Pages:
Author

Topic: What withdrawal fee do you consider as fair in gambling sites? - page 3. (Read 772 times)

legendary
Activity: 3500
Merit: 1354
Upto 0.0002btc seems to be a fair amount for withdrawal.
For me the amount needed for withdrawal is not really the problem, the idea is to successfully withdraw

You got a point here but example what if the gambling site has a high withdrawal fee let say it's 0.001 or higher , would you still like to withdraw on that site ?  The fees that i state as an example is possible and could be much higher than that if ever btc price rises again  .  

The amount of the withdrawal fee do actually matter dude  .  

The fee that I prefer should be around 1ksats or higher but it shouldn't be above 10k sats because that is already expensive anymore on my side  .
We cant really say that withdrawal fee doesn't matter yet not all gamblers would really be willing to pay up ridiculous fees.Knowing that not all gamblers
are rich nor wont care about the deduction of fees.Some of them will really keep an eye to this or considered as an important factor because high fees isn't
really that relevant on the possible small profit that they would able to win or make.

The withdrawal fee amount does matter the gamblers.  When the fees is high many gamblers will not like to withdraw the amount from the gambling sites often.  They prefer to keep their winnings and savings within the gambling sites which is in one sense good for the gambling sites itself.  Secondly if anyone want to withdraw small amount like $30 - $40 and paying $10 as transaction fee is not practically feasible.

It does matter, when the fee is too high then gamblers wont even play on the site. Keeping or saving your bitcoin on the sites wont change anything as most likely you will gamble it away. Luckily, most gambling sites are now charging low withdrawal fees only so it wont be a big deal for gamblers to withdraw small amount of money. There are also some sites with no withdrawal fee at all, hopefully all gambling sites will charge no fees in the near future.
legendary
Activity: 3346
Merit: 1914
Shuffle.com
When Bitcoin was around 3000 to 4000 dollars the gambling sites just 0.001 or 0.0005 BTC as withdrawal fee.   That was quite normal and justified.
But then Bitcoin reached 10000 to 12000 dollars and they still charge the same amount of fee in satoshi value which amounts to $10 to $5  which is quite high.
I think with the current Bitcoin price, the withdrawal fee should not be more than 0.0002 BTC.
Gambling sites don't adjust their withdarawal fee in terms of the current price, they only adjust it if their fixed fee isn't enough for most transactions.

But most sites that i've used have a very low fee and those who can charge a very high fee(above BTC.0005) usually have an option to use smaller fees.
hero member
Activity: 2268
Merit: 669
Bitcoin Casino Est. 2013
I will consider it fair if a gambling sites have low withdrawal fee when you want to withdraw your funds. In my opinion, they can still earn profit even if they don't have withdrawal fee or low withdrawal fee since most gambling sites are in their favor in terms of earning money so it is fair enough for gamblers to pay less fee or no withdrawal fee.
hero member
Activity: 2814
Merit: 618
Leading Crypto Sports Betting & Casino Platform
"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...

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.
legendary
Activity: 3010
Merit: 8114
"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...
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
We do only prefer 2 option which is;
-Dynamic
-Fixed low fee

I have seen some gambling sites that do have fixed fees no matter what the situation of the entire network specially going from high to low.


Even if you place of fixed low fee  as a withdrawal fee,  it may not fulfill the purpose because of the Bitcoin prices volatility. It is much better if the withdrawal fee is calculated in terms of dollars like there should be a fee of 1 to 1.5 dollars and it can be converted to the current Bitcoin prices at the time of withdrawal.  This method will be fair enough for the gamblers and the sites also.
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.
hero member
Activity: 2422
Merit: 875
We do only prefer 2 option which is;
-Dynamic
-Fixed low fee

I have seen some gambling sites that do have fixed fees no matter what the situation of the entire network specially going from high to low.


Even if you place of fixed low fee  as a withdrawal fee,  it may not fulfill the purpose because of the Bitcoin prices volatility. It is much better if the withdrawal fee is calculated in terms of dollars like there should be a fee of 1 to 1.5 dollars and it can be converted to the current Bitcoin prices at the time of withdrawal.  This method will be fair enough for the gamblers and the sites also.
sr. member
Activity: 2030
Merit: 356
Upto 0.0002btc seems to be a fair amount for withdrawal.
For me the amount needed for withdrawal is not really the problem, the idea is to successfully withdraw

You got a point here but example what if the gambling site has a high withdrawal fee let say it's 0.001 or higher , would you still like to withdraw on that site ?  The fees that i state as an example is possible and could be much higher than that if ever btc price rises again  .  

