What withdrawal fee do you consider as fair in gambling sites? - page 2.

michellee

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Quote from: TopT3ns on September 03, 2019, 11:51:39 PM

Quote from: spadormie on September 03, 2019, 11:39:59 AM

Quote from: alexrossi on August 25, 2019, 02:53:15 PM

like 0.001 BTC.

Not the best withdrawal fee to think off. This is almost $11. For me the best withdrawal fee and the most reasonable is half of your given price. Gambling sites shouldn't be like exchange. Exchange right now are collecting big amount of fee from its users. It's very discouraging to use a platform with that rule.

True, 0.001 BTC is quite high for gambling site. Maybe 0.0002 like what someone tell above still on fair place. If exchanger have a lot of fees from people's trading activity, maker, taker takes fee, and usually they take 0.001 BTC for withdrawal fee. I think for gambling it is too high.

0.0002 btc is the best fee of withdrawal for the gamblers because that fee is not too high. Besides that, if we could only win 0.001 btc and the fee is too high, it is not worth to withdraw because we only get small money from that. As long as the fee of withdrawal is not more than 0.0005 btc, I think it is fair enough. But some exchange has been used 0.001 btc for the fee and that will not good for them as people want to use small fee for the withdraw.

Japinat

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Quote from: Polar91 on September 04, 2019, 12:12:23 AM

It's rare to see gambling sites which only charges 0.0002 for their withdrawal fee as well as in trading. 0.001 btc is usual for both platfrom and is also ideal.

For me it's not ideal, 0.001 BTC is too much for small time gamblers, and most gamblers in crypto space have a lot of small time gamblers.
0.001 BTC withdrawal fee is even high for exchanges, Binance as one of the most popular only charge 0.0005 btc, and I think that's the normal fee in an exchange. Hey, try to gamble at sportsbet, they don't have withdrawal fee, everything is free.

Polar91

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Quote from: TopT3ns on September 03, 2019, 11:51:39 PM

Quote from: spadormie on September 03, 2019, 11:39:59 AM

Quote from: alexrossi on August 25, 2019, 02:53:15 PM

like 0.001 BTC.

Not the best withdrawal fee to think off. This is almost $11. For me the best withdrawal fee and the most reasonable is half of your given price. Gambling sites shouldn't be like exchange. Exchange right now are collecting big amount of fee from its users. It's very discouraging to use a platform with that rule.

True, 0.001 BTC is quite high for gambling site. Maybe 0.0002 like what someone tell above still on fair place. If exchanger have a lot of fees from people's trading activity, maker, taker takes fee, and usually they take 0.001 BTC for withdrawal fee. I think for gambling it is too high.

It's rare to see gambling sites which only charges 0.0002 for their withdrawal fee as well as in trading. 0.001 btc is usual for both platfrom and is also ideal. For me it's fair for gambling sites specially for those high volume gambling sites. Comparing to trading; I believe that it's still more expensive in trading since they charges trading fee too aside of withdrawal fee.

TopT3ns

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Quote from: spadormie on September 03, 2019, 11:39:59 AM

Quote from: alexrossi on August 25, 2019, 02:53:15 PM

like 0.001 BTC.

Not the best withdrawal fee to think off. This is almost $11. For me the best withdrawal fee and the most reasonable is half of your given price. Gambling sites shouldn't be like exchange. Exchange right now are collecting big amount of fee from its users. It's very discouraging to use a platform with that rule.

True, 0.001 BTC is quite high for gambling site. Maybe 0.0002 like what someone tell above still on fair place. If exchanger have a lot of fees from people's trading activity, maker, taker takes fee, and usually they take 0.001 BTC for withdrawal fee. I think for gambling it is too high.

dunfida

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Windice do have a adjustable one when you do tend to make a withdrawal

"We use smart fee policy, and system determines the balance between price and speed of transaction. This will ensure transaction being fast and cheap. Fee is limited by cap 0.0002"

I do prefer on having this way.

spadormie

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Quote from: alexrossi on August 25, 2019, 02:53:15 PM

like 0.001 BTC.

Not the best withdrawal fee to think off. This is almost $11. For me the best withdrawal fee and the most reasonable is half of your given price. Gambling sites shouldn't be like exchange. Exchange right now are collecting big amount of fee from its users. It's very discouraging to use a platform with that rule.

Vishnu.Reang

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Quote from: Distinctin on August 25, 2019, 05:49:03 PM

There's no way I would play in a gambling site with BTC0.001 withdrawal fee per transaction, that's too huge, even higher than most exchange with only BTC0.0005 withdrawal fee, I know they are in different industry but I just like to compare.

