After you have racked up wins playing games at an online casino, you must withdraw those earnings. This is where having a reliable online casino withdrawal method comes in. Options for payout, in this case, range from credit/debit cards, cryptocurrencies, e-checks, and wire transfers.
So, how do you decide which option to choose from this extensive list? This is what we will cover in this guide. We will learn about the various withdrawal methods alongside other vital tips to ensure a seamless withdrawal.
How to Complete a Withdrawal From an Online Casino
So, you’ve been lucky and won some cash at an online casino; what happens next? Follow these steps to get your winnings quickly.
- Log in to your casino account
First, log in to your casino account and click on the cashier/banking section. Then click on “Withdraw.”
- Make sure you have adequate funds
Before withdrawing funds from an online casino, you’ll need adequate funds in your account. Most sites will require a minimum withdrawal amount before you can trigger a payout. Ensure you have accumulated this minimum amount before you proceed.
- Verify your identity
Reliable online casinos will first require you to complete a KYC process before withdrawing. This is for your safety as it ensures your funds don’t fall into the wrong hands. You only need to submit documents at this point, like your government-issued ID card and utility bills.
- Choose a withdrawal method
Pick your desired withdrawal method from the options available and input the amount you want to withdraw. Follow the on-screen instructions and click on confirm to complete the transactions.
- Wait for your funds to appear
Finally, wait for the funds to show up in your account. Depending on the payment option you opt for, this could range from 24 hours to up to seven days. Contact the support team if the cash does not show up in your account within this period.
Are There Online Casino Withdrawal Limits?
Withdrawing funds from online casinos is a very simple process, as we have discussed above. However, sometimes an online casino may attach restrictions to withdrawals. These can greatly limit the amount you can withdraw from a casino. Keep reading to learn about some of the common limits to expect when withdrawing from online casinos.
Online casinos regularly offer bonuses and promotions to play games for free. You can get these bonuses for registering on the platform or for being a loyal customer of the site. However, these bonuses come with wagering or playthrough requirements, so you’ll need to wager the bonus a specific number of times.
For instance, an online casino can add a 50x wagering requirement to a bonus. This means you’ll need to wager the bonus 50 times before withdrawing the bonus and earnings. If you fail to do this, you’ll be unable to withdraw your earnings. We suggest you note this when accepting a bonus so you don’t experience issues down the road.
Some online casinos may limit the amount you can withdraw daily, weekly, or monthly. Therefore, it is important to check the terms and conditions page of the online casino to see if there are any limitations. If you are a high roller, it would be unwise to register on a site with a $500 weekly withdrawal limit.
KYC and Safety Checks
Online casinos are required to carry out frequent safety checks on players. This is to ensure no fraudulent individual gets hold of your account. To complete this check, you’ll need to send specific documents the casino will vet. If everything goes fine, you can continue playing games for real money.
However, if it goes wrong, you’ll be unable to perform activities, including withdrawals. To ensure you don’t experience issues, submit the right documents to the online casino when required. Documents should be up to date and align with the information you used when registering your account.
How to Choose an Online Casino
Choosing the best withdrawal method for you does not have to be difficult. You can make the right choice by evaluating different factors, including:
Country of Residence
Some withdrawal options are country specific. Before making your choice of a withdrawal option, ensure that it is supported in the country you are situated in.
Some withdrawal options like wire transfer withdrawal and Bitcoin withdrawal may have fees attached. If the fees are on the high side, they can quickly dip into your bankroll. Find out if there are processing fees from your financial institution or fees charged by the online casino.
The time it takes to process payments is also another critical factor. While Visa Direct withdrawal may take one to three days, other options like wire transfers can take up to seven days. Weigh the options and choose the one that gets your winnings to you as swiftly as possible.
As we mentioned earlier, there may be withdrawal limits attached to online casinos. For example, an online casino may have a minimum limit of $100. This is quite high and there are sites that allow you to withdraw as little as $10. Sometimes, there may be maximum limits attached, which determine the highest you can withdraw. If the maximum limit is too low, it can negatively influence your gameplay, especially if you are a high roller. We recommend you go for a no withdrawal limit casino if you don’t want to experience these hassles.
The license held by the online casino is crucial as this determines your safety and how fast you get your earnings. Unlicensed sites may fail to pay out your winnings or might give the funds to the wrong individual. What’s more, when you submit your documents, doing so on a licensed site will ensure your details don’t fall into the wrong hands.
