05/03/2022 | Categories: Blog | Published by: James
If you play with real money at an online casino, then chances are there will be a time when you win real money. As such, it’s important that you sign up with a casino that makes it quick and easy to withdraw your funds back into your personal account. Generally, depositing is easy and instant, but there are often questions that arise when it comes to withdrawals. Cashing out money may take a few additional steps compared to depositing, especially for first withdrawals which usually need verification. This can be a little confusing, so we have created this guide to help you get to cash out your money quickly and easily.
How to Withdraw Your Money
So, you’ve played on the slots and your account is looking nice and healthy after a few wins. However, you don’t want to play the money, you want to withdraw it. Generally, once you know what you’re doing, and by the time you get to your second withdrawal, you should know exactly how it works. All different online casinos have a slightly different process, however, the general steps are pretty much the same no matter where you are playing. Here is a step by step guide to cashing out your money.
Log into your casino account. Go to the ‘Cashier’, ‘Wallet’ or whatever the casino calls it. Click on ‘Withdraw’ to start the withdrawal process. Select the withdrawal method, which should be the method that you used to deposit with. Fill out all the information required (if any). Enter the amount that you are looking to withdraw. Confirm your withdrawal amount and wait for the request to be processed.
Once this is done, it all depends on your casino and your chosen withdrawal method as to how long it should take for your withdrawal to hit your account.
Unlike deposits, which are generally instant, withdrawals usually take a bit more time to process. It shouldn’t take too long, but you may need to wait for a few days, depending on your casino and depending on the chosen deposit method. This is for two reasons:
Online casinos need to process your withdrawal request. The payment method processor for your withdrawals will vary.
In general, you should expect your withdrawals in a few days. You can also choose to cancel your withdrawal in that time if you wish to keep on playing with the funds instead. Bank cards, bank transfers, eWallets etc all have very different processing times, but here are the standard times that you should expect:
Debit Cards – Between 2-6 working days EWallets (PayPal, Neteller, Skrill etc) – Between 2hrs – 2 working days Bank Transfers – Between 5-8 working days
These are estimated. Many online casinos can often process eWallet withdrawals in under 24 hours. On the other end of the spectrum, bank transfers can take over a week to process.
Be aware also that many casinos put into place KYC (Know Your Customer) checks on first withdrawals. This will mean that you will need to email ID documents to customer services, such as passport, driving license, utility bill etc to confirm your identity. This can add a few days onto the process, but isn’t a regular thing.
Nearly all online casinos will put into place withdrawal restrictions. As such, it is vital that you read through all the terms and conditions beforehand. Here are some withdrawal restrictions you may come across when trying to cash out your funds:
Wagering Requirements: If your winnings come from a bonus or free spins, there is a high chance that the winnings will be subject to wagering requirements. So, if you claim a £25 bonus with 20-times wagering requirements, then you would need to wager £500 on the site before you can withdraw any winnings from the bonus money. Some even ask players to wager the deposit and bonus. This means that if you deposit £25 to claim your £25 bonus, you will need to spend 20-times £25+£25 (£1,000) before withdrawing your winnings. Withdrawal Limits: Some casinos will only allow players to withdraw a set amount of money – which could be per withdrawal or per month etc. This varies from casino to casino. Time Limits: You may only be able to make a certain number of withdrawals in a set time limit.
Generally, most casinos are pretty standard with withdrawals. Withdrawing your winnings from your real money wagers is normally straightforward, but withdrawals from bonuses and free spins can be a little tougher, so check all terms and conditions carefully.
Is There a Withdrawal Limit?
Most casinos have a withdrawal limit attached. This could be a limit per transaction, a daily limit, weekly limit or monthly limit. The amount this is depends on which casino you are playing at and which method you are withdrawing with. Bank transfer generally offers the highest withdrawal limits.
How Long Does it Take to Withdraw Winning?
This depends on the casino and payment method. Aside from KYC checks, eWallets are normally the quickest, often being processed within 24 hours, bank transfers can take upwards of a week.
Are There Fees for Withdrawing Funds?
Again, this depends on your casino and your chosen withdrawal method. Most casinos will not charge fees and will swallow any fees by the payment processor. Check the casino terms before making withdrawals.