Topic: How do you deal with high transaction fee on BTC on gambling? - page 4. (Read 578 times)

That's definitely a big problem now as alot of peeps can't even redeem Thier transactions, talk more of having some to spare out on casino sites .. everyone's been made to face the effect of thw ATH.

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mempool currently requires 250 - 340 sat/vbyte as their fair rate for fast confirmations... It's better you just stick to some new adjustable rules of not wagering for now, until the 300-day countdown is over.. 

This should not stop you from gambling, I think there are other ways you can gamble without relying on bitcoin only and concerning your signature, I think you can use an exchange to receive your weekly payment for the time been and wait until the network is settle. Once the payments are sent out, instead of its going into your personal wallet, it will go to am exchange and then convert it to any other coin of your choice and then use it to fund casino or any betting platform that you like.


The fees you will pay to comfirm a transaction on bitcoin network is large enough to give you one or two wager. Why not try another coin they supports like USDT and then when you deposit it and played the game of your choice, you can convert them in the casino back to BTC. Most casinos has this I believe and you can then withdraw it out to external wallet.

Tron+Doge

On times like these or even in the past on which if Bitcoins fees are already on the roof and i do really feel like to play gambling then these are the coins on which i do really consider out to play on.
Cheap fees on which it is really just that close to nothing, not also about talking about the fees but also you could really be that versatile with your bets. Why? We know that these coins are
cheap and which means that the number of coins that you are holding is really that huge in numbers on which it does really give out that chance that you could really be able to enjoy the game
because you do have a bigger balance in terms of token numbers on which it would really be that adding on the time spent when you do gamble.

It do really sucks when we are experiencing high fees specially if you are a Bitcoin user or enthusiast on which you do really love on making use of Bitcoin
alone but well we do have different conditions and scenarios that could happen in the network which it would really be resulting into this.

I no longer use Bitcoin for deposits on gambling sites due to high transaction fees and long network confirmations, I prefer to use Tron. As I write this comment, the transaction fee on the mempool is about $6, which is a lot considering I only deposited about $20 or $30. Even though the increase in transaction fees on Bitcoin is only temporary, using Tron is more logical for me because the transaction fees are very cheap.

I have no experience playing on gambling sites that credit balances when Bitcoins have not been confirmed by the network. Usually the balance will be credited when my bitcoin deposit has received at least 1 network confirmation.

Personally I don't even count this as a problem for me became what I do is just to find an alternative deposit coins which is less cost and USDT is my preferred choice even before Bitcoin when it comes to online gambling because of the volatility that surrounds Bitcoin so choosing a coin that will give you less issue is probably the best way of tackling this issue head on and I also believe that the BTC deposit option is actually quite limited to many çasino too .

Same problem, I just stop withdrawing from my wallet as the fees are so high to deal with for the small time gambler, I think its better to use other altcoins to gamble like Doge and LTC for a cheaper price or you can also use USDT to avoid paying higher fees. Some casinos though are allowing to credit the fund faster even if the block is still processing, better to check this on the casinos you are using.

The issue of Bitcoin fees is always a dilemma for Bitcoin users, especially those who actively use it for gambling, but if your betting capital is large, it shouldn't be a problem for you to pay a fee of up to $10.  Just think about it, if you swap your bitcoin for altcoins then you will only bet with those altcoins, unless the online gambling site where you gamble has an exchange feature in it too.  betting using bitcoin capital is much more profitable than just betting with altcoins.

The fees do not always remain high, so you can wait for the window of opportunity where the fees are low and affordable, then take that time to fund your gambling account well instead of funding your account with small amounts occasionally and paying fees for each transaction. Funding your account once with a huge amount that you have set for gambling can help you manage your money for gambling better for that month because you should be able to plan better. If you can also cannot fund your account due to the high unaffordable fees, you can still rest.

Kinda annoying for a small fish like me, today need $18 to send the BTC into the exchange then swap it with other coin.
In total I might lost $21 because of the fees before I place any bet and if I deposit with BTC the withdrawal fees will be another burden.
So, better not to gamble for a while if the deposit is less than $300.

It is a big problem right now,if you want to confirm fast your deposit you should use a high fee which whenever we have such spikes in price of Bitcoin usually a lot of people are transacting and you have to pay the fee.There is no way around this unless you have some other altcoins which you can use super fast cheap fees on Litecoin network for example.Personally most of the deposits in the casino I make in Litecoin as I am mining it and this is a great way to not feel the pain of having to pay high transaction fees when you are depositing Bitcoin to the casino.If Bitcoin is your only option then you can opt to pay a lower fee and wait some time longer before it is credited to your account.

Best thing ever and I can confirm this as recently as last week -- it's been this way for as long as I remember, and even throughout the nasty May period of congestion (try 400+ sats/byte fee).

