Stake charging $3.09 on a $1.69 withdraw - page 5.

rhomelmabini

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No God or Kings, only BITCOIN.

Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

So my question remains what did Stake do with the remaining $1.40 Huh

It is a big amount to go missing especially when some Sportsbooks don't charge anything.

I think it doesn't concern every customer anymore on what they did on that charge of fee. I think it isn't that huge compare to what we've experienced in the past when Bitcoin is getting too volatile. If it concerns you that much there are other sportsbooks you can try that doesn't charge or use another mode of transfer like others using layer 2 solution or other chains like Solana (I don't know if there are much information regarding sites that using Solana chain).

naim027

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Well, I don't think it's way too much when it comes to Bitcoin. Sometimes Bitcoin charges more fees than regular. The stake is on the market to do business and this is the part of the business. Not only Stake but also a few more casino charges that kind of amount and it is standard. They have mentioned this-

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Your withdrawal will have 0.00007000 subtracted from your remaining balance to cover the fee required to process the transaction.

That's mean the 0.00007000 BTC is fixed withdrawal fees. If I am not wrong. Even if you withdraw 1 BTC. The charge is the same and at that moment, the Stake has to pay way more than that amount. So. I guess you got it why they have a fixed withdrawal fee.

acroman08

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Quote from: perla on March 02, 2022, 05:30:06 AM

They could just tell the truth about it that they are charging withdrawal fee,

I don't think they ever hid that they are charging withdrawal fees. in fact, they are saying that they are charging withdrawal fees. you can check their ToS and you'll find what you are looking for on "Withdrawals". you can even see when trying to withdraw how much they will charge you for the withdrawal fee.

Beparanf

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Quote from: perla on March 02, 2022, 05:30:06 AM

Quote from: stomachgrowls on March 02, 2022, 04:49:55 AM

Quote from: acroman08 on March 01, 2022, 10:54:40 PM

it is one of their ways of earning money. if you think the amount is too much, better use a gambling site that don't charge anything when withdrawing.

This is true and this is how business works on which they do earn profit out of those fee extra aside on getting from house edge alone.If you dont like their fee structure then you could always opt out

They could just tell the truth about it that they are charging withdrawal fee, though I think that $1 is nothing for most of us. I think this user is disappointed and feel he is deceived by the Stake because the fee is different from the blockchain than what he paid for but to tell the truth it doesn't bother me, I withdraw small amount yesterday and it came to my wallet in less than 5 mins I didn't notice about the fee by the way.

What telling the truth? Withdrawal fee is visible when you visit the wallet of Stake and also it was indicated on there TOS under Withdrawal category("Note that some payment methods may include an additional fee. In this case, the fee will be clearly visible for you in the cashier." -https://stake.com/policies/terms). It's the player responsibility to inspect carefully the Casino before he will play on it because once he click the agree button on the ToS part, You agree already on what is written there and you should follow which in this case was the fee is visible by the time he withdraw and accepts it as is.

perla

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Quote from: stomachgrowls on March 02, 2022, 04:49:55 AM

Quote from: acroman08 on March 01, 2022, 10:54:40 PM

it is one of their ways of earning money. if you think the amount is too much, better use a gambling site that don't charge anything when withdrawing.

This is true and this is how business works on which they do earn profit out of those fee extra aside on getting from house edge alone.If you dont like their fee structure then you could always opt out

They could just tell the truth about it that they are charging withdrawal fee, though I think that $1 is nothing for most of us. I think this user is disappointed and feel he is deceived by the Stake because the fee is different from the blockchain than what he paid for but to tell the truth it doesn't bother me, I withdraw small amount yesterday and it came to my wallet in less than 5 mins I didn't notice about the fee by the way.

stomachgrowls

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Quote from: acroman08 on March 01, 2022, 10:54:40 PM

it is one of their ways of earning money. if you think the amount is too much, better use a gambling site that don't charge anything when withdrawing.

