Casinos Withdrawal Fees Rise (!?)|| October 2020 - page 5.

Russlenat

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Quote from: ralle14 on December 12, 2020, 04:43:21 AM

Quote from: peter0425 on December 12, 2020, 03:50:11 AM

I don't think gambling site will go that far,because casinos online wont survive with only rich people playing.
they need additive from small players,so adjustment will surely happen if ever price of Bitcoin reach that top and also gamblers may use altcoins for much cheaper playing,or else will back to Fiat as that is the only amount they can afford

Imo casinos can still survive with high rollers if the price becomes stable at $100k. They could retain the limits but if they want to appeal to the majority then they have to reduce the limit. A lot of bitcoin gamblers use bitcoin to avoid KYC so I doubt they'll switch to fiat and like you've said altcoins are cheap it's a good option and most of the popular bitcoin casinos accept altcoins.

Of course, the fee would not be high for gamblers who are gambling a decent amount, at least they can still continue to enjoy the anonymous gambling where they cannot do in a fiat casino, so it's not really a problem, besides it's not only bitcoin that is accepted now, we still have altcoins and even stable coins and gamblers can still enjoy gambling anonymously.

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Quote from: peter0425 on December 12, 2020, 03:50:11 AM

I don't think gambling site will go that far,because casinos online wont survive with only rich people playing.
they need additive from small players,so adjustment will surely happen if ever price of Bitcoin reach that top and also gamblers may use altcoins for much cheaper playing,or else will back to Fiat as that is the only amount they can afford

Imo casinos can still survive with high rollers if the price becomes stable at $100k. They could retain the limits but if they want to appeal to the majority then they have to reduce the limit. A lot of bitcoin gamblers use bitcoin to avoid KYC so I doubt they'll switch to fiat and like you've said altcoins are cheap it's a good option and most of the popular bitcoin casinos accept altcoins.

peter0425

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Quote from: boltz on December 10, 2020, 11:04:56 PM

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

I don't think gambling site will go that far,because casinos online wont survive with only rich people playing.
they need additive from small players,so adjustment will surely happen if ever price of Bitcoin reach that top and also gamblers may use altcoins for much cheaper playing,or else will back to Fiat as that is the only amount they can afford

madnessteat

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In a situation where the membool is heavily overloaded casino intentionally raises the commission on the withdrawal of funds that your transaction was quickly confirmed and just do not have time to change them when the membool is unloaded and the commission in the network are acceptable. I just wait for the commissions to go down and make a withdrawal.

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High withdrawal fees is one of the most annoying things about dealing with gambling sites. The mempool hasn't been to congested recently so fees have been somewhat reasonable lately but they are still overcharging by a lot. Optimizing their fees does not seem to be a priority. Freebitco.in's "slow" option is the best I have seen aside from a few which offer free withdrawals.

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If a Casino offers the user the option of being able to set their own TX fees (admittedly, I haven't looked, so it may not be a thing) then a user can view one of the many TX fee estimator sites and get an idea what a reasonable TX fee for the time frame they want/need the funds in.

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Quote from: Russlenat on December 11, 2020, 06:38:14 PM

It's not expensive but it will make you wait for awhile before your money will be credited, some of us wants instant especially on withdrawing our winning as we like to enjoy that right away. Personally, when I want my transaction to confirm fast, I increase the transaction fee, like 0.0001 fee or higher, that's equivalent to more than $1 and sometimes higher when the market is congested.

We control the fee of the transaction. If we don't want to pay a high fee, we don't have to deposit and wait until the fee can reduce a lot. That is what I do if I see the fee does not make sense for me. But as you did, I will increase the transaction fee if I want to have a fast confirmation of the transaction.

If the casino raised its withdrawal fee because they don't want to see their member withdrawals get a long time to get confirmed by the network, and I think they try to anticipate that thing. When the network is not busy, the casino will reduce the fee to a regular fee.

Russlenat

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Quote from: boyptc on December 11, 2020, 02:56:14 PM

Quote from: boltz on December 10, 2020, 11:04:56 PM

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

If you look at the $ value of the fee by that time, I agree that fees would be that much if we convert it during that time.

But if you see like 0.00001 - 0.0001 or 10 sats/byte today, it's not that expensive at all. There can be some conditions and changes that shall be applied at that time by most casinos like lowering it or having a based fee just as the same today.

It's not expensive but it will make you wait for awhile before your money will be credited, some of us wants instant especially on withdrawing our winning as we like to enjoy that right away. Personally, when I want my transaction to confirm fast, I increase the transaction fee, like 0.0001 fee or higher, that's equivalent to more than $1 and sometimes higher when the market is congested.

