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We at CasinosOnline know that understanding casino deposit methods and cashing out winnings is confusing for most players. For this reason, we have created this comprehensive guide to help players understand casino payment methods and casino withdrawals.
While choosing online casinos to recommend, we consider casino withdrawal methods. We research each casino payment method to ensure that cashing out winnings becomes very easy for players. The online casinos we recommend do not charge any deposit and withdrawal fees.
Provided players submit the required documentation for verification on time, our recommended online casinos process withdrawals quickly.
Here is a check list to help you understand casino withdrawals better and to choose online casinos with the best casino payment methods:
Some of the most used deposit and withdrawal methods at online casinos are Visa & MasterCard credit/debit cards, cryptocurrencies, electronic wallet services, checks, and bank transfer. Online casinos usually credit payouts to the same method used to make deposits, but this is not always possible. For example, MasterCard does not serve as a withdrawal option in most countries. If you choose a deposit method that does not function as a withdrawal method, you have to choose an alternative method to receive your winnings.- CO Editor
In the following sections, we have provided answers to the following questions:
We cannot declare any one method as the best casino withdrawal method. The best casino withdrawal method for you depends on a number of factors such as the following:
If you select the following withdrawal methods, you can look forward to instant withdrawals:
Each online casino has its own withdrawal policy, which gives players a very good idea of the processing time frame, withdrawal fees, withdrawal time frame, verification procedure, and minimum and maximum withdrawal limits.
Withdrawal Limits – Online casinos can make three types of restrictions when it comes to processing payouts:
Cashing out winnings is a simple procedure, which usually involves the following steps:
Top-rated online casinos are required by licensing bodies to verify player accounts prior to processing withdrawals for security reasons. Players may feel that this is a hassle, but the verification procedure is essential to verify players’ age, identity, nationality, and the fact that they are the true holders of the credit/debit cards or eWallet account they are using for deposits and withdrawals. This is to ensure that the payouts reach the right person.
As part of the verification procedure, players have to scan or take photos of the following documents and either send them to the online casino through email or upload them on their gaming account pages:
If you feel uncomfortable about sending copies of your credit/debit cards, you can always blur out some of the digits of your credit card number and the entire CVC number on the back of the card. The online casino will not process payout requests until and unless your account is verified.
Withdrawal Time Frame – As soon as you make a payout request, it enters a “pending” state, during which players are free to reverse their requests. During the pending state, the online casino verifies player accounts. This takes one or two days or more if players haven’t sent the supporting documents.
The online casino takes another day or two to actually process payouts. It then credits the payouts to players’ preferred payout method. The time taken for your winnings to appear in your account depends on the preferred payout method. While eWallet withdrawals are instant, wire transfers may take up to a week.
How to Increase Withdrawal Limits – The only way is to select online casinos that either do not have any withdrawal limits or have very high limits. Some online casinos will increase your weekly/daily/monthly withdrawal limits if you achieve higher levels of its VIP Club. Also, make sure to register at an online casino that pays out progressive wins and jackpot wins in lump sums.
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The minimum withdrawal amount varies from casino to casino and from payment method to payment method. Players have to either contact customer support or check out the online casino’s banking page to get an idea of exactly how little they can withdraw at a time.
An eWallet, also referred to as an electronic wallet, is an online service or electronic device that enables consumers to make payments for products and services purchased at online stores. Since consumers don’t have to reveal their banking or credit card details to the online merchant, eWallets present a safe, secure, and anonymous way to pay for goods and services online. The service is also very fast, sometimes instant.
Some of the most used eWallets are Neteller, Skrill, and PayPal. Online casino players can use these to make online casino deposits.
This depends entirely on the online casino and the game provider it has partnered with. You can withdraw amounts as much as or equal to the maximum withdrawal limit without any hassles. The online casino may just ask you to undergo a verification procedure, as part of which you have to submit documents that prove your age, identity, country of residence, and ownership of credit/debit card or eWallet account.
However, the case is different for progressive jackpot wins. Some casinos will payout the entire amount in one go. Some casinos may take a longer time to pay out progressive wins. And some casinos pay out progressive jackpot wins in increments equal to their maximum withdrawal limit
Our recommended online casinos do not charge any fees for processing payouts. However, some casinos may charge withdrawal fees for certain payment methods. Simultaneously, banks, credit card companies, and financial institutions may charge processing, transaction, and foreign currency conversion fees, which the online casino has nothing to do with.
Right now, all online casinos do not offer cryptocurrencies such as Bitcoin, Bitcoin Cash, and Ethereum as casino payment methods. But we have recommended many that do and we encourage you to sign up at our recommended Bitcoin online casinos to get started.