Minimum deposit and minimum withdrawal.

Fredomago

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Quote from: Hispo on January 19, 2023, 04:22:18 PM

Quote from: seoincorporation on January 19, 2023, 03:08:40 PM

Quote from: TopTort777 on January 19, 2023, 06:53:12 AM

-snip-

I don't think that's a bad move, making the users deposit is a good way to avoid abusers, if the casino offers free money without asking any depo there are a lot of smart guys who will open a lot of accounts and start farming the site. I have seen that happening a lot of times in the past and didn't have a happy end for the casinos'.

Correct, bonus abusers will find a way to get free money out the casino and prompting the administration of the service to lock accounts, halt withdrawals, massively ask for KYC. etc.
It could even devolve into a case which affects people who did not even claim bonuses or even worse the closure of the casino.
Casinos are businesses and no business benefits from giving money away. So it is fair there are some requirements to claim those bonuses or take advantage of them.

There's no businessowners on their right minds would really be giving out something into public or into the players for completely free without getting some benefits way back because its never been worth on doing so.
They are running a business and not a charity which it would be understandable that they would really be putting up some terms and conditions before you could make yourself able to pull off some withdrawal or not but most of the time due to the requirement then it wont really be something simple or easy for you to do so, and this is why lots of people are really not that interested to deal off with bonuses.
Completely free money do sounds unrealistic which pertains or do talks about having no terms and can be simple pull it out, it cant just happen.

Not a charity but a business that will work for them if ever they will find the right way to market the business, I see your point and it's true casino owners will not just give you that promise bonuses without doing anything, it's their way to attract new users and they will do everything to allure people to use the platforms, it will serve as give and take, they will let you use the bonuses and try some luck, in hope that once a gambler enjoy the game, they will come back and deposit more funds.

A marketing strategy that always has corresponding benefits for the business, else, they will just give money for nothing and it's not the goal of each bonus but to make it as a working tool to bring more users around the house.

Lanatsa

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Quote from: Queentoshi on November 02, 2022, 05:24:35 PM

Someone with a strict budget of gambling with $10, decides to start online gambling after been told by a friend, but on signing up discovers that the minimum deposit accepted is above the amount budgetted for gambling. Does high minimum deposit fees from online casino discourage gamblers who want to stick to a budget and influences them to gamble with bigger amounts? If yes, and that perhaps is a reason behind many other online casinos keeping their minimum deposits as low as $1, Could low minimum deposit be an encouragement for people to come gamble regardless of the money they have to gamble? Does minimum withdrawal encourage players to try again and keep gambling if they don't win up to the minimum withdrawal?

It depends on their approach because there are ones who could easily make out some adjustment if ever they wouldnt be able to make a deposit below on what a site do have in speaking with their minimum

deposit or withdrawal, but most of them arent really that far off.If they would really be just tending to deposit $1 then it wont be that worth.Why? thinking up with the network fees alone which
it wont really be that sufficient nor enough for you to have something left for you to gamble.So most platforms wont really be wasting up their time on allowing $1 deposits
due to some factors which i should say that it is really just right.

BitcoinAccepted

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Players often do not think about a minimum deposit. I think that most serious gamblers immediately deposit an amount that is well over. More interesting and important are the payouts and then the limits especially for the maximum. Minimal is also not really interesting, because many gambling sites have few conditions anyway. I also don't think a player would cash out a $2 payout quickly. But of course every gambling site has its own policy on this. There are also gambling sites that have no policy at all. Maximum payouts are often written in the rules, but there is also such a thing as maximum winnings that scam sites work with so that they can withdraw the winnings from a player's account.

Hispo

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Quote from: seoincorporation on January 19, 2023, 03:08:40 PM

Quote from: TopTort777 on January 19, 2023, 06:53:12 AM

-snip-

I don't think that's a bad move, making the users deposit is a good way to avoid abusers, if the casino offers free money without asking any depo there are a lot of smart guys who will open a lot of accounts and start farming the site. I have seen that happening a lot of times in the past and didn't have a happy end for the casinos'.

