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Topic: Casinos Withdrawal Fees Rise (!?)|| October 2020 - page 10. (Read 6360 times)

hero member
Activity: 3052
Merit: 685
...//..:
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

Now! It is not about "normality" so that the fees return to a minimum ratio of 1:10 if that is what is understood by normality, nor is it that the casinos want to profit from this (as someone comments), really more myth than truth at least in serious casinos with an excellent reputation.

Here it is not about "fees" cheap or that it is a high or low fee, it is about the correct fee, as I mentioned in some posts, it is about having the correct estimate or the closest thing to that and not simply charging a fee as high as possible so that the transaction runs in at least a few minutes.

The options of three types of fees high, medium, low or to be able to set the fee yourself are presented as the best.

With that, I think we should just choose the best site that offers the right withdrawal fee for us, which is closest to the actual fee, however, there are really sites that their standard withdrawal fee is very high compared to the actual fee when transacting using your own wallet.

We can't say they are a bad site though as gamblers are more looking for the experience than the withdrawal fee, although let's say withdrawal fee can be part of the experience but for big bettors, it doesn't really matter a lot.
legendary
Activity: 1918
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LE ☮︎ Halving es la purga
...//..:
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.

Now! It is not about "normality" so that the fees return to a minimum ratio of 1:10 if that is what is understood by normality, nor is it that the casinos want to profit from this (as someone comments), really more myth than truth at least in serious casinos with an excellent reputation.

Here it is not about "fees" cheap or that it is a high or low fee, it is about the correct fee, as I mentioned in some posts, it is about having the correct estimate or the closest thing to that and not simply charging a fee as high as possible so that the transaction runs in at least a few minutes.

The options of three types of fees high, medium, low or to be able to set the fee yourself are presented as the best.
hero member
Activity: 2058
Merit: 538
Leading Crypto Sports Betting & Casino Platform
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.
The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.
Not directly related to price. It is due to a network bottleneck and it is possible also price climbs higher but the unconfirmed transaction was less than 5000. So the withdrawal fees will be as same as the previous day, the swap functions should be implemented for avoiding to pay the 10% of withdrawal amounts less than $20. Using altcoins is always a better choice for gambling, in my opinion.
hero member
Activity: 2856
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https://duelbits.com/
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.
The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.
It's true this is an increase factor and all the networks are congested because people may be a lot of transactions, but now it's back to normal after I saw and used costs in the last few days, for example ETH has soared and now the gas is normal I think gamblers are already relieved that they are free to choose which altcoins they want to play with in their gambling.

But in gambling platforms the withdrawal is fixed at the cost so it will return to normal unless an option has been changed in changing the gas fee.
hero member
Activity: 2548
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Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.
The increase in fees when making withdrawals is due to the factor of the increase in the price of bitcoin, whereas for withdrawals using other altcoin methods I don't think the price increases, because I see there are still some gambling places that still have fixed withdrawal fees, it's just that possible transactions to the designated wallet will take longer to confirm.
hero member
Activity: 3052
Merit: 685
But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea.
Exactly, all you want is to win, hence to minimize the expense in withdrawal fee, that will add on your asset side.

I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.
Not all of them actually, in fact some casinos are giving us an option to use altcoins to avoid the high transaction fee, and I think at this moment, the transaction fee is not high anymore, so if casinos had increase it before, they better get it back to normal now.
hero member
Activity: 2828
Merit: 518
I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!
Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.
Yes, it was a practice back then to used gambling sites as sort of like "mixing services", that why they have to charge users and most of the time gambling sites will just froze your account for suspicious activity. And it's good if some casino's will let users choose the available options, as most of us wanted cheap fees. Of course if you are in a hurry, you wanted to fastest so you have to pay higher fees. So thumbs up for online casino's that has this kind of options.
But if you are a gambler, fees will really matter and choosing those who can offer a small one could be the best idea. I'd never see there is another reason the cause of this changes as it is eventually a practice before.What casinos did is just to get some more profit coming from fees and they'll also taking the advantage while Bitcoin is in hype.
hero member
Activity: 2870
Merit: 594
I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!
Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.
Yes, it was a practice back then to used gambling sites as sort of like "mixing services", that why they have to charge users and most of the time gambling sites will just froze your account for suspicious activity. And it's good if some casino's will let users choose the available options, as most of us wanted cheap fees. Of course if you are in a hurry, you wanted to fastest so you have to pay higher fees. So thumbs up for online casino's that has this kind of options.
hero member
Activity: 2996
Merit: 609
This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.

if casino supports several cryptocurrencies you may choose the one with the lowest fees. for example, many casinos support TRX and fees for this coin are very small. and another example  - ETH with fees about $10 only in Ethereum chain 1.5 month ago.
Wayback on where ETH fees were up on the roof too which it isnt really worth to make out such transactions for that time and thats my first time on seeing ETH does have that kind of fee issue
where it really rise up unlike before on a network clogged where ETH is the main option but it seems it do goes along with BTC problem.

Good thing for some casinos which do really have lots of coins alternative which can really help on this kind of fee issue yet you can choose up other coins as well.
Yes, TRX is one of the best coin when it comes to this.

