Casinos Withdrawal Fees Rise (!?)|| October 2020 - page 17.

harizen

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So there are people here who will just play on the site and if win, will withdraw immediately? Then deposit and so on? It's a NO for me unless I got hooked up at the site but still it will eventually lead me to do a casual withdrawal to save fees.

There is fees concern even before so I don't usually withdraw especially if I always used the site (yes, part of the risks). In that way, a) I can place my bet right away without depositing b saved withdrawal fees. Like for example in NitrogenSports, only Bitcoin is the accepted payment method here so I have now used to only withdraw whenever it needed.

Quote from: bonjouros on August 08, 2020, 01:12:10 PM

This type of casinos are taking advantage of bitcoin increase in which they shouldn't have to do because they can just remain
their fees the same if they really care to their customers because if the customers will not like their actions then they will surely
transfer to other casinos that offers a fair fees even if the bitcoin prices continuos to increase.

Like what casinos? Fees now become concerned because they looked at crypto's fiat value.

Overall, it should always be crypto to crypto.

Ryker1

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Quote from: Twentyonepaylots on August 08, 2020, 03:15:10 PM

The fees always varies on any type of the coin where the network congestion is big deal in determining the fees, even the slower ones will rise due to this.

Well, that is right. Bitcoin gambling casino has no fault here when the withdrawal fee will arise. When the network is congested, that is expected that bitcoin fee will also arise due to overloaded network and a lot of unconfirmed transaction. You can check mempool in that way, if the network is congested, don't mind about withdrawal. Just wait until the network did not busy and withdraw your bitcoin. ^{[option 1]}

Another is, --exchange your bitcoin into lower fees altcoin, like XRP and Ethereum to your wallet. But make sure that the online casino site has multiple cryptocurrencies accepted. ^{[option 2]}

Twentyonepaylots

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Quote from: Tipstar on August 08, 2020, 10:27:41 AM

Casino withdrawals fees has rose sharply in last few months. I remember cashing out from bustabit at about 967 satoshis a few months ago while the last time I did, the fees were about 50K satoshis. Even at the time of writing the fees are 4.5K saotshis. They have a flexible approach to fees and those fees are for slow withdrawals.

The fees always varies on any type of the coin where the network congestion is big deal in determining the fees, even the slower ones will rise due to this. And this is why bitcoin withdrawals are more expensive than any other coins coz the network is easily congested unlike ethereum which can handle a lot of transaction at a time. So the timing of withdrawal is a must to, you don't want to spend much on a fee unless you are in a hurry in which I think is rare for a gambler. This is also why I withdraw every time I'm done playing, this happens frequently.

aioc

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Quote from: Genemind on August 07, 2020, 06:48:05 PM

That is why I avoid gambling with bitcoin especially when the price rises. Moving your funds from one place to another cost a lot. I switch to altcoins to avoid this absurd fee, there are casinos where you can choose your favorite coin, you can always try XRP which I believe is one of the best options in terms of withdrawal fees.

The fee is a big concern for small players like me I changed my options to Doge and XRP and if not available I checked which is the best coins to deposit that are cheap and fast so if you're a small players you are on a lost using Bitcoin, even Ethereum has an increase on it's fee I once deposit and paid $2.10 first time it happen to me on Ethereum deposit.

bonjouros

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This type of casinos are taking advantage of bitcoin increase in which they shouldn't have to do because they can just remain
their fees the same if they really care to their customers because if the customers will not like their actions then they will surely
transfer to other casinos that offers a fair fees even if the bitcoin prices continuos to increase.

It will be good if you can drop some list of casinos here so we can do a comparison to their fees and for other users also
to decide whether they need to transfer to other casinos or they can just remain if they are not worried about the increase of fees.

noormcs5

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Quote from: nakamura12 on August 08, 2020, 11:11:06 AM

Try to contact the owner of the casino that you have found increasing their withdrawal fees. There are some gambling site thta have fixed withdrawal fees due to a reason. Asking would be the best choice to do if the casino did increase their withdrawal fee or try gambling on a casino that accept different cryptocurrency.

