I think I am not alone when I say that besides playing my favorite online fruit machines and classic table and card favorites, like roulette and blackjack, and claiming lucrative bonuses with low wagering requirements, the next most thrilling thing about an online casino is the part where I get to withdraw my winnings.
I’ve deposited countless times and lost those entire deposits more times than I can remember. However, I typically only deposit $£10.00 or $20.00 each time.
I’ve also withdrawn some pretty decent amounts on several occasions, and my typical withdrawal amounts range from:
$/€/£100 or $/€/£200
up to as high as
$/€/£800 to $/€/£1,500.
After checking my transaction history on each of my accounts, I’ve discovered that out of all the deposits/withdrawals I’ve made on the majority of sites, I’m well in the green (+ balance) and only in the red (- balance) on a handful of sites.
I also find that when I am withdrawing any winnings I have accumulated, the process is just as easy and frictionless as depositing money. With that said, here is a closer look at the standard withdrawal process you will most likely encounter on any legally permitted iGaming websites you decide to join.
What can you expect when you withdraw your winnings for the very first time?
When you have accumulated a bankroll that is a decent sum, and you decide that it’s time to withdraw, you should find the process for cashing out winnings is relatively straightforward, as I have found on every decent casino site on which I have played. However, there are some things that you should know, which I have learned over the years.
The exact withdrawal process will vary slightly depending on which online payment method you use to cash out your winnings. I’ve used in the past:
Visa debit cards
Direct bank transfers
Neteller
Skrill
for withdrawals; I found each of these secure online payment methods enable a frictionless process that makes it easy to withdraw winnings.
When anyone signs up to a fully licensed and regulated website that enforces the KYC (Know Your Customer) account verification process, the process has to be completed and verified before any attempt to withdraw money is made.
In other words, that site’s account verification department must verify your documents to prove you are who you say you are (and that you are of legal age to play on their website); otherwise, temporary withdrawal restrictions will be placed on your account.
The types of documents required to get yourself verified include the following:
Proof of identification – whenever I’m getting myself verified so I can withdraw my winnings, I always upload a scanned colour copy of my driver’s license or passport. Just make sure the ID is valid (i.e., in date/not expired) and that it’s not blurry or cropped, etc., or it will be sent back and prolong the verification process
Proof of address – I try to send a recent bank statement that clearly shows my name and current address (the address I supplied the casino with during the sign-up process) and always make sure it’s less than twelve weeks old (standard requirement). Alternatively, you can send them a recent mobile phone bill, bank/mortgage statement, or energy bill (e.g., gas or electricity). Again, to ensure it’s accepted the first time, make sure the documents you upload are less than three months old and clearly show your name and address
After uploading your documents via the secure upload feature when logged into your online casino account, the account verification department can verify them.
I’ve found that it can take anywhere from a few minutes up to usually no longer than 48 hours for documents to be verified so any withdrawal restrictions that were temporarily placed on your account can now be lifted.
How to withdraw your winnings
On most sites, you must withdraw your winnings using the same method that was used to deposit money. However, if you use a payment method that can only be used for deposits, such as the Paysafecard or AstroPay card prepaid cards, an alternative withdrawal method that’s registered in your name would have to be used.
All you have to do, when any winnings are to be withdrawn, is go to the cashier/banking section when logged into your account, select your preferred withdrawal method, and then enter the amount you wish to withdraw. Now, follow the simple onscreen instructions that appear on the screen, confirm the information is correct, and proceed with the withdrawal to complete the transaction.
Most withdrawals I’ve made have been processed in under three hours, but the exact time it takes can depend on which online payment method you use to withdraw, how much you are trying to withdraw, how busy the payment processing department is on that site, and what time and day of the week it is.
Are some sites quicker than others at processing withdrawals?
Yes. I would suggest that you browse casinos that offer fast withdrawal times instead of signing up to sites that are notoriously slow at processing withdrawals. A full list of secure instant withdrawal sites can be found on the official Ask Gamblers review site.
Final thoughts
When spending your hard-earned money on your favorite sites, the most important thing to remember is to gamble sensibly and responsibly at all times.
Also, remember that if any charges are applied to your withdrawals, it’s very rarely the casino operator applying those fees.
Your payment provider may add a small fee to your deposits/withdrawals, so always check for this before choosing which online payment method to top up your account and cash out your winnings.
