Why i have started using ETH instead of BTC in sports betting (Directbet)

Ziskinberg

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

Unfortunately my sportsbook does not accept alcoins, but I like what you do sharing where we can save in gambling. it could actually help if you are a regular gambler since you always have to make a transactions, I also notice that the fees are not that cheap but honestly I do not calculate it, my mind is focus on winning and nothing else. But anyway thanks for sharing, I might try directbet although there are only few odds offered on my favorite game.

icecum

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sometimes i avoided btc if bet in directbet.eu for me bet in doge is the best choice, low fee and fast confirmation,, the problem is rate exchange for doge quick fall apart Sad

win some coin but if calculate still the same value the last btc i have Undecided

piloder

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Quote from: Wendigo on April 17, 2017, 07:03:33 AM

I have been using Dogecoin and you can move funds around for less than a cent. And the confirmation time is very fast as well. I prefer betting with alt coins rather than Bitcoin.

Nice suggestion @wendigo i may start buying few doge to bet afterwards along with ETH that i have right now.

Quote from: Red-Apple on April 17, 2017, 09:45:58 AM

there are no SPV wallets for ethereum, so you either run a full node (a big size on your HDD and a big chunk of your network traffic) or keep on gambling site or on exchange wallet! i think the risks are obvious.

Quote from: lite on April 17, 2017, 03:57:57 PM

aren't there any online wallet or wallet like electrum for ETH?

No there are many SPV wallets like jaxx and bit.ac, but i am using Jaxx mobile wallet to save on fees and to have full control over my ETH. You can also use myetherwallet.com as SPV wallets but process of sending ETH could be lengthy process.

Thanks all of you guys for suggestion on using LTC and DOGE to save more fees.
I think i should keep this thread open for more discussion and suggestions on this topic.

adroitful_one

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Exactly. Didn't even have to read the post to know it's because of the fees. I've even been trading all my btc from exchanges to doge and withdrawing them because it's a lot cheaper. Only a few doge to withdraw as much as you want basically. You're talking $0.50 to transfer Bitcoin. It's just not worth it if you place a $5 bet on something

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Quote from: ufaiz50 on April 17, 2017, 11:20:52 PM

since many of the problems that occurred in around bitcoin transaction I started to switch from doge to gamble in directbet maybe I will try to use the ETH but value ETH is quite expensive makes me hesitate to use it and I'm not familiar to manage how the stakes.

well its really much cheaper using doge with the transaction fee and some delayed from btc with OP using eth i personally haven't tried it
yet aside from btc and doge but i will check it up like what OP said when he assess its much cheaper using eth. i'll try reviewing it thanks
for sharing your thoughts OP.

ufaiz50

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since many of the problems that occurred in around bitcoin transaction I started to switch from doge to gamble in directbet maybe I will try to use the ETH but value ETH is quite expensive makes me hesitate to use it and I'm not familiar to manage how the stakes.

vella85

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Thanks for sharing this info with us OP. I also use Directbet a lot of the time and the BTC fees were becoming a joke so I switched to using Doge coins instead. But I think I will start to use ETH as I have a few coins stashed away in a wallet that just sit there so I might as well use them to gamble on Directbet.

SaShiRaJaVu

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Quote from: Red-Apple on April 17, 2017, 09:45:58 AM

there are no SPV wallets for ethereum, so you either run a full node (a big size on your HDD and a big chunk of your network traffic) or keep on gambling site or on exchange wallet! i think the risks are obvious.

You do not need to run a full node or keep on a gambling site or keep the coins in an exchange wallet,yes by doing so there is a risk involved,but hope you have heard about www.myetherwallet.com ,you can very well store you coins using that or take a print out and use as a paper wallet. I started using ETH while wagging on directbet simply because of the increased fees in bitcoin transaction .

megynacuna

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Great idea, I almost forgot that was possible because I was recently complaining about the 50 cents transaction fees on coinbase to a friend but brevet thoughti could use the word because directbet accepts them all.

mrjoy15

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Quote from: panjul07 on April 17, 2017, 01:56:00 PM

Your decision to use ETH instead of BTC at directbet to avoid more fees is indeed nice although you can actually use their casino/playing wallet to avoid fees when placing a bet. You only need to store some funds on their playing wallet and you can use it without worrying about fees. Once you think your winning is enough then you can send it to your own wallet (also without fee) as they covers the miners fee unless they have changed it.