This will not be fair for the casino to lower the withdraw fee for those who request them or contact them. The fee should be same for everyone.
In most cases, it is useless to contact the support on withdrawal fee issue because they will simply say that it is not in their control because the tx fee are increased throughout the bitcoin blockchain.

peter0425

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Quote from: nakamura12 on August 08, 2020, 11:11:06 AM

Try to contact the owner of the casino that you have found increasing their withdrawal fees. There are some gambling site that have fixed withdrawal fees due to a reason. Asking would be the best choice to do if the casino did increase their withdrawal fee or try gambling on a casino that accept different cryptocurrency.

There nothing wrong asking them, they might adjust if they are capable of.

Or, your other options are also good if you want to prevent such high fees, you can use other coins
that also accepted from the gambling place that you are playing,
but if not you can always find other reputable gambling house that allows you
to use alts to play your favorite games.

Rosilito

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Quote from: Maus0728 on August 08, 2020, 12:49:26 AM

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That is why, it would be more appropriate to withdraw at least 0.03 - 0.05 amount of bitcoin on a regular basis whenever the mempool is congested.

It is supposed to be when mempool is "not" congested, right? Or did I have the wrong idea? Grin

Quote from: Maus0728 on August 08, 2020, 12:49:26 AM

There is nothing we can do but wait until the mempool transaction declined or cash out big.

It is better to wait, than to risk insane fees. And so far, this seemed more practical, in my opinion, specially when you're not rushing anything. Since it will be confirmed, after all.

Quote from: kotajikikox on August 08, 2020, 10:13:27 AM

Quote from: carriebee on August 08, 2020, 05:10:28 AM

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It's bothering but understandable, fees are based from the network and casino house are mostly relying that from the situation.

I agree, it is just an assurance for your transaction to come in no time on its designated address. Besides, if you're not fond of converting your stuff into altcoins (since it is an extra work, or for whatever reason) , then better take into consideration what @Maus0728 said above. It will be just a waiting game, you're going to deal with Wink

.

nakamura12

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Try to contact the owner of the casino that you have found increasing their withdrawal fees. There are some gambling site thta have fixed withdrawal fees due to a reason. Asking would be the best choice to do if the casino did increase their withdrawal fee or try gambling on a casino that accept different cryptocurrency.

Tipstar

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Casino withdrawals fees has rose sharply in last few months. I remember cashing out from bustabit at about 967 satoshis a few months ago while the last time I did, the fees were about 50K satoshis. Even at the time of writing the fees are 4.5K saotshis. They have a flexible approach to fees and those fees are for slow withdrawals.

Shasha80

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It is not new if the price of Bitcoin increases, it will also increase casinos withdrawal fees. The popular way of dealing with this,
by using altcoins to withdraw from gambling sites. Coins like XRP, LTC and DOGE are the right choice to make a withdrawal.
Because withdrawal with altcoins is not only cheaper, but the process is also fast.

kotajikikox

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Quote from: carriebee on August 08, 2020, 05:10:28 AM

I planned to withdraw the other day in one of the gambling site then it surprise me their fees to withdraw is expensive. Granted btc price increase these days so it's best also to use other coins which cater lower fees. Some site they have lower fees of 0.0002 btc from vipgame which is fine and some rate is 0.0005 which is high fees so some gamblers avoid using btc to withdraw and some avoid in playing online these days for the meantime.

It's bothering but understandable, fees are based from the network and casino house are mostly relying that from the situation.

Most gamblers knows it and some already choose to use other coins,
alternatives that have lower fees. They still enjoy the same game
but they ain't worry anymore with high fees.

Becky666

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This has been seen whenever the price of Bitcoin rise, so, no gambler should be shock when seeing this happening. As a gambler, gambling with Bitcoin has taught me several lessons from the beginning and have learned much. Most of my gambling platforms are those with options of altcoins and not just solely on Bitcoin only. Bitcoin rise always come alongside with different challenges which mostly affect it fees hugely.