Correct, bonus abusers will find a way to get free money out the casino and prompting the administration of the service to lock accounts, halt withdrawals, massively ask for KYC. etc.
It could even devolve into a case which affects people who did not even claim bonuses or even worse the closure of the casino.
Casinos are businesses and no business benefits from giving money away. So it is fair there are some requirements to claim those bonuses or take advantage of them.

capedbaldy

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Quote from: seoincorporation on January 19, 2023, 03:08:40 PM

I don't think that's a bad move, making the users deposit is a good way to avoid abusers, if the casino offers free money without asking any depo there are a lot of smart guys who will open a lot of accounts and start farming the site. I have seen that happening a lot of times in the past and didn't have a happy end for the casinos'.

Many casinos have improved account tracking of bad users who farmed accounts to get bonuses from promotions, the problem of farming accounts has been solved and another way that many casinos have asked for KYC as another way to prevent farming accounts. But many gamblers expect lower withdrawal minimums so that low fund gamblers can withdraw their funds after a few small wins.

seoincorporation

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Quote from: TopTort777 on January 19, 2023, 06:53:12 AM

There is always another vision - the idea of promotion could be following: user should add a bit of his own funds to withdraw promotional bonus. Such thing might also play bad, as forcing user do something, extra steps, never helps business.

I don't think that's a bad move, making the users deposit is a good way to avoid abusers, if the casino offers free money without asking any depo there are a lot of smart guys who will open a lot of accounts and start farming the site. I have seen that happening a lot of times in the past and didn't have a happy end for the casinos'.

coolcoinz

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Quote from: Lida93 on January 18, 2023, 04:51:42 PM

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

There are other explanations, for instance they want people to avoid spamming their wallet with micro transactions. Such transactions would then be considered lost according to their TOS, making the spammer lose all the money. In particular a competing casinos, especially when both are relatively small, might want to do this to later have grounds to send them tickets about dust transactions not being visible on their accounts or not being processed fast enough. There's many ways in which you can make people's lives more miserable, so I understand the need to establish minimum deposits. They don't have to be big, in most cases just $5 is enough to discourage spam and it doesn't affect the players.

erep

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Quote from: armanda90 on January 19, 2023, 01:22:12 PM

There are speculation after winning with small fund deposit have make several time wager push up fund reach minimum for withdrawing but lately they loss and the gambling platform owner get benefic with this rule.

I assume that is the reason every casino does limit minimum deposit and specifies limits for withdrawal, low deposit only for few bets and average gambler will spend those funds to increase bet after losing many times in each game, so casino owner will greatly benefit from deposit low because it is impossible from a low bet to recover losses, so gamblers will deposit again the next day because they have limited funds for daily gambling. but if you enjoy gambling for entertainment then don't care about withdrawals because they want to play gambling during their free time and don't expect withdrawals even when the balance has reached the limit for submitting withdrawals.

armanda90

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Quote from: Shamm on January 19, 2023, 01:05:42 PM

Yes you are right that mate both the gamblers and the owner of the casino can benefits this kind of less deposit value as we all know there are many people who want to play gambling but they have small extra money to play with so the logic here is that the owner of the casino chasing that kind of gamblers who can help his casino more popular and there's a chance to have many players. Because that gambler know the minimum deposit then he will tell his friends to try that casino and play together.

Have unique with gambling platform about amount deposit and withdrawing to make gambler interested try their lucky there, almost all gambling platform not having minimum required for deposit fund but they have limit for withdrawing fund there. Become benefit for the owner or casino gambling because when gambler reached profit they have maximum wager to earn minimum fund wihdrawing.

There are speculation after winning with small fund deposit have make several time wager push up fund reach minimum for withdrawing but lately they loss and the gambling platform owner get benefic with this rule.

Shamm

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Quote from: BobK71 on January 19, 2023, 12:50:02 PM

Now the competition of the gambling company has increased a lot. A decade ago, I saw the restriction on gambling, where the minimum deposit and with draw were more comparable to this time. However, at present some gambling platform has become flexible in this condition. I think both sides are benefiting in this case. A gambler who have not enough money or less he gets the opportunity to play with a little deposit, while the owners of the gambling company are also benefiting. If a gambler wants to break from the gamble, he can return to gambling again with a little money. I think it is a advantage of the gambling company.

