjent05 on September 09, 2022, 04:16:18 PM

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

..snipped

Lol, you always have another chain as an alternative. Everyone here knows that the price of ETH gas fee is very expensive, so if you happen to click the TRC 20 tab, you will see the difference in withdrawal fee charges. Actually, you are a click away from discovering that a different network has a different fee. Seriously, you should have known this fact since you have been in the industry for years now.

I just didn't notice right away why the transaction fee is 19$, that's why when @coin-trader said that I must set it in TRC20, I just realized that it was set in ERC20, so its expensive because I'm thinking about hours I always only see the 19$ but I didn't immediately notice that the network is ERC20.

I admit my mistake, sir, maybe because I was thinking so much, I didn't really notice that I should have set it to TRC20 first so that the charge is cheap.

There may be advice of "think before you click," but there are some instances that you need to click before you think Grin

. Just like in your case. If you happen to click the TRC20 tab, then you could have saved yourself from thinking too much about how high the fee is on that casino. In fairness with the casino, they have several options to withdraw your fund, even they have an internal exchange where you can exchange your cryptocurrency to another kind of cryptocurrency with a commission rate of 4.9% a 0.1% lower than some of the Casino that offers internal exchanges.

passwordnow

hero member

Activity: 3136

Merit: 591

Leading Crypto Sports Betting & Casino Platform

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

coin-investor

hero member

Activity: 3024

Merit: 614

Leading Crypto Sports Betting & Casino Platform

Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Until they resolve the very high transaction fee I shifted to TRC20 and Binance chain and I never play on casinos that only have the ERC20 chain, never imagine that time will come when ERC20 will incur very high fees to all of its users only whale will use that option when I first play on casinos USDT fees only incur a few cents in ERC20, but I'm hoping that in the future the fees will go back to when it was before, so we'll have the option to withdraw ERC20 based token

lalabotax

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

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

-snip- I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me.

Just change the network to TRC-20, the transfer fee should be $1. If you withdraw 15$, you can get 14$ to the destination wallet.
Is it your first time withdrawing USDT from a gambling site? If you are already quite familiar with withdrawal on gambling sites, you should understand that there is a way to change the transfer fees. And the cheapest network to transfer USDT is TRC-20. Every gambler must know it.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: Doell on September 10, 2022, 03:18:25 PM

On the first page OP case was resolved very quickly, this community is a great. I personally don't use usdt to gambling, besides the high of fees on the erc20 network, aslo usdt is not profitable for me to keep in my wallet for a long time. I am also as surprised as you, last year when I use ethereum to gambling because it is on the same ship erc20, of course usdt is also same expensive about withdraw fees. It's better for me to use ltc or dash, rather than usdt token.

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: maydna on September 10, 2022, 06:15:38 AM

Litecoin has been my alternative for a long time besides dogecoin for depositing and withdrawing my money. With lower transaction fees than other coins like ethereum or even bitcoin, it can make Litecoin one of the favorite coins of many gamblers.

There may be an opportunity for ETC to be used as one of the coins to gamble on, and if this is implemented, it may be one of the triggers for the coin ETC to increase. We gamblers look for the coins we want and often differ from what others use.

Litecoin is like the silver version of bitcoin, no wonder why it's the popular choice next to bitcoin. Don't forget guys that aside from the cheap fees, litecoin is also a fast moving coin. No more boring times waiting for deposits to arrive before you play in a casino. I don't know what is that etc you guys are talking about but let me take a guess, was it ethereum classic?

Judging by its name, this coin might be a fork of the original ethereum just like bch which also a fork of bitcoin though I rarely saw this coin on most gambling sites but I think b.c game have this since b.c game do also list weird coins which are not really that popular.

