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How Do Online Casinos Pay You Your Winnings?

How Do Online Casinos Pay You Your Winnings?

After playing at the online casino, you may have some winnings that you would like to withdraw from. Generally, you have the right to withdraw funds from your player account at any time. But if you have activated a bonus, you will only be able to withdraw money once you have completed the terms of the bonus.

In order for an online casino to pay you, you need to go to the bank section of the casino. There, you will see several withdrawal options. It is up to you to choose the one you prefer.

Note that sometimes it is better to withdraw funds from your player account through the same method you used to credit it. You will then need to type in the amount you would like the casino to withdraw before sending the request. Be aware that you do not have to request the casino to pay you all the money that is in your account. You can leave some money in there to continue playing.

Owing to the sheer number of online casinos operating online, the best online casinos go out of their way to make things easier for users. This is why you rarely hear any stories of delayed payments of bonuses or winnings.

That being said, how casinos go about the process of handing out winnings varies completely from casino to casino. To help our users develop a better understanding of the situation, we’ve compiled a detailed guide that explains all that you need to know about how online casinos pay you your winnings.

A Comparison of Different Banking Methods:

It’s no secret that online casinos use numerous banking methods to make things easier for their users. This allows you – the player – the luxury to choose how you want to add deposit your money to the online platform (e.g. be it a money transfer, a paid voucher, or an electronic wallet, etc.).

However, when it comes to collecting your winnings, you’ll need to pay close attention to the withdrawal policy of the casino you’re playing at. For example, if you opt to collect your winnings in your electronic wallet, the money will be transferred to you in a matter of minutes, however, if you choose a Visas payout, it can take weeks for your money to reach your account.

Banking Methods

That being said, it’s important to understand that while electronic wallets like NuCharge and YouTeller enable you to receive your winnings almost instantly, they’ve been outlawed by a few countries (including the United States). So, always double-check that you’re not breaking the law when collecting your payouts.

The Curious Case of Casino Bonuses:

Most gambling enthusiasts love online casinos because they offer lucrative, and frankly unbelievable bonuses. There are some who offer to double your initial cash deposit while there are others who promise in-house benefits like free bets.

While all these casino bonuses are perfectly valid, they come with a strict set of terms and conditions. If you don’t satisfy these requirements then the casino site isn’t legally obligated to pay you a cent.

So, before you opt for a casino just because it pays well, always makes sure to read the fine print to avoid disappointment in the future!

Special provisions to ensure the security of transactions

Regardless of the online casino, you are registered with, you don’t have to worry when it comes to withdrawing your winnings. Special arrangements are made to ensure that you are satisfied. But in order not to have any regrets, it is better to take your time to choose your gaming platform well. Unfortunately, there are scam platforms that do not pay their players. Make sure that the virtual casino you are playing at is licensed by a well-known organization in the industry.

Other Payment Options:

Apart from the incredibly quick electronic wallets and the highly secure payment options like Visa and MasterCard, there are also other alternatives that you can opt for to collect your winnings. Among these options are wire transfers which are faster than most credit card companies but they charge around $30-35 on every transaction.

And there you have it; all you need to know about how online casinos hand out winnings. We hope this clears up any confusion that you may have had about the subject matter and that you’re now more willing than ever to bet and win real money at online casinos.

The NewCasino.org platform was founded to celebrate and champion our gambling culture. Our team tries its level best to make your time on our website worth your while by constantly adding the latest casino games to our platform. We also host a wide selection of mobile casino apps that allow you to get your gambling fix when on the go!

How Do Online Casinos Pay You Your Winnings? FAQ

  • Are online casino payouts free?

    When you make a deposit into your online casino account, there are usually no fees charged. However, this is not the case for withdrawals. There are fees that are deducted from your account when you withdraw money from it. These fees are not fixed and depend on the pricing policy of the gambling establishment and the payment method used. But most of the time, these fees are not very high. They range from 1 to 2% of the amount to be withdrawn. Online casinos use these fees to cover the costs of processing and sending payments.

  • Should I check my winnings after making the transfer from an online casino?

    Double-checking your winnings should be a habit of yours. After making a request to withdraw money from an online casino and if you have received the money you wanted, check your player account to see how much money you have left. If, for example, you had $500 in your account and you made a request to withdraw $200, you should find $300 in your account. If this is not the case, contact the customer support team as soon as possible to report the problem.

    Some players have complained about not being able to get all their money back after a big win. In fact, online casinos don’t like it when a player hits the jackpot and decides to withdraw all the winnings in order to not play there anymore. If you have made a big win and you want to withdraw it all, you may be asked to withhold a portion of your winnings. What you should know about this is that many countries have a legal framework that has been put in place to regulate the online gambling industry. And there is no law that gives an online casino the right to prevent a player from withdrawing all of the money that they have won.

  • What are the most popular payment methods?

    Credit cards are widely used for payments because of their efficiency and speed. The same is true for prepaid cards. Most of them use electronic money and many online casinos use them to pay their players. Another trend is the use of e-wallets, which are becoming more and more popular, as they are used by online gambling platforms to pay their winners. The most used device is undoubtedly Skrill. Institutions prefer it more because it works with several currencies. Besides, it is an easy way to exchange money.

11 Jun. 2018, by

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