There are so many things to think about when you’re choosing a good casino or betting site. For most people it can be pretty overwhelming, so they just pick one that looks pretty and be damned the consequences. That’s not the route we want you to take, and by the fact you’ve landed on this guide means you don’t want that either. Various aspects should be considered whether it’s the terms and conditions on the site such as wagering requirements, the casino bonuses, or how easy it is to credit your account. But the one we’re going to focus on here is probably the most important and that is withdrawing credit on an online casino.
Not only will we bring you what to do and our top tips, but we’ll recommend a few of our favourite betting sites who are all UK Gambling Commission (UKGC) licenced.
Winning on an online casino is such a thrilling experience, but how long that feeling lasts is all down to how easy you find the cashing out process. It can have difficulties, but hopefully after this you will be prepared and can make the right choices to streamline removing any funds, so you can go and enjoy your winnings.
How to Withdraw Real Money from an Online Casino
You’ve waited patiently for that big win, and you can see the credit in your casino account. Do you use it for more gaming or remove it? If you decide to remove it and you’ve never done that before, then you will probably want to know what to expect. How simple it is will depend on the banking method you choose, but most betting brands have aimed to make the process as quick and painless as possible. There will always be legislation and regulations which can cause additional problems, but we’ll delve into that a little more as we go through the process.
Bear in mind that this is a generalised guide and there may be slight differences on each betting site. But most will follow a similar route, mainly to ensure that they comply with any UKGC rules.
Procedure for Withdrawing Credit from your Gambling Account
Log into your Casino account and head to the ‘cashier’ or ‘wallet’ page.
Opt for the ‘withdrawal’ section to begin the process.
Choose which banking method you want and complete the required details. You should be aware that on many gambling sites you have to use the same payment option that was used to credit the account. Within the cashier section you will see all the details in regards to the timescale for the withdrawal to occur and any fees associated with using this option.
Input the amount of money you want to withdraw from your casino account.
There may be additional steps for verification depending on the site, but once completed you should receive a confirmation of approval.
In general, the process is relatively simple, but if you have any questions or difficulties then we would recommend that you contact the gaming sites customer service via the ‘contact us’ button.
Reputable Gambling Sites for Withdrawing Winnings
Most reputable gambling sites will make the cash out process quick and easy for their customers, so that is step number one; pick a good gambling site. Here are a few of our top picks, but you should be aware that if you have a delay in payment, it may be down to other factors which we will explore in this guide.
How Long Does the Casino Withdrawal Process Take?
There are two important areas to consider when answering the question of how long the withdrawal process will take. Firstly, it will depend on your choice of gambling site and secondly, which payment method you have used. Both the gambling site and the bank will take time to fulfil the request, but you can reduce this by your specific choices.
The average withdrawal time is about two to three business days, and the site will allow you to cancel before the money is sent through. Here are a few of the top payment methods available online and their processing times.
Banking Method Withdrawal Time
Debit Card 3 to 6 Business Days
E-Wallets 1 to 3 Business Days
Bank Transfers 5 to 8 Business Days
Again, there is no definite answer, because if there are complications then the time may be longer. But you can use this gauge to see why many gamblers are transferring to e-wallets as their preferred choice.
You will notice that we haven’t mentioned credit cards, and this is because the UK Gambling Commission (UKGC) brought in a credit card ban on the 14 April 2020. During a public consultation conducted by the UKGC, they found that 22% of problem gamblers used credit cards and so the ban was brought in to reduce gambling harm.
What Reasons Can Cause a Delay in Your Casino Withdrawal?
We all look for fast casino payout, but there are a number of factors which can influence how quickly you are paid by the casino. Some of them are from the site themselves whereas others are external influences. The below points are the more common reasons behind a delay.
