$ 5 in my opinion is still standard and not too expensive. If some online casinos experience increased transaction fees it is because of the crowded Bitcoin Network, but that only applies to casinos that use crypto networks.
If you want a withdrawal fee of $1 or less, I don't know what gambling platform can do that. But try to check online gambling platforms that integrate the Bitcoin Lightning Network. that might be an alternative because the lightning network uses a cheaper and faster fee.
Topic: Things that still make feel awkward with some online casinos - page 8. (Read 949 times)
This is why it's important to know these costs beforehand before making a deposit and start playing with that platform. You'll never know what you're getting into especially with the withdrawal fees. If a casino platform has that high of a fee to begin with, I'd never turn back once I leave. If they can't make a profit off of just the games that they are offering and are getting some of the profits from the users' wins through withdrawals, they shouldn't really be operating a casino at all.
Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.
Yes, this is one of the things whenever i do see some new platforms or casinos that emerge on the market on which having that withdrawal fee is really that something to be concerned of. You cant really just ignore Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.
this thing even though its small but something a huge factor which other people been that trying to look or check on because on the time that they do see that the fee rate or price is high than with the usual
network requirements or needs then this is where discouragement and lose of interest would start and would be finding out some another place on which they would really be seeking or looking that offers less fees.
No matter how small the differences is if they would see about $1 0r more difference then people would be having no doubt or second thoughts on transferring. You cant really stop people no not to be mindful
about these usual stuffs and paying up more bucks for just pulling your money isnt really that giving a good feeling.
This is why it's important to know these costs beforehand before making a deposit and start playing with that platform. You'll never know what you're getting into especially with the withdrawal fees. If a casino platform has that high of a fee to begin with, I'd never turn back once I leave. If they can't make a profit off of just the games that they are offering and are getting some of the profits from the users' wins through withdrawals, they shouldn't really be operating a casino at all.
Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.
Then again, it's their platform, they impose the rules and we just play on them. Better look around and seek for other alternatives that do not ask for such a ridiculous withdrawal fee.
Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.
As much as my knowledge is concerned, at least most of the crypto-gambling sites, are supposed to have a fixed amount of withdrawal fees regardless of the situation in the memory pool right now. Besides, why use a fiat value on your computation? Mentioned the exact bitcoin amount as the exchange rate varies time per time. Your 10,000 satoshis for example might don't have the same value yesterday or tomorrow.
Can you tell us what gambling site you are referring to just for our reference?
We can have a much better and more accurate response if you will share detailed information about your concern.
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 only casino on which i could say that charging huge fee despite of the low tx fee on market condition is Stake specially on their Bitcoin withdrawals which do ask out 0.0001 or 0.0002 or something like that.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.
No matter on what network condition would be then it would really be staying up like this.How much more if they would be making out some adjustments according on whats been asked? For sure they would really be putting up more than on what the network requires. Is this surprising? No its not. There are platforms who do snip out profits out of these fee add ups which it not shocking.
Most of gambling sites are really having that dynamic fee which would automatically adjust basing on the market fee condition which it is always been that recommendable
or preferred and not into those platforms who do ask more.
Most of the time we were able to see the rise in the withdrawal fee when there is increase in the onchain transaction fee. Casinos mostly have some fixed value, but the onchain transaction doesn't take a fixed value, so depending on the time the transaction fee will be paid receiving a fixed amount from the gamblers. Now there is rise in the fee and the same can't be compensated with what they have set as the transaction fee. This is the reason why there is rise in withdrawal fee. Maybe some Casinos were making good profit through this, but not all the Casinos does this kind of business.
I totally agree! Charging excessively high withdrawal fees is just not cool, and it's a clear sign of bad management on the part of the casinos. It's like they're trying to squeeze every last penny out of their players, which is definitely not a good way to build trust and loyalty. Reputable casinos understand the importance of reasonable and transparent fee structures that don't leave players feeling like they've been taken advantage of.