Yes you are right that mate both the gamblers and the owner of the casino can benefits this kind of less deposit value as we all know there are many people who want to play gambling but they have small extra money to play with so the logic here is that the owner of the casino chasing that kind of gamblers who can help his casino more popular and there's a chance to have many players. Because that gambler know the minimum deposit then he will tell his friends to try that casino and play together.

BobK71

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Now the competition of the gambling company has increased a lot. A decade ago, I saw the restriction on gambling, where the minimum deposit and with draw were more comparable to this time. However, at present some gambling platform has become flexible in this condition. I think both sides are benefiting in this case. A gambler who have not enough money or less he gets the opportunity to play with a little deposit, while the owners of the gambling company are also benefiting. If a gambler wants to break from the gamble, he can return to gambling again with a little money. I think it is a advantage of the gambling company.

noormcs5

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Quote from: maydna on January 19, 2023, 12:18:48 PM

Quote from: Lida93 on January 18, 2023, 04:51:42 PM

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

It could be, but we have seen many gambling companies with a minimum deposit that we must follow. These minimum deposit amounts are affordable for small gamblers so they can deposit their funds and start playing. And I think there are new companies that charge a minimum amount to attract more gamblers and not make it a burden to people who want to try gambling on their site. And it's unlikely they will change the minimum deposit amount as their members are comfortable doing so. If the casino changes it, they will get a lot of complaints from their members because they already get the fun and comfort of playing gambling in their casino. This is what casinos should be aware of before they change their rules.

The gambling houses usually put a minimum deposit on the site as they do not want people to deposit very little amount like 10 or 20 satoshi etc. However i agree if the motive of the gambling site is to prevent very small deposits on the site but the minimal deposit should not be a big amount like 30$ or 50$.
If the minimum deposit is more, it will discourage deposit for not only gamblers who have less money but also the gamblers who want to try the particular site for the first time, they will hesitate to play at those gambling sites.

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Quote from: Lida93 on January 18, 2023, 04:51:42 PM

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

It could be, but we have seen many gambling companies with a minimum deposit that we must follow. These minimum deposit amounts are affordable for small gamblers so they can deposit their funds and start playing. And I think there are new companies that charge a minimum amount to attract more gamblers and not make it a burden to people who want to try gambling on their site. And it's unlikely they will change the minimum deposit amount as their members are comfortable doing so. If the casino changes it, they will get a lot of complaints from their members because they already get the fun and comfort of playing gambling in their casino. This is what casinos should be aware of before they change their rules.

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Quote from: Crypt0Gore on January 19, 2023, 09:41:21 AM

It makes no sense to implement minimum deposit if you are running a crypto gambling or casino platform, this is a big turn off for me because I take risks with very little amount that won't hurt even if I lose it, till this day I still hate Binance exchange for forcing me to have at least 10$ worth of coin or token before you can trade on the platform.

I guess still ideal to have in favor with the maximum bet but of course in depends on your tier like they can identify if you are a really a whale gambler or not but at the end of the day its in favour of the gambling casino with that large amount of deposits and withdrawals, another thing is some of the slot games offering a low amount of wages so you can drain your wallet whenever you want most likely only those in the table games have the base of 5-10$ minimum wage.

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Quote from: Lida93 on January 18, 2023, 04:51:42 PM

For any gambling company to mark out a minimum amount for deposit then that means they must have already made a name, more like gotten a popular brand in the market with a wide patronage too. No gambling company would want to put up a minimum amount that would look discouraging to new customers when they are just starting business and need high patronage, not until they must have gotten the level of customers they had wanted then some rules would now start changing so to condition their customers, maybe to mitigate unnecessary in and out influx.

What I am more familiar with was Maximum deposit or amount you can use to make bet but taking a long on gambling platform that do restrict a particular amount which a gambler can use to gamble is not a good business techniques. Good and ambitious gambling platform would put the minimum amount to the lowest so that it will be flexible for gamblers to bet at a range that is more convenient for them withiut otherwise. Every gamblers know what they can afford even with the minimum amount gamblers are expected to use and bet.