Doell

hero member

Activity: 2156

Merit: 531

On the first page OP case was resolved very quickly, this community is a great. I personally don't use usdt to gambling, besides the high of fees on the erc20 network, aslo usdt is not profitable for me to keep in my wallet for a long time. I am also as surprised as you, last year when I use ethereum to gambling because it is on the same ship erc20, of course usdt is also same expensive about withdraw fees. It's better for me to use ltc or dash, rather than usdt token.

dothebeats

legendary

Activity: 3542

Merit: 1352

Quote from: Saint-loup on September 10, 2022, 02:02:24 PM

Quote from: ?? on ??

Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO

Yes I agree with you but I don't think they've lowered the fees by themselves. Because after adding the alternative networks, fees for withdrawing USDT were still at 5$ for any network. It's only after few people and me have talked about these shocking fees on their thread, they've lowered them to 1$. Many casinos don't take any fees for withdrawals, I think it should be a standard in the industry.

Casinos usually just use the amount recommended by some block explorers that will almost always confirm the transaction in the next block, hence why a lot of them are asking for those insane amount of fees. I'd go even farther and say that once they have coded that fee amount on their withdrawal page, they'd certainly never change it, unless the fee becomes too low for transactions to confirm immediately. It would be best if withdrawal fees on casinos are not fixed amounts but rather dynamic too and is done through APIs or whatever tech they can use, but I guess it's too much work and maintenance for them.

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: ?? on ??

Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO

Yes I agree with you but I don't think they've lowered the fees by themselves. Because after adding the alternative networks, fees for withdrawing USDT were still at 5$ for any network. It's only after few people and me have talked about these shocking fees on their thread, they've lowered them to 1$. Many casinos don't take any fees for withdrawals, I think it should be a standard in the industry.

Sanitough

hero member

Activity: 2940

Merit: 715

If that's TRC20 USDT, you don't have to pay a high fee. I'm more comfortable on using xrp as the transaction fee is cheap and based on my experience it's the fastest. Crypto gambling si really expensive if you keep withdrawing and your gambling with a small amount of money only, it gives comfort to those who gamble a decent amount as transaction fees are just nothing for them.

madnessteat

legendary

Activity: 2464

Merit: 2377

Quote from: swogerino on September 10, 2022, 05:19:44 AM

For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.

As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.

Many fairly well-known crypto-enthusiasts believe that ETH after Merge will only rise in value because ETH will become more deflationary. Therefore, your statement is debatable. Miners will switch to algorithms that will bring more profit, and ETC is currently in 10th place in terms of profitability - https://whattomine.com.

Also, casinos are more likely to support ETH POS than ETC.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: swogerino on September 10, 2022, 05:19:44 AM

For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.

As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.

Litecoin has been my alternative for a long time besides dogecoin for depositing and withdrawing my money. With lower transaction fees than other coins like ethereum or even bitcoin, it can make Litecoin one of the favorite coins of many gamblers.

There may be an opportunity for ETC to be used as one of the coins to gamble on, and if this is implemented, it may be one of the triggers for the coin ETC to increase. We gamblers look for the coins we want and often differ from what others use.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.

As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.

EarnOnVictor

hero member

Activity: 896

Merit: 654

Leading Crypto Sports Betting & Casino Platform

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

I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.

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?

They might not tell you, but there are policies of some companies to discourage a payment mode, which is what I can only infer from your explanation. They might include USDT in their adverts but in practice, they will make it unbearable/stringent to use on their platform. This is highly possible if the companies are covering for the transaction when you withdraw as part of the pecks to attract players.

Well, you are informed now, it's not wise to continue with USDT anymore when you have better options. You can always exchange back to USDT after the withdrawal if you so desire.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: gunhell16 on September 10, 2022, 12:37:50 AM

I just didn't notice right away why the transaction fee is 19$, that's why when @coin-trader said that I must set it in TRC20, I just realized that it was set in ERC20, so its expensive because I'm thinking about hours I always only see the 19$ but I didn't immediately notice that the network is ERC20.

