Gambling payments fees | Bitcointalksearch.org

magneto

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

As we all knew the crypto bull run is her with bitcoin leading at a price of between $56k to $57k and transactions fees at a very high price most especially the ethereum gas fees skyrocketing. How are gambling platforms receiving this have there been a change in their withdrawal fees inline with the current high fees. I believe some casinos gambling platforms like bustadice still charge same fees in bits.

Let me know if there is any that have increased their transaction fees.

A lot of casinos these days have adjustable fees. E.g. Roobet. They're actually the ones to avoid if transaction fees continue to increase and the mempool is super clogged, since they would actually follow market fees.

Stake and other sites with stagnant fees is great for now, but when fees decrease again they'll probably be less competitive.

Around 10k sats flat seems to be the lowest that you'll get for now, though, and that is already subsidised heavily by the casinos. Unfortunately that is the price to pay to gamble anonymously with crypto these days. Another reason why you should consolidate your inputs when fees are low.

pixie85

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Quote from: ralle14 on February 20, 2021, 03:39:27 PM

I haven't seen any fee changes recently except for stake and I feel like most gambling sites have no plans in changing the fees since they've been charging high fees for quite some time now.

I suggest checking this thread out once in a while as the OP usually compiles the bitcoin withdrawal fee situation between several sites and updates them whenever there's a change.

Some sites adjust fees dynamically depending on the network. I know that Yolodice does it. Fees can change more than once a day and sometimes can be as high as $20.

Some casinos treat this bubble as temporary and haven't really adjusted anything but a 3x rise over the course of 2 months call for some adjustments.

maxreish

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As coins are moving up, too. Gambling sites are increasing their fees but also decreasing their minimum withdrawals. I have been playing in a particular gambling site wherein mini wd of ETH is .02, and the wd fee is .005. While other coins such as trx, dogecoin and xrp still has a lowest fees until now.

If they wouldn't adjust the fees, the transactions will gonna be slow and confirmations will not be prioritized by the miners.

hulla

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The transaction network congestion happening in Bitcoin and Ethereum is something everybody within the gambling community is aware which automatically give gambling site the chance to increase their withdraw fee although gamblers are allowed to choose their withdraw priority level maybe the fund should send (fast, medium or low) but 0.0001BTC/kb which is currently $5 should be enough to get a transaction to confirm in the next 6-7 blocks.

TimeTeller

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Quote from: dunfida on February 20, 2021, 05:48:45 PM

Quote from: Sanitough on February 20, 2021, 05:26:10 PM

The market is in bull run, all we have to do is just to adjust.

This should how people do with the current situation on where we do need to adjust in times like these were fees are on the roof.

Some wont really bothering on paying up those big fees but majority of gamblers just cant afford on paying up several bucks for their transactions.
There are better alternatives on which you can choose on without any hiccups or problems.

Casinos need to adjust as it will affect their revenue if not handled properly.
So as a player, we need to understand their situation as well.
If you are worried about the fees, then play on sites with internal exchange so you can convert it to your preferred coin.
But right now, bitcoin is enjoying high price in the market, and so the fees involved is also affected.

dunfida

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Quote from: Sanitough on February 20, 2021, 05:26:10 PM

The market is in bull run, all we have to do is just to adjust.

This should how people do with the current situation on where we do need to adjust in times like these were fees are on the roof.

Some wont really bothering on paying up those big fees but majority of gamblers just cant afford on paying up several bucks for their transactions.
There are better alternatives on which you can choose on without any hiccups or problems.

AliMan

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

As we all knew the crypto bull run is her with bitcoin leading at a price of between $56k to $57k and transactions fees at a very high price most especially the ethereum gas fees skyrocketing. How are gambling platforms receiving this have there been a change in their withdrawal fees inline with the current high fees. I believe some casinos gambling platforms like bustadice still charge same fees in bits.

Let me know if there is any that have increased their transaction fees.