Why Is ID Verification Important?
Confirming your identity on a casino platform may seem like a hassle, but it is vital. Here are a few reasons why you must go through this process.
To Encourage Responsible Gambling
One aspect of responsible gambling is preventing underage gambling. It is illegal for individuals under the age of 18 to engage in online gambling. Online casinos that allow players below this age to register may run into problems with the law. This is why online casinos will require you to verify your age before you can activate your account and start wagering.
To Stop Problem Gamblers
Problem gambling is an issue faced by many players on casino sites. This is because gambling is an addictive activity, and any player that isn’t careful can quickly get trapped in this cycle. Online casinos have no withdrawal limit, and sites that care about their players put measures in place to prevent this problem.
One of these measures includes self-exclusion, which players can use to exclude themselves from a gambling site for specific periods. This will prevent the individual from gambling during the set period. Some players try to create alternate accounts to avoid this, which is why KYC is necessary.
To Make Sure It’s You
This is perhaps the biggest reason for ID verification on no withdrawal limit casino sites. To stop fraudulent individuals claiming to be you from withdrawing your funds, the online casino uses ID checks to confirm it is you. While this may seem stressful, it will save you from lots of problems down the line.
Best Withdrawal Methods at Online Casinos
If you are unsure of the best options to use when withdrawing funds from online casinos, here are some of our top pics for fast withdrawals.
This is the most popular option for withdrawals due to the high level of security, ease of use, and accessibility. Common options in this category include Visa, Mastercard, and American Express.
Some online casinos allow you to use wire transfers to withdraw your funds. This withdrawal method is a convenient and secure means of getting your cash from your online casino account. Although wire transfer withdrawals offer many benefits, it is one of the slowest options available.
If you choose to withdraw your funds by traditional paper check, the online casino will send a check through your mail. While it may not be as fast as other payment methods, it offers an extra layer of security to keep payments safe.
If you prefer, you can use e-checks which are the electronic versions of paper checks. These go directly to your account when you request a payout. These offer the same level of safety as paper checks, but they appear in your account faster.
Also known as electronic wallets, e-wallets are digital wallets that allow you to withdraw funds from online casinos without revealing your identity. They are fast and secure, and offer speedy withdrawals. Some of the notable options here include Skrill, Neteller, and PayPal.
This digital currency works independently without any interference from the government or financial institutions. Bitcoin allows for anonymous and fast withdrawals from online casinos. Many other digital currencies exist, including Ethereum, Litecoin, Dogecoin, and many more.
Pick the Best Online Casino Withdrawal Method
As you can see, withdrawing funds from online casinos does not have to be difficult. Ultimately, the payment option you settle for depends on your preferences and needs. If you want speed, e-wallets are your bet, but if you prefer more traditional options, wire transfers are your ideal choice – but they are extremely slow.
You can pick from Bitcoin or other cryptocurrencies if you prefer anonymous gameplay. You’ll find Bitcoin on many instant withdrawal sites ensuring you can get your funds seamlessly. All that is left is for you to pick the ideal option, register at an online casino and start playing.
FAQ About Online Casino Withdrawal Methods
How do I withdraw winnings from online casinos?
To withdraw your earnings on an online casino site, you’ll need to head to the banking/cashier page to choose your preferred option. Then input your details and withdrawal amount and click confirm. All that is left is for your funds to appear in your account.
How long does an online casino withdrawal take?
Payment processing could be instant or it could take up to 48 hours. Once done, it can take up to seven days for the payment to land in your account. There are many factors that influence this timing, including KYC, the chosen deposit option, and the online casino you register at.
Are online casino withdrawal methods secure and safe?
Yes, reliable casino withdrawal options like those we have covered in this guide are safe. Our experts properly review a payment option before we recommend it to players.
Do online casinos payout winnings?
Yes, licensed and reliable online casinos payout winnings. Make sure you stick with licensed sites, as unlicensed platforms may keep your earnings without paying out.
What is the minimum withdrawal amount in online casinos?
This is usually dependent on the online casino in question. While some may allow you to withdraw as little as $10, others set a limit of$100 or more.
Are there fees associated with withdrawals?
Some online casinos have a fee attached to withdrawals, while others do not.