Crypto casinos and betting sites offer users a great possibility to combine two passions: gambling and digital currencies. It is possible to play a large number of fantastic games using virtual currencies and get the possibility to win large and unique prizes. But what happens when we want to withdraw our funds?
Several cryptocurrency casinos will apply a fee when you want to withdraw your funds. This is something that became very common in recent years. But is this fair? Why do cryptocurrency casinos apply withdrawal fees? In the next few sections, we will tell you all you should know about Bitcoin & crypto casinos and their withdrawal fees.
In this way, you will get all the information that you should know about how to deal with added costs when you want to withdraw your funds.
💸 Why do Crypto casinos ask for a withdrawal fee?
When we process a cryptocurrency transaction, the network will apply a fee. The fee applied will depend on many different factors, including the type of network you use and its congestion at the time of processing the withdrawal.
Some blockchain networks such as Bitcoin (BTC) or, in the past, Ethereum (ETH), have fees that could be higher than on other virtual currencies such as XRP or Litecoin (LTC). At the same time, performing transactions during periods of congestion made things even worse.
The larger the network congestion, the higher the fees will be. This happens because there is a limited block space but a large demand to process transactions. Therefore, the price to process fees goes higher (in order to process only those transactions that pay the highest fees).
Due to this reason, every single time that you request a withdrawal from an online gambling site, there will be a fee deducted from the transaction. The question that comes into play is the following: who should pay for the transaction fee? The casino or the user that requests the withdrawal?
Some casinos have decided to take some fees from the withdrawal amount in order to cover these costs related to the transaction. But what’s the problem? That in some cases, casinos tend to take a much larger fee than what is actually paid when processing the transaction. Therefore, users that tend to play with small amounts of money or that perform multiple withdrawals are those that are affected the most.
📍 Is a withdrawal fee a standard in gambling?
Withdrawal fees seem not to be the standard in crypto gambling sites. However, you will find multiple casinos that will definitely apply a large withdrawal fee to your transaction. Hence, take that into consideration when searching for a new crypto casino to play at.
Therefore, we can confirm that withdrawal fees are not the standard. Indeed, some gambling sites will offer users free withdrawals, independently from the fees that apply to blockchain networks at a specific time.
Generally speaking, fiat casinos tend to cover withdrawal fees themselves and do not request users to pay withdrawal fees. This is quite important as you will be able to play and withdraw funds without having to be worried about possible costs related to taking your funds away from the casino platform.
Nonetheless, these fiat casinos tend to apply some types of fees to traditional withdrawals (not relying on digital currencies).
🤔 Why is it worth choosing Bitcoin gambling websites with free withdrawals?
There are many reasons why you should search for and choose crypto gambling sites that do not apply withdrawal fees. Let’s understand what you want to do. If you want to play at an online casino and you are expected to lose all your money (i.e. you just want to play until you end up without funds), then you should not care about withdrawal fees.
But we all know that there is a possibility of winning. This is why you want to have withdrawals activated at an online casino. If you win or if you just simply want to withdraw your funds for whatever reason, then you should search for an online casino that offers you this possibility.
Free withdrawals will be a great option for those users that play for some time, and then withdraw part of their funds or their winnings. Paying a withdrawal fee every single time you process a transaction is going to have a negative impact on your budget, especially if you are not a highroller.
Additionally, if you rely on casinos that have free withdrawals, then you can be sure that you will be able to move your funds more often, giving you more control over your digital currencies at any given time.
✔️ What Crypto casinos have free withdrawals?
Over the last few years, I have tested almost all popular crypto-gambling sites and I have also checked the withdrawal fees applied by each of these platforms. Therefore, I have created a list based on my personal experience that will give you a clear idea of which are the best crypto casinos with free withdrawals.
Take into consideration that the list could change in the future. Indeed, it could be longer or it could get shorter. However, we should push for casinos to eliminate withdrawal fees as soon as possible, as earnings for these platforms should come from running a reliable gambling operation rather than deducting fees from each withdrawal they process.