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Quote from: Lanatsa on December 11, 2020, 01:43:30 PM

Quote from: panjul07 on December 11, 2020, 01:01:08 PM

Quote from: cabalism13 on December 11, 2020, 12:50:13 PM

Quote from: Natalim on December 11, 2020, 01:41:38 AM

Quote from: cabalism13 on December 11, 2020, 01:23:45 AM

...

But not all people can have that patience to wait for the best time to get the winnings as it may take several days.
There can be some reasons why they want to get their money asap especially if they need it badly.
The only way to avoid high withdrawal fee is by choosing casino with fixed withdrawal fee or casinos with free withdrawal fee or simply by playing with altcoins with low transaction fee.

Majority wont really be having that kind of long patience when it comes to their withdrawal times on which they would really be rushing up because
neither they would be using up that fund again on playing into other sites or badly needed to be converted into cash.
... its unusual to see or only
a few do have it.

Talking about waiting, I also do have a feeling that you're quite right about that, just like me whenever I get a large amount I always make a withdrawal,... so basically it is only normal for us to do it but I think waiting or paying up this fees would be worth it IMO.
And yeah, only few has it, based on my experience FJ and exbet is one of them.

boyptc

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Quote from: boltz on December 10, 2020, 11:04:56 PM

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

If you look at the $ value of the fee by that time, I agree that fees would be that much if we convert it during that time.

But if you see like 0.00001 - 0.0001 or 10 sats/byte today, it's not that expensive at all. There can be some conditions and changes that shall be applied at that time by most casinos like lowering it or having a based fee just as the same today.

Lanatsa

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Quote from: panjul07 on December 11, 2020, 01:01:08 PM

Quote from: cabalism13 on December 11, 2020, 12:50:13 PM

Quote from: Natalim on December 11, 2020, 01:41:38 AM

Quote from: cabalism13 on December 11, 2020, 01:23:45 AM

...

That's up to a gambler if he is still willing to pay for the high fee, small bettors who can't afford to pay the high fees will certainly shift to altcoins as a payment method, but I still believe that bitcoin as a currency is the most demand in gambling as big bettors does not bother to pay 10 usd as a transaction fee as long as they can gamble.

but speaking of fees, its only for withdrawal and deposits right? Bets doesn't have this I think? (Correct me if I'm wrong)...
So if itslike that then betting with BTC are still fine, they'll just have to wait for the time to get their winnings.

But not all people can have that patience to wait for the best time to get the winnings as it may take several days.
There can be some reasons why they want to get their money asap especially if they need it badly.
The only way to avoid high withdrawal fee is by choosing casino with fixed withdrawal fee or casinos with free withdrawal fee or simply by playing with altcoins with low transaction fee.

Majority wont really be having that kind of long patience when it comes to their withdrawal times on which they would really be rushing up because
neither they would be using up that fund again on playing into other sites or badly needed to be converted into cash.

I don't see on reason on choosing on having a fixed withdrawal fee yet we know that mempool wont really be busy from time to time which means
you would be paying more if the network is just requiring less. Not all would really be offering free fee and its unusual to see or only
a few do have it.

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Quote from: cabalism13 on December 11, 2020, 12:50:13 PM

Quote from: Natalim on December 11, 2020, 01:41:38 AM

Quote from: cabalism13 on December 11, 2020, 01:23:45 AM

...

That's up to a gambler if he is still willing to pay for the high fee, small bettors who can't afford to pay the high fees will certainly shift to altcoins as a payment method, but I still believe that bitcoin as a currency is the most demand in gambling as big bettors does not bother to pay 10 usd as a transaction fee as long as they can gamble.

but speaking of fees, its only for withdrawal and deposits right? Bets doesn't have this I think? (Correct me if I'm wrong)...
So if itslike that then betting with BTC are still fine, they'll just have to wait for the time to get their winnings.

But not all people can have that patience to wait for the best time to get the winnings as it may take several days.
There can be some reasons why they want to get their money asap especially if they need it badly.
The only way to avoid high withdrawal fee is by choosing casino with fixed withdrawal fee or casinos with free withdrawal fee or simply by playing with altcoins with low transaction fee.

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Quote from: Natalim on December 11, 2020, 01:41:38 AM

Quote from: cabalism13 on December 11, 2020, 01:23:45 AM

...

That's up to a gambler if he is still willing to pay for the high fee, small bettors who can't afford to pay the high fees will certainly shift to altcoins as a payment method, but I still believe that bitcoin as a currency is the most demand in gambling as big bettors does not bother to pay 10 usd as a transaction fee as long as they can gamble.

but speaking of fees, its only for withdrawal and deposits right? Bets doesn't have this I think? (Correct me if I'm wrong)...
So if itslike that then betting with BTC are still fine, they'll just have to wait for the time to get their winnings.

