So I had 2 withdrawals to make, one for 3k and the other about 2k. And they make it silly because check is 3k max, btc is 2500 max.. So I mean you gotta take it broken up. Anyways I can't complain to much about checks they process and are on my door the next morning. Like 2 days overall..
I cashed out via btc on the 11th I believe and on the 12th I get this message
"
We are contacting you from Slotocash Casino.
Your Payout was canceled in error. We ask that you kindly re-submit your payout request as soon as possible.
Should you have any questions, please do not hesitate to contact us.
Kind Regards,"
No explanation at all, just that. I go and resubmit it right away pretty much and the last update was the 13th....and still nothing.
I mean I thought btc was the almighty speedy way to get funds these days? It's so frustrating because i can't even deposit there until a cash out processes.
Just feels they're doing their best to get me to cave and for an accredited casino I think that's pure garbage
My understanding is they have a 2 day pending period for all withdrawal types, is that not the case for checks? So the earliest a withdrawal could go through would be tomorrow since they don't work weekends. Of course they should have waived that pending period because of their own screwup before...
Bitcoin SHOULD be a very fast method for US facing casinos, it should be by far the cheapest option, and it should be much easier than the workarounds they have to do for the US banking system which could always just shut them down at some point.
But... for some reason casinos seem to be having problems with it now, not sure why. Delays for unknown reasons, and it seems like half of casinos are screwing you over on the exchange rate, but due to how bad support tends to be you can't really do anything about it. For example, let's say if the current price is $8800, but the casino cashes you out as if the amount were $9000. Did they just snip an extra 2% off for themselves, or did they process the withdrawal at a time when the exchange rate was $9000? This seems to happen pretty regularly - most of the time working against you - but they don't provide exchange rates or times of exchange so you can't really do much about it.
Sloto group in particular, I've suspected they might give you the worse rate between when you withdrew and when you receive your money - considering that could be several days, that could be a significant problem. But I haven't had enough cashouts to prove anything, when I won at fairgo I did have two withdrawals that were off by around 10% though - one they credited the difference, one they did not. Trying to talk to support who are 99% of the time clueless about how exchange rates work and give you scripted answers about not being responsible for bitcoin fluctuations is a pain.
An easier to prove example which I think is true, slotocash group has a 15 minute "conversion rate guarantee" for deposits - sounds good, right? But if it takes longer than 15 minutes for your deposit to confirm, the exchange rate change can only work against you. If bitcoin price goes up, you just get the original exchange rate. If bitcoin price goes down, you get less than the original rate. Would be nice if others could confirm if they see this behavior happening as well, because if people understand what I'm talking about, it's a pretty scummy way of doing things. So probably most people won't care, which is why they do it I guess.
Another example, superior casino - which I think I'm going to to retire my account at - seems to round to the nearest mBTC? In other words, basically rounding down to the nearest $8 or $9 (the rounding has always appeared to go down). It's really weird to get a withdrawal of say, exactly 52.00000 mBTC, I don't know what they're even doing.
So yeah, bitcoin SHOULD be an incredible processing method for US casinos - if players don't mind risking the BTC fluctuations - but at this point I don't know that I would still recommend it to people if they aren't already using it. It's also ridiculous that casinos still use the same withdrawal limits as for traditional USD methods, since they no longer have any good excuse to hold onto your money for long periods of time - but of course they want to hold onto your money so you'll play it back.
I thought about making a thread about some of these things before, but I think it would be tough to get many people to care.
I would say to check the exchange rates received at withdrawal just in case, but it's unfortunate that you can't just assume you'll get paid out properly.