One of the highlights of playing at an online casino is withdrawing your winnings. However, unlike playing at a land based casino, where you simply walk up to the cashier counter and cash in your chips, you will need to withdraw your winnings electronically. Although most online casinos offer a variety of withdrawal options and make the process as accessible and easy to use, there are still a few terms and conditions that players need to be aware of.
Although some withdrawal options are universal, many withdrawal options still depend on your country of residence. The most popular and widely used withdrawal options offered by online casinos around the world are mentioned below:
Online Casino Withdrawal Methods
- Wire Transfer: The wire transfer method is great if you have had your fun gambling and are done. It is quick, easy and convenient. The main advantage is that the money goes straight into your bank account; however, the disadvantage is that the withdrawal minimums are usually quite high, which makes it convenient for larger withdrawals.
- ACH Transfers: This method is widely used in the US and refers to the Automated Clearing House electronic network of payments. This method works best if you want to receive your winnings into your bank account but you don’t have a huge amount to transfer.
- Ewallets: Ewallets such as Paypal, Skrill, and Neteller are great if you want to move your winnings from one online casino to another. Most players prefer doing so in order to take advantage of bonuses at other online casinos. The advantage of using ewallets is that you can transfer money from one online casino to another quickly. The disadvantage is that most online casinos in the US, don’t allow US players to use this option.
- Credit Cards: This is a widely used option as well, that is accepted in most online casinos around the globe. However, some types of credit cards such as Mastercard may not be accepted by all online casinos, so be sure to find out before attempting to make a withdrawal.
Withdrawal options just like deposit options are subject to the discretion of the online casino at which you are playing. This is why it is advisable to inquire about their withdrawal options before signing up and making a deposit. In most cases, an online casino will allow you to use the same option that you used to make a deposit, to withdraw your winnings.
If your online casino has a few more requirements from you before paying you out, don’t be alarmed or frustrated. This is normal and expected with all online casinos. With a land-based casino, you can walk straight up to a cashier and cash in your winnings face to face. However, with an online casino, there is the increased risk or added concern of security. This stems from so many internet hackers and scams out there. Online casinos have to be safe to avoid being sorry. They simply cannot afford the chance of paying out your winnings to a total impersonator, which is why they always request for identity documents such as a driver’s license, utility bills and proof of address. This is simply so they can prove you are who you say you are and they have a physical address to link you to.
These requirements might seem a bit excessive to beginner players, however, when you stop to think about it, it does make perfect sense. The online casinos have never met you face to face and if someone were to impersonate you, they would pay out your money to a complete stranger, which would in turn land them in really hot water. Every legal casino has to abide by these rules in order to keep their business regulated and also align with their governing bodies. This submission of verification documents is also a once off process in most cases and future withdrawals would no longer require you to go through the entire process again.
Top Tips for Easy Withdrawals
- Look for withdrawal methods that are free or cost effective. There is not much point to withdrawing a huge win when a significant chunk of it is going to be taken by your ewallet, bank or credit card provider. If possible only use free withdrawal methods.
- The quicker you get access to your cash the better. So before choosing to go with a specific withdrawal method, find out how long it will take to receive your funds. One draw card that many online casinos use is advertising fast pay-outs. Make sure that you know exactly how fast you are going to get paid out and ensure that there isn’t any red tape involved. Speak to a consultant at the online casino and ask as many questions as you need to, in order to feel comfortable with the entire process.
- Choose withdrawal methods that practice and have security measures in place. You should always try to ensure that your cash remains yours, at all times. So use a reputable and trustworthy withdrawal method.
- Always choose a withdrawal method that is right for your lifestyle. If you would like to keep your gambling life separate from your personal details, then choose accordingly. If you don’t like daily withdrawal limits, choose a withdrawal payment method that doesn’t impose them.
One of the main reasons that people play at online casinos is – convenience. It’s not just the convenience of playing from the comfort of your own home or your PC or mobile phone, but it’s also the convenience of having access to your winnings swiftly and easily. So if you are like many people, you want to ensure that you know all you can about the withdrawal methods that are accepted and how long it takes from the time you request a payout, till you actually hold the cash in your hands. The only way to really know this is to chat with the online casino’s customer support and also read their terms and conditions on withdrawals.
Join Us, Support Us!
I do hope that you enjoyed my personal approach to understanding the small prints when searching for casino bonuses.! As an avid online casino player, I am on a serious mission to review every strategy to get the most out of your online casino adventures within UK! Help me on my journey by testing these tips, rating the casinos and by sharing your good and bad news with me! This way you’ll also be supporting this blog to continue serving you with the best tips, strategies and reviews.
Thanks for your support!