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It makes no sense to implement minimum deposit if you are running a crypto gambling or casino platform, this is a big turn off for me because I take risks with very little amount that won't hurt even if I lose it, till this day I still hate Binance exchange for forcing me to have at least 10$ worth of coin or token before you can trade on the platform.

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Quote from: QueenVera on January 18, 2023, 02:03:17 AM

Just from your illustration, one needs not to be told that minimum deposit and withdrawal have a very great role to play especially for new casinos who are trying to stay relevant in the industry.
Your illustration also stated that, the player was a newbie on that very casino and has a budget and I guess his budge was because he first wanted to test how good the casino would be when it comes to deposit and withdrawal and these are the first two things I have to think of before hopping into a gambling site because I wouldn't want a situation where it seems I got lured into the site with minimum deposit and when it gets to withdrawal, it then becomes very difficult to withdraw.
Minimum deposit and withdrawal has a great role to play in online casinos.

Indeed but I think many of them still underestimate it but they instead focus on other things which they think more beneficial for their success. They will come to a point where they still fail and they still haven't figured out that the problem maybe because of their minimum deposit and withdrawals.

Testing the site first is important so that we will avoid getting screwed in case there are some bugs and glitches but there is no way we will deposit big amounts only for this purpose because what if the casino is a scam? They can offer faucets and free credits but there are other requirements that can come along with them. The feeling is still different if we deposit using our own money.

TopTort777

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When speaking about minimum withdrawal, dont forget about gambling platforms future promotions. When casinos run promotion programs, they dont give huge bonuses for easy tasks. If a player receives several bucks as a promotional bonus, and minimum withdrawal is 20, first thing he think about is how greedy and cheating that platforms is. Most likely he will never return there again.

There is always another vision - the idea of promotion could be following: user should add a bit of his own funds to withdraw promotional bonus. Such thing might also play bad, as forcing user do something, extra steps, never helps business.

rodskee

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Quote from: AmoreJaz on January 18, 2023, 07:58:21 PM

Quote from: harizen on January 18, 2023, 07:38:30 PM

Quote from: Fortify on January 18, 2023, 04:30:10 PM

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

most crypto casinos that i've seen here has about $5 of min deposit, otherwise, check the ToS of the site and look for the min deposit/withdrawal section. because if you happen to deposit below their min deposit, it won't be credited or worse they will just collect the money.

but considering that idea isn't that bad at all I believe because the casino owners targeted bettors of all kind and not those who can afford they set deposit amount and besides there are many casino that also offers that low so maybe considering isn't that bad at all?
but year it is their business and its their way how to handle it.

goinmerry

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Quote from: AmoreJaz on January 18, 2023, 07:58:21 PM

Quote from: harizen on January 18, 2023, 07:38:30 PM

Quote from: Fortify on January 18, 2023, 04:30:10 PM

So if a casino accepts lower amounts they might see more gamblers from different countries who have less to spend and accrue more earnings that way.

Most casinos I believed do have a lower minimum deposit amount and users should have no problem dealing with it.

The question is, what range of amount is considered as a low amount? $5? $2? $1?

If these people will just deposit that kind of amount, better just try their luck, not on online casinos. The casino shouldn't adjust for anything regarding the minimum deposit amount if the set amount is kind of fair already. Again, as far as local fiat casinos are concerned, especially here, the average minimum deposit amount I'm seeing is around $3 to $4.

most crypto casinos that i've seen here has about $5 of min deposit, otherwise, check the ToS of the site and look for the min deposit/withdrawal section. because if you happen to deposit below their min deposit, it won't be credited or worse they will just collect the money.

Therefore, users have to deal with the minimum deposit set by the site and don't ask for a much lower amount.

They are the ones who need to adjust if they really want to gamble with that small amount.

Actually, it's not the minimum deposit amount they should be worried about but to expect some casino games to allow lower bet amounts.

Topic: Minimum deposit and minimum withdrawal. (Read 1633 times)