Things that still make feel awkward with some online casinos - page 6.

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Quote from: goaldigger on May 18, 2023, 04:59:13 PM

Quote from: QueenVera on May 18, 2023, 04:56:32 PM

This is a broad day robbery and u think the gambling regulatory body should look into this matter and bring an end to it before it finally gets out of hand.
There are several things that I find awkward on other casinos especially on the new ones and except for the high transaction fee which is a red light to me, the other is time or duration for payment processing and the moment a casino delays either deposit or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period of time now and the moment a casino isn't transparent, then it's a no go area for me.

This could be the problem, even if you use alternative with a cheaper fees, the site will still collect its fixed fees. Maybe this is for the services, or what but it is still not right to collect it since we are already paying the cost on playing on their site. Well, regulations doesn’t care that much with the fees as long as that site is paying the taxes right, consumers or the gamblers are always the one who pays more, this is not new to a gambling site.

the moment we deposit stands that we are accepting how much they are asking us upon withdrawal because it is their rules and yes we comply as we play on their site.
we have the rights to choose wherever to play but the problem here is that most of us are not checking the terms and will be shocked once withdrawal comes.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

The fees are mentioned before you can withdraw. Also centralized exchanges have higher withdrawal fees. So if you can deposit and withdraw from an exchange just only to see the fees, then why can't you do the same with the casinos? Deposit and see how much the fee is...
Like others said, if Bitcoin fee is too much for you, then use other altcoins with lower fees.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

Any casino that is still doing this are only tarnishing there image and reputable because it is very obvious that the network fee had reduced even though it has not gotten to the normal fee that we use for our normal transaction. We still have to wait and be patient for a while since the beginning of this network issue that had made many casinos and other online platforms to stop paying or allowing transactions in Bitcoin. We can as well make transaction with altcoins to enable us have a quick withdrawal to avoid unnecessary waiting for transaction to be confirmed.

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Quote from: Queentoshi on May 16, 2023, 08:29:46 AM

Quote from: Pierre 2 on May 16, 2023, 04:17:43 AM

I honestly observe this with many different crypto websites not even casinos. Some companies try to gain extra money through transactions. I also think its very close to robbery. Online casinos can generate huge amount of money through players/gamblers anyways. I think low fees promote usage anyways. I find it very awkward and disruptive. I think casinos should not treat their customers as cows that they will milk money away.

Only casinos with bad management and practice will do this. Casino's with good management and practice will always want to make sure that they keep things normal for their customers and not extort them with any opportunity they have. Any casino that is identified as doing this cannot be trusted and I will advice anybody gambling on these casinos should immediately withdraw and seek a better and more customer considering casino.

I agree with you on this- I think this is more of a management issue than of the high tx issues of cryptocurrencies that everyone is currently experiencing.

With high transaction fees, gambling companies can at least gain some sort of monetary advantage in this kind of scheme. Generally, bad management of casinos have a constant tx fee posted on their website. Most likely, they did not even bother to update their tx fee and just made it at a constant price (which is around $5+) for their convenience and advantage.

To avoid this kind of issue, it is highly recommended that you play on a reputable gambling website. New gambling websites that are less than a year are prone to his kind of management scheme.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?

If there's no reason to increase the fee for those altcoins that don't have network traffic, it's not right and justifiable to have those chains increased as well.
While for Bitcoin it is understandable why the fees have been changing and not constant at these times because of such factors. With this matter, ask directly the casino why even those low fee transactions and altcoins have to get some increase on its withdrawal fees.
And that's for you to have a clarity why they've also increased the fee, only them can answer that outrightly as most of us here are just guessing.

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Quote from: goaldigger on May 18, 2023, 04:59:13 PM

Quote from: QueenVera on May 18, 2023, 04:56:32 PM

This is a broad day robbery and u think the gambling regulatory body should look into this matter and bring an end to it before it finally gets out of hand.
There are several things that I find awkward on other casinos especially on the new ones and except for the high transaction fee which is a red light to me, the other is time or duration for payment processing and the moment a casino delays either deposit or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period of time now and the moment a casino isn't transparent, then it's a no go area for me.

