If you want to gamble at an online casino, it is of course very important that the matters surrounding depositing and paying out money are very well arranged. The payment environment must have excellent security and you must be able to deposit money into your account via the method that is best for you.
In addition, it is nice to know how quickly the online casino makes the payout and whether there are any other snags. Although it seems logical that all online casinos are well organized in this area, there is quite a difference between them.
Withdrawal: pay out, withdraw and refund money
Since almost all online casinos offer their services in English, you can often find the payout of your winnings under the term ‘withdrawal’. When withdrawing, it is important to pay attention to the payout options and the conditions, for example in the field of bonus money. The minimum and maximum withdrawals can also be important if you win large amounts or if you want to play for small amounts as well. We tell you more about all these matters here.
Most common payout methods
It may differ per online casino which payout options are offered. However, one or more of the following options is common:
- Bank transfer
- Creditcard (VISA, Mastercard)
- iDeal
- eWallets like Skrill, Moneybrokers or Neteller
- PayPal
- Trustly
The bank transfer method speaks for itself: you get the money deposited into your normal bank account. This is also the case when you use a credit card. Also interesting are the various options that eWallets give you. These electronic wallets are well guarded and act as a sort of intermediary between you and the online casino. This gives you more privacy and gives you a simple overview of the income and expenses you make online. PayPal can also be seen as a kind of intermediary and has the advantages of having excellent conditions and security for the users. Trustly is a program that allows you to make an encrypted connection with your bank, so that you can, for example, cash out your casino winnings online more securely.
Cashout conditions: what you should pay attention to
It is very important to read the terms and conditions of the online casino where you want to play before creating an account. In these general terms and conditions you can find a lot of information about, among other things, the withdrawal. These conditions vary quite a bit per online casino. So if you have experience at one company, but switch to another, it is important not to blindly assume that the rules are the same. In addition, if no clear conditions are given, it is wise to look for another online casino. Safe and legal online casinos themselves are as clear as possible about this to avoid misunderstandings. It is useful to read carefully how you can be paid, how long this takes, from what amount this is possible and, for example, how customer service is set up,
Bonus conditions and bonus money
The conditions for, among other things, the welcome bonus are very important to read carefully. The welcome bonus at an online casino is often tens or even hundreds of euros, but there are conditions attached to this before you can permanently keep the money and have it paid out. Often these are things such as:
- Playing the money several times: wagering the bonus money several times at various casino games
- The bonus is sometimes only valid for, for example, the casino section or the sportsbook section of an online casino.
- A maximum of one account per IP address may use the bonus
- You will only receive the bonus after depositing a minimum amount
If you do not comply with the rules of the welcome bonus or the other bonus promotion, you will not be able to withdraw the amount and you may have to return the bonus amount. So handle this carefully and read the terms and conditions carefully. At a good online casino you can also ask the helpdesk for more information if you are not sure about the rules surrounding the bonus.
Minimum withdrawal
The minimum withdrawal can vary considerably per casino. However, there are virtually no online casinos where no minimum has been set. In the unique case that this is the case, a percentage of the withdrawal often has to be paid to the online casino. This is to prevent people from immediately withdrawing every euro they win, which makes the casinos have a lot more work to do. The minimum is often 10 euros, but at some online casinos it is up to 30 euros.
Maximum withdrawal
The maximum withdrawal can differ at different online casinos. The lack of a maximum is rare, but the exact high varies and can be per transaction or per day or month. As a player, you naturally prefer to gamble at an online casino where you can quickly pay out a possible jackpot. That is why it is wise to choose a casino without a withdrawal limit or a provider with a high maximum withdrawal.
Pay out restrictions
Common restrictions, in addition to the minimum and maximum withdrawal, are the frequency of withdrawals. Withdrawals are usually only allowed a limited number of times in a certain period of time. And money that has been deposited cannot be immediately paid out again. This is, among other things, to prevent money laundering via the online casino. In addition, a restriction is that your account must be verified before you can withdraw money. Anyone who creates an account at an online casino must have this verified. The online casinos check on the basis of supplied documents whether someone is who they say they are. It may be necessary to provide a copy of a passport before an account can be verified. Until this is the case, no withdrawal can be made.
Pay out costs
It is also possible that an online casino charges fees for cashing out. This is by no means the case at all online casinos, so if you do not want this, you can look for a provider that does not charge for this. The costs for the withdrawal also vary considerably. This can be a percentage per transaction with a maximum of a certain number of euros, or it can only apply if a withdrawal is requested more than once a day or a few times a week. Also here goes: figure it out well before you start playing. The rules are always clearly written down at the legal and safe online casinos, so that you will not be faced with surprises if you have read everything properly.
How long does it take to pay out?
How long it takes before you get your money depends, among other things, on the chosen payment method. The eWallets and PayPal are usually the fastest, while the bank transfer and credit card payment can take up to five working days. This is partly because many of the online casinos are located abroad and the money has to be transferred from a different bank than where you have an account. In general, a waiting time of longer than a week is very unusual, while the digital methods sometimes give you your money within minutes.