Withdraw: How to Withdraw Your Money and Winnings
Every individual is entitled to the reward of his labor, and this also applies to casino winnings. In online casino games, you deposit your money in order to play real games that guarantee you winnings. These games vary and the odds per game also vary. The basic advantage you get when playing online casino games is that you can play it anywhere at any time. The chances are high that as a rookie, you’ve always wondered how to withdraw your money and winnings especially after winning big, and as a pro, there are high chances that you have had to wait for long to get your winning. There are various ways you can make your withdrawals out of your casino account, and you do not have to wait for long.
- Method of withdrawal can be same as deposit
- Withdrawal processing time depends on method of payment chosen
- You must meet wagering requirements before withdrawal
- Some casinos request verification before withdrawal
The Process of Withdrawing Your Earnings
Payment details are a very important section of the online form you will be required to fill especially when you are just registering with an online casino. You will need to know the various withdrawal methods to use and how long it will take to cash out. What many people neglect to also consider is if there is a fee attached to withdrawals.
What Method of Withdrawal should I Use?
The general rule is that whenever you want to make a withdrawal, you will make the withdrawal through the same method you used in depositing. This is to curb money laundering, though there are some exceptions to this rule. These exceptions are dependent on the method deposit was made. If you deposited via voucher or any other method that does not allow for withdrawal, this rule is not binding on you.
When choosing deposit methods at an online casino, you should also consider how withdrawals are processed through that method. There are different ways of cashing out, but they have their own advantages and disadvantage. You are advised not to get carried away by an easy method of depositing without knowing how to withdraw your money and winnings.
Withdrawing Winnings in Casino Games
Playing in online casinos should not just be about winning, you should also take note of when to withdraw and where to keep it. Money management is also a skill you should learn when playing casino games, it helps you reinvest your cash as well as have enough to use for other things.
When to Withdraw
Naturally, you can always cash out whenever you feel you have made enough money, and whenever you wish to convert it to cash. But there are things to consider especially when it comes to cashing out. Online casinos allow you set what is called a pot limit. This makes sure you cannot spend more than you can afford. You set the limit to your bets, and cannot go beyond that limit unless you have a specific number of winnings. However, you can set the limit at any time of your choice. The pot limit curtails your overspending as you might withdraw any winning over the amount set.
You can also decide to take a break especially when you have winning streak. Casinos are not dumb, although the odds vary based on games, however, some games give you a higher chance of winning especially at the beginning. Do not put all your winning hoping you will get more. That win might be the one that will mark a drought of wins. Overall, regardless of the approach you choose, it will only be effective if you stick to it. Sticking to a strategy will allow you gauge your betting skills.
Casinos are under an obligation to know their customers, and that is why they ask for personal as well as financial details. They ask for additional information like proof of age, your address, and some other security questions so as to determine if truly you are eligible to gamble- if you are over the legal age to gamble and if gambling is legal in your location. So, whenever you want to cash out, and you see a request for a document, it is not a scam. Documents that are mostly required are, your photo ID, driver’s license, passport or any other valid means of identification. Some casinos require your utility bill or even bank statement.
Casinos offer bonuses as well as gifts. This may be based on a whole lot of criteria, but the most common ones are the frequency by which you play and how frequently you bet. However, if you use bonuses, there is a high chance that there will be a restriction on the amount you can withdraw. These are called betting requirement and they imply that bonus amounts are valid after a player wagers a certain amount of plays a specific number of times. Sometimes, if you have not met the betting requirement, you will not be able to withdraw. Always check the terms and conditions of your online casino to know their terms of playing and withdrawal.
Every online casino sets limits, and they vary from each other. There will always be a minimum as well as maximum amount to be withdrawn from your casino account within a specified period.
Duration of Withdrawal
The processing period for withdrawing from your account is majorly dependent on the payment method chosen at the point where deposit was made. Sometimes, depending on the nature of the method chosen, withdrawal can be very fast or even take more than 24 hours. Sometimes, the processing time for bank transfers especially ranges from two to ten working days.
The processing time includes the time in which it takes for the casino to receive your request for withdrawal, and accept it. The processing period varies from site to site, so you have to read the site’s terms and condition before pitching your tent. And even after this period, the withdrawal speed still depends on the payment method you have chosen. E-wallets like Paypal have a varying processing time but are always between 1-2 working days, your credit/debit card and bank transfer takes between 2-5 working days, while checks will take between 5-10 working days.
How to Withdraw Your Winnings
Withdrawals are always easy, especially for pros, and for newbies, online casinos have on-screen guides to help their customers withdraw funds. However, these three steps are the easiest generic ways to withdraw;
- Sign into your player account, and click on Cashier (the place you deposit money)
- Select a payment method (this might be the most preferred deposit method on some sites)
- Select the amount you wish to withdraw, and click on withdraw. Sometimes, you might be asked to provide some personal information, especially if you did not input them during the registration phase.
Certain casinos are also known to be quite slow when they have to give back earnings, this is why we’ve made available on our online casino comparison page trusted online casinos which are known to process your payments swiftly and safely. Simply check out the page and sign up to access casinos and avoid delayed payments. You may be required to confirm the withdrawal, as a security measure while others may ask for additional verification documents. Withdrawing your winnings is one of the easiest things to do, but there are some factors to consider especially when you need to get your money out. This process is a similar one to the process of making a deposit.
Your withdrawal method does not necessarily have to be the same as your deposit method, but for the sake of convenience, you should use the same method. It is very important to take note of the terms and conditions of the online casino you want to join, as they spell out many of these requirements in the terms and conditions. Also, note that customers who are regarded as VIPs, get more benefits compared to the the average customer though you have to play more games with them to become a VIP. Once you’re a VIP, speed of withdrawal also increases.