I admit my mistake, sir, maybe because I was thinking so much, I didn't really notice that I should have set it to TRC20 first so that the charge is cheap.

Next time, you better double-check before withdrawing your money and see how much the transaction fee will be.
Sometimes, we are in such a hurry that we don't double-check everything and just hit the withdrawal button, which costs us huge transaction fees.
Using the TRC20 network reduces transaction costs compared to using the ERC20 network, so it will save you in paying transaction fees.
This is also a useful lesson always to check before we press the withdrawal button and, most importantly, make sure our wallet address is correct.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Quote from: jostorres on September 10, 2022, 01:03:42 AM

How many crypto casinos you have used in the past? Maybe that number is too low because on some casinos that I tried their fees are only cheap including in usdt withdrawals but of course, that must be in trc20 network and not in erc20 as we all know that eth have undergone in a fee issues lately.

You have used a crypto casino that has low fee for USDT ERC20 is the question here? Try and check the OP very well and check the image very well too.

What people are concluding to is that using Tron network for the USDT withdrawal would be with cheap fee which is what is correct.

Quote from: jostorres on September 10, 2022, 01:03:42 AM

In the OP's pic, the fees for trc20 usdt withdrawal is 19. I supposed that was in trx as well because it also says that the minimum withdraw is 15 usdt so if a player withdraws only a minimum amount which is 15 usdt and he will be charged by 19 usdt, then there will be nothing left for him but he still owes the casino of 4 usdt. 19 trx isn't that expensive but it's like 1 usd.

No, do not get that wrong with the light yellow colour for TRC20 which look like the network selected, check the network written under, it is ERC20, which means the network selected is ERC20. Withdrawing USDT TRC20 would be of low fee.

jostorres

hero member

Activity: 2576

Merit: 586

Quote from: Oshosondy on September 09, 2022, 01:00:59 AM

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

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?

Yes, it is like that in all the crypto gambling sites that I have used before, it is because they are supporting USDT on ethereum blockchain, just like others have said.

But there are few gambling sites that you can withdraw USDT using cheap fee blockchain like Tron blockchain, USDT fee would be cheap if it is TRC20.

I like most gambling sites, they give varieties of option when it comes to withdrawal. I do use Litecoin, most if the gambling sites support Litecoin which I always prefer because of its low fee.

How many crypto casinos you have used in the past? Maybe that number is too low because on some casinos that I tried their fees are only cheap including in usdt withdrawals but of course, that must be in trc20 network and not in erc20 as we all know that eth have undergone in a fee issues lately.

In the OP's pic, the fees for trc20 usdt withdrawal is 19. I supposed that was in trx as well because it also says that the minimum withdraw is 15 usdt so if a player withdraws only a minimum amount which is 15 usdt and he will be charged by 19 usdt, then there will be nothing left for him but he still owes the casino of 4 usdt. 19 trx isn't that expensive but it's like 1 usd.

gunhell16

hero member

Activity: 1904

Merit: 541

Quote from: serjent05 on September 09, 2022, 04:16:18 PM

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

I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.

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?

Lol, you always have another chain as an alternative. Everyone here knows that the price of ETH gas fee is very expensive, so if you happen to click the TRC 20 tab, you will see the difference in withdrawal fee charges. Actually, you are a click away from discovering that a different network has a different fee. Seriously, you should have known this fact since you have been in the industry for years now.

I just didn't notice right away why the transaction fee is 19$, that's why when @coin-trader said that I must set it in TRC20, I just realized that it was set in ERC20, so its expensive because I'm thinking about hours I always only see the 19$ but I didn't immediately notice that the network is ERC20.

I admit my mistake, sir, maybe because I was thinking so much, I didn't really notice that I should have set it to TRC20 first so that the charge is cheap.

alegotardo

legendary

Activity: 2352

Merit: 1121

☢️ alegotardo™️

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

I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.

