Learn How to Withdraw Money from Online Casinos. Safe and Secure Methods Discussed

Even though the actual labels, buttons, and placements may vary, online casinos have a pretty standard way for you to request a withdrawal.

1. Meet the wagering requirements. Casinos require that you turn over your bet amount at least one time before you’re able to withdraw it without a fee.
2. Look for the Cashier button. Usually, this allows you to access control options for your casino account.
3. Choose Withdraw and select a withdrawal method. At this point, you should be able to select a withdrawal method. Any casino normally has a few options that you can choose from.
4. Finalize your withdrawal. Enter your withdrawal amount, fulfill other requirements to your chosen payment method, and click Withdraw.

Then, you just have to wait. Depending on your selected method, the money may reflect instantly, within a few hours, or within a few days. Depending on the operator’s discretion, there may also be verification checks before they process your withdrawal.

The good news is operators nowadays ensure that every player who uses their site will find at least one method that they’re familiar with. So, there are many payment methods available at casinos today!

Bank Transfer

Bank transfers are the holy grail of withdrawal methods. They are highly trusted because banks require a high level of verification before giving you an account. That’s why, in some fiat casinos, this is the only permitted money-out transfer method.

Just make sure to plan your cashouts accordingly because, unfortunately, it can take a while for your funds to be processed. This is, by far, the slowest withdrawal method because the bank itself will also want to verify that the money you sent isn’t laundered.

Local E-Wallets

Local e-wallets like GrabPay, Paymaya, and GCash are widely used in the Philippines. That’s what makes it convenient to use them to receive casino funds. In general, e-wallets are already associated with fast withdrawal processing times. However, what we like about local options is that players who encounter issues with the service have more avenues to let their complaints be heard.

If you don’t hold a bank account or a debit card, local e-wallets are great options. They’re fast, convenient, and, most importantly, have a low barrier to entry.

Skrill

Skrill is a digital wallet brand founded in 2001, and it has since become popular worldwide. It supports more than 40 currencies and is available in 100+ countries, making it a good option for players who use offshore casinos.

If you’re interested in using this withdrawal method, learn more about Skrill in casinos. Find options that are compatible with what you’re looking for.

Debit Cards

Debit and credit cards are highly flexible modes of payment that can be used practically everywhere. However, newbies may not know that there are many casinos accepting Visa and Mastercard payments.

Players normally choose this option for larger fiat withdrawals. However, even though this isn’t an issue with reputable casinos, many are still wary of using this method because of the potential for their information to be stolen.

Cryptocurrencies

Even if the brand in question isn’t a crypto casino, it’s now common to find crypto payment methods. As the concept of an online casino coincides with the digitization of something that exists in “real life”, adding this as a withdrawal option has appealed to a lot of crypto enthusiasts.

If you’re thinking about withdrawing money with Bitcoin or any other cryptocurrency, you’ll need to set up a crypto wallet. Also, make sure that you understand that, unlike its fiat counterpart, its value is very volatile.

As you’ve seen in the previous section, every option is someone’s top choice because every method has unique advantages. So, how do you choose which method to use? Here are a few things to take into account:

How Quickly Are Transactions Normally Processed?

There are many casinos that allow fast payouts. On these sites, it may not matter that much which withdrawal method you choose.

But let’s say that you’ve gone with a regular casino that has regular processing times. You will want to stick with options that are known for allowing you to get your funds quickly. E-wallets and cryptocurrencies are both great options here.

Convenience to You

Let’s say that you don’t have an e-wallet account. Does it make sense to create one just for an online casino? There’s no right answer to that.

However, unless there’s a strong and very specific need for you to use a certain method, why not go with something more convenient? If you already have a bank account, it will be easier to just make a bank transfer.

How Much You Plan to Withdraw

There are withdrawal limits assigned to each method. The operator has some level of control over this, but you’ll notice that some options just have higher limits than others. If you plan to withdraw a lot in one go, your options will be limited to methods that let you cash out significant sums.

In the same way, if you only plan to withdraw a little bit, you’ll want to go with the cash-out method with the lowest minimum withdrawal requirement.

Are you ready to make a withdrawal? Just hold off! Make sure that you’re not making these mistakes:

Not Meeting the Wagering Requirements

Yes, even if you’re not participating in a bonus, you still have to meet wagering requirements. This is done so that people can’t use an online casino for money laundering. If you withdraw before you complete this requirement, be prepared to pay a fee.

So, how much is the turnover? It depends! For some, it’s just 1x. However, we’ve seen this to be as high as 5x the deposit amount.

Meeting a Turnover Requirement for a Bonus

Many casinos terminate your progress toward meeting wagering requirements when you make a withdrawal. So, if you want all your efforts to count, you have two options:

1. Hold off participating in a promotion.
2. Finalize your withdrawal before going for a bonus.

There are many ways by which an online casino operator can approach this issue. Know what applies specifically to where you’re going to withdraw to avoid an undesired outcome.

Entering the Wrong Details

Now, this is perhaps the biggest mistake that you can make. Many casinos don’t allow you to cancel withdrawals. This means if you enter the wrong account number by a single digit, your money will be lost forever.

So, make sure to double-check the details before finalizing any withdrawal. If the online casino you’re using allows you to save the details, use that option.

Online casinos have a lot of rules associated with withdrawals. If you want to do things right, read the terms and conditions. All the intricate details are there. By being an informed bettor, you can avoid fees and delays when you perform a cashout.

What’s next? Now that you know everything about withdrawing your money, complete your cash-out transaction and celebrate your win!