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Quote from: cabalism13 on December 11, 2020, 01:23:45 AM

Quote from: boltz on December 10, 2020, 11:04:56 PM

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

If that time comes, I do think that there will be possibilities for adjustments on fees and on how much will be the betting amount for each platform, I simply doubt that Casinos would let this be in this way, besides they can just set it out on sats if BTC reached that kind of value.
Also some other platforms only have BTC as their focus of game currency.

That's up to a gambler if he is still willing to pay for the high fee, small bettors who can't afford to pay the high fees will certainly shift to altcoins as a payment method, but I still believe that bitcoin as a currency is the most demand in gambling as big bettors does not bother to pay 10 usd as a transaction fee as long as they can gamble.

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Quote from: boltz on December 10, 2020, 11:04:56 PM

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

If that time comes, I do think that there will be possibilities for adjustments on fees and on how much will be the betting amount for each platform, I simply doubt that Casinos would let this be in this way, besides they can just set it out on sats if BTC reached that kind of value.
Also some other platforms only have BTC as their focus of game currency.

boltz

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As soon as the Bitcoin goes and the fees remain the same, automatically you will pay extra $ in order to withdraw from the websites but this is only on certain sites. I would advice to switch to another currency because the fees depends from a cryptocurrency to another so find one who accepts TRON or DOGE.

Imagine the fees when Bitcoin will touch 100k$ because in that moment, only rich people will gamble with Bitcoin and it no longer be played by casual players like me or you.

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Quote from: Inkdatar on December 10, 2020, 07:55:46 PM

Quote from: Cling18 on December 09, 2020, 02:48:46 AM

It isn't the price of fees that is increasing but rather the price of Bitcoin which is actually normal. I think the best strategy is just to use altcoins instead of Bitcoin since the price of Bitcoin right now is still high. They're not increasing the rate but it's the value of Bitcoin that is getting highs so we shouldn't blame the gambling sites instead.

This is what I did when cashing out from online casinos is to choose other options to withdraw to lesser the fees. Once bitcoin price is increasing the fees does otherwise we endure this high fee. As others been said it also depends on the amount you will cash out and others opt not to play during this price increase of btc.

But if the fees are fixed, we still pay high fees for withdrawing. If that so, there is nothing we can do except converting from bitcoin to altcoin. We are lucky if the site has an exchange inside the website to convert it directly and withdraw the altcoin into another wallet. If we can win a lot of money, we don't have to withdraw all of the win money, but we can do it more than one time, so we can reduce the fees if the fees are not fixed. I am sure many of us will know what they will do if the bitcoin fees increase, and they will use what they think fits them.

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Quote from: stomachgrowls on December 10, 2020, 03:35:13 PM

We can make use of DOGE and TRX instead if it is available on the site you were playing then that would be a good option if you cant take to pay up high fees with BTC.

The trouble with a Casino offering multiple crypto alts that can be exchanged for other crypto is that the Casino could end up being a dumping ground for lesser value alts then the Casino will have to find an exchange to clear out the alts to balance their books back to fiat/btc etc.

(not to mention some users may not even gamble while preferencing favorable crypto exchange rates on offer by the Casino)

Inkdatar

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Quote from: Cling18 on December 09, 2020, 02:48:46 AM

It isn't the price of fees that is increasing but rather the price of Bitcoin which is actually normal. I think the best strategy is just to use altcoins instead of Bitcoin since the price of Bitcoin right now is still high. They're not increasing the rate but it's the value of Bitcoin that is getting highs so we shouldn't blame the gambling sites instead.

This is what I did when cashing out from online casinos is to choose other options to withdraw to lesser the fees. Once bitcoin price is increasing the fees does otherwise we endure this high fee. As others been said it also depends on the amount you will cash out and others opt not to play during this price increase of btc.

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Quote from: Minus7point5 on December 10, 2020, 05:02:55 PM

I dont pay Withdrawal fees when I gamble with Bitcasino and Sportsbet.

This is something comparable to other gambling site in which Bitcasino and Sportsbet can offer a withdrawal with No fee while others has different variation and also others are taking advantage whenever the Price of Bitcoin increases high.
But of course as gamblers you have no choice but to comply or else don't play on their site.
but good thing is some sites are even there is a fee the Bettors are contented because they offer a deluxe service in which all the queries being addressed ASAP things that every gambler desire to have in their respective favorite casinos.

Quote from: imutlinda on December 10, 2020, 03:48:09 PM

Not every casino will charge a high fee. Depending on the amount and also depending on the payment method. There is still a lot of difference.
A small fee is manageable, but if the amounts are high it can become expensive. At the end it is the call from the casino.

Actually you will not notice that until the funds landed in your wallet,it was indicated in the transaction about the amount but this will not happen when transaction completed.

Topic: Casinos Withdrawal Fees Rise (!?)|| October 2020 - page 5. (Read 6122 times)