5 Things You Need to Know About Cashing Out Wins From Online Casinos
In most cases, cashing out your winnings from any online casino is a relatively simple process and the following information contains five important things you should be aware of before attempting to make a withdrawal at your favourite online casino. This will prepare you for what to expect when the time comes to cashing out, however much you are attempting to withdraw.
– Choose your Preferred Withdrawal Method
When you first sign up to an online casino, you will probably be prompted to make your first deposit a variety of different methods. This is where you should take the time to research whether your preferred method allows for both deposits and withdrawals, not just deposits. Read more at joker 338.
Not all methods allow for both, so if you want to keep things simple, try and opt for a method that will allow you to do both. Also, depending on your location (country of residence), some banking options may or may not be available. Many players may prefer to use a credit or debit card, whereas other players may prefer to use an e-wallet. Always check in the cashier section to see if your preferred method will allow you to withdraw, prior to signing up with them.
– Expect to wait up to 48 Hours or more for your Winnings
A deposit may be instant, but withdrawals are very rarely as quick. Most withdrawals from your online casino account will take a minimum of 48 hours for the transaction to be completed. This could take even longer if for example you are trying to cash out late on a Thursday evening. The 48 hours are generally two business days, so the transaction may therefore not be completed the close of business on a Friday evening.
This means that you could have to wait until as far away as Monday or even Tuesday for your funds to appear back in your bank account or e-wallet. This can often be quite frustrating with cash just sitting around in your casino account and many players will not be able to resist temptation until Monday/Tuesday and will more often than not cancel the transaction and spend their winnings – so have patience because it will eventually arrive.
– Larger Wins May Take Longer
If you are lucky enough to scoop a massive progressive jackpot and your prize (for example) is well over /$/€1,000,000, the casino won’t just pay out straight away. These large wins need to be verified. This is standard procedure and doesn’t mean that they are purposely trying to hold back your rightful winnings. The casino may also need to contact you to discuss the most effective and secure way of being able to transfer these substantial winnings to you, plus you may also be appointed a personal account manager/advisor to discuss your options further.
– Check the Minimum/Maximum amount that you can Cash Out
You may not simply be able to withdraw /$/€5.00 because the minimum withdrawal limit for your casino may be /$/€20.00. In some cases this is as much as /$/€50.00 before you can cash out. Always check in the terms and conditions so you know roughly how much bankroll must be in your account before you can cash out. If it is not clearly stated in the terms and conditions or in the cashier section, contact the support and they should be able to explain the minimum withdrawal amount for your favourite online casino.
– Contact the Support if Withdrawals are taking too long
If you have been waiting for what seems like an eternity (more than a week) and it doesn’t matter how much you are trying to withdraw, the chances are there has been some kind of technical issue or worse still one of your accounts has been hacked or the casino is in fact a rogue casino. With most rogue casinos (thankfully there aren’t too many), the most common problem is delayed withdrawals. In the event of not receiving your cash, contact the support.
If the support isn’t being very supportive, you are more than likely being scammed so cut your losses, report the incident and don’t ever return to the casino. If the casino is fully licensed and regulated, you will have plenty of legal support. If they do not have the basic credentials/certificates, you will find it quite difficult to receive just one penny from them.