Topic: What withdrawal fee do you consider as fair in gambling sites? - page 4. (Read 778 times)
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 and approximately 20k to 50k satoshi for every transactions will be reasonable for me
I think, withdrawal fee should be based on the amount you want to withdraw and shouldn't be fixed.
That's not fair for those who have big withdrawals as well, the blockchain process transaction regardless of the amount and you just choose the fee you want to pay, the site knows that, usually they pay a fix blockchain fee that's why they also charge a fix fee regardless of the amount of withdrawal but they charge higher because they also make money on people who like to regularly withdraw. 
A lot of site is have a fixed pay rate but huge or small amount withdrawal is same pay charge so is better to keep small amount before withdrawing until reach the limit withdrawal for thatnis good strategy to avoid shouldering the huge withdrawal fees for every transaction we made.
Small or large fee not matters but why they keep fixed fee?They need to set the fee of actual miner fee if they want to support the people gambling in their site by doing this they are not making profits when people withdraw from their site and also it will make that gambling site to be instant withdrawal based on the fee what we are setting.
0.001 Btc?! That is too much for this recent Bitcoin price though.
If any gambling site I'm playing on make a withdrawal fee this high, that will be the last of me playing there or else if the amount I'm withdrawing is huge.
What will then happen if it is that same amount that I want to withdraw.
I think, withdrawal fee should be based on the amount you want to withdraw and shouldn't be fixed. Because some gambling sites are using fixed withdrawal fee to rip off their players.
If any gambling site I'm playing on make a withdrawal fee this high, that will be the last of me playing there or else if the amount I'm withdrawing is huge.
What will then happen if it is that same amount that I want to withdraw.
I think, withdrawal fee should be based on the amount you want to withdraw and shouldn't be fixed. Because some gambling sites are using fixed withdrawal fee to rip off their players.
0.001 BTC.
Thats 10$. Currently:Next Block Fee: fee to have your transaction mined on the next block (10 minutes). $0.30
6 Blocks Fee: fee to have your transaction mined within six blocks (1 hour). $0.05
It means that in 10$ withdrawal fee there is 9.70 $ profit for casino. Is it fair? Is gambling fair with 97 % output out of every bet on average? I'd say it's fair because you enter the game knowing its rules. You are doing it on your own free will ... unlike taxes
. For it is uncomfortable for customers and probably scares off a certain percentage of them.Rocked.run has only 0.0001BTC withdrawal fee on BTC. Mintdice 0.0002BTC. Those are good rates that customer is willing to pay without the feeling of being cheated.
It's fair for me I guess, well I don't know for the guys who withdraws with huge amounts, I think some will have slight discussions on why is it that so. For the meantime it is the best we can got and I hardly see people complaining about it, and of course in my case the site that I am using gives me what I need so it's no problem at all.
A lot of site is have a fixed pay rate but huge or small amount withdrawal is same pay charge so is better to keep small amount before withdrawing until reach the limit withdrawal for thatnis good strategy to avoid shouldering the huge withdrawal fees for every transaction we made.
Fees may vary depending on the value of Bitcoin in the market. Will it glad to have a fix withdrawal fee in all gambling sites but they never have. We have to understand how mining blocks is getting and having 0.0001btc is good to me, it is a fair price already. But it could be much better if it is below to 10k satoshi. We all know fees really matter to us and one thing we look at before we used this site.
Will pick on dynamic. But make on minimal withdraw limit because we as user know to send bitcoin for now need many for fees too. Maybe 0.0001 BTC for minimal of 0.0005 BTC withdrawal limit is already good. At least people wouldn't make a lot of withdrawal request because of that limit of minimum we can withdraw from a site. At least it is less than exchanges which usually make 0.001 BTC for withdrawal fees.
The 1mBTC fees are huge and it seems like I won't play on that site but fortunately, I've never experienced it. So far I only need to pay fees at least less than $2 and I don't think that's a problem because the instant withdrawals offered are fair enough.
I just for my first time wanted to deposit BITCOIN to a exchange that I have never used before
Lucky for me I noticed they charge a percentage of your winnings which is just absurd
who on earth would agree to want to give part of your winnings to just get your winnings
Lucky for me I noticed they charge a percentage of your winnings which is just absurd
who on earth would agree to want to give part of your winnings to just get your winnings
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.