Anyway, you are promoting sportsbet, I think they have the best withdrawal process which are instant and free, that's why I like to play in that site.
But for other sites, since I don't really gamble much expect sports betting, I would be okay with a withdrawal fee within the range of BTC0.0001 to 0.0002.

It is not very ethical for the gambling sites to charge BTC0.001 as withdrawal fee for a single transaction, as the current rates are 1/20th of that amount for priority transactions and 1/100th of that for normal transactions. How can they charge 100 times that of the prevailing rates? Also, most of the sites do bulk transactions, which reduce the manpower and time needed to process these withdrawals.

erikalui

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Sites which I have used have a fee as low as 0.0002 which is fixed and their transactions get confirmed within 5-10 mins max. 0.001 BTC is usually charged by exchanges and not gambling sites. Better to avoid such websites unless you are wagering and withdrawing big amounts.

Primedice used to have 0.004 BTC as the minimum amount to withdraw and huge fee earlier but now it seems they reduced it to 0.00005000 BTC. Do these transactions get confirmed soon?

barbara44

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Quote from: Tungsten-1 on September 02, 2019, 12:58:30 PM

Fee may actually vary from casino to casino. Like we have different fee being charged on different crypto exchanges. Same is the case with casinos too. One providing great services will charge you a bit high as compared to the one that does not provide you great services. I think there should be a set amount of it to be charged. It could also increase with rise in the cost of operations of casinos.

You are very right and this is the aspect so many of us are not getting right. Different sites operate with different cost and it will be wrong an quite difficult for all sites to do the same thing or have same the same amount of withdrawal fee. Let’s learn to understand that some casino sites actually offer better services and we would not expect them to give same rate with what some other casino sites are giving, it is optional and this is the reason for a lot of sites out there, if you don’t find the conditions and withdrawal fee of one suitable for you, you are entitled to looking out for others, but we cannot impose our desires on a casino site.

I for one, I prefer a site that would give me an affordable withdrawal fee but then I would not mind paying more if safety is guaranteed on same site.

eternalgloom

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Quote from: jrrsparkles on September 01, 2019, 01:21:31 AM

Miner fees are not calculated interms of dollars so having the fixed withdrawal fee as some dollar is similar to the fixed bitcoin fee,the fair enough method is just calculate the fee dynamically based on the memepool status.

Mistakes can still happen when taking that approach.
While it's good to have a dynamic fee suggestion, one should also have the option to add a slightly higher fee.

Many gambling sites do have an approach similar to this, but usually with some sort of fixed fee.

EdenHazard

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Quote from: BitcoinGirl.Club on August 25, 2019, 03:15:14 PM

Withdrawal fee in gambling site?

I am with sportsbet.io from long time and they do not have any withdrawal fees. With cloudbet.com, they also do not have fees. With onehas.com, they do not have withdrawal fees for the first withdrawal in a week.

I did gamble in few other sites (nanogames and few I can not remember), not much but withdrawal fees was never a thing I seen. It's an immediate discouragement for me. I also dislike the exchanges, the amount they charge (0.001BTC or 0.0005BTC, it's just too much).

To answer your title: I think there should be a Zero withdrawal fees like sportsbet.io. They can give a minimum withdrawal requirement though.

That's true .. i think most crypto gambling sites applying a zero withdrawal fee unlike an exchange that i think recently actively making a crazy withdrawal charge.

I personally never play at a sportsbook/casino that takes withdrawal fee from customers , as far as i remember sportsbet.io , jetwin and fortunejack has no withdrawal fee.

But yeah if there's any .. i would'nt make much complain as long as it's on a range like $1 to $5 , that's okay. Still of course a free stuff always something that everyone wanted Grin

.

Haunebu

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Majority of the gambling sites that I gamble with charge little to no fees which is why this was never an issue for me. I usually withdraw only after I win a decent amount and I never faced any problems with withdrawals whatsoever.

Exchanges are far worse in comparison charging hefty fees whether BTC value is low or high. Gambling sites are much better in comparison.

sana54210

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Quote from: barbara44 on August 29, 2019, 10:11:01 AM

Quote from: sana54210 on August 27, 2019, 08:41:24 AM

Of what use is having a withdrawal fee, this people make a whole lot of money from gambling, aside what I might have won, they have gained from so money losers. It should be made free, there’s no point having a withdrawal fee, whether fixed or based on percentage.

I remember my friend called me greedy some time ago because I mentioned this and to them, this is a way the casino sites can also generate money. I understand that the casinos given us a great gambling platform is a privilege but this is not a good reason to start having a fixed charge when it’s time for withdrawal, they could do it free for players as compensation for having them on the site.

