Playing online casino games is fun, winning is even better, but what’s really exciting is getting your cold, hard cash after you win. But casinos cannot simply send you money – they have to triple check that you’re the right person, that they’re sending it to the right place and that your withdrawal is 100% legal (and not a form of money laundering). Otherwise the international authorities they answer to will shut them down in a snap. For you, this might mean a few extra hoops before your first withdrawal is executed, but nothing ongoing or that you can’t handle.
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Let’s start with the absolute obvious: all online casinos have strict rules that you, and they, need to follow before you get your withdrawal. Most complaints about any casino arise from the first attempt at a cash out, because the casino is taking too long. If the casino is legit and above board (like all of ours), then they aren’t trying to cheat you: They have to check, double check and triple check that your withdrawal is legal, is for personal gain, is going to the right person and abides by the laws of the country and state you live in. Otherwise, they are liable too.
Any online website that handles money is susceptible to hackers and money laundering, but online casinos are also subject to particularly stringent international laws. That’s why in most upright casinos, you’ll find security protocols way beyond what almost all banks, even international banks, or credit card authorities require: They are making sure they, and you, aren’t being robbed and from the other side of the planet, with another million users to check as well, that’s no simple task.
So get your photo ID ready in triplicate, make sure all your files are in order and you’ve read all your T&Cs: the first withdrawal is usually the hardest and takes the longest, but once all the security checks are done, the subsequent casino cashouts should be lemon squeezy.
This is one of the most difficult things for most people to understand, particularly when tempted by a luscious Sign Up Bonus. The Welcome Bonus is designed to give you free play – not to give you free money.
Short history: After one too many players took advantage of the welcome bonus and cashed out without even trying the casino’s games, the wagering requirements were born. Wagering, or playthrough, requirements mean that you have to use the bonus money to play a fair amount of games in the casino and to try out the facilities before you can withdraw any money.
So if you accept a welcome bonus, you’ll have plenty of casino cash to play and test out your favourite games, but you’ll need to finish the play-through (wagering) requirements before you can withdraw your winnings.
Each casino has their own wagering requirements – they will be clear as day in the T&Cs, which you should always read before accepting any bonuses anyway.
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Most, but not all, casinos have monthly withdrawal limits: both a maximum and a minimum. That means you can only withdraw a certain amount every month.
This is particularly important to know before you go in for any of the big jackpot games – it may take a while to withdraw all your winnings.
Different withdrawal limits may also be in place depending on your chosen cashout method: so withdrawing via bank transfer might have a higher withdrawal allowance than an e-Wallet.
But there’s an upside to these limits too: if you get a windfall win, you won’t raise a red flag with the ATO, they won’t put a stop on all your transactions until they can investigate further. And you won’t have to give up an extraordinary amount of what you won in taxes.
Most people won’t check the withdrawal requirements before they make a deposit, but you really should. Firstly, not all deposit methods are available as withdrawal options. Secondly, while a deposit may go through immediately, withdrawals typically take at least a day and can take up to two weeks (in the case of bank transfers).
Different casino withdrawal methods can also cost different amounts: for some methods it might be free, but for others it might be a percentage of the amount you’re withdrawing. So the first step is: when you’re choosing your deposit method, make sure your preferred withdrawal method is available and that you read the fine-print too.