Most of the sites have increased their fees, but don't be intimidated with this news because you still have bigger winning amount as to compared with the fees. Every transactions done on each gambling site is very important for them, that's their ways to earn in order to sustain with the operation. Business overhead will always count on, and I guess blockchain transaction fee will always be shouldered by every gambler and not by the administration of an online gambling.

2double0

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Yes, the gambling websites are still charging the high fees but that is because they want to lead our transaction towards quick confirmations. For this problem, most gamblers have now shifted to cheap crypto like trx and ltc which costs very less fee compared to btc and eth withdrawals on these gambling sites, in fact, these times are when these low price and low fee coins can be utilized to their best advantage.

Russlenat

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I think $1 to 5$ transaction fee equivalent is still acceptable in my part, I'm just an ordinary gambler who risk less than $1000 in gambling so I can accept that fee only. There are sites that charges high fees, some charget 0.0005 btc and it's high based on the current price, however, with more sites adding more payment options ,altcoins with cheap fees are always the best to use, just learn to explore and you'll find the site that you are comfortable with the fees.

Ryker1

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Well, as I know most gambling platforms have their own system of having fees. It will always be up to date and have changed according to the market price. But it does not a problem here, you can choose altcoins that have low fees if bitcoin has a higher fee. I don't know how FortuneJack manages the free withdrawal fee but it seems this is a way of promotion that can lure gamblers to visit the site because of zero fees. In the gambling business industry, most owners are charging fees to the user if they will cashing out their asset from the site.

Sanitough

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Gambling sites that only accept coins like Bitcoin and ETH will have to charge a high transaction fee as the network itself charge that high. I guess it's time for us gamblers to find a site that accepts different alternatives, like Doge for instance, we just have to pay a small amount for our transaction, it will confirm fast so we can still gamble without a problem.

The market is in bull run, all we have to do is just to adjust.

CarnagexD

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Most well-established platforms of gambling nowadays are armed with features that allow multicryptocurrency transactions, so gambling wouldn't be exclusive to bitcoin and eth holders. So it's not like the bull run affected their business negatively. It was actually the other way around upon my careful observation, where gamblers seemed to increase in number since the bull run.

Quote from: ralle14 on February 20, 2021, 03:39:27 PM

I haven't seen any fee changes recently except for stake and I feel like most gambling sites have no plans in changing the fees since they've been charging high fees for quite some time now.

I suggest checking this thread out once in a while as the OP usually compiles the bitcoin withdrawal fee situation between several sites and updates them whenever there's a change.

Staking will definitely be affected as it requires continuous transactions which can take a toll on the system.

AmoreJaz

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Quote from: ralle14 on February 20, 2021, 03:39:27 PM

I haven't seen any fee changes recently except for stake and I feel like most gambling sites have no plans in changing the fees since they've been charging high fees for quite some time now.

I suggest checking this thread out once in a while as the OP usually compiles the bitcoin withdrawal fee situation between several sites and updates them whenever there's a change.

yes, that thread is good to follow. the last update was last month. stake's withdrawal fee was still 10k. but even if the stake increased to 20k, what i experienced was when i withdrew, they paid more than 20k in my tx and it was fast. actually a lot of casinos are charging more than 20k , the common is 30k sats.
anyway, if you are conscious with withdrawal fees, play on casinos that have internal exchange. so you can exchange your btc to other alts with minimal fees. i made a list of gambling sites with internal exchange before but need to update this.

ralle14

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I haven't seen any fee changes recently except for stake and I feel like most gambling sites have no plans in changing the fees since they've been charging high fees for quite some time now.

I suggest checking this thread out once in a while as the OP usually compiles the bitcoin withdrawal fee situation between several sites and updates them whenever there's a change.

shield132

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

As we all knew the crypto bull run is her with bitcoin leading at a price of between $56k to $57k and transactions fees at a very high price most especially the ethereum gas fees skyrocketing. How are gambling platforms receiving this have there been a change in their withdrawal fees inline with the current high fees. I believe some casinos gambling platforms like bustadice still charge same fees in bits.