Of course, cryptocurrencies are a volatile asset with a dynamic transaction fee that changes from minute to minute. However, it doesn't justify casinos charging exorbitant or unjustifiably high withdrawal fees. After all, it's in their best interest to maintain a balance between covering operational costs and offering reasonable fees that don't deter players from withdrawing their funds. Unless, of course, they intentionally set high withdrawal fees as a strategy to discourage users from cashing out
Of course, cryptocurrencies are a volatile asset with a dynamic transaction fee that changes from minute to minute. However, it doesn't justify casinos charging exorbitant or unjustifiably high withdrawal fees. After all, it's in their best interest to maintain a balance between covering operational costs and offering reasonable fees that don't deter players from withdrawing their funds. Unless, of course, they intentionally set high withdrawal fees as a strategy to discourage users from cashing out
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.
Casinos are not the only sites guilty of increasing their withdrawal fees, exchange are also increasing their withdrawal fees and that's because of the congestion on the Bitcoin network. We just have to manage for now, soon everything will return to default.
The only coin to be affected are bitcoin, if any casino request high fees for withdrawing other altcoins. You should avoid using such a casinos as they're thief or experiencing a glitch in the withdrawal system. Although altcoins should work effectively.
Some online casino are just scammers and they wait until you're in need of the money won before they start delaying your withdrawal with different unnecessary excuses. Any casinos that overpriced should be avoided as we have many casinos available.
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Cryptocurrencies are highly volatile assets, which means that if the withdrawal fee is set in this asset, it also changes in the dollar equivalent. Casinos and other platforms that work with cryptocurrencies set an average or increased value of the commission, because they cannot change the established commission on a daily basis only because of those who count the commission in dollars. Any of us can compare the commissions of gambling sites and choose the ones they like.
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.
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.
Recently fees have been high with Bitcoin transactions because the network was extremely backlogged. I imagine many services had to raise withdrawal fees as a result in order to make sure that their withdrawals go through in a timely manner and that they don’t lose a ton of money in the process. I think a solution might be to give users the option to have a longer withdrawal time with a lower fee so that transactions can be batched and sent with a low fee that might take some time to confirm.
I couldn't help but think they are also stealing from us. Taking advantage of the situation since we are trying to avoid withdrawing BTC due to high fees, this time they are also increasing the amount to deduct upon withdrawing altcoins.
I kind of feel the need to ignore it though compare to having to send BTC for more than $10 in 30 minutes. That's the condition for anyone trying to send out, I feel you but the 2nd option may still be a good option.
I hope also that some representatives of crypto-active casinos see this thread, after all why should casinos take advantage of gamblers who want to make withdrawals, it's clear they lose a lot of money while playing at the casino why are withdrawals still being charged additional fees while sometimes I know that transaction fees are not as big as requested and used, that's why I rarely find casinos that use XLM crypto because their transaction fees are cheap so it's difficult for casinos to take advantage of crypto.
I also find it too exaggerated for the withdrawal fees some casino sites sometimes they charge a withdrawal fee which is unreasonable even though using the Matic Polygon network it's not expensive but the average average is up to $1 withdrawal fee, it's weird to see, that's why I always choose the casino which is honest and has withdrawal fees that are truly reasonable and normal
I also find it too exaggerated for the withdrawal fees some casino sites sometimes they charge a withdrawal fee which is unreasonable even though using the Matic Polygon network it's not expensive but the average average is up to $1 withdrawal fee, it's weird to see, that's why I always choose the casino which is honest and has withdrawal fees that are truly reasonable and normal
Why are some online gambling platforms having high withdrawal fee?
The recommended fee might seem low, but your withdrawal transaction can quickly get pushed back by an hour or longer because tons of transactions are still being sent, and some are willing to pay higher than $1. It happened with one of my transactions yesterday after the fees went as low as 20 sat/b. you will see this only after you have enough wins or funds for withdrawal.
