Withdrawing From Online Casinos – What Should You Know in Advance
4 minutes
Posted by: David
Online casinos have made the gambling experience immensely more convenient and straightforward. You can deposit, play, and withdraw your money in maximum comfort without even leaving your home.
That said, when it comes to online casino withdrawals, they can often become nerve-racking if you’re not familiar with everything involved in the process.
But, don’t worry. On this page, we’ll share with you everything you should know before you withdraw money from an online casino.
With the information you’ll learn here, you’ll make sure that the next time you cash out from a casino site, your experience will be smooth sailing.
Always Remember the Wagering Conditions
When it comes to withdrawing money from online casinos, one of the most significant aspects to consider is the wagering requirements.
This is because most players start their online gambling experience by claiming a welcome bonus.
These bonuses are very rewarding but also come with specific rules and stipulations attached to them.
Most online casino bonus offers include two important conditions – the number of times you need to wager the bonus money before you can withdraw it and the timeframe within which you need to do it.
To make it a bit clearer, let’s use a simple example.
For instance, you’ve claimed a generous $200 welcome bonus, which came with a 30x wagering requirement stipulation. This means that, before you can convert this $200 bonus money into real cash, you need to play through it 30 times or wager a total of $6,000.
Usually, you will need to play slots for the fastest clearance rate, as games like blackjack often only count for a fraction of the overall wager, like 10% or 20%.
This rule protects casinos from any potential scammers who would just claim the bonus, withdraw it immediately and stop playing at the casino site.
Check the Withdrawal Limits
This information is often transparently available when you open up your online casino’s banking section. If it’s not displayed, make sure to contact the casino’s customer support and request this info from them.
Knowing the minimum and maximum withdrawal limits upfront is essential, as it will allow you to avoid any complications when the time comes to withdraw your money.
In line with that, you should also know the amount limits. More precisely, how much money you can withdraw during one day, week, or month.
The specific withdrawal limits can depend on the payment method itself. Exact withdrawal limits depend on your preferred method, and bitcoin casinos often have higher limits than the traditional ones.
Lastly, make sure you’re familiar with any possible withdrawal fees or currency conversion costs. Some casinos charge fees for specific withdrawal methods, while others don’t charge any fees.
Ideally, you should always look to sign up with the latter type. Even a small withdrawal fee of a couple of percent can add up to a hefty amount after a few years.
Complete the Security Checks Right Away
Depositing money in an online casino is always quick and easy. All you need to do is create an account and pick a deposit method you want to use. You don’t have to think about any other requirements.
But, when the time comes to withdraw your winnings, you’ll find that the transactions aren’t always as speedy.
Before you can withdraw your money, you’ll need to verify your identity by providing a government-issued document, passport, or another identification piece.
Our tip is to complete the security checks right away and don’t postpone them until you already have money on your account that you want to withdraw.
If you deposit and go straight to the roulette table without verifying your identity, you can’t be sure that the casino will release your funds and accept your verification attempt.
Sometimes, this process can be tedious and annoying. That’s why it’s best to get it out of the way right at the start. That way, you’ll have peace of mind knowing that you can withdraw money anytime you want.
Carefully Choose Your Withdrawal Method
Online casino players have the advantage of choosing from a wide variety of payment methods and supported currencies. That said, you shouldn’t go too broad with your options.
It’s better to have one or two withdrawal methods you can rely on and trust than to regularly switch between a dozen payment options.
This is good not only because you’ll know your withdrawal requests will always go through smoothly. You’ll also have the comfort of knowing your sensitive financial information is in the safe hands of a reliable payment service.
Moreover, this is important because some casinos only allow you to withdraw your winnings using the payment method you previously deposited with. Knowing this upfront can save you from many headaches.
Such a policy may seem inconvenient, but online casinos set it in place to prevent any money laundering attempts from fraudulent players. As annoying as it is at times, it exists for a reason, and sometimes there is no way around it.