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 believe the main culprit for this high tax is the mining rate of the Ethereum network.
As much as the site still consolidates multiple user withdrawals into a single transaction, the Ethereum network's fees are much higher than Dogecoin's.
For high amounts it can be advantageous to withdraw in USDT and save on exchange trading fees, but for low amounts it's better to withdraw to some low fee altcoin from your favorite exchange and then convert to Bitcoin.

bittraffic

hero member

Activity: 3038

Merit: 617

If the casino has an internal exchange, you have the option to just trade it to a low transaction fee coin like TRX or XRP. It's why it's best to pick a casino with this feature before depositing.

Not every casino has it. But if you deposit that USDT(ERC) too, you should know as well that the network fee is high. You pay high in depositing and high in withdrawing them.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

That's networked and protocol based since it's erc20.

That's really a network that's high in fees currently and that's why if there are other networks where you can choose if they're allowing it, choose the other network protocols for USDT like TRC20.

Since it's been known one of the cheapest.

AmoreJaz

legendary

Activity: 3122

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: Johnyz on September 09, 2022, 04:34:58 PM

Quote from: ?? on ??

Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO

Casinos should really not make any commission from those fees, those are just small amount but for the gambler it’s already big. Looking at the example of OP, ERC20 is still an expensive network as of the moment and not a good choice especially if you have the alternative network to choose from. TRC20 network is the cheaper option for USDT, if you have that option in the site better to use this instead.

this is not true for all casinos, just like what the OP gave as an example, even if the USDT is under Tron network, the fee is still expensive. so it depends on the casino and how much they are charging for fees. lucky if they have internal exchange and you can convert first your money to other alts with cheaper fees like LTC or TRX. some big casinos are already charging small fees for withdrawal. so if you are a player who is very conscious about withdrawal fees, better check their fees before depositing your money.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: ?? on ??

Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO

Casinos should really not make any commission from those fees, those are just small amount but for the gambler it’s already big. Looking at the example of OP, ERC20 is still an expensive network as of the moment and not a good choice especially if you have the alternative network to choose from. TRC20 network is the cheaper option for USDT, if you have that option in the site better to use this instead.

serjent05

legendary

Activity: 3052

Merit: 1281

Get $2100 deposit bonuses & 60 FS

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

I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.

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?

Lol, you always have another chain as an alternative. Everyone here knows that the price of ETH gas fee is very expensive, so if you happen to click the TRC 20 tab, you will see the difference in withdrawal fee charges. Actually, you are a click away from discovering that a different network has a different fee. Seriously, you should have known this fact since you have been in the industry for years now.

Fatunad

sr. member

Activity: 2296

Merit: 360

Its using up erc20 which it wouldnt be a surprising thing on why fee is really that high compared if it do use up Tron then it would really be just too cheap.
USDT could have these chains.
Ethereum
Tron
Algorand
Solana
Avalanche
Polygon
https://www.coindesk.com/learn/2022/06/01/what-is-tether-how-usdt-works-and-what-backs-its-value/

If there's some hover on what chain should be used then it would be always better on choosing the other option around.

dataispower

sr. member

Activity: 1330

Merit: 289

Each gambling website have their charge when you want to withdraw in their platform and secondly. Some of cryptocurrencies charge don't use to be high when you are withdrawing with some of the coins. I could remember the time i play with betnomi and the fees was high if you are withdrawing with bitcoin or Ethereum, but that time people who withdraw with other coins their charge's are lesser than the charge of Bitcoin and ethereum, so if the charge is expensive for the particular coin you are withdrawing with, you can change a coin and with other coin option, you notice the difference

johhnyUA

legendary

Activity: 2436

Merit: 1849

Crypto for the Crypto Throne!

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

legendary

Activity: 3346

Merit: 1134

Leading Crypto Sports Betting & Casino Platform

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

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

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

legendary

Activity: 2940

Merit: 1083

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

hero member

Activity: 1498

Merit: 547

Be nice!

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

legendary

Activity: 3374

Merit: 1922

Shuffle.com

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

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

$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

legendary

Activity: 2128

Merit: 1775

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

legendary

Activity: 1904

Merit: 1563

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

legendary

Activity: 1862

Merit: 1209

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

hero member

Activity: 2702

Merit: 672

I don't request loans~

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

hero member

Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

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

legendary

Activity: 3234

Merit: 1214

DGbet.fun - Crypto Sportsbook

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

hero member

Activity: 2072

Merit: 542

DGbet.fun - Crypto Sportsbook

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

legendary

Activity: 2576

Merit: 1655

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

legendary

Activity: 3108

Merit: 1029

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

hero member

Activity: 1428

Merit: 653

Leading Crypto Sports Betting & Casino Platform

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

legendary

Activity: 3010

Merit: 3724

Join the world-leading crypto sportsbook NOW!

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

legendary

Activity: 3542

Merit: 1352

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

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

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.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

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

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?

Yes, it is like that in all the crypto gambling sites that I have used before, it is because they are supporting USDT on ethereum blockchain, just like others have said.

But there are few gambling sites that you can withdraw USDT using cheap fee blockchain like Tron blockchain, USDT fee would be cheap if it is TRC20.

I like most gambling sites, they give varieties of option when it comes to withdrawal. I do use Litecoin, most if the gambling sites support Litecoin which I always prefer because of its low fee.

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Quote from: Coin_trader on September 08, 2022, 10:52:41 PM

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yes, I didn't notice that right away Sir, I should choose the TRC20 network because its transaction fee is only 11 TRX, it's only around 0.6$-0.7$.

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Anyway, thank you sir for saying that, I was just thinking about a lot of problems so maybe I didn't notice it right away. God bless you and have a nice day. Cheesy

Hehe no worries. I do overlook it sometimes since the symbol is almost identical to each other. But I still wonder why casino still accepts ERC20 tokens while there’s a counterpart token on different blockchain that offer much lower transaction fee. Using ERC20 is useless for gambling purposes except for whales that has huge amount of bankroll that can do it in one transaction.

But for the record. All gambling site charge flat rate for ERC20 mate. Make sure to always double check the network before you withdraw.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Quote from: Coin_trader on September 08, 2022, 10:52:41 PM

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yes, I didn't notice that right away Sir, I should choose the TRC20 network because its transaction fee is only 11 TRX, it's only around 0.6$-0.7$.

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Anyway, thank you sir for saying that, I was just thinking about a lot of problems so maybe I didn't notice it right away. God bless you and have a nice day. Cheesy

It is because ERC20 transactions are super expensive + I guess the casino keeps a small fees during withdrawal. We need to wait for ETH 2.0 and then the sharding which will reduce the costs of transactions.

TRC20 transactions are cheap like others said, but they should have also mentioned that its a different network. So make sure wherever you are withdrawing it does support TRC20 network and tokens or your coins are going to be lost forever. If you send a TRC20 token to a ERC20 network, highly likely you will loose your funds.

gunhell16

hero member

Activity: 1904

Merit: 541

Quote from: Coin_trader on September 08, 2022, 10:52:41 PM

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yes, I didn't notice that right away Sir, I should choose the TRC20 network because its transaction fee is only 11 TRX, it's only around 0.6$-0.7$.

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Anyway, thank you sir for saying that, I was just thinking about a lot of problems so maybe I didn't notice it right away. God bless you and have a nice day. Cheesy

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yogee

sr. member

Activity: 1554

Merit: 413

Transaction fees are still high for erc-20 tokens and not just for USDT so it's natural that they charge higher withdrawal fee too. Change network to TRC-20 and you'll see a lot less fee. I'm guessing it's around $1 or less.

....

I checked etherscan's estimate for USDT transfers and the highest priority is only $1.17. 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.

gunhell16

hero member

Activity: 1904

Merit: 541

I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.

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?

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