-snip-
Yeah. This makes no sense whatsoever. Non bonus withdrawals should have 1x wagering requirement max in order to avoid money laundering which is probably what they meant in this case.
If it's what you mentioned, they would lose a ton of gamblers instantly since such a rule would make no sense whatsoever. Let's see how they respond to this.
Perhaps OP made a small mistake on the example, I'm trying to think positively until OP give a clarification as maybe OP want to say that in order to withdraw, 1x wagering of the deposited amount is required.
The withdrawal terms information also the same as most other casinos, so hopefully it is just about not a clear example only.
Of course they will lose their players if it works like what the example I gave above because it will be like that the casino wont allow players to win.
Galactix team should see what other gambling sites are following the wagering requirements and should make similiar rules for wagering and deposits. If they try to experiment with unrealistic expectations and give tough wagering conditions then gamblers will avoid this site. I hope OP clarifies this and there should be only 1x wagering requirement for the deposits. Yes, if they offer any bonuses etc, then they can charge extra wagering conditions.
Let me clarify this
Let’s say you deposit $100, wager the full $100, and win $900, giving you a total of $1000 in your account. Currently, in such a case, you can withdraw $100 at a time (your withdrawal amount equals your account wager amount).
However, you don’t need to wager an additional $900 to withdraw your winnings. You can make multiple withdrawals of $100 until the full amount is withdrawn.
This policy is in place to comply with AML regulations. It ensures that deposited funds are actively used for gambling rather than being cycled through the platform for other purposes. This approach helps maintain the integrity of our operations while ensuring fair gameplay.
That said, we understand this logic may feel restrictive for some, and we’re already discussing ways to improve it to make withdrawals smoother and more user-friendly.
Thanks for your feedback—it’s incredibly valuable as we continue refining our platform!
I don't know if we are having different deposits options but TRX deposit on my account is still the same $20 minimum deposit just as everyother coin or is there something I am missing?
Maybe you could show me where I am getting it wrong!
What you’re pointing out is correct for deposits with the
Deposit Match Bonus—in that case, the minimum deposit is $20.
However, for TRX deposits
without the bonus, the minimum deposit is $5. I hope this clears up the confusion! Let me know if you have any other questions. 😊
Yup, it's their native token and I haven't read anything about listing it on exchanges. This is a good utility token that shall not go out yet on exchanges because that could disrupt the tokenomics of it. So, think of it as an incentived token for their users and the ones that will buy the token inside their own platform. It has some sort of the same function like the ones who invests on casino bankrolls.
Well i am not very much interested in the gambling site token because they do not have much utility. I understand that the gambling site token will used in the site for gambling but that can be done through other coins too, so why need a particular gambling site coin ?
It's the same with what we do in other services that they offer their own card. It's a form of incentive and that's how they do it. I understand what you're saying that they do not have to do that. But it's like a form of rewards for those loyal customers or investors that believes on them. We see this from every casino nowadays and any services that's growing and wanting to keep their repeat customers and userbase.
Some gambling sites will allow staking of their coins but again these tactics won't work much. I am saying this based on the experiences as we have few other gambling site having their native token but they aren't performing good in terms of price.
I agree.
That's locking the value in it by staking and offering percentage returns. It won't work at all times but every casino has their own right on how to retain their customers and as well as the value that they bring into their business.
GLX isn’t just another token—it’s designed to offer real value and incentives to our players. Unlike other tokens, GLX holders benefit from
daily dividends, allowing them to earn passive income based on the platform’s revenue. It’s not just about gambling; it’s about rewarding loyalty and giving players a stake in the success of the platform.
While we understand that some gambling tokens may not perform well, we’re committed to building utility and sustainability around GLX to ensure it remains beneficial for our users. Dividends, for example, allow players to reap rewards simply by holding the token.
We truly appreciate your feedback and encourage you to explore more about how GLX is integrated into our platform. It’s all about creating value and rewarding those who support Galactix! 🚀