The only way to avoid this bitcoin fees spike in the coming weeks and months is taking the appropriate decision now to change to gambling casinos platforms that allow altcoins as an option. Gambling casinos platforms with exchange still the best.

ralle14

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Quote from: Coin_trader on August 08, 2020, 07:11:57 AM

Some Casino has built-in exchange, Players there are very lucky because they can avoid huge transaction fee of BTC by converting in to altcoins that has lower fee.

From my experience you'd still take a hit by using their exchanges the conversion rates are significantly lower since they need to make a profit out of it. You're better off doing the trade in an actual exchange or wait for the right time if their fees are dynamic.

Quote from: cryptomaniac_xxx on August 08, 2020, 03:24:51 AM

What if the casino's doesn't have the options to withdraw your funds in other coins? So it's either you:

(a) wait till everything settles down
(b) or withdraw it in batches, it might take long though and won't be instant (of course, there's no such thing as instant, you still need to wait for a couple of hours)

And a third option which is to man up and pay the fee since there are casinos that won't reduce their high fixed fees.

dothebeats

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That's why it's hard to play on casinos these days due to the sudden spike in fees that they have implemented. Casinos that implement withdrawals with custom withdrawal fees are very rare and are much needed IMO especially if the players who want to cash out don't mind waiting for a few hours to get their coins in their wallets. I'm one of those who doesn't really give much thought on how long do I receive a transaction as long as I see it already on block explorers since I don't really use bitcoin/crypto much for spending, only just for gambling and ordering random stuff that I like. If they'd implement this, I'm sure this would be appreciated by a lot of gamblers since it might save them even more satoshis which they can use to further play on the platform.

plvbob0070

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Well, I don't usually gamble but that's also one thing that we can't avoid when the price of bitcoin increases. However, even with the increase, I still gamble with bitcoin just because I'm so used to it and I feel more comfortable using it that I don't bother using other coins regardless if bitcoin has a higher withdrawal fee.

Maybe also one thing that higher withdrawal fees is not bothering me much because I only gamble occasionally, meaning I don't have to make a lot of withdrawals. Also, the last time I made my withdrawal, it is not that high.

Twinkledoe

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Quote from: sunsilk on August 07, 2020, 09:14:52 PM

There is a relation to the current price rise of bitcoin and also because of the network congestion. I'll take the advice of others if you don't want to pay the increased fee for bitcoin withdrawals, you can always convert it to altcoins which have lesser fees.

But if your casino doesn't have an option or feature like that, you can set to the lowest priority but make sure that you're not in a hurry. We have no choice if fee increases but to do what fits the likes of you in withdrawal.

But I know one new casino here that the withdrawal is really high and no other options. So if you are a gambler who is conscious about the withdrawal fees, you need to check first their fees and options before sending any money to the casino. With the network getting congested, they really have no choice but increase their fees.

erikoy

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You could ask OP on the official threads here if that gambling site is promoting it here also.I bet they too had good reason and answer for the sudden increase. As we all know that anywhere in this globe basic commodities always arises so does other things unending arise of prices even now with the pandemic.

Well, we have to move on accept probably there will be good news after that and sense that we could expect better service and higher chances in winning games.

AicecreaME

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This is to be expected I guess, especially in this time of pandemic because people started to prioritize first their needs and they only gamble a little compare before, that's why the gambling site increases their withdrawal fees, because they have a business to keep running as well as families to feed.

Just like what you have mentioned, clearly they are taking the advantage to take back the profits or bankroll they lost during the first wave of the pandemic. And I guess you shouldn't probably playing gambling if you're being bother by the sudden rise of their withdrawal fees cause that just means you can't afford to lose what you have.

Coin_trader

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The OP is concerned about big player but they are not really the most affected because transaction fee is fixed to all withdrawal amount so that minimal fee will not gonna hurt them. Small players is the most affected and suffering huge withdrawal fee. It's better to gamble using altcoin like $XRP because it's fee is very cheap no matter what is the price of BTC.

Some Casino has built-in exchange, Players there are very lucky because they can avoid huge transaction fee of BTC by converting in to altcoins that has lower fee.

Topic: Casinos Withdrawal Fees Rise (!?)|| October 2020 - page 17. (Read 6424 times)