Terms and conditions – More specifically wagering requirements, because if you accept any bonuses or free spins, they will come with conditions attached. Wagering requirements mean that you must bet a set amount before you can withdraw any money. So, for example, if you enjoy a £10 welcome bonus on 65x wagering requirement, then you have to play through £650 (65 x 10) before you can withdraw. There will be a calculator on how much you owe on your casino account, so keep an eye on that. Also be careful of the games you play because they all have varying game weightings. Slots tend to be better with a 100% weighting, so if you bet £1, then £1 will be removed from the wagering requirement.
Withdrawal Limits – Most betting sites will have a minimum amount you can withdraw. So, for example if the amount is £10 and you only have £5 in your account then you cannot remove any funds. This is because it is additional work for the casino and as such it needs to be an amount worth their time. You may notice that your casino has a set daily, weekly or monthly limit, but you will find further details in the terms and conditions.
Bank holidays and weekends – You will notice under the banking method section that we put the withdrawal time as business days. This is because you may find that both the betting site and the bank don’t process withdrawals on weekends and bank holidays. It’s really just something to consider if you’re eager for the money.
Know Your Customer Check – The KYC checks aren’t just at the point you register on the site. They can also be conducted at the point you wish to remove funds from your casino account. You will probably be aware that they were introduced as a way of verifying the players identity and age, to stop vulnerable people being harmed by gambling. But also, as a way to limit the gambling industries exposure to money laundering. Identification can be in the form of a passport, driving licence and a utility bill to name a few.
Source of Wealth Check – Similar to the Know Your Customer Check, you have the Source of Wealth or Source of Funds check. This normally occurs when the player bets out of their normal pattern or deposits a large amount of credit. Again, it is used to protect vulnerable players who may have gambling addictions. The check is based on financial documents rather than identification and they must prove that the player had the funds available to place the level of bets they have requested. Documents such as pay slips, contracts of employment, bank statements and even wills can be used as proof. SOW checks can be done sporadically by the casino, but many players find that it occurs at the point they choose to withdraw. This is not only an annoyance because it will cause a delay, but it also means that if the player cannot prove they have the funds, then they may have their account closed or frozen.
Casino Holding Periods – Sometimes a gambling site will have a couple of days holding period before beginning the cash out process. This is to ensure that the player definitely wants to remove their winnings and not play through the money instead. It can be seen as being a bit sneaky by the casino because it feels like they’re enticing us back in, rather than letting us have the money. The site would explain that it is due to the manpower needed to process withdrawal claims, so they allow the customer to think about it before they complete the transaction.
Online Casino Security
One of the most important aspects of online gambling is how safe the site is. Most casinos have to ensure they follow strict protocols so that they can have their UKGC licence. As such they will have the same level of encryption software as top financial institutions. To make sure the site is safe look for a security certificate on the sites home page at the bottom, which is normally labelled SSL (Secure Sockets Layer).
Gambling sites know that they have to take extra levels of precaution against hackers and cyber threats. So, you should have a level of confidence that if they are licenced by UKGC and have a safety certificate, then you will be ok.
Casino Withdrawal Fees
The amount of withdrawal fee you will be required to pay, will be completely dependent on the banking method you have chosen. For debit card and e-wallets such as Neteller, Skrill and Ilixium, there is normally no fee added.
You tend to find that as well as being slow, bank transfers will also come with processing fees attached. This is probably why it is the most unpopular option for online casino banking.
Summary of Withdrawing Credit on an Online Casino – Our Guide on What to do
We hope you have all the information you need and are well equipped should you want to withdraw from your online casino UK. Yes, there can be slight differences on each site, but you’ll find the general premise is the same, it’ll simply be the layout that is different.
Be careful with those sneaky processing charges, because they can be based on a percentage of the amount of winnings you are choosing to remove. But all of the information on fees will be available in your casino account. If you’re unsure whether you have been charged extra before, then remember that you can check previous withdrawals under the ‘payment history’ section.
The final area which catches people out the most is wagering requirements, so we always recommend that readers check out the terms and conditions before they agree to any bonuses. Depending on the multiplier, you can be tied in for quite a while and that can get frustrating.
All that’s left to say is we wish you luck with your gaming and hopefully a smooth cash out process!