Yes, ETH can good option in sports betting instead of Bitcoin. There, Bitcoin fees were the main concern so as long as use ETH those betting to avoid fees simply a better choice. For me, I'm trying almost to bet with my doge, in case it save my money.

lite

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I use litecoin from time to time for gambling, haven't used ETH yet! i'm probably gonna start using ETH, because there lot more users than of litecoin and is #2.

Quote from: Karpeles on April 17, 2017, 03:17:46 PM

ETH needs a long time for syncing(when it syncs at all) and you need to tupe a password every time you want to make a transaction

Better Dogecoins or Dash, or even Litecoin, in my opinion

aren't there any online wallet or wallet like electrum for ETH?

Karpeles

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ETH needs a long time for syncing(when it syncs at all) and you need to tupe a password every time you want to make a transaction

Better Dogecoins or Dash, or even Litecoin, in my opinion

jack1111

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When I read your thread title, I recognized the reason, Bitcoin fee is a big Drawback, we usually bet with small amounts starting from 1mBTC, imagine if you want to send it from blockchian wallet.
Sometimes I use Poloniex as they offer the least withdraw fee over all other exchanges, I also use Dogecoin for some bets, but have not tried with Ether.

panjul07

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Your decision to use ETH instead of BTC at directbet to avoid more fees is indeed nice although you can actually use their casino/playing wallet to avoid fees when placing a bet. You only need to store some funds on their playing wallet and you can use it without worrying about fees. Once you think your winning is enough then you can send it to your own wallet (also without fee) as they covers the miners fee unless they have changed it.

Wendigo

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Quote from: LFC_Bitcoin on April 17, 2017, 08:50:31 AM

Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

Interesting. I've never even bought a single altcoin but after reading this maybe I need to start doing so. Where do you buy your ETH buddy?

I really like Shapeshift. All the major alt coins are covered there. Definitely recommended if you are looking for a quick exchange and don't want to mess with full-fledged exchange websites.

bering

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this is interesting and honestly it doesn't ever cross in my mind before but OP obviously right that betting with bitcoin will have high fees for each transactions and if we calculated it indeed for nothing we have to pay more expensive but as long as did sport betting or gambling i'm not regularly using bitcoin only and sometimes i use Doge or LTC for instead of bitcoin and these coin also have cheap fees for every transactions

Sniper44

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first of all why aren't you use other altcoins with much more stable price. coins such as Dogecoin which is practically free to send the fee is like 1 Doge (20 something satoshi) or litecoin witch is a lot cheaper and much more stable and more trusted.

we never know when ethereum is going to crash and price drops down. and this is actually very scary right now as the price is in a bubble after the pump of it.

Quote from: piloder on April 17, 2017, 03:47:34 AM

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

no because thankfully fees have never been an issue for me. i always pay a small amount and get my transactions reasonably fast confirmed.
and if i want it faster i use ViaBTC accelerator for free.

ralle14

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

I haven't because I can't track them down but I feel like I spent more than $5-$10 in fees. I've been using them for quite a while because of their live betting. I really don't mind about the fees for now as long as they don't reach like up to a $2 per bet.

Red-Apple

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very interesting but here are the list of problems with this:

most of us have bitcoin not ethereum so we have to go ahead and buy it.
buying it means paying 1 fee for depositing bitcoin to exchange and 1 fee for exchanging bitcoin for ethereum then 1 fee for withdrawing ethereum.
there are no SPV wallets for ethereum, so you either run a full node (a big size on your HDD and a big chunk of your network traffic) or keep on gambling site or on exchange wallet! i think the risks are obvious.
finally price of ethereum is very volatile so in fact if you buy lets say $100 worth of ethereum, it can go down in a dump and you lose more than $10 fee that you saved up.
and last but not least, the spam attacks on bitcoin network usually don't last long. it is over now for instance. and right now if you send a tx with small fee it will be confirmed fast.