Thunderpick
Thunderpick is a crypto-focused casino and betting website. The platform allows users to deposit and play only using virtual currencies. At the moment, users can use Bitcoin, Litecoin, Ethereum and Dogecoin, among others.
This platform will also let you deposit as low as 0.00011 BTC, which is very positive. Nevertheless, your funds will be converted to Thundercoins. When it comes to withdrawal limits, you can start withdrawing funds if you have a minimum amount of €10. This casino does not apply any withdrawal fees to users.
Usually, when I see that withdrawals are free, I confirm this information with the support team. This time, they confirmed that withdrawals do not have any type of additional fee.
Playbetr
Playbetr is a great platform to play using multiple digital currencies. They offer an impressive list of digital currencies, including popular coins such as Bitcoin, Ethereum or Litecoin but also alternative digital assets such as Shiba Inu (SHIB) or Binance USD (BUSD).
One of the positive things about Playbetr is that it does not have wagering requirements for deposits. You can withdraw your funds at any moment and without fees. This is great for small players that want to have fun and then withdraw their funds back to their wallets without having to be worried about withdrawal fees.
Nevertheless, there is something to mention about this online casino. When you withdraw funds, you will have to pay your portion of the withdrawal fees. That means that the transaction fee will be paid by you when you process a transfer from the casino platform to your wallet. In my case, it was a miserable and fair amount that was fully used to process the withdrawal.
If transaction fees are high and the network is congested, then you are expected to pay a larger fee. However, if you use a smaller crypto with lower transaction fees, then you should be ready to play and have a nice time using this crypto gambling site.
Foggystar
Foggystar is another great option that you should take into consideration if you are a crypto gambler. This online casino supports only cryptocurrencies, meaning that you will not be able to rely on fiat currencies.
Multiple coins are supported by this crypto casino. Some of them include BTC, LTC, DOGE, BCH, ETH, XRP, ADA and USDT, among others. In the future, there could be new coins added to this platform.
You need to wager your funds at least once before requesting your withdrawal amount. This is something that most companies already do and that became a standard in the gambling industry. Withdrawals are also free of charge. Hence, as a crypto player, you should be sure that your funds will arrive in your wallet without having to pay exorbitant fees.
Justbit
Justbit is another platform that was designed exclusively for crypto and Bitcoin players. This casino is currently supporting most of the popular virtual currencies in the market with relatively acceptable minimum deposit amounts.
The issue that you will find on this platform is that withdrawals have to be larger than 0.0018 BTC. This is a very high minimum withdrawal amount, even if the market drops another 50%. Therefore, you should take that into consideration when using Justbit.
As already happens with other gambling sites, Justbit has also a 1x wagering requirement for deposited funds. If you want to request a withdrawal, then you have to make sure that you wager the funds at least once.
Justbit does not apply withdrawal fees. However, the large minimum withdrawal requirement is not ideal for small players and is something that should be changed by this online casino in the future.
Bets.io
Bets.io is another cryptocurrency-focused casino with a large number of cryptos accepted for both deposits and withdrawals. The casino is offering multiple games, which will make your whole experience even better.
Withdrawals are free of charge and the minimum withdrawal amount is also acceptable. But there is something that you should pay attention to. There is a limit on the funds that you withdraw from the platform at a time. Additionally, a wagering requirement of 3x is also in place.
While most online crypto casinos deduct fees, Bets.io decided to be different and offer free withdrawals to all users on this platform. At the same time, funds are sent immediately and on time. This will be one of the best platforms you can use if you want to make sure that you will not pay withdrawal fees.
📢 Conclusion
There is a large number of cryptocurrency casinos that let users enjoy a unique gambling experience, including withdrawing funds without paying fees. Nevertheless, there are multiple platforms that will require you to pay a small fee every single time you want to send funds from the platform to your personal wallet.
It would be ideal for the industry to start implementing free withdrawals. Several crypto casinos are already doing so. Therefore, many other platforms could follow the same trend in the future and let users withdraw funds without having to be worried about the fees that they have to pay when they request a withdrawal to their own wallets.