The amount of the withdrawal fee do actually matter dude  .  

The fee that I prefer should be around 1ksats or higher but it shouldn't be above 10k sats because that is already expensive anymore on my side  .
We cant really say that withdrawal fee doesn't matter yet not all gamblers would really be willing to pay up ridiculous fees.Knowing that not all gamblers
are rich nor wont care about the deduction of fees.Some of them will really keep an eye to this or considered as an important factor because high fees isn't
really that relevant on the possible small profit that they would able to win or make.

The withdrawal fee amount does matter the gamblers.  When the fees is high many gamblers will not like to withdraw the amount from the gambling sites often.  They prefer to keep their winnings and savings within the gambling sites which is in one sense good for the gambling sites itself.  Secondly if anyone want to withdraw small amount like $30 - $40 and paying $10 as transaction fee is not practically feasible.
hero member
Activity: 2814
Merit: 618
Leading Crypto Sports Betting & Casino Platform
Personally I prefer the primedice approach: fixed low fee and in case of clogged mempool the site "take the hit".

I also accept a dynamic fee based on mempool state, or a priority approach (pay more if you are in a hurry)

What I do not consider fair is when only a huge fixed fee is proposed, like 0.001 BTC. That really discourage crypto gambling in my opinion.

When Bitcoin was around 3000 to 4000 dollars the gambling sites just 0.001 or 0.0005 BTC as withdrawal fee.   That was quite normal and justified.
But then Bitcoin reached 10000 to 12000 dollars and they still charge the same amount of fee in satoshi value which amounts to $10 to $5  which is quite high.
I think with the current Bitcoin price, the withdrawal fee should not be more than 0.0002 BTC.
hero member
Activity: 2184
Merit: 531
The variable rate based on the current network fees is fair for both the client and the casino. I also like 2 options which are instant withdrawal higher fee and a lower fee delayed withdrawal. It's all fine as long as you can see they aren't trying to rip you off.

You can spot a site ripping you off if you go to https://bitcoinfees.earn.com/ and see that the next block transaction costs is x and the site is asking for 10x or 5x.
legendary
Activity: 3346
Merit: 1914
Shuffle.com
I am hearing this about fortune jack for the very first time and i must confess they are awesome for this singular act. I always heard of the site but never visited but this is act just got them a new player and i will do well to recruit new gamblers on that site.

It has been my wish that gambling site makes the withdrawal fee free, it doesn’t reduce the site in any way. These people make good money and not collecting fee from withdrawals will not affect the sites growth in any way and moreover this would even make more gamblers want to play on the site just like i am about doing now. I have just become a big fan of fortune jack for this single news i have heard about them.
On fortunejack they have a rollover on deposits the profit they get from those rollovers would easily cover the withdrawal fee so it's unlikely they'll be affected by the free withdrawals.

I think depending on how much the withdrawals is,because what if you get to win the jackpot and still 20k Satoshi ?thats even lower and unfair for the gambling site
Maybe better if that’s the minimum fees and may occur changes depend on how much The withdrawals and I guess maybe 2-5% of the total amount is enough for me,and also enough for the site as well
Having 2% - 5% of the total withdrawal as transaction fee isn't good for the players it's similar to a fix fee and to have a higher fee you're forced to withdraw more..

sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
Personally I prefer the primedice approach: fixed low fee and in case of clogged mempool the site "take the hit".

I also accept a dynamic fee based on mempool state, or a priority approach (pay more if you are in a hurry)

What I do not consider fair is when only a huge fixed fee is proposed, like 0.001 BTC. That really discourage crypto gambling in my opinion.

One thing that avoid in gambling sites is wherein the fee is proportionate to your total cash-out value. At hindsight, one might think that the fees are low but it starts to skyrocket once you deposit cash, gamble, and withdraw in a consistent basis.
As for my standards: I only look for these two (2) specific qualifications in terms of withdrawal fee:
  • Fixed withdrawal fee and;
  • Active community and customer service
.

Without those two qualifications, I would seriously consider my decision and eventually, move on to another gambling site. But I am highly flexible when it comes to these qualifications though.

Proportionate fee doesn't depend on the value of your withdrawal its just based on the current memepool status,so you will get less fee when the memepool is empty.Even if it is clogged then low chance to pay a withdrawal fee like 0.001BTC for a transaction so you need to consider your terms while looking for the gambling sites.
legendary
Activity: 2436
Merit: 1104
0.001BTC=10$
In my country I can feed my self with that for a week. 10$ as a fee is too much. I know there are sites that has a high fixed fee
and I never consider playing on a site that has a fixed fee unless if the fixed fee is reasonable enough.

