How to Withdraw Winnings from an Online Casino in 2024
There are not many feelings better than the rush of winning big at an online casino. However, that feeling can quickly diminish if withdrawing that money becomes more of an issue than it should be. Perhaps there are withdrawal limits at the casino you won at, maybe they do not support the payment methods you want to use, or perhaps the casino is withholding the withdrawal until you verify your identity. As long as you do your due diligence, understand the casino's withdrawal policy, know what payment methods the casino supports, and get verified, you should never have any issues when you want to withdraw your winnings. So, let's take a look at what is needed when making a withdrawal and the sort of payment options you can expect to find at online casinos.
Our Top Casino Recommendations for Payment Method Variety and Quick Payouts
Before we get into the many different payment options at your disposal and what you need to know about casino deposits and withdrawals, let us point you in the direction of some top online casinos that offer a great selection of payment methods and faster payout times than most.
The Step-by-Step Process When Making Withdrawals at Online Casinos
In an ideal world, the withdrawal process should take nothing more than following the four steps below:
- Login to your casino account
- Go to the cashier at your chosen online casino
- Choose a payment method and decide on a withdrawal amount
- Submit the withdrawal request and wait
Short, sweet, and easy - and as long as you've verified your account and understood the withdrawal process at the casino, all future withdrawals should be as easy as that.
Let's look at the main steps in that process in more detail.
Choosing a Payment Method for Your Online Casino Withdrawals
You should already have a preferred withdrawal method or two set up that you prefer to use when depositing or withdrawing from online casinos - in fact, the payment methods supported at your casino should have been one of the considerations before you decided to sign up. There is nothing worse than winning big at an online casino and then finding out you cannot withdraw due to the casino not supporting the withdrawal methods you can access.
Most online casinos support a range of payment methods such as credit/debit cards, popular e-wallets such as PayPal, Skrill, Neteller, MuchBetter, MiFinity, and Payz, bank transfers, or prepaid cards. Some will even let you deposit and withdraw using cryptocurrencies. Just pick one that is convenient for you. You may prefer to use the fastest payment methods that allow for instant withdrawals, or you'd prefer the money go straight to your bank account.
You'll find the payment solutions supported in the 'Cashier' section of your online casino account, so once signed up to a new gambling platform, go in and check what is supported as soon as possible. It is better to know what you can use as early as possible and not just the first time you want to withdraw money. If your preferred payment method is not supported, you know early and can consider signing up for a casino account elsewhere.
Verifying Your Identity at Online Casinos
Most online casinos must adhere to gambling regulations set out by regulatory bodies such as the UK Gambling Commission, Malta Gaming Authority, Government of Curacao, or the Alcohol and Gaming Commission of Ontario (AGCO). Usually, for player protection and anti-money laundering purposes, online casinos, as a security measure, are required to verify a player's identity before they are allowed to make a casino withdrawal.
Usually, while it is often a straightforward process of sending some documents, it can take a few days for the verification process to be completed. We advise players to finish this when signing up for an online casino as soon as possible. At least you know it is done, and you will not face issues when you want to withdraw funds. Imagine hitting a big win and finding out you cannot withdraw your