If it's not mentioned on the withdrawal page, you can always contact their live support, so you don't have to risk making a deposit and letting it sit at their casino for days. So far, withdrawal fees are probably the least of my worries when i'm using altcoins because even if they don't show the exact amount, it's always smaller than their Bitcoin withdrawal fee.
Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ 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.
Agreed. I know there's money that needs to be made and these Sportsbooks and casinos must find a way to make it somehow but this compounding 5 bucks is too much, enough to actually keep them afloat for months on end even if a large portion of their playerbase wins by a large margin. A little sad nothing could really be made to dissuade these casinos from imposing high fees other than boycott.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.
Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
What I know is that bitcoin, ether and ERC20 tokens are the ones that requires high fee. On exchanges and centralized gambling sites, the altcoins transactions are not high in fee. If there are still altcoins with high fee, there are still alternatives on most gambling sites that their transactions require low fees. What I think is that some people can be confused if they are only using bitcoin to gamble and what happen to bitcoin network recently can cause panic. I think this is about bitcoin transactions, not crypto transactions, and it should not be generalized on all coins.
Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
What I know is that bitcoin, ether and ERC20 tokens are the ones that requires high fee. On exchanges and centralized gambling sites, the altcoins transactions are not high in fee. If there are still altcoins with high fee, there are still alternatives on most gambling sites that their transactions require low fees. What I think is that some people can be confused if they are only using bitcoin to gamble and what happen to bitcoin network recently can cause panic. I think this is about bitcoin transactions, not crypto transactions, and it should not be generalized on all coins. 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.
I used to feel annoyed as well but it's probably for the player's convenience why they do this. Can you imagine if they lowered it to 10 sats/vb for your withdrawal and then suddenly the network becomes overloaded? The lowest priority shoot up to 50 sats/vb which means you'll have to wait hours or maybe days before your money arrives at your wallet. You wouldn't want that also unless you're not in a hurry. 
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.
The situation with mempool can change at any moment, and no one wants to pay fees to someone else out of their own pocket, and obviously not to constantly adjust them to the current situation, which would certainly be the most fair. If you look at what is currently happening with mempool, you can see that the current medium priority fee is around $3, and in some blocks even more - which again depends on the number of incoming transactions and the number of blocks (4 blocks were found in the last 5 minutes).
Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery?
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Maybe we can talk about something called a service fee, as is the case with CEX. In that case, the price of withdraw does not depend only on the price of the transaction, but also on the service you use.
It's normal, casino is a profit oriented company, so they will charge anything to make profit. Fee for dormant account, withdrawal fee, or even deposit fee is possible implemented by the casino. Although most of casinos are using dynamic fees because of the previous Bitcoin fee suddenly increase, don't expect they only charge money they used to pay the miner. But there are few casinos have free withdrawal that you can check by yourself Withdrawal Fees and Withdrawal Amounts on Crypto Casinos
you will see this only after you have enough wins or funds for withdrawal.
You don't need to be awkward to make a deposit or make a withdrawal at online casinos at this time, even though the Bitcoin withdrawal fee reaches $ 5, for me it's not an obstacle and a problem for us to make bets.That is why you have to choose and play at casinos that offer many payment features in various types of crypto, for that, never deposit/withdraw in just one type of crypto, like Bitcoin, choose a few cryptos to make it easy for you to overcome your awkwardness.
Example: features of crypto types such as LTC, Doge and so on.
Talking about costs, many crypto users are currently switching to the LTC feature, whether it's in the deposit or withdrawal method, LTC costs only 0.001LTC for one transaction only spends $ 0.08, one time withdrawal, cheap isn't it.
Actually there are many other alternatives that you can do, at a time like today, Bitcoin withdrawal fees are quite expensive.
Centralized exchange also charge high withdrawal fee, isn't this a robbery too? then why still use a centralized site. You have a choice to gamble with altcoins where you just need to connect through your non custodial wallet without need to transfer your coins to the casino. They will not charge any fee, but make sure you're gamble on a safe web 3.0 casino.
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