How Do Online Casinos Pay Your Winning?

How Do Online Casinos Pay Your Winning?

John Florence
John Florence

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

 

How Do Online Casinos Pay Your Winning?

One very common question beginners ask is how they get paid their winning and how fast it can be. There are many ways to receive your winnings, and they vary across casinos. Some of the most popular channels are Paypal, Neteller, Bank transfer, Credit or Debit card withdrawal.

However, it’s important to note that most casinos allow you to access your withdrawal only through the method of deposit. The real frustrating thing about online casinos is that it is easier to deposit than withdraw. You can quickly deposit and play without completing their verification processes. The headache comes when you want to withdraw.

 

Are you interested in knowing the easy, fast, and reliable methods to withdraw from an online casino? Well, this article is written primarily for you.

Online Casino Withdrawal Process

These days most casinos require their player to complete a KYC(Know Your Customer) registration in some countries where there are age limits to gambling. You might be required to submit some documents that show your age and prove that you are eligible to play in a casino.

To make withdrawing your payout hassle-free, you have to make all the required documents and information available. It’s advisable to complete all registrations even before making your first deposit. Documents like Bank statements, International passports, or Birth certificates might be required. 

 

Once you can provide all the crucial documents and information required, you can carry on with your withdrawal.

You can get step-by-step guides on how to go through the registration, deposit, and withdrawal process of all online casinos here.

Withdrawal processing time varies across the platform. E-wallets and cryptocurrency are the fastest payout methods for online casinos.

 We will discuss that in detail later.

 

Regardless of the method, you will be choosing to withdraw your funds from an online casino. There are three significant steps you must follow.

  1. Request of Funds
  2. Approval of Funds
  3. Processing of Funds

Request Of Funds

Let’s assume you hit the jackpot and want to withdraw your winnings and have fun with your friends. On the homepage or dashboards of most casinos, you will see a “WITHDRAW” button. You will be required to fill in the amount you would like to withdraw and the method you’ll want to use. Don’t forget you can mostly withdraw through the route you made the deposit. The online casino provides other alternative methods if it doesn’t support your withdrawal through the deposit channel.

Fill in the correct information carefully and take time to cross-check before submitting. After this process, your request will be forwarded to the finance team for approval.

Approval Of Funds

The approval stage of withdrawal can either be automated or manual. For the approval process, your details are verified and cross-checked with the data collected from you during registrations. The relevance of your credentials. Are they still valid or not?

The approval stage can be automated or manually carried out by humans, depending on the casino. Also, the casino can complete this stage in 24 hours and forward your winning for processing.

 

Processing Of Funds

This is the final stage of withdrawal and mainly takes the most time, depending on your chosen method. This is a list of popular withdrawal methods and how long it takes to withdraw.

  • Cryptocurrency – Instant
  • E-wallets (Paypal, Neteller, etc.) – Within 24hours
  • Bank Transfer or Card Payment – 3 – 10 business working days.

 

Conclusion

When done right in a regulated casino, claiming your winning should not be an impossible task; provide the necessary details and documents, and you are good to go. Happy withdrawal, and enjoy your winning. You can also check out our articles on how to check the legitimacy of a casino here.  

 

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