This could be the problem, even if you use alternative with a cheaper fees, the site will still collect its fixed fees. Maybe this is for the services, or what but it is still not right to collect it since we are already paying the cost on playing on their site. Well, regulations doesn’t care that much with the fees as long as that site is paying the taxes right, consumers or the gamblers are always the one who pays more, this is not new to a gambling site.

Here's some real time situation in regarding fees about on how platforms would really be doing it;

-Static or Fixed Fee -- Doesnt change up no matter what the network condition
-Dynamic Fee- Moves along on the recommended network fee
-Static or Dynamic fee + house fee or charge.

Complaining about the additional charge? Its not really something new because this is business and they could put up on whatever things that they do want.
If you dont like their policies or those features then you could always jump into other places on which the best one in regarding to this is to those
platforms who do offer free fee which is something that unusual nowadays for us to see but if ever there's one then i do really like on having that
compared to those who do really ask for more.

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Quote from: QueenVera on May 18, 2023, 04:56:32 PM

This is a broad day robbery and u think the gambling regulatory body should look into this matter and bring an end to it before it finally gets out of hand.
There are several things that I find awkward on other casinos especially on the new ones and except for the high transaction fee which is a red light to me, the other is time or duration for payment processing and the moment a casino delays either deposit or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period of time now and the moment a casino isn't transparent, then it's a no go area for me.

This could be the problem, even if you use alternative with a cheaper fees, the site will still collect its fixed fees. Maybe this is for the services, or what but it is still not right to collect it since we are already paying the cost on playing on their site. Well, regulations doesn’t care that much with the fees as long as that site is paying the taxes right, consumers or the gamblers are always the one who pays more, this is not new to a gambling site.

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Quote from: QueenVera on May 18, 2023, 04:56:32 PM

This is a broad day robbery and u think the gambling regulatory body should look into this matter and bring an end to it before it finally gets out of hand.
There are several things that I find awkward on other casinos especially on the new ones and except for the high transaction fee which is a red light to me, the other is time or duration for payment processing and the moment a casino delays either deposit or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period of time now and the moment a casino isn't transparent, then it's a no go area for me.

well, if you have seen that they are charging unreasonable fees, then, don't play on the site. just plain and simple. because they have their reasons why they are charging such fees. and if you think you can't change what they have set, then just look for another site which you think is much better when it comes to fees. but of course, fees is not the only reason why you should alter your casino. check if they have no complaints regarding withdrawal. because they may have lower fees, but it will take time before you can withdraw. so sometimes it is better to pay higher tx fees instead of low fees but there's no assurance when can you get your money.

QueenVera

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This is a broad day robbery and u think the gambling regulatory body should look into this matter and bring an end to it before it finally gets out of hand.
There are several things that I find awkward on other casinos especially on the new ones and except for the high transaction fee which is a red light to me, the other is time or duration for payment processing and the moment a casino delays either deposit or withdrawal, then it's also a red light for me.
Transparency is one major factor that has been in my consideration list for a long period of time now and the moment a casino isn't transparent, then it's a no go area for me.

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Quote from: Fortify on May 18, 2023, 03:09:37 PM

Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.
Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

It is still relatively recently that these high cost transactions were occurring on the blockchain, it's possible that casinos started to enforce much higher transaction fees because they were getting complaints of incomplete withdrawals. Maybe they've manually interfered with the fee amounts and need to reset whatever intervention caused this. Ultimately it is a fault of crypto that transaction fees could even spike up so high, so your annoyance might be misplaced but it's also fair that these companies which make a living from such transactions become better at adapting their software to the up to the minute environment. Transaction fees last time I checked were still relatively high compared to a few weeks ago, even if it was way from the peak.

Except for a few coins, almost all altcoins have low withdrawal fees. Bitcoin and Ethereum fees are just out of reach but on the Tron network you can still withdraw coins for nominal fees.