BlockEye

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OP has a bright idea here. Actually i already used ETH on Directbet and Bitsler since it has low fee required for transaction compare to bitcoin which needs a expensive fee so that your transaction will get faster. I think the time has come for the ETH to stand up since the bitcoin confirmation nowadays are very slow and time consuming. I hope that some major casino will adapt ETH as currency so that it will less hassle on transferring funds.

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

I find gambling with altcoins better because of fast transaction, fees are not so important to me because if I pay higher fee than i will gamble with lower bankroll. I don't think few bucks can make any difference. Also i think altcoin price may drop over night and you will lose more money than you will lose it with btc even if you pay higher fee.

LFC_Bitcoin

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

Interesting. I've never even bought a single altcoin but after reading this maybe I need to start doing so. Where do you buy your ETH buddy?

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

Actually here the loss in your transaction charge to make into less is not a better way to adopt ETH for gambling Because still the ETH is chargeable 1-2% which is not a small amount , here I will suggest to made gambling at those sites where in single deposit and make any numbers of bet according to your need , I mean to go for the Gambling sites like cloudbet.com .
If you bet amounts are really big then Ofcourse betting with ETH is more profitable ( from the view of the point of transaction fee according to as what bitcoin charge ) .
Well here I think it would be more better in the future if we will have any option for the doge coin gambling Wink

, then every bet will be free of charge and we will get loss in the loss of bet only

BCTBF

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Quote from: Wendigo on April 17, 2017, 07:03:33 AM

I have been using Dogecoin and you can move funds around for less than a cent. And the confirmation time is very fast as well. I prefer betting with alt coins rather than Bitcoin.

yeah and I think this is just to taste a bettor, and this is also an essential input for all bettor, and all return to your tastes. Cheesy

emberbekas

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

I made an account at casino.directbet so I can use it to bet at sports with no fee. This is the best way to avoid transaction fees while playing with bitcoin at directbet.

Wendigo

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I have been using Dogecoin and you can move funds around for less than a cent. And the confirmation time is very fast as well. I prefer betting with alt coins rather than Bitcoin.

BCTBF

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

I think if you keep btc in your wallet at casino.directbet.eu, then you bet on directbet, I think you would not think about transaction fees. as far as I know at the casino.directbet.eu does not use fees on the withdrawal.

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

This is the reality of the loss in the Gambling at directbet , due to this reason of transaction charge I don't like directbet , and make gambling at nitrogensports and cloudbet.com .
Here this is reality that you can save with ETH if you want still gamble at directbet , Because fee of the bitcoin is really high according to the input transactions numbers of that bitcoin .
So here if you like directbet more than any other then ETH is really a Better way for the saving of the transaction charges .

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

It's true that in situation when each beat requires a transaction, it's better to use altcoins like Ethereum to reduce fee costs, but when it comes to classic casinos with deposits, you can just depost a larger sum and use it as your bankroll over longer period. Using altcoins for such purposes might be riskier, since they are more volatile than Bitcoin.

bitcoinisbest

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Thanks OP . This is really a nice thread and idea given to all those who bet and use block chain etc where the fees for sending btc is high. Actually what you are doing is the best way to save alteast on fees even if you win/lose the bet that is different thing.

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Quote from: piloder on April 17, 2017, 03:47:34 AM

Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

I don't own any ETH yet but from what you are explaining maybe I should learn how to get ETH , buy it or mine it. In fact I rarely play at directbet because of the fees, I like having an account with Nitrogen that I only pay fees only when I deposit and keep playing with that amount, I don't need to pay fees every time like I need in directbet. Directbet has more games to choose from so I am already starting to learn about ETH.

piloder

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Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing.

I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days. Grin

Have you ever calculated how much you could loss in bitcoin fees while betting with directbet?

Topic: Why i have started using ETH instead of BTC in sports betting (Directbet) (Read 795 times)