This kind of comment has always irked me. Whilst we (operators) take payments 24/7, in reality the cash doesn’t arrive instantly. In fact we credit funds immediately when in reality the payment takes much longer.
As an example, the payment processor we use only settles once a week on a Tuesday, so any card deposits made after 00:01 on a Tuesday actually don’t reach our bank for a week!
Deposits not arriving instantly is not relevant unless you are waiting for a players deposit to clear before processing a withdrawal. Your concern should be that the player isn't going to chargeback or something, it would be sad if the casino lacked liquidity to advance players their cashouts for the current week. And for the casinos we're talking about, it's often cryptocurrency, so the casino absolutely does have the deposit. If a casino wanted to be sure a deposit cleared a bank or other system before processing a withdrawal, that would be understandable, but that's not what we're talking about.
Casinos do have a valid reason to wait for business days to actually process withdrawals in that they sometimes need to manually verify some things and may not hire a staff to do this on weekends.
However, that doesn't really apply to the two day mandatory waiting period on withdrawals before a casino even looks at it to start the withdrawal process. In fact that could push your withdrawal from a weekday (where staff is available) to a weekend where staff is not.
Let's be realistic, the reason for that is so that players lose the money back. Not all casinos have these mandatory waiting periods of course. For the slotocash/deckmedia group, it's very obviously part of their business model. They offer fairly generous deposit bonuses to players around the clock, and players getting impatient and losing all the money back certainly helps them run the business that way.
Players have complained about it for years, the business has been run that way for years. It's a bit annoying, but it's going to remain the way it is unless it starts driving enough players away. The player just needs to decide if they're okay with that additional waiting period before they decide to play there. Different casinos tend to have their ups and downs. For example, players could go to casino extreme instead and get instant withdrawals but they would get worse paying slots in exchange.
Curious if there is anyone that has created a formula for this variable and what the % actually comes out to
You mean how much the casino stands to make from a typical deposit? Most casinos are never going to tell that unless forced to, they do like to claim that it's very tough for a casino to make a profit though. Obviously, if they said they were just raking in easy money hand over fist the players the players probably wouldn't feel too great about that, would wonder if the games were maybe a little too tight, the promotions lacking, the service not satisfactory if they're making so much money. I'm sure some casinos just scrape by while others are making an absolute killing.
Plus was paid out 100% in less than 30 seconds to my ETH wallet.
