Bitcoin transfers may not always be instant. Players often get nervous if they send a large amount to a casino or withdraw a decent win, but the money can be seen nowhere.
Normally, casinos require 1-2 confirmations from the Bitcoin network before crediting your deposit. The average time for one confirmation is 10 minutes. This is not a fixed value, though, so it can be both higher and lower. For example, sometimes two confirmations come one after another within a few minutes, but it also happens that one confirmation doesn’t appear in more than an hour.
Here are the factors affecting the speed of Bitcoin deposits to a casino:
- Miner’s fee. The higher fee you set, the higher priority miners will give to your transaction and, therefore, the sooner they will add it to the network.
- Current load of the bitcoin network. If the bitcoin network is heavily loaded, even an increased fee may not help, or you will have to set it really high. In some cases, during peak periods, low-fee transactions get a confirmation only after several days in the queue.
- Variability. As stated above, 10 minutes is just the average transaction processing time. If the miners are lucky enough, they will be able to confirm your transaction quickly, otherwise, you will have to wait.
- Delays in sending. If you use a personal wallet, then the transaction will be immediately added to the processing queue. If you use a third-party wallet, such as an exchange, it depends on how quickly the service operator sends your transaction. Exchanges can subject transactions to additional checks or process withdrawals at a certain time of the day. If your deposit does not appear in the casino for a long time, it makes sense to find out if it was sent at all.
When withdrawing money from casinos with Bitcoin, in addition to the abovementioned factors, the approval speed by the casino affects the waiting time as well. If the withdrawal is delayed for unknown reasons, you may need to verify your account and contact support to find out details.
To speed up your deposits and withdrawals, we recommend using the alternative cryptocurrency Litecoin. Transactions with it are confirmed faster and cost less.