Anyone else idiotic like me and gamble for your fees? I still don't think I pay too much for fees from my wallet (I like keeping it lean) but on casinos where you pay for high priority fees like crypto-games (CG), I like gambling a little to cover my fees. Has it ever led to a wipeout? Yes haha


Been using BTC since 2016, it's gotten its shit together for a long time. But yeah, I do get what you mean, really, depositing 10 mbtc and paying about 7% (as of right now) for next-block confirms isn't cool but I usually don't go for rush deposits and I play sports mainly. Pay a quarter of the suggested fee, it'll confirm in time for your bet to settle. 0 confirmations doesn't care. If you win big and want to withdraw, RBF it.

using bitcoin in gambling becomes advantageous when bitcoin is in the bear market and the player also has enough skills to be able to win to the point of increasing his banking value, this is because when the bull market arrives that money that is in the player's account becomes much larger when the player converts bitcoin to fiat. Now, if the person is not watching the market and just keeps playing with bitcoin or some altcoin, then that person will run the risk of seeing their bankroll value reduced due to the drop in the price of bitcoin or altcoin. As for this fee issue, I don't see it as being a big increase like it was 4 or 5 years ago

but I believe that for players who have a small bankroll, something like 10$ in bitcoin to play, it is difficult to deposit 10$ in bitcoin in the casino and manage to win and keep 20$ in bitcoin, but at the time of withdrawal they have to be deducted. 7$ for network fee, this would mean that the player only made a profit of 3$. I don't think it's advantageous, but for people who play with more than $100, there's no problem paying these fees. players with small bankrolls should use altcoins with low fees, I like to use litecoin for my bets because the fees and withdrawal value are very low, so it makes it much easier for me

With the current fees, then yes it would really be that much a big or huge issue into those gamblers who are really that only having a few hundreds or few bucks for them to play on which the current fee as of  this moment
is really that playing around almost $20 bucks and this is something that not everyone could really afford or willing to pay for on just transferring your Bitcoin from your own wallet to a gambling site.
But if you do have tons of Bitcoin then it wont really be an issue yet these fees are just dust but for those who arent then it would really be giving that kind of pain when making transfers. 

On the question, if there were gambling sites does have that zero confirmation? I dont think that they do exist nowadays. We do know that they would be at least needing to have 1 confirmation before it would credit out.
We do know that they are aware about double spending thing on which they cant really just that afford on making instant deposit on having the risks of double spending and this is why
i dont see any sites that do offer this one.

Why should you use bitcoin for gambling?
You can save up the BTC you get from a subscription campaign for a few weeks or even months and then withdraw it in one transaction. At the same time, for gambling, use your money, which can be quickly converted to one of the cryptocurrencies that don't have such high network fees and transactions are confirmed e as long as it takes on the BTC network.  

I would probably not gamble with Bitcoin. The transaction fees can be avoided by choosing a coin with a blockchain that has cheap transaction fees and which is supported by your casino of choice (as they usually are). I gamble with small amounts so it matters more. Anyone who does not care about the transaction fee usually has gigantic fortunes to gamble away. So the choice between which coin does not matter much to them in the first place.

Or just ask the signature manager to deposit directly into your casino wallet? That way there is no need for paying fees on your end.



 

No casino will ever allow that, and that will be a risky thing for any casino to do because people will take advantage of that situation in real time, and secondly, casinos are making use of every deposit, moving it down to their cold wallet. At least that's what most centralised systems do, so they can't move an unconfirmed transaction to a safe place.
 
Another thing is that someone who makes such a deposit and is allowed to play a game could also be like someone who walks into a casino to make a bet on credit because the money is not yet in the casino's hands, and if the gambler ends up losing on all his games, that will stop the person from cancelling the transaction, as that could easily be done when the transaction has not undergone at least one confirmation.
 
I don't think there is any casino taking such a risk out there; all they can do is provide other deposit options to make things easier for their customers, if they don't already have one available. I mean, those BTC-only deposit casinos.

This is the solution to the problem. Used other cryptocurrencies that is accepted by the casinos. As a gambler you have to think like a business person which is to keep your expenses very low. It makes no sense to spend more on transaction fee if there are cheaper alternatives. You can learn how to use other cryptocurrencies like Ethereum and Litecoin, and also USDT mentioned above.

Bet smartly.

I think for segwit addresses it wasn't that high, I think it's more high using Ethereum and that thing sucks compare to the former. I think if you can trade-off on selling your bitcoin to some altcoins that have lower transaction fees that are supported by your casino, then, I suggest you go with that path.

I have not used a casino that has lightning network. If many casinos can adopt it, it would be good. I will not have to use altcoin for gambling in time like this anymore.

You can see some gambling sites that support lightning network: https://cryptogambling.com/casinos/lightning-network

Rollbit and BC.game are recommended.

Are there all gambling platform supported with btc deposit trough Segwit address? right now bitcoin is not best option for depositing to gambling or casino account high transaction and delay more than one until two hours. Need prepare for long time before depositing bitcoin fund in gambling platform with usually credit without few minutes but right now have waiting more than two hours.
Usually I used fiat for depositing in gambling platform account and run smooth without waiting longer than bitcoin, but I want to try with my signature payment on the weekend will get faster block confirmation and credit without delay in gambling casino?