Problem with a fixed fee is when its not changed after BTC price changes greatly as we all know it can in some years. An old website I used to use alot did not change their withdrawal fee in over five years, hence it was something unbelievable like 0.1 BTC to withdraw. Even on the December low I could never contact them for a withdrawal without spending time to negotiate for something more reasonable. Basically the place was shuttered, they didnt want to deal with small fry.
The real question I think is about speed, people should be allowed to withdraw at lowest slowest cost. If you also want 'instant' withdrawal then you take the hit and maybe it would be $10 but I presume if you are a fast money guy then 10 dollars is fine so long as the service to withdraw is also instant delivery.
I would relate this to cash machines, some are free in some countries and some cost a small fortune depending on the currency and the cash used, location and so on. If you want convenience then its always going to cost some. I would like the pauper option to always be there for the people withdrawing scraps from their account, perhaps because they went broke which happens to everyone at some point in life. Not everyone can phone the parents for a small loan of 1 million, its nice to provide a fallback option for people ideally.
The other idea is alt coins, some of which are very cheap to transact.
Topic: What withdrawal fee do you consider as fair in gambling sites? - page 6. (Read 767 times)
I'd gladly wait for my withdrawal to be batched with others if I don't have to pay for the withdrawal fees like FortuneJack's system, even if it does take a little while for my funds to get sent out. Allowing customers to withdraw through this method or to pay a fair rate at something like 0.0005BTC-0.001BTC or potentially dynamic fees based on data from a site like https://bitcoinfees.earn.com/ for immediate withdrawal would work well too, though to my knowledge no site does this yet. I might be estimating on the higher side for immediate withdrawals considering I'm used to Bitmex withdrawal fees, but it's fair for a quick withdrawal IMO.
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.
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.
I think acceptable fees are 0.001 btc , 0.0005 btc then 0.0002 btc and below like for me this is affordable so this are fair for us users
Still i think better if the fee is only low like every transaction of btc because when we deposit in their gambling site because we already pay for that then actually i don't like to pay every withdrawal like i want one fee only for 3 times withdrawal
There should be no fixed withdrawal fee,and the only fee should have to be collected it miner fee which sounds good because gambling sites already making through bets then why they are making few bucks via withdrawal process which is really not necessary. Still i think better if the fee is only low like every transaction of btc because when we deposit in their gambling site because we already pay for that then actually i don't like to pay every withdrawal like i want one fee only for 3 times withdrawal
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.
-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.
Basically we have 3 options, one missing option is the "free one". There are still some sites charges no fees on withdrawal such as sportsbet.io and fortunejack. For me, as long as the withdrawal fee is reasonable enough compared to the mempool then I can say that it is fair. Reasonable means that is not much higher compared to the latest fastest and cheapest fees for the transaction.
Win-win solution fee should be the dynamic fee imho, so players can choose which priority fee for their withdrawal.
i think on fortunejack there is no withdraw fee ?
But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
Which casinos charges fees that high? Most casinos that I know charges fees lower than BTC.001 But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
. Ps: I'm not shilling.
The withdrawal fee I consider to be fair will be 10k sat - 50k sat but only some gambling websites which use that amount of the fee to send the withdraw. Sometimes the fee will be bigger because I have that experience in the past, but I don't mind as long as the bitcoin amount can arrive in my wallet without waiting for a long time. But for 0.001 btc as the withdrawal fee will be too big and I don't think that gamblers will comfort with that because their money will reduce to big too.
With BITCOIN gambling it should be a common norm to not have to pay to get your money
This is why I use sportsbet and bitcasino which are both casinos who dont charge not even a single satoshi to get my money
And I can withdraw my money unlimited amounts of times
This is why I use sportsbet and bitcasino which are both casinos who dont charge not even a single satoshi to get my money
And I can withdraw my money unlimited amounts of times
I think acceptable fees are 0.001 btc , 0.0005 btc then 0.0002 btc and below like for me this is affordable so this are fair for us users
BTC.001 is too much for a single transaction there's no good reason for a casino to charge you BTC.001 just for the fees the highest fees that I paid recently was BTC.00027 from cloudbet. But sometimes, it is disappointing if they are charging high fees and you see your transaction to have only few satoshis paid for that transaction.