The huge fixed fee is actually absurd. The best one is the one where we, the gamblers can decide what fee should be paid. Look at crypto-games.net. They have a slider where you can move it to set your own fee. The best part is, the also suggest you the recommended fee based on the current network situation. They also let you know that if you spend lower fees, the confirmation time will take ages.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.
Paying a fixed fee becomes totally useless for users who wishes to cash out small profits at a time.
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 .
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.
Well, that is probably fair I think if the withdrawal fee is around 2k sats. Even fixed fees but it is still low will also consider as low fees.
There are some gambling sites that you have an option of the fees. There are normal fees, low fees, and high fees and of course, it will occur what time will arrive upon of paying the fees, less amount you pay the longer time you wait. Indeed, there is a term and condition that you always search before you made a deposit.
There are some gambling sites that you have an option of the fees. There are normal fees, low fees, and high fees and of course, it will occur what time will arrive upon of paying the fees, less amount you pay the longer time you wait. Indeed, there is a term and condition that you always search before you made a deposit.
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 .
Upto 0.0002btc seems to be a fair amount for withdrawal. These days most of the gambling websites aren't charging any big fees on withdrawal. Most of the time before withdrawing funds I used to go for a roll on dice or other games to compensate my withdrawal fee.
For me the amount needed for withdrawal is not really the problem, the idea is to successfully withdraw and also the web sites should be made friendly enough to enable us make wins when necessity lol. It might sound funny but this is exactly what I feel at the moment because the experience I have few days ago have left me speechless and out of words. I lost all the money on that site and until now I cannot explain what went wrong.If that site made their withdrawal limit even 100k And I won and withdrew safely it wouldn’t mean anything to be but the withdrawal was 10k, which was not bad but I still lost all my money.
I think withdrawal fees should not be higher than than the estimations on https://bitcoinfees.info/. Users should have been given an option to choose between different speeds/fees, which, for example, currently are the following:
If withdrawal fees were 5-10% higher than the figures from the site, I would be okay with that, but they should not be several times higher because indeed, it would discourage crypto gambling, as the OP said.
If withdrawal fees were 5-10% higher than the figures from the site, I would be okay with that, but they should not be several times higher because indeed, it would discourage crypto gambling, as the OP said.
Everyone would choose the cheapest, for me, if there's a site that offers a free withdrawal, I'm sure that's gonna be an attractive gambling site.
The average withdrawal fee in gambling sites I played was only around 10,000 sats to 50,000 sats, and I understand that gambling sites not putting a free withdrawal features as with small minimum, it's expected that gamblers will withdraw from time to time, and also some gambling sites even charge higher withdrawal fee so small time gamblers would not withdraw and will just continue to play.
The average withdrawal fee in gambling sites I played was only around 10,000 sats to 50,000 sats, and I understand that gambling sites not putting a free withdrawal features as with small minimum, it's expected that gamblers will withdraw from time to time, and also some gambling sites even charge higher withdrawal fee so small time gamblers would not withdraw and will just continue to play.
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.
A big fee for gambling. I usually look for other options and look for the lower "if it exists".
Mintdice alone is low cost 0.0002BTC for economy class and that in my opinion is enough for me.
For BTC, I'm okay with a maximum of ~25k sats withdrawal fee, with the expected confirmation time below 8 hours (total). It also applied to exchanges.
If users want cheaper and faster withdrawal, perhaps it's more reasonable to use altcoins instead. BTC fees wouldn't get cheaper anytime soon, even if somehow the core dev could make some improvement, BTC won't be able to compete (in term of tx fees) with POS chains like EOS/TRX which offers instant and "free" tx since it (POS) basically a centralized but distributed database.
If users want cheaper and faster withdrawal, perhaps it's more reasonable to use altcoins instead. BTC fees wouldn't get cheaper anytime soon, even if somehow the core dev could make some improvement, BTC won't be able to compete (in term of tx fees) with POS chains like EOS/TRX which offers instant and "free" tx since it (POS) basically a centralized but distributed database.
The ideal thing to do is gambling on sites with the fixed low fee and dynamic fee. I guess that is what the "Priority approach" means. I know what it feels like when you try to transfer Bitcoin urgently & at all cost only to realize that your new wallet does not have the dynamic fee.
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