Topic: Casinos and gamblers are struggling with high tx fees.? (Read 665 times)

High transaction fees in cryptocurrencies can pose challenges for both casinos and gamblers, impacting the cost of transactions and overall user experience. Solutions may involve exploring cryptocurrencies with lower fees or optimizing transaction processes. ALLin Bet is a new Casino platform with a lower tx fee that is coming soon, stay tuned for more updates.

That's the great thing about online crypto casinos, there are many other alternatives that you can still use in the Txid activities that you use, the gambling industry currently has many crypto-type features that you can use to overcome expensive transaction costs, If Bitcoin is currently known to have high fees, we can still use others such as Tron and so on.

As far as I know and what I have seen, many of them are betting using USDT for now, maybe that way we can overcome the small losses incurred, High costs are not a reason or obstacle for those who gamble, there are many options to solve this problem.

Yes, currently regarding the application of taxes to entertainment venues and casinos, it is increasing day by day, the same thing is happening in my country. And if the application of this tax continues to increase, this will cause something quite worrying to happen. Apart from small casinos which are threatened with going out of business, because they do not have enough capital. But it would be even more worrying if these gamblers ran to visit illegal casinos. remembering, they can no longer afford the quite expensive costs, while their desire to gamble continues to swell. And when these gamblers run to visit illegal casinos, apart from being detrimental to themselves, because these illegal casinos are very prone to cases of fraud, this will also be a loss for the state, because if legal casinos experience a drastic decline in visitors, then their income will decrease, as will tax revenues.

It's low now because the people behind the exploiting has give it a break. Wait for a month before halving and see some crazy fees around Bitcoin transaction. As long as inscription exploitation of sats on Bitcoin network bug is not fix,the crazy transaction fees aren't going anywhere, it will resume and miners will be the only people enjoying this fees because people have bitcoin to spend and wouldn't sit and allow their investment to decline.

The alternatives is are good in funding Casino but the challenges here is that people want to see their win in bitcoin. For instance, if you deposit USDT using Tron(trc20) as people are suggesting, if you want to wager, you have to wager with the amount you deposited but for casinos that has market place where you can trade, you can move your coins from casino wallet to the market place and do some trade in the casino and then move back your coins the casino wallet where you can bet using bitcoin since many people prefer to use Bitcoin to gamble and have their profits in Bitcoin.

Another challenge could be because altcoins can be seize, we have seen so many instances where USDT are seize by the company, you don't want your profits be seize by one company because they suspect your money or doesn't like the casino you use for betting, there are the problems of the alternatives.

I use Bitcoin before to gamble, now I am using USDT. It's a waste of Bitcoin if we just keep on using it for withdrawals. That's a lot of money paid for the transaction fees instead of just $1 in USDT Ethereum chain. Some friends are suggesting me to use XRP instead, it's way more cheaper than USDT but I think I can manage the $1 fees. That's lower and easy to gain. I don't have any problem with XRP but I am not used at gambling using that currency, I get confused how much the money I have or lost.

Transaction fees have gone down again but the enthusiasm of gamblers never did inch away even a little bit. They are continuing their pursuits of high multipliers and rolls like they always have been. Like I said previously, gamblers gamble because they are in a hunt to make money with their luck. Here any obstacle to depositing money is shooed away like anything.

Also such times are temporary in the bitcoin network and for the time being altcoins came to the rescue. Eventually it settles and the players are back in order.

You can try to check for yourself how many players are still busy on an online gambling site even though bitcoin fees are high, anyway, only the bitcoin fee is high but the cost of sending altcoins is not high so there is nothing to worry about, especially when there are alternative options for depositing or making withdrawals on an online gambling site.  but i really wonder why there is still no exchange feature on a gambling site, i'm sure it will be a very helpful feature for gambling players who actively play.  