This is true and this is how business works on which they do earn profit out of those fee extra aside on getting from house edge alone.If you dont like their fee structure then you could always opt out

on other casinos as well which do only deduct dynamic network fees which i could say that it is really not that a headache but only seldom players do make out some small withdrawal thats why

these fees could really make you doubt on making one but much sure you do already have the idea.Stake does have high btc withdrawal fee based on my past experience.

ipanks

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Paying high transaction fees is very painful, especially if we want to withdraw our money from gambling. But we must also understand the casino because they want to help us speed up the transaction but if that means we have to pay more, I think you can ask the gambling site. Maybe $3 is the minimum transaction fee we have to pay. Maybe the only way we can do it is to wait until our balance can be above $50 then withdraw it. If that's the case, the $3 fee won't be too noticeable. But it's better to inquire through customer service so we know why they use $3 for transaction fees.

BitcoinAccepted

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I think that $3 was their minimum withdrawal fee and I think the OP is just mad or frustrated because the fee you have paid and the ones on the blockchain was different, for some users like me it doesn't matter for a small amount but to think that many players are going to withdraw I'm sure that the $1.40 combined was a big profit and I think it is another way to earn in gambling site.

You can move to other gambling sites that doesn't require you to pay transaction fee but expect that they do have a minimum withdrawal amount, it is to avoid paying tx fee for a small amount imagine paying $3-$5 just for a $10 withdrawal by the user.

Jawhead999

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Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

So my question remains what did Stake do with the remaining $1.40 Huh

Extra profit for them, they're a profit business of course they want to maximize their profit isn't? it's still acceptable with such amount they deducted, not to mention centralized exchanges and some wallet do charge additional fees too. If the amount they charge is higher than your withdrawal, then it's a legit reports since it most likely a bug.

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It is a big amount to go missing especially when some Sportsbooks don't charge anything.

No one is forcing you to play on Stake, you're feel free to leave and play in some sportsbooks you mentioned above that doesn't charge any additional fees.

Odusko

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Leading Crypto Sports Betting & Casino Platform

I have not played on stake.com before so am not familiar with the amount their charge on withdrawal/deposit fees but am familiar with sites that have similar systems that charge high fees, those sites also give customers the option of using smaller fees but with longer transaction time. And if you want to use their instant withdrawal features you will be charged a higher fee.

onecall123

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Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

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It is a big amount to go missing especially when some Sportsbooks don't charge anything.

Your points are valid, but if you hope that you will receive an explanation of why the extra withdrawal fees are charged, then take a seat, because this is business. This can be considered as hidden fees for running up their business and becoming profitable. These charges are sometimes not even disclosed. You should get a basic understanding of any casino's services before engaging them, since we have a wide range of choices.

NeuroticFish

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Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

I'm surprised no one has mentioned this before and why Stake continues to think it's acceptable behavior.

Stake subtracted $3.09 from my withdraw

Most crypto businesses charge a hefty withdrawal fee, which is not much related to the actual tx fee. It happens usually at exchanges, but it's not limited to them.
The withdrawal fee (in Bitcoin) is not related to the amount you withdraw. It would have been the same (in Bitcoin) even if you would have been withdrawing 10 BTC.

You should have been reading the rules before using their services, you should have been reading the rules before attempting withdraw of such a small amount.
While I agree the fees should be easier to find even if one doesn't have account there, they are present on the thread about crypto casino fees.

Pmalek

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If you take a look at my thread that acroman08 linked to in his post, you will notice that most crypto casinos charge their players certain withdrawal fees. The amounts are not standardized and depend on each individual platform. Before depositing your money into a casino, I suggest you take a look at their payments page and/or withdrawal tab because the amounts are usually specified there.

I see no reason to get Steve or the customer support involved in this matter. You were charged a withdrawal fee like any other player on Stake is. Part of that sum was used to pay for mining fees and the rest is Stake's profit. If you don't like that, you can take your gambling to a site that doesn't charge its players anything when they perform withdrawals.

rodskee

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Quote from: traderethereum on March 02, 2022, 01:00:49 AM

If I am not mistaken, their withdrawal fee is about 0.00007 btc or equal to ~$3 for any amount but I am not sure about that.
Do you already ask their support system about this?
But I think they use that amount as the additional fees to prevent if the network has high traffic and makes the transaction delayed.
Can we know how much you want to withdraw?
Because if your want to withdraw $50-$100, paying $3 is okay.