But I understand that is part of the business, but they should consider also the sentiment of the players.
For me, utilization of lightning network for a certain gambling site would be a nice feature to address this high tx fees.
On nitrogensports they do it only because they're charging one free withdrawal on all their users every few weeks if they withdraw the second time they're charged with BTC.0001.But I understand that is part of the business, but they should consider also the sentiment of the players.
For me, utilization of lightning network for a certain gambling site would be a nice feature to address this high tx fees.
i think on fortunejack there is no withdraw fee ?
But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
Which casinos charges fees that high? Most casinos that I know charges fees lower than BTC.001 But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
imo, 10k~25k satoshi is reasonably fair but with certain minimum withdrawal amount
they can do batch payment every 15 minutes to make withdrawal processing even more efficient
because without minimum withdrawal amount, people will just abuse it for whatever reason
perhaps extra option (priority) by doubling the fee for immediate processing or below minimum amount
some people are willing to pay extra to get their money in their wallets a.s.a.p.
they can do batch payment every 15 minutes to make withdrawal processing even more efficient
because without minimum withdrawal amount, people will just abuse it for whatever reason
perhaps extra option (priority) by doubling the fee for immediate processing or below minimum amount
some people are willing to pay extra to get their money in their wallets a.s.a.p.
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.
Whenever I withdraw my bitcoins from a gambling site the best one is to have some options in picking the right fees between low to high because there are times when i'm not in a hurry then there's also times when I need a transaction to be confirmed in the next couple of blocks. If all of the gambling sites I use have a fixed fee the fair withdrawal fee for me is BTC.0001 or less because most of the time the network isn't busy.
Having options regarding withdrawal is really favourable to most players.
And yes, if you are not in a hurry, you can always opt to the lowest possible fee the site is charging.
But sometimes, it is disappointing if they are charging high fees and you see your transaction to have only few satoshis paid for that transaction.
But I understand that is part of the business, but they should consider also the sentiment of the players.
For me, utilization of lightning network for a certain gambling site would be a nice feature to address this high tx fees.
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.
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.
i prefer the lowest possible fee with a decent confirmation time. i doubt that a withdrawal on a gambling site is needed after 1 minute... i think all of us can wait for a few more minutes to get the payment confirmed. i hate it when casinos make a lot of money with withdrawal fees. they got their house edge to make money.
i think on fortunejack there is no withdraw fee ?
But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
Huhh, 0.001 withdrawal fee is huge and it's even bigger than withdrawing from an exchange because it's only 0.0005 BTC withdrawal fee on Binance. I would not play on that exchange if that's is their rule on withdrawing our funds. With Sportsbet where i bet it's zero withdrawal fee and should continue to attract customers. But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
0.001BTC fee? that's totally huge. I remember that I paid that much but not with a casino but with an exchange.
With the dynamic fees, we have the chance to pay the fee at a very low amount depending on how's the network doing but sometimes it also increase but not that much. And this is a very well appreciative system if you've been gambling with a casino that has this feature in withdrawal.
With the dynamic fees, we have the chance to pay the fee at a very low amount depending on how's the network doing but sometimes it also increase but not that much. And this is a very well appreciative system if you've been gambling with a casino that has this feature in withdrawal.
i think on fortunejack there is no withdraw fee ?
But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
regards
But sadly the most other casinos where iam playing have fixxed fees like 0.001 XD
regards
Withdrawal fee in gambling websites and also exchanges should be the amount they pay for confirmation. They usually consider the fees many times the fee they pay. It's not fair.
They can also allow the users to choose how much they want to pay. But they should consider a minimum amount based on network condition.
They can also allow the users to choose how much they want to pay. But they should consider a minimum amount based on network condition.
To answer your title: I think there should be a Zero withdrawal fees like sportsbet.io. They can give a minimum withdrawal requirement though.
We all knows that for a bitcoin or crypto currency transaction there should be a miner fee to confirm the transaction then how it is possible to send our bitcoin without any fee?I am not sure how sportbet was doing this? Just doing this as complementary while people withdraws and pay from their pocket?
Jump to: