Making payouts using casino withdrawal methods you prefer is important when playing online. So, deposit and withdrawal options should play a huge role in determining which casino you join. Before you sign up to a casino, you should know which withdrawal methods are available to you.
Furthermore, you need to know how long it will take you to cash out your winnings. But that’s not all. There are many terms and conditions you need to be aware of. Not to worry, everything that you need to know about casino withdrawal methods is featured here.
Payment Method Links
- Casinos With Top Withdrawal Methods
- How To Withdraw Money From a Gambling Site
- Withdrawal Methods – Bank Cards
- Instant Withdrawals – E-Wallets
- Bitcoin Withdrawals
- Other Casino Withdrawal Methods
- Payment Methods Overview
So, you have made a deposit, placed a few bets, and managed to win. Now, you are ready to withdraw your winnings. We know that cashing out for the first time can seem overwhelming.
Well, use our step-by-step guide below to start making hassle-free withdrawals:
1. Fulfill the Wagering Requirements
If you claimed a welcome bonus or any other bonus with a wagering requirement, you have to adhere to those conditions. Most bonuses will require you to play through the bonus between 10x to 50x times before making a withdrawal.
2. Visit the Cashier to Select Your Ideal Withdrawal Method
At the cashier, you will find all the banking methods offered by a real money casino. Scroll to the section with all the payout methods. Select the option that best suits you. You will notice that the list of withdrawal methods isn’t quite as long as the list of deposit methods.
3. Read the Terms and Conditions
All the withdrawal methods have terms and conditions you have to read before withdrawing. Find out what the withdrawal fee is, how long it will take to clear, and when you are most likely to receive your winnings.
4. Go Through the Verification Process
Some casinos will require you to verify your identity. You will have to submit important documents such as your ID, proof of residence, bank statements, and so on. Also, this step is to ensure your personal information is safe.
5. Wait to Receive Your Winnings
After clicking on submit, all you have to do is wait the estimated withdrawal time. Every withdrawal method will have a payout speed. Some are instant, and others take up to seven working days or more.
While gambling has its fair share of mistrust and suspicion from newer players, there is nothing to worry about when you play at regulated casino sites. One of the biggest concerns is making payments on your credit or debit card.
Moreover, most players are hesitant about uploading their card details and information on the internet. Issues such as data theft are serious, which is why you should only play at licensed casinos that protect you from such issues.
Using your bank card at a web-based casino is also dependent on the restrictions where you live. Here are some of the cards you can use to make withdrawals at casinos:
- Credit Cards – currently the most popular payment method online. The most accepted credit cards include American Express, Visa, and Mastercard.
- Debit Cards – most casinos accept Mastercard, Maestro debit, and Visa debit cards.
- Prepaid Cards – these are virtual cards or vouchers you can use, such as Paysafecard, AstroPay, Entropay, and others
As mentioned above, bank cards aren’t accepted as a withdrawal method at every casino because of regional limitations. Generally, it also takes casinos between three to seven days to process cashouts for cards, so it is not the most efficient withdrawal method despite it being such a good deposit method.
If you are looking for instant withdrawal methods, e-wallets are the way to go. These payment options offer an easy way to transfer money to and from your bank account. Popular e-wallet payment options include:
Neteller is not the most famous e-wallet around, but you have probably heard of it if you are an avid online gambler. At one stage, 95% of the financial services provider’s revenue came from gambling transactions.
But a few changes to regulations in countries around the world changed this, meaning that it is no longer possible to make online gambling deposits or withdrawals with Neteller in some countries.
That said, it remains a popular withdrawal method where it is offered. If Neteller is available where you live, it is definitely a withdrawal option you should look into using.
PayPal is probably the most popular e-wallet globally, offering online money transfer services to more than 200 countries.
As far as the online gambling scene goes, it is hard to find a PayPal casino or sportsbook. The reason is that the activity isn’t explicitly legal or illegal in all countries, and the company does not want to find itself on the wrong end of a lawsuit.
So, in countries where online gambling is legal, such as New Zealand, you will find PayPal as a regular option at casinos. However, in countries in the United States where the law varies from state to state, you’ll only find the option at some of the bigger betting sites, such as DraftKings.
Skrill is another popular e-wallet commonly associated with gambling. It is widely used worldwide, and over 40 currencies can be used to transfer funds to merchants or other people.
Neteller and Skrill are both owned by the PaySafe Group. As such, both offer a VIP program that allows you to reduce the fees charged on your withdrawals in addition to providing you with fast processing times.
Like other wallets included on this list, Skrill is only available in countries where the law permits online gambling.
Other Popular e-Wallets
Other popular e-wallets at online casinos include:
One of the most common online banking options used to make payments at gambling sites is Bitcoin. Many casinos prefer that you use Bitcoin because of the fluctuating value, meaning that it could be worth more when you deposit and less when you withdraw.
They’ll try to entice you into using the banking method with deposit bonuses. On the withdrawal front, it is one of the only methods that could be processed within 24 hours, making it one of the fastest withdrawal options (literally, only Neteller posts better times.)
Withdrawal limits are pretty high, with most casinos maxing out at $5,000 per week for regular players. Also, there are no fees attached, which means you lose less of your winnings to bureaucracy.
The most important benefit of using Bitcoin is that it is a secure method, and you get to remain anonymous. You do not have to share your personal banking details with the casino or sportsbook when you use Bitcoin, which means you are at less risk of being hacked.
Although Bitcoin is the most popular cryptocurrency, you are not limited to using it online. Many casinos and sportsbooks offer other crypto withdrawal options, including Dash, Ethereum, Litecoin, and Bitcoin Cash.
Casino Withdrawals Via Bank Transfer
Many casinos offering their services to players in countries like the United States and Australia are limited to offering a handful of withdrawal options. Although bank transfers may seem archaic, many casinos aimed at these territories only allow you to request withdrawals using this method.
There are both pros and cons to this. Let’s start with the advantages.
Firstly, it is safe to use with banks nowadays, ensuring that every transaction made is secure. Secondly, if you have a bank account, you know how to perform a bank transfer. So, there is no confusion there.
But there are many drawbacks to this method. Firstly, it takes a long time for your money to reach you. You may land up waiting 30 days to get your money. Secondly, you have to share your personal banking details with the casino, and not everyone is comfortable with that.
Finally, if you live in a country where the laws on online gambling are unclear, banks could reverse the transaction to avoid legal action.
Some casinos offer additional reliable withdrawal options, including:
- Wire transfer
- Paper checks
- Person to person
- Money orders
Online gambling is more than just playing online casino games or betting on sports. Looking at withdrawal methods is important when picking a site as is the casino’s withdrawal policy.
Always check the transaction time and wagering requirements of bonuses. Lastly, player verification is important, and you should not ignore or place it on the backburner. Essentially, the casino wants to make sure that they are sending money to the right person.
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