Where is the money going?

I am not knowledgeable about cryptocurrency and I would appreciate any assistance. I only utilize bitcoin for depositing and withdrawing funds.

Whenever I make a deposit, I am aware that there are associated fees such as processing or network fees. I always deposit more, especially if I am using a coupon that has a minimum requirement. I had a coupon with a minimum requirement of $100 and the exchange I used charged a fee of $6.80.

My bitcoin deposit total was $120, which should have been sufficient, but when it reached my casino account, I only received $98 and some cents. The same issue arises with withdrawals at this casino. My cashout is $500, but I only receive $489 and some cents.

This only happens with Winport. They deny charging any fees for deposits or withdrawals, so where is the money going?

Thank you

This is of course unlikely, but it is possible that there is a conversion from bitcoins to dollars and then to the currency of your account, but I doubt it considering that you are from the States. But as an option.

Hello,

that's a fair question, and in my opinion, you should ask Winport casino workers. Perpahs their fees are higher than usual, or are based on the amount deposited/withdrawn. In any case, I would also consult the Terms and Condition of your cryptowallet.

Casino's terms say:

"It is important to know that merchants may charge an additional commission. The Casino is not responsible for this fee and does not profit from this money."

In such a case, I think consulting your e-wallet details would be wise.

Surely, let us know what you find out.

In July, I made 6 bitcoin deposit transactions. As the sender, I am accountable for the network fees that motivate miners to add the transaction to the next block. I reached out to the finance department about differences in the amount sent and what Winport credited to my account. The total difference for the 6 transactions was $64.56.

I began investigating this because I wasn't getting bonuses that I activated, as my deposits frequently didn't meet the minimum requirement. I will give an update as soon as I hear from them. Thank you.

The fees for crypto purchases and withdrawals can often be higher than usual. This might be due to a significant buy and sell spread, which can cause noticeable differences in costs. Additionally, network or gas fees for sending transactions can also contribute to the higher fees.

In fact, this is a necessary topic, because if we are talking about large amounts, then paying a commission of more than 100 euros/dollars is too much!

Greetings and appreciation for your research! It's certainly worth getting to the bottom of this because, as I agree with what has been said, these fees are pricey.

The others have also made great suggestions, though.

I have to admit that speculating about the possibilities can be misleading, so I will wait for your further findings first.

Surely come back with everything you dig up. 🙏

Hi Radka. Aside from contacting the exchange I use, I also reviewed the transactions on BLOCKCHAIR. Although the fees increased slightly, there was still a significant difference between the bitcoins sent and the bitcoins credited to my account. Just to be fair, I also reviewed transactions from other casinos and there are no discrepancies. It is Day 4 since I contacted Winport and I have yet to receive a response. I have never had to wait longer than a day for a reply from Winport in the past, but maybe this is difficult to explain. After reaching out via chat, the following is a snippet of what I was told. You are free to draw your own conclusions from this. Thank you.

These are just my assumptions, but it seems like they gain extra profit from each transaction. When you brought up the issue, they decided to play dumb and simply offered compensation to buy you off.

Thank you for the follow-up.👌

I really like how you started this thread saying that you know a little about crypto and have learned so much. That's great. Maybe others will also learn something from your posts.😉

Hopefully, you'll get some replies soon from them.

Are you going to take their offer, I wonder?🤔

No. I have decided to never play on their site every again. I'm moving on. I recently started playing on the El Royale Casino site and I am optimistic.

That's a wise decision not to continue there, I could say. Hopefully, you'll be better off.

If you'd like to share some of your experiences about El Roayle 👈, just click/tap on the link, and it will lead you to the casino review page.

We'll wait for another contribution of yours there.😉

This is a PSA for all players who use Bitcoin to deposit money into their online casino accounts. I have been diligently comparing the amount deposited into my account with the information on the Blockchair website, which tracks Bitcoin transactions. I regularly play at three different online casinos & there is always a difference between the amount I deposit and the amount that gets credited to my account. The casino reimburses me for the difference between what I should have received and what was actually deposited. However, I do not request reimbursement for amounts less than $5. The reimbursements have no restrictions or conditions attached. For example, in the month of August, I received $145.00 in reimbursements from one of the online casinos.

I regret not knowing more about the entire conversation subject, especially regarding US cryptocurrency casino practices.

Despite that, I'm more or less convinced user Wojciechowski is not so far from the merit. 🙂

Sadly, I have to admit there is little I can add to the debate. I guess I should get myself better informed pretty soon to keep with you here.