I think that is exactly who you are and your friend is definitely not wrong. It is a business for crying out loud and it wont be wrong if they use any means possible to make their money after all, they didn’t force anyone to play on their site, you chose to do so, so you should be willing to keep up to their rules and standards.

The only aspect I am not too cool with on gambling sites is having a fixed amount. This wouldn’t give players the right to other options, I sometimes wish i had options to choose from sometimes when I am to withdraw and I feel bad having to accept the stated percentage been requested by the site without considering gamblers opinion.

I don’t think I understand your definition of greed in this context. What is wrong is one desiring a free withdrawal fee and how that affect gambling business does. Are you aware that this people make a hell of money from gamblers or do you know what it means to constantly loose to a casino site? I want to believe you have never lost if you have, you will understand where the upper poster is coming from.

Basically, I would support any kind of fee, I would prefer there is no fee at all or very minimal. The most annoying ones are the fixed fees. This one to me is wrong, I think leaving players to options is more preferable.

Tungsten-1

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Quote from: nutildah on September 01, 2019, 02:00:38 AM

"Free" should be standard for any decent casino. I can live with incredibly low and fair withdrawal fees, like Bustadice, but free withdrawal is ideal.

Other casinos (in addition to FortuneJack) that I use that pay your withdrawal fees:

BetChain
BitcoinPenguin
Nitrogensports (one per week)

Don't know about many others...

Fee may actually vary from casino to casino. Like we have different fee being charged on different crypto exchanges. Same is the case with casinos too. One providing great services will charge you a bit high as compared to the one that does not provide you great services. I think there should be a set amount of it to be charged. It could also increase with rise in the cost of operations of casinos.

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Quote from: efialtis on September 01, 2019, 04:44:30 PM

I also believe that withdrawals should generally be free, unfortunately many of those gambling operators still charge. My main bookie does not though and no fees is one of the reasons why I prefer to place my bets over there.

Ideally, fees will be considered when you move a huge amount of BTC or whatever it is as a service charge. The same thing it happens in making a ride with a passenger jeep which we pay for after we brought us into our destination. Fees are what it helps them to survive, only we ask for a small charge and it will be fair for everyone and in both parties.

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I also believe that withdrawals should generally be free, unfortunately many of those gambling operators still charge. My main bookie does not though and no fees is one of the reasons why I prefer to place my bets over there.

rdluffy

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In my opinion the most right thing to do is to let the user choose the fee like a regular wallet
If you need the money fast, pay more fees, if you can wait some time, just reduce the fees and you should be fine

I don't like the idea of high and fixed fees, in gambling sites and in exchanges to

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Quote from: mindrust on September 01, 2019, 01:18:14 PM

Withdrawal fees should be zero. No matter what the coin is. If your business can't handle those fees, it means you are not making enough profits and you need to try harder.

Some exchanges/casinos I know has either zero or close to zero fees which means it is possible. Whenever I see that $5 fee on btc, I starting to think that casino/exchange/whatever is trying to scam me because I definitely know it doesn't cost $5 to move bitcoins.

it is possible to have withdrawal fee of almost zero if they are using the lightning network. but if not, expect that they will charge you at least 5ksats. but the normal rate they are charging is in the range of 10k-20k sats.
more than that, start thinking why they are charging high fees. and if its not reasonable, stay away from that site. they might be doing something wrong in their operations.

mindrust

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Withdrawal fees should be zero. No matter what the coin is. If your business can't handle those fees, it means you are not making enough profits and you need to try harder.

Some exchanges/casinos I know has either zero or close to zero fees which means it is possible. Whenever I see that $5 fee on btc, I starting to think that casino/exchange/whatever is trying to scam me because I definitely know it doesn't cost $5 to move bitcoins.

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Quote from: noormcs5 on September 01, 2019, 10:31:34 AM

Quote from: nutildah on September 01, 2019, 02:00:38 AM

[snip]

You will not find many casino where you get no withdrawal fee other than the ones you stated above. The casinos make a lot of money and it should not be hard for them to pay this transcation fee. I remember in early 2016 when i used online wallet XAPO which used to give Tx free withdrawals but then as the bitcoin prices started to rise, it was no longer feasible for the companies to bear this fee.

Well, that is right. Every online casino has a withdrawal fee but before we deposit try to look first the Tos of the sites or even the FAQ so we know how much the fee they are going to deduct on your transaction in withdrawal. No one gambling site will cover the TX fee even though they will earn profit already on the site. Indeed, for me fixed low withdrawal fee is considered fair for me, no matter bitcoin price will up or down the fee is already fixed.

Topic: What withdrawal fee do you consider as fair in gambling sites? - page 2. (Read 772 times)