Just a question, what are some of the factors that determine the price of transaction fees? Do transaction fees increase when the market is bull/bear? I am quite curious on how this would affect cryptocurrency gambling due to the fact that your fees are as high as your winnings (well at least in my case).
Are you referring to withdrawal fees from some centralized platform or transaction fees on the Bitcoin network in general?
Withdrawal fees - those are set by whichever platform or company you're taking your money out of. Could be a flat rate, could be a percentage. Up to them. Bitcoin transaction fees though, those work differently. Bicoin users actually decide those by trying to outbid each other to get transactions on the next block. Market doesn't really affect the fees much directly - they can spike if the network gets congested or if there's a rush to move BTC for some reason. I thought most folks already knew this stuff inside out.
Since transaction fees are quite high, it is really recommended for a gambler to switch to another cryptocurrency to take advantage of a lower fee compared to BTC. Since they still exercise the "spirit" of gambling in crypto, this will still satisfy their cravings in the event that they opt to choose to gamble in an online platform.
For lots of folks who are into Bitcoin, using altcoins instead ain't really something they wanna mess with. I'd bet most people holding Bitcoin long-term have zero interest in converting their BTC to some other random coin just to take money off a platform and so, that could actually be good for gambling sites in a way. If its a pain to withdraw funds, seems like more people will just leave their money on the platforms.