Testing ThorCasino: Should Fees on BTC Deposits Be Tolerated?

If you as a player were to give a definition of an ideal payment in an online casino, we assume that efficiency would be among the top virtues included in your description. Cryptocurrencies are associated with this noun, which is why our “From the Players for the Players” team often selects crypto-friendly casinos.

For this particular investigation, we delegated a tester to investigate how efficient ThorCasino is in handling Bitcoin deposits and withdrawals. As far as the “Payment Methods” page indicates, cashouts should be processed within 24 hours, yet not all the operators abide by (their own) rules.

Before we proceed, let’s look at the milestone moments of her investigation:

• Tester of the day: RedApple
• Registration date: April 24, 2023
• KYC documents submitted and approved on April 24, 2023
• Deposit of USD 200 (0.00731722 BTC) via Coinbase made on April 24, 2023; amount on casino account $199.32 (network fee applied)
• Withdrawal of USD 120 via Coinbase requested on April 24, 2023
• Withdrawal of 0.00434918 BTC via Coinbase received on April 25, 2023

If things are to judge by these key points, our tester seems to have experienced no issues with ThorCasino. To avoid jumping to conclusions, we shall guide you through our tester’s investigation and all the insights she shared with us, so stay with us for the full report on ThorCasino!

ThorCasino Overview

Licensed by Curacao, non-US-friendly ThorCasino is home to a wide variety of games (including sports), a solid collection of bonuses, and 24/7 live chat support. Smooth and easy deposits, fast withdrawals, and mobile-friendly gambling are just some of the advantages players can get if opting for this platform. At least that’s what the operator claims on the “About Us” page.

A thing worth mentioning is that ThorCasino runs a business under MematoGroup Affiliate Program. This company also operates MondCasino and ArtCasino, both available on our platform.

Registration and KYC

On April 24, 2023, our tester visited the official page of ThorCasino aiming to register. She filled in the sign-up form, and voila- the process was finished rapidly.

After she reloaded the page, the tester was notified that the registration was successful, meaning she could proceed with her investigation.

Following this, she completed her profile by adding some personal info. Before funding the account, she decided to supply documents for identity verification. The tester submitted the front and back side of her ID, along with a selfie with an ID.

The tester received an e-mail from the casino, which informed her that the account was verified.

With regard to ID verification, the operator’s FAQ page states as follows:

“Why do I need to send copies of my documents when making a withdrawal?

You need to send a copy of any identification document and a copy of any utility bill in order for us to be sure that it is you are entitled to that request and to approve cash out. Please understand that this is common practice in online casinos and it is for your safety only.”

Also:

“11.4 We reserve the right to carry out security reviews for any withdrawals you make and will always carry out identity verification procedures for withdrawals exceeding the equivalent of 200,00€ or such other maximum amount as may be set from time to time, and to any withdrawals of funds not used for wagering.”

Yet, paying attention to the banner on the main page, you will notice that the operator presents itself as “crypto-friendly- no KYC” platform.

Players should know that if no transaction is recorded on their account for 6 months, the account becomes inactive. In that case, ThorCasino will remit the balance either to a player or to the Curacao authority, if a consumer cannot be located.

Deposit

As soon as she finalized registration and identity verification, the tester added funds to her account. She opted to deposit USD 200 via Bitcoin. Expressed in Bitcoin, the amount was 0.00731722 BTC.

Due to a network fee of 0.00001722 BTC, the amount which appeared on her casino balance was slightly lower. The tester received USD 199.32.

To fund the account, a player can use credit cards, e-wallets, vouchers, virtual cards, online bank transfers, or cryptocurrencies. As noted, the processing time is instant or up to 2 working days, with no fees applied to any of the preferred methods. The minimum amount to deposit is EUR 20, or the equivalent amount in other currencies.

Speaking of, the operator supports a wide spectrum of currencies, such as the Euro, United States Dollar, Canadian Dollar, Norwegian Krona, Swiss Franc, Polish Zloty, and numerous cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Monero, Zcash, Tether, Binance Coin, Tron, and Ripple.

While the dedicated page indicated that no fees should be charged on Bitcoin deposits, the Terms note as follows:

“10.5 Depending on the method selected, deposits may incur charges. […]”

Be that as it may, our tester was charged a network fee. While the vast majority of operators do cover the fees, offering no transaction charges, ThorCasino is, obviously, not one of them.

Gameplay

Area Link Phoenix was the first game our tester explored. During her playing session, she triggered multiple wins, one amounting to $28.25, another to $14.50, and the highest one of $88.25. After a while, she also scored $21.66, and another noteworthy sum of $53.10.

Her next choice was Book of Lucky Jack: Baba Yaga’s Tales, followed by Buffalo Sunset. She then returned to Area Link Phoenix, this time triggering $16.50 and $24.00.

Withdrawal

On the same day, our tester decided to request a withdrawal of $120, also in BTC. An e-mail from the casino arrived, informing her that her request had been received.

A day later, on April 25, an e-mail arrived to let the tester know the request was processed. She received 0.00434918 BTC.

To cash out, a player can use more or less the same selection of methods as the one available for deposits. Vouchers and some e-wallets are excepted. As per the AML policy, a deposit needs to be wagered at least 5 times.

The minimum ranges between EUR 30 for e-wallets, bank transfers, and credit cards. For cryptocurrencies the amount is notably higher, ranging between EUR 50 and EUR 100. A vast majority of methods are processed in up to 24 hours, but online bank transfers may take up to 2 business days.

In case of big winnings, the maximum withdrawal may not be greater than 2.500 EUR per weekand 5.000 EUR per calendar month or the equivalent amount in the selected currency. Jackpot winnings are excepted from this rule.

Cryptocurrencies come with a network fee, other methods are processed without any additional charges. It is also noted that:

“[…] 11.1 Charge of 20% may apply to all deposits/withdrawals if the amount has not been turned over. […]”

Conclusion

Comparing the “Payment Methods” page, the Terms, and our tester’s experience, you will notice a couple of discrepancies with regard to commissions on transactions. Our tester was charged a fee on deposit. Also, though the banner claimed there’s “no KYC”, she completed it. Other than these, there were no other issues with ThorCasino.

What are your two cents on fees on Bitcoin transactions? Should they be fully eliminated? Share your thoughts with us in the comments section below and gamble responsibly!