If you dont like to use alts but only stick with Bitcoin then you wont have the choice but to wait up.
legendary
Activity: 2772
Merit: 1028
Duelbits.com
I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!
Not true in all cases, I have seen many blocked or frozen gambling accounts due to using the deposit/withdrawal as a hot wallet. The low fees can attract the other users who have no interest to gamble to make deposits/withdrawals for transferring the crypto. It is necessary to charge the average fee because unlike gambling websites Kraken exchange even takes the deposit fee from each deposit to balance the costs.
full member
Activity: 1316
Merit: 105
This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.

if casino supports several cryptocurrencies you may choose the one with the lowest fees. for example, many casinos support TRX and fees for this coin are very small. and another example  - ETH with fees about $10 only in Ethereum chain 1.5 month ago.
full member
Activity: 1022
Merit: 133
I think casinos shouldn't charge at all for withdrawal fees by their own set fee. Rather than just let players choose the available fee options for them just like when sending from a wallet he owns private key for. That way, a user can easily choose less fee if he doesn't need the funds urgently!
hero member
Activity: 3024
Merit: 680
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I used to play on an online casino that charge me $10-$20 Lol  Grin
It’s not the fee but my bitcoin reduced by that amount of money.
Even the bitcoin price fluctuation would affects it lower than that.
Also, I need to pay for the fee too.
They have a “not-so-good” bitcoin price conversion.
I think an online casino should state it on their website about how they convert our money into btc, vice versa.
Fee for the commission of that casino and fee for the transaction fee of the transfer.

They will deduct it to your balance and will send you the net of your profits as you withdraw it. You should have asked their support how they're converting the prices or what price tracker they use.
legendary
Activity: 2912
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High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.

This is one point of view and it makes sense, fees that are high enough are guarantee for quicker transactions.
But I don't think this is the only reason, it's also the way that casinos protect themselves through some kind of commission for their services. I also think that is connected with Bitcoin price and network fees. Anyway, it's the cost we need to pay when gambling.
legendary
Activity: 2968
Merit: 3684
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In effect, this is about the casinos offering LN alternatives, currently it is not for everyone in the sense of availability of BTC but at least there are already many users using LN. The version 4 or higher of electrum practically bases its update in improvements for of LN with electrum.

Haven't had to use Lightning, especially when mempool peaks really don't last long anymore, but yeah, with CG now adopting it, others are sure to follow suit. It's definitely not YET for everyone, and I daresay I'm on that spectrum of everyone that won't be risking payments with it until I'm certain of myself.

The only thing to add here is CG's LN service provider charges 1%... so if you use the current max deposit of 0.04 BTC... in effect you're paying a fee of 400k satoshi, which is still probably not what I'd have to pay even on peak.

It's perfect to deposit 1000 satoshi though;)
sr. member
Activity: 1120
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https://bitcointalk.org/index.php?topic=5274318.0
I used to play on an online casino that charge me $10-$20 Lol  Grin
It’s not the fee but my bitcoin reduced by that amount of money.
Even the bitcoin price fluctuation would affects it lower than that.
Also, I need to pay for the fee too.
They have a “not-so-good” bitcoin price conversion.
I think an online casino should state it on their website about how they convert our money into btc, vice versa.
member
Activity: 728
Merit: 63
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This is happening for the current bull run of Bitcoin pricing. Bitcoin price is getting high and at the same time withdrawal fee is also rising similarly. It should be decreased rather than people will discourage to use it lately. Some casinos has the lower fees and they are doing well in the current time. That should be followed by others. To get more traffic, it should be imposed.
hero member
Activity: 2954
Merit: 672
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High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.
That's a good option for a site that does charge a withdrawal fee, I really like the system of Betnomi as you can choose an altcoins with the lowest withdrawal feel, BCH and TRON were my favorites in that site. Anyway, for free withdrawal, I believe sportsbet have that, but don't know if they are still doing it at the moment that fees are really high.
legendary
Activity: 1918
Merit: 3047
LE ☮︎ Halving es la purga
The history of the alts is already known, this history is well known and repeated, so there are few casinos that do not offer these alternatives, it is about bitcoin, the reasons are irrelevant, the reality is! you want to withdraw bitcoin these are the alternatives offered in these casinos.

...//...: but Crypto-Games doing Lightning Network is a very interesting development. Maybe we can all ask different casinos to do something about it too:)
In effect, this is about the casinos offering LN alternatives, currently it is not for everyone in the sense of availability of BTC but at least there are already many users using LN. The version 4 or higher of electrum practically bases its update in improvements for of LN with electrum.

Roobet is offering additional alternatives in low, medium, high, when before it only offered a withdrawal fee.
_
Contrary to what one user mentions, I believe that casinos strive to offer the best withdrawal alternative, in fact a high fee only seeks to get your withdrawal processed quickly. What they must improve is that it be the best as appropriate.

This is the estimated fee, right now:



Source: https://mempool.space this page is for post purposes, only you can and should find the best information.
hero member
Activity: 2968
Merit: 687
High casino fees are for our own good if you understand it wisely. They use the fees to send our transaction with much higher fee to get it confirmed and have our coins in our hands quick. On the other hand, if some casinos allow us free withdrawals, that should be counted as their generosity. I play at betnomi as they allow me to withdraw in any crypto and I save fees that way because there are some altcoins available with cheaper fee and I withdraw them to save myself some bucks.
If a casino doesn't really have any option since they do only accept bitcoin and does only offer bitcoin then they would really be compensating for the fees since its been stated that it was free and they would really be adding up those to expense and when theres sudden fee price spike then they are much pretty aware of it.

It is indeed showing off some generosity but for those who do have options for people to switch up with altcoin then that will be a big relief to them since they wont need to pay up for something big
for a certain transaction buts that's only in "if" case.  Cheesy

This is why I do stick with casinos with internal exchange set-ups.
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