There is no fault on the part of the casino sites to increase withdrawal fees on the Bitcoin network and ETH network, if the fees are high then they have to pass along to the players. It is possible, however, to take alternative measures in light of the current situation and considering the needs of users. If you withdraw Bitcoin from the casino at such a fee, there will be no profit. It may be possible to introduce a swap system in this case.

Casinos can introduce BTC to LTC or BTC to TRX swap systems if they want, then I think these problems will be solved.

Regards

Duke

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On this situation, they can't shoulder the dynamic fees that's being set in the network and that's why those withdrawal fees that they set are also changing.

Not to blame these casinos but they're just doing that depending on the status of the network. Because if you look now at the mempool, the typical quickest transaction and its fee is around more than $4.

Thus, this is being adjusted by the casinos that have that much fees in your opinion. So, they're also sending that adjustment to their customers that are about to withdraw.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

It is still relatively recently that these high cost transactions were occurring on the blockchain, it's possible that casinos started to enforce much higher transaction fees because they were getting complaints of incomplete withdrawals. Maybe they've manually interfered with the fee amounts and need to reset whatever intervention caused this. Ultimately it is a fault of crypto that transaction fees could even spike up so high, so your annoyance might be misplaced but it's also fair that these companies which make a living from such transactions become better at adapting their software to the up to the minute environment. Transaction fees last time I checked were still relatively high compared to a few weeks ago, even if it was way from the peak.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

I noticed on some casinos that they are trying to take advantage of the bitcoin situation but the I wouldn't blame them. I would blame the gambler who returns to them over and over again when they have other options. I also understand that casinos use this fees to offset some their their costs such as operational costs, and also for processing withdrawals. You may want to reach out to their customer care agents to get clarifications and inquire what your other options may be.

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Quote from: Crypt0Gore on May 18, 2023, 02:16:45 AM

Very true, it's not only some online casinos but also some exchnages and other websites too, they solely making money through withdrawal fees, for example, OKEX has the cheapest withdrawal fee for tokens on ERC-20 but compare Kucoin, is a cheating bastard on this part, they take up to 12$ for tokens withdrawal while OKex takes 3$, I've seen some thread about withdrawal fee of all available online casinos, you should do your own research on that.
~

I feel your pain bro Cheesy

I immediately thought of this exchange as soon as I saw this topic. But why 12? I withdrew USDT a couple of months ago and these bastards charged me 25 dollars and to be honest after such a predatory commission I have no loyalty to them. They have no KYC (within the limits that interest me) and everything seems to be fine there, but this robbery when withdrawing my funds made me angry.

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Very true, it's not only some online casinos but also some exchnages and other websites too, they solely making money through withdrawal fees, for example, OKEX has the cheapest withdrawal fee for tokens on ERC-20 but compare Kucoin, is a cheating bastard on this part, they take up to 12$ for tokens withdrawal while OKex takes 3$, I've seen some thread about withdrawal fee of all available online casinos, you should do your own research on that.

Crypto exchanges and casinos are built to make money, but only few of them want to be less greedy, that's why I will keep using Binance and Okex exchange more than any other, I am using Roobet as my main gambling platform and fees are fair enough, just find one that suits your taste.

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I reckon most casinos( or any centralized company thay handles crypto) have a set amount that they use, plus a service fee. It might not dynamically change depending on immediate changes in the mempool, so they're slow in the update, and if they actually do, it's either because the fees became higher than what they originally set or because of a cycle, e.g. having a set fee for the entire day whichever is set at say, 12mn, where updates will only ever happen if as I said, fees go higher than what they set.

It doesn't really hurt them that way, could even be additional profit so they don't particularly mind having to change it. It's just business, and their customers still use them so they don't really see any need to actively reduce/adjust the system.

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

There are two reasons for this:
1. The fee changes every day, setting a high fee ensures that the casino will never lose money on the withdrawals they process.
2. It's another means of profit. Casinos are not built to be fair, they are built to make money. If they can make $1-$4 per withdrawal and they process 100-1000 withdrawals per day, that's anywhere between an extra $100-4000 in profit for them.

