Understanding casino withdrawals. The limits and restrictions that casinos use when handling player withdrawal request. Everything you need to know!
Getting to spend and enjoy what you win at online casinos is, of course, the biggest incentive to gamble. But before you can withdraw your bankroll, you need to brush up on the limitations put in place that might restrict how much you’re allowed to cash out.
Withdrawing your casino winnings is a different procedure depending on the casino you’re playing at. Each has its own rules, restrictions and limitations, but in general, they all use the same parameters.
Withdrawal Caps
This is the biggest and most common limitation that casinos implement to prevent huge amounts of money leaving their bank accounts in one go. Withdrawal caps specify the total amounts (minimum and maximum) that can be withdrawn. The lower limits are often between 10 or 20 (€£$) with the maximum sitting between 5k – 100k.
Timing
The amount of money you can withdraw is usually specified based on day, week or even month. They can also combine this with a cap on the number of withdrawals you can make, regardless of the amounts. For example (plucking this example out of thin air), you might be told that you can withdraw a max of 5k and request a total of 10 withdrawals in any given week.
Casinos set their own rules so the best way to find out exactly what’s in place is to check the banking section of your preferred brand. For the casual gamer, these limitations shouldn’t cause too much hassle, but if you like to play for big stakes, you might run into them more times than you think.
Here is an example of the Withdrawal times at Rizk Casino.
| TYPE | LIMITS PER TRANSACTION |
|---|---|
| Bank Wire | min £20 / max £50,000 |
| Card Deposit | min £20 / max £5,000 |
| E-Wallet | min £20 / max £5,000 |
| Prepaid Voucher | min £20 / max £200 |
| E-Wallet | min £20 / max £5,000 |
| Internet Banking | min £20 / max £100,000 |
| Card Deposit | min £20 / max £5,000 |
| payment-options.types.CreditCards | min £20 / max £5,000 |
High Roller Withdrawals
High rollers are the big spenders in the casino space, and for these players, the withdrawal restrictions can be a constant headache. When you’re playing with large sums, you often win equally large amounts. And for these serious gamers, they need to know exactly how quickly they can access their funds. High stakes always come with high risks.
These players are of course welcome into casinos with open arms and are often given additional perks to tempt them to play. These include bonuses, VIP account managers and speedy withdrawals that have huge limits. With big money to play with, casinos will often negotiate their banking terms and try to facilitate their needs where they can.
Speedy Payment Methods
When you start looking at the times involved when withdrawing using the various banking methods, you’ll quickly notice how slow some methods can be. Bank Wire is often up to 3 days, and the same can be said for Visa / Mastercard withdrawals. The fastest banking method a player can use is Paypal. There’s plenty of Paypal Casinos online for this reason. They’re a safe and very trusted E-wallet that can be used to move money in and out of your bankroll instantly.
Account Validation
A step that every casino has to carry out when transferring funds is the account validation process. Winning a big bag of money to be told you need to send over identity documents, as well as wait for them to be manually approved, is a real downer.
Some casinos will allow new users to register and deposit without validation, and only after they try to withdraw will they be asked to prove who they are. This is fine for honest gamers who can prove their identity, but for players without the correct information, they face the risks of trapping their funds in an account they can’t withdraw from.