I don't know why OP asked here first instead of asking the Support or directly to Steve about this issue.
also i have no Idea about how much Stake.com charge per withdrawal but what i think OP's problem is that the fee required for that small amount of withdrawing .

and also this is why I choose sportsbet.io over stake in sportsbetting because they are not charging in withdrawal.

traderethereum

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If I am not mistaken, their withdrawal fee is about 0.00007 btc or equal to ~$3 for any amount but I am not sure about that.
Do you already ask their support system about this?
But I think they use that amount as the additional fees to prevent if the network has high traffic and makes the transaction delayed.
Can we know how much you want to withdraw?
Because if your want to withdraw $50-$100, paying $3 is okay.

Coin_trader

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Quote from: rohang on March 01, 2022, 11:48:36 PM

There are many sites that do not have any withdraw fees , u can use those instead

HOWEVER , those sites usually have a rollover requirement on deposit ranging from 100% to anywhere up

stake , as far as im aware has very low rollover required (10%) , so every site has pros and cons

Sportsbet doesn't charge any fee in both withdrawal and deposit additionally they didn't have any wagering requirements for your deposit in able to be withdrawn. I play sports betting at sportsbet most of the time and never experience this kind inconvenience that you guys talking here. I heard that Blackjack.fun will gonna have a sportsbook and they don't have any wagering requirements for deposit, Maybe you guys should check it out once its available. Wink

Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

So my question remains what did Stake do with the remaining $1.40 Huh

It is a big amount to go missing especially when some Sportsbooks don't charge anything.

They usually charge a flat rate fee to counter crypto volatility since they will only hold the crypto in there hot wallet. Those missing transaction you are looking for will go directly to there treasury fund to cover other withdrawal fee in case the standard transaction fee of Bitcoin increased due to network flood. They are using a flat rate withdrawal to save time on adjusting withdrawal fee whenever Bitcoin blockchain network become crowded.

rohang

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There are many sites that do not have any withdraw fees , u can use those instead

HOWEVER , those sites usually have a rollover requirement on deposit ranging from 100% to anywhere up

stake , as far as im aware has very low rollover required (10%) , so every site has pros and cons

noorman0

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Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

So my question remains what did Stake do with the remaining $1.40 Huh

Because centralized services (including casinos) don't charge a deposit fee, but on the other hand they have to sweep your deposit address periodically and put it in a hot wallet and however it costs network fees. On average, all network fees will be charged to the customer which will be deducted upon withdrawal. That's why they are rather expensive (up to 2x).

judeafante

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Quote from: acroman08 on March 01, 2022, 10:54:40 PM

according to this, their withdrawal fee is $3.11 which is almost the same as the subtracted amount from your withdrawal. you can click the link on the quoted post if you want to see the whole thread.

Quote from: Pmalek on April 27, 2021, 01:03:10 PM

Stake

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0.0005 BTC:

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0.00007 BTC:

|

ETH, LTC, DOGE, BCH, XRP, TRX, EOS

|

Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

It is a big amount to go missing especially when some Sportsbooks don't charge anything.

it is one of their ways of earning money. if you think the amount is too much, better use a gambling site that don't charge anything when withdrawing.

Exchange and casinos use this as a way to earn money so they can sustain their operations they cannot rely on gamblers' losses they have to make extra revenue and additional charges and trading is one way to cover the cost, especially from a casino that's spending a lot of money for their ambassadors and marketing, there are casinos that's not charging a withdrawal fee but you will have to trust them that they will keep their promises I prefer a small amount of extra in my withdrawal as long as the casino is reputable.

acroman08

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according to this, their withdrawal fee is $3.11 which is almost the same as the subtracted amount from your withdrawal. you can click the link on the quoted post if you want to see the whole thread.

Quote from: Pmalek on April 27, 2021, 01:03:10 PM

Stake

|

0.0005 BTC:

|

0.00007 BTC:

|

ETH, LTC, DOGE, BCH, XRP, TRX, EOS

|

Quote from: Stake withdraw fees on March 01, 2022, 10:10:16 PM

It is a big amount to go missing especially when some Sportsbooks don't charge anything.

it is one of their ways of earning money. if you think the amount is too much, better use a gambling site that don't charge anything when withdrawing.

Topic: Stake charging $3.09 on a $1.69 withdraw - page 5. (Read 818 times)