10k-20k satoshis is fine with me. But more than that, there should be a good reasoning why they are charging higher fees. Either the transaction is faster than a regular btc transaction or the user chose the priority level, which is the most expensive option.
I think depending on how much the withdrawals is,because what if you get to win the jackpot and still 20k Satoshi ?thats even lower and unfair for the gambling site
Maybe better if that’s the minimum fees and may occur changes depend on how much The withdrawals and I guess maybe 2-5% of the total amount is enough for me,and also enough for the site as well

I think it is unfair for the player. the player doesn't get anything if they lost to the gambling site. also a gambling site rarely lose and for them to have a fixed 2-5% withdrawal rate from the
total amount of the winnings is not fair.
sr. member
Activity: 2618
Merit: 439
10k-20k satoshis is fine with me. But more than that, there should be a good reasoning why they are charging higher fees. Either the transaction is faster than a regular btc transaction or the user chose the priority level, which is the most expensive option.
I think depending on how much the withdrawals is,because what if you get to win the jackpot and still 20k Satoshi ?thats even lower and unfair for the gambling site
Maybe better if that’s the minimum fees and may occur changes depend on how much The withdrawals and I guess maybe 2-5% of the total amount is enough for me,and also enough for the site as well
hero member
Activity: 2562
Merit: 586
FortuneJack has no withdrawal fee, which is really customer friendly imo. Either that or just charge the miner fee.
I am hearing this about fortune jack for the very first time and i must confess they are awesome for this singular act. I always heard of the site but never visited but this is act just got them a new player and i will do well to recruit new gamblers on that site.

It has been my wish that gambling site makes the withdrawal fee free, it doesn’t reduce the site in any way. These people make good money and not collecting fee from withdrawals will not affect the sites growth in any way and moreover this would even make more gamblers want to play on the site just like i am about doing now. I have just become a big fan of fortune jack for this single news i have heard about them.
hero member
Activity: 2268
Merit: 789
Personally I prefer the primedice approach: fixed low fee and in case of clogged mempool the site "take the hit".

I also accept a dynamic fee based on mempool state, or a priority approach (pay more if you are in a hurry)

What I do not consider fair is when only a huge fixed fee is proposed, like 0.001 BTC. That really discourage crypto gambling in my opinion.

One thing that avoid in gambling sites is wherein the fee is proportionate to your total cash-out value. At hindsight, one might think that the fees are low but it starts to skyrocket once you deposit cash, gamble, and withdraw in a consistent basis.
As for my standards: I only look for these two (2) specific qualifications in terms of withdrawal fee:
  • Fixed withdrawal fee and;
  • Active community and customer service
.

Without those two qualifications, I would seriously consider my decision and eventually, move on to another gambling site. But I am highly flexible when it comes to these qualifications though.
legendary
Activity: 2198
Merit: 1989
฿uy ฿itcoin
FortuneJack has no withdrawal fee, which is really customer friendly imo. Either that or just charge the miner fee.
full member
Activity: 798
Merit: 109
https://bmy.guide
I personally more liked fixed withdrawal fee so whatever amount would be withdraw whether it low or high amount of bitcoin then the amount of fee will not change

As far as I know, withdrawal fee never depends on the amount you want to withdraw. I have never seen such a thing on any gambling site I was playing on. It's either a fixed one or a floating one, depending on the current Bitcoin transaction fees.

Correct, that does not depend on the amount of bitcoin that you want to withdraw. Because the withdrawal fee is already fixed on gambling site, either they will have an option lower, higher or a normal transaction fee, you can choose the higher which is expected high fees compared to normal fees(if you are in a hurry you can choose higher fees option). I don't know if 20k-50k sats will reasonable fees, probably that was a too much fee. You can always check the gambling website before having any deposit to avoid a possible problem.
hero member
Activity: 2534
Merit: 605
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.
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
I personally more liked fixed withdrawal fee so whatever amount would be withdraw whether it low or high amount of bitcoin then the amount of fee will not change

As far as I know, withdrawal fee never depends on the amount you want to withdraw. I have never seen such a thing on any gambling site I was playing on. It's either a fixed one or a floating one, depending on the current Bitcoin transaction fees.

and approximately 20k to 50k satoshi for every transactions will be reasonable for me

Those are very high fees for the current situation. Why would you agree to them when they should be 7-8 times smaller, currently?
Pages:
Jump to: