One of the main advantages that online casinos have over traditional establishments is convenience. With online casinos, you can gamble pretty much anywhere and anytime, and that doesn’t require things like traveling to certain establishments and other preparations. However, not all the aspects of online gambling are that smooth and sometimes, things can be a little bit tricky.
Money withdrawal is one of the first things that come to mind. With traditional casinos, things are super simple, and the cash out is instant. With online casinos, you usually have to make a couple of steps before you get the money, as well as to consider things like payment methods, max amounts, time needed to get the money etc. Therefore, we’ve prepared this short article that can help to understand different aspects of money withdrawal from online casinos.
How to Withdraw Money from Online Casinos?
The first thing you need to know is how to withdraw money from online casinos. Although this isn’t too complicated, there are still a couple of steps you have to make in order to complete a withdrawal.
Of course, everything starts with logging into your account. That’s something you do every time you want to play an online casino, so you know how this is going. Once you sign in, the next step would be to find a cashier, and then click on withdraw or payout. That’s usually located somewhere on the side, in profile settings or somewhere around it.
Once you hit the withdraw or payout button, you will have to set the exact amount you want to receive. You can withdraw all the money you’ve won, but you can also request just a part of it, leaving the other part for future wagering.
Those would be some of the main steps to withdraw money from online casino websites. After that, you will only have to wait to receive the payment, and that can take some time, which can be different, depending on the payment method. We will get on that in a moment.
Payment Methods
Your first withdrawal from online casinos will include one more step. That would be to choose a payment method. These days, there are so many payment methods you can use and the point is to pick the one that feels the most convenient to you.
Of course, the first thing that comes to mind is a credit card. You can use all kinds of money cards and a good thing to know is that most online casinos accept Visa and Master cards. Of course, direct wire banking is often seen as the most convenient payment method, as it requires fewer steps than other methods.
If you prefer e-wallets, the offer is pretty impressive. Still, keep in mind that most casinos don’t support all these e-wallets, but rather just a number of them. Of course, you won’t have any worries if you use services from Paypal, Skrill, Neteller or other major companies. On the other side, things can be a little bit tricky if you prefer something more specific.
Many online casinos can also pay you out in Bitcoins and all you need to do is to provide your Bitcoin address. Other cryptocurrencies may be offered as well and the common thing for all of them is that casinos usually give various kinds of bonuses if you use this payment method. Another obvious advantage is the speed, which usually measures in just a couple of hours.
Withdrawing Money from Online Casinos – Things to Consider
As you can see, the whole process of money withdrawal from online casinos is quite simple. However, there are some things to consider, which can help you optimize your funds’ management. For example, we already mentioned different withdrawal methods and the important thing to know is that each one of them has advantages and disadvantages when compared to others.
Of course, one of the first things that come to mind is convenience. From this perspective, bank wire transfers are in an obvious advantage compared to e-wallets, as there is a smaller number of administrative steps you have to make in order to get money. Also, connecting your bank account with online casinos means that you don’t have to share any of your personal details with casino operators, which is something highly beneficial in terms of security.
On the other side, e-wallets are in an obvious advantage when it comes to the time needed to get your money. In the case of wire transfers, this used to take days, though things are a little bit better than before. On the other side, you will receive payment usually within 24 hours if you use e-wallets.
Minimum and Maximum Withdrawal Amounts – This is another thing to consider when managing your funds. So, what you need to do is to check the casino’s policy on this matter and see what is the minimum and maximum sum you can withdraw. In the case of minimum sums, things are usually quite simple and most casinos allow quite low amounts, like $20, to be withdrawn. On the other side, things aren’t that simple with maximum amounts.
In most cases, things payouts are simple and fast if the sum isn’t too big. However, things can be tricky if you want to withdraw a large amount of money. A usual limit would be 25.000 dollars, in most cases. If you want to withdraw more than that, operators would usually offer payout in installments. Also, keep in mind that the max withdrawal sum can also depend on your location. Finally, keep in mind that withdrawal limits may also depend on the payment method you choose. Cryptocurrencies and bank wire transfers are usually the best choice if that’s your main requirement.
Summary
As you can see, withdrawals from online casinos are a pretty simple thing. Once you make the initial withdrawal and set up all the parameters, things run quickly and smoothly. In our opinion, choosing a payment method is a much trickier thing. Each one has pros and cons but the actual user experience depends on many things. Therefore, before you set up your payment method, make sure to check how things work in your area, as well as things like time frame, charging fees, withdrawal limits etc