So, why not? Gamblers need to withdraw, or they need to win more to make up for the fee (which increases the chance they lose everything) so it's smart business from their perspective.

Is it right? No. The fee should be dynamic as to current network conditions, that would be the fair and right thing to do. However, casinos are not fair, or right. So you can't expect that from them.

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Quote from: DoublerHunter on May 17, 2023, 05:19:22 PM

Quote from: btc_angela on May 17, 2023, 02:10:03 PM

Quote from: Outhue on May 16, 2023, 04:13:15 AM

Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.

I guess it boils down to business, the high transaction fees are going to fluctuate though, as you can see in the mempool right now, ~50 sat/vB for a low priority and then ~79 sat/vB if you want your transactions to be included in the next block.

So that is expensive again, it fall to like ~15 sat/vB, but here we go again and it could increased this weekend again.

But I do agree in your sentiments, the best case scenario for us is that casino's not charging as transaction fees as it is a burden for us specially if we have lost so much money already to them.

^ Definitely right, it is business that they will also generate profit by this withdrawal fee but as I know most of them use a third party when it comes to withdrawal fee and they called it, (Payment Processor Fees). It could be to sustain their operations and invest in further platform development. Online casinos often rely on third-party payment processors to handle transactions. These processors may charge fees for their services, which can contribute to the overall withdrawal fee. So the transaction fee on the network plus their processing fee, looks like a robbery to us.

It is accepted that they are using Payment processors fee from 3rd party provider
but the problem here is that there are almost casino sites that uses 3rd party but they are not asking for higher fees , this is the question needs to be answered , because comparing to others , there are only fee that charge so much high then what is the issue about that?
I still asks this in mind though I am not affected because never play in casino with such fee collecting ,
casinos that I am playing has literal lower fees and this is why they are called most trusted and played casino in online world specially crypto casinos.

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Quote from: Yatsan on May 17, 2023, 06:43:16 PM

Quote from: Outhue on May 16, 2023, 04:13:15 AM

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?

More of policy than robbery.
Unfortunately, that's just how platforms work; they have different withdrawal fees. Factors I guess why in some platforms withdrawal fees are high is price of the crypto as the mode of payment, being registered, and high quality of service. Whenever the market value of Bitcoin is increasing, transactional fees are also getting higher. On the other hand, a platform have paid for its registration or whether it is regulated or taxated, they have to put a raise on the withdrawal fee to cope up with this in return. Lastly, if the platform has high quality of service, top of the line UI and other features we don't often see among majority of gambling sites 'coz that is somewhat their investment; putting a lot of effort to the platform and to make up with those effort is high internal fees.

Fees could neither be;
Static or Dynamic on which we know that if its static then it would really be a fixed amount of fees which would really be deducted out on the time that you do make out withdrawals
and most of them are really having that dynamic which is something preferrable because you would really be basing up on network situation in regarding the fees but of course it would
really be having its cons because they would really be adjusting according on the market condition which we do have recently where fees rose upto $20 per transaction which is something that very high for anyone
to take as means of withdrawal fees.

This is why on the times on which we do look that each platform does have their own taking on setting up withdrawal fees whether of those two types. Some are making money out of it
and some arent really just minding that much and there are even ones who do offer withdrawal fees which is great but not something that common nowadays.

Yatsan

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Quote from: Outhue on May 16, 2023, 04:13:15 AM

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?

More of policy than robbery.
Unfortunately, that's just how platforms work; they have different withdrawal fees. Factors I guess why in some platforms withdrawal fees are high is price of the crypto as the mode of payment, being registered, and high quality of service. Whenever the market value of Bitcoin is increasing, transactional fees are also getting higher. On the other hand, a platform have paid for its registration or whether it is regulated or taxated, they have to put a raise on the withdrawal fee to cope up with this in return. Lastly, if the platform has high quality of service, top of the line UI and other features we don't often see among majority of gambling sites 'coz that is somewhat their investment; putting a lot of effort to the platform and to make up with those effort is high internal fees.

Topic: Things that still make feel awkward with some online casinos - page 6. (Read 998 times)