Let me know if there is any that have increased their transaction fees.

How can we say that? There are a lot of casinos, you can ask their customer supports for more detailed information but I'd give you some examples:
1. Stake and probably PD manually set transaction fees according to network. This fee changes frequently, if I am correct, it changes every day.
2. Bitsler has the same fees they had, except instead of 3 option, they left two: Low (slow) and High (fast) transactions with fees: 0.0003btc and 0.0006 btc.
3. Freebitco has 0.00004278 BTC fee at the moment on slow withdrawal.
4. FortuneJack offers free withdrawal, they cover the fees but as far as I know, they ask you to at least 2x wager the deposited amount.

Mahanton

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Dont have any problem with fees because the gambling site ive been playing does have lots of coins for you to choose from.

-TRX-DOGE-LTC-DASH

This is the only way for you to avoid paying up high fees specially now that Bitcoin and ETH does really have that kind of problem.
If you arent confident on using other coins then better refrain on playing gambling for now.

ReiMomo

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We will I guess predicting here because that is a very technical question which is only the gambling owner knows more than us as a gambler.
I guess, they had a system that automatically adjusts when every time the transaction fee varies on the price. In your examples like bustadice and they used a bit which is 1 bit is equal to 10 sats (correct me if I'm wrong). Upon withdrawal, it will automatically be deducted as required fees.

I had also a question in my mind, those gambling sites that have offer free withdrawal does still exist? If yes, how they can manage the huge fees?

Quidat

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

As we all knew the crypto bull run is her with bitcoin leading at a price of between $56k to $57k and transactions fees at a very high price most especially the ethereum gas fees skyrocketing. How are gambling platforms receiving this have there been a change in their withdrawal fees inline with the current high fees. I believe some casinos gambling platforms like bustadice still charge same fees in bits.

Let me know if there is any that have increased their transaction fees.

Most of gambling sites does have dynamic fees which means it will definitely be depending on the market condition on how much fees is the average for you
to pay up and some does have fix but its not a usual thing you can see in most gambling sites today.Therefore you would really need to pay up the
fees but there are some which does have option for you to increase or decrease up the fees.So it will really vary or depending on you.
Fees are indeed high at the moment and its almost $10 average on this network current condition.This is why making use of alts is a good option to take.

Becky666

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

Let me know if there is any that have increased their transaction fees.

We might not going to see what your minds tell you becasue these gambling platforms around this industry have learned how the system do run whenever there's a bull-run. Those gambling platforms i did be using are such that uses the altcoins for transactions and therefore have no problem with the highs in bitcoin fees. Because of these platform clamoring for more gamblers to join in their platform won't allow them make such pronouncement, their fees won't change even though the price of bitcoin hit $100k IMO.

fiulpro

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Quote from: BIN-BIN on February 20, 2021, 11:57:49 AM

As we all knew the crypto bull run is her with bitcoin leading at a price of between $56k to $57k and transactions fees at a very high price most especially the ethereum gas fees skyrocketing. How are gambling platforms receiving this have there been a change in their withdrawal fees inline with the current high fees. I believe some casinos gambling platforms like bustadice still charge same fees in bits.

Let me know if there is any that have increased their transaction fees.

Hi
In many platforms you would find that there are options available , for me when I was talking out my money from Roobet I used the low fee option since the price was ofc high but what's good was that the money came within a couple of minutes , I do think that they are coupling up their transactions and also at the same time the users are getting benefited from that. Rest I do think that you understand the fact that the fee depends on the price for sure but at the same time the platforms might adjust it if they see it increasing drastically. They don't want to loose their users ofc.
The fee is just increasing because of the increase in the overall price of cryptos and I do think that it is normal and would be taken care of soon..
But many platforms have some favourable options available therefore you can try and check them out. For me it's always good if I can choose my transaction speed and me fee.

Topic: Gambling payments fees (Read 169 times)