Actually that 3$ to 10$ transaction fee isn’t that a big deal for user that huge bankroll in Bitcoin because the price is increasing too in long term. He can recover that fee with just a little price movement on Bitcoin price or by winning few bets in the casino. It’s not a reason to struggle in gambling just because of high tx fee since withdrawal and deposit is not frequent on gambling unlike on trading which user often store their coins on non custodial wallet after trading.

Also some casino offers free withdrawal despite high transaction fee in Bitcoin. This makes gambling on Bitcoin still convenient but ofcourse this is not advised for low bankroll user because the fee is already significant percentage on his total bankroll. As a normal bankroll gambler, I can say that fee doesn’t affect me much.

You're correct and some casino that didn't have alternative options for payment are adding it to their casino due to the congestion. Stablecoin can also be used when fees are high or other altcoins that the casino that you're using is supporting. Fiat currency are also been used on most casinos therefore there are different options to use when Bitcoin network is congested. No individual is struggling with fees unless you decide not to use other options available but use only Bitcoin.

Also you don't have to make deposits every time you want to gamble, you can keep small amount of money in your gambling account so you can use it to gamble and always refill your account when the network congestion has been reduced. Bitcoin fees aren't always high, some time the network will be less congested and you can refill your casino account with the money that'll be enough for you to enjoy your games for sometime.

Casinos also use fiat currencies and USD so gamblers can use those ones to gamble in the site. They can even convert the Bitcoin in the site to any other altcoins and withdraw and also use altcoins to deposit. And according to some of the Bitcoin experts in the forum, the ordinals that are spamming the Blockchain cannot be removed from there so tx will also become volatile like it master Bitcoin. And those who are engaged only with bitcoin still gamble with the high transaction fee.

Yes, taking a short break is a solution that we must share with fellow gamblers so that they know that by taking a break, they can really refresh their minds and not think about gambling. They can do other things that might help them reduce their gambling activities. By resting, they can save money instead of using it for gambling to have more money to use for other things.

By resting, they also prevent losses from gambling and of course, they will not lose their money because the money has been saved for other purposes. They can go on holiday for a while to another place to reduce the tension of playing gambling previously, which will help them forget about the defeats they have received previously.

Mempool congestion has been great problem for all Bitcoin users. This is very embarrassing especially for those who doing small transactions. Due to the increase in transaction fees, many will conduct gambling with altcoins rather than gambling with Bitcoin. I think the gambling platform will not suffer much if they have a alternate deposit system. Every crypto-based platforms has multiple deposits system. A gambler who is willing to gamble must choose to continue his gambling under any circumstances. If he is not a small gambler then the tax fee is not an issue. I used to gamble with Bitcoin but now feel comfortable gambling with TRX as an alternative.

You are right that there are many casinos and also many altcoins that can be used for gambling, after all, every gambler will have their own favorite currency for each use for gambling.
It just that there are lot of gamblers who still use Bitcoin for gambling because the price is experiencing an increase and when they have enough saved in their balance to gamble then that amount will also increase, this is profitable because it increases capital.
It just that because the increase in costs has more than doubled, it means we all have to pay more, most gamblers will use USDT in their currency value because the costs are very low.
When just gambling for fun we can use various altcoins that are available to use and this is the best alternative to be able to face the increasing costs that occur with Bitcoin.
Moreover, several altcoins such as USDT also have several networks which of course can avoid congestion that occurs when carrying out several transactions such as deposits or withdrawals and I personally choose USDT as an alternative but the main currency value is still Bitcoin.

Gamblers have a lot of choices so instead of getting frustrated with high fees they should choose other alternatives.

But if they decide to gamble using bitcoin for sure they might struggle for that and no other choice but to follow what recommended fees set by their wallet or else they will get a slow confirmation with that.

For sure same as you lots of gamblers have alternative coins to use since fees for bitcoin is much crazier since if we encounter a pump high fees comes together that's why when I game I choose those alts because if I choose to deposit bitcoin I feels like I already lost considering those fees that we need to settle.

That only happens to poor gamblers, usually they tend to want to gamble because they want to make money, so they get a little stressed if they lose, let alone lose a lot of money, it's really sad to see them like that, gambling should be used as a place to have fun or entertainment to refresh the mind. but it actually makes the mind even more stressed because it experiences many losses from gambling itself. lol

Returning again to the discussion about expensive transaction fees, Bitcoin gamblers should take a break when they see high transaction fees on the current busy network. This could be a reason not to gamble temporarily for anyone who gambles using Bitcoin, even though there are other crypto alternatives. others that can be used for gambling and have much lower transaction fees.

Are the players of the casinos not allowed to swap their coins?
You can easily swap your Bitcoin for other relatively trusted stable coins or just swap for an altcoin.
Crypto casinos have a wide range of coins for withdrawal and funding. So there's nothing wrong with swapping your Bitcoin to another coin to evade the high transaction fees.

On the forum, some campaigns that use Bitcoin as a mode of payment have switched to other altcoins, I don't know if this is per the rule of the forum but it saves them and their campaign participants more transaction fees.

This has always been my fear about ordinals.
Normally, I don't care about Ordinals, but I knew it was a matter of time before people started looking for alternative means to reduce transaction fees. This would in turn reduce Bitcoin adoption and this is my concern.

Simply put, gamblers usually use Trx to make transactions. As we know, Tron is the cheapest coin now to use for every transaction. therefore gambling sites offer several crypto options for deposits. Usually there are always Tron and Litecoin as iconic coins for cheap and fast transactions. they also provide gambling games for these two coins. I'm sure the way they cover it is with tron and litecoin, although in some transactions they still use bitcoin (if the transaction is large) but in large transactions they always rely on which coin has cheap and fast fees.

Casinos have solved high transaction fees issue (not every casino has changed their withdrawal policy according to current fees situation) with increased fees in other altcoins. For example Bitcoin, some casinos offer slow and fast withdrawal methods. During high fees, casinos still charge $3-10 for withdrawal, while it cost $20-50 for user to make a transaction. How casinos handle that? Lets looks at BNB fees for example. It cost around 1 cent to make a transaction, when casinos charge users $0,3-1 for that.

Not sure with others but there are lots of casinos and lots of altcoins to use why only depending in Bitcoin? remember that this is about gambling in which we are playing to enjoy and win no matter what currency we are using?
good for me that i have always stocks of altcoins (not the big but enough to make me happy in gambling) so even congestion will never make me problematic to gamble.

Of course, we all understand that, the problem is that if you play with bitcoin, and the casino doesn't have an internal exchange? what does he play? withdraw in bitcoin and that is where the casinos sometimes find it difficult to cover these transaction fees, because there are some casinos that do assume this expense, but not all of them have sufficient Capacity , some cover up to 70% and Still So things tend to look expensive, of course all this is what I would say affects how a person can do to avoid such transactions, and the idea is not to wait for the problem to be resolved or the problem, I have another solution how to continue Playing to make the fee , because only sometimes it happens that to be able to do this you lose a lot of money, since you will be risking a lot, then the prices would be out of balance even more and if the person waits and by chance the bitcoin goes up in price then the transaction is higher, unless the person assumes that 1BC=1BTC and that's it, from there they do not look at its value in fiat, and the hit is quick.

For this reason, some casinos should take the Initiative to move Quickly to solve all this , First of all to be able to Experiment with things that are more in favor of Making a less Expensive Exchange , and I don't know how Expensive it is to set up an internal exchange, since with that A large amount of money would be Moved , but internally in the casino altcoin wallets would have to be Enabled , although I Really would do Something like that in a Casino I would do it only with btc-usdt and if that works out for me it would be better and profitable, because if I see that I am going to lose a lot as a casino because it is not worth it , but it would be one of the things that can be done , I guess I sense how some or most casinos do not do it because it Means that it is somewhat Expensive , or something Maybe it's not Viable , that's what I'm assuming and that's why they don't do it, of Course I'm speculating About it.