Playing games at an online casino is quite a fun activity. You can try out the games in demo version first, to get an insight into the gameplay and features, but the real excitement begins when you start playing them for real money.
To play for real money, you would need to make a deposit first. And while the depositing process is rather straightforward, you select a payment solution to use and specify how much you wish to fund your casino account with, the withdrawing process can be a bit more complicated. Although, that’s not necessarily always the case.
In this article, we’ll guide you through the cashing out process at an online casino. We’ll give you the essentials, and provide you with some tips and tricks on how to withdraw your winnings safely and effortlessly. So, check out our step-by-step guide. 🙂
Withdrawing at Online Casinos – The Essentials
You’ve joined a casino, you’ve deposited, and you’ve played your favourite games. You’ve won something, and now you want to cash out your winnings. What is the first thing you do?
If when you joined the casino, you claimed a bonus offer, the first thing you need to do is check whether that bonus came with wagering requirements. The first rule to withdrawing is to check whether you have some wagering requirements left unmet.
A wagering requirement is a condition bonus offers usually arrive with, which asks of you to deposit and play through the bonus amount a number of times before you can withdraw your winnings. Usually, the wagering requirements are of 15x to 45x the bonus amount, depending on the bonus offer and depending on which games you can play with the bonus. In short, that would mean that before you attempt to cash out winnings you made with a bonus of $100 with 30x wagering requirements, you would need to deposit and play through $3,000.
While this may seem like a lot, if you’re a serious player, intending to play at the casino in the long run, it’s not an impossible mission. Just make sure you play through the $3,000 before you request your withdrawal, and you won’t experience any problems with the cashing out process.
The Next Step – Choosing a Method to Use
The next step would be choosing the proper withdrawal method. This is where things may get tricky. When you open the Withdrawal Methods page at any online casino, you’ll see that there’s a huge choice of payment method options at your disposal. So how to choose the right one for you?
The first thing you should know here is that there are traditional and alternative withdrawal solutions that can either make your entire online gambling experience a dream or a nightmare. Why? Well, because each payment method comes with its pros and cons when it comes to fees, waiting times, device compatibility and availability. Some methods are completely fee-free for withdrawals, others charge hefty fees. Some allow for near-instant or at least reasonably fast waiting times, while others take days and even weeks to process your winnings. Some can be used across all devices, by players from any country across the globe, while others are limited to desktop or mobile devices only, and available to players from only a list of countries.
Therefore, to choose the proper solution to use for withdrawals, you would have to do your homework. While credit and debit cards may seem most convenient, they usually come with fees of around 2% to 5%, depending on the issuing bank. A bank transfer may seem the safest solution, but the waiting times can be up to 10 business days, and that may not be something you can agree to.
That’s why online casinos usually recommend the use of alternative solutions. eWallets and cryptocurrencies are the most recommended options, as they provide you with near-instant withdrawals or withdrawals that take no more than 48 or 72 hours. They usually come with no fees or with quite a reasonable fixed fee, regardless of the amount you’ve requested to withdraw. And, what’s most important, they are usually available to any player, from anywhere across the globe, so you won’t need to worry about their availability. Naturally, as alternative solutions, they are pretty innovative and modern, and accessible via any desktop and mobile device.
Limits to Be Aware Of
Another thing you should keep in mind is that either the casino or the payment method provider may impose withdrawal limits. They may limit the amount you can withdraw at a time or the amount you can withdraw over a specific period of time, at their convenience.
Before you request a withdrawal – or even better – before you join a casino, make sure you get familiar with these limits, if there are any. A casino may choose to limit the amount you can cash out and set a daily, weekly or monthly limit to that amount. For instance, it may allow you to withdraw no more than $500 a day, $1,500 a week and $5,000 a month.
Therefore, you need to be aware of these limits to see whether they’ll work for you, depending on whether you’re a low or a high-roller. If not, you need to look for a different casino to join. Payment methods can also put limits on how much you can withdraw with them, so before you choose the one to go with, you need to know these limits. If they would not work for you, again, you need to choose a different method to use.
You should know, though, that there’s a trick here. VIP players across online casinos usually get higher withdrawal limits and faster withdrawal times. Therefore, as a high-roller, for instance, if you’re planning on depositing big and withdrawing huge sums, you should check out the VIP program first before you dismiss the casino completely. If these higher limits would work for you, and you could see your way up the VIP levels, then there’s still hope for you at the site.
Identification and Verification
When you join a casino, you may not be required to provide proof of identity or proof of address documents right away, but when you try to request a withdrawal, you most certainly will. Why?
Well, online casinos are required to demand copies of such documents due to the Know Your Customer (KYC) protocol. This is a protocol, usually a condition in the online gambling license agreement operators sign to offer games legally, which demands that the operator must know all of its customers, as prevention against identity thefts, money laundering and other frauds and criminal activities.
That means that, during the withdrawal procedure, the casino will ask you to provide a personal identification document, your ID, passport or driver’s license, and may ask you to provide an additional document such as a utility bill, a bank statement or any other documents as proofs of identity and address. If the operator suspects something is wrong, it may ask for additional documents.
The point here is that your documents would be safe with the operator, and you should provide them for your own benefit. Even though casinos use the latest security means and encryption technologies, you never know whether someone will attempt to steal your identity, use your funds to gamble at the site, and leave unnoticed. If you don’t provide these documents, they may as well do so.
The Step-By-Step Guide to Actual Withdrawing
Now that you know the essentials and some of the basic tips and tricks, it’s time to learn how to actually withdraw your winnings.
The first thing you do, obviously, is to decide on the withdrawal methods to use. Then, check whether you’re logged in to your online casino account. If not, make sure you log in. From here, do the following:
- Explore the site and look for pages like Cashier, Banking or Withdrawals.
- Open the page and wait for the list of accepted withdrawal methods to appear.
- Click on the method you’d want to use.
- When the new window opens, enter the required information (log-in credentials if you’re using an eWallet, the full card details if using a credit/debit/prepaid card, etc.).
- Specify how much you wish to withdraw.
- Provide copies of the required identification and verification documents.
- Confirm your request and wait for the money to arrive.
To sum up, as you can see, withdrawing from an online casino is not that difficult if you do it prepared. When you know what to expect regarding the procedure, it is actually pretty straightforward and easy to cash out your winnings. Just make sure you’ve met the wagering requirements if you claimed any bonus, chosen the proper method to use, checked for any limits, and got your documents in order. As long as you’ve done all of that, just look for the Cashier/Banking/Withdrawals page, and follow the step-by-step guide, which is pretty intuitive. In a matter of minutes, hours or days, depending on the method you chose and its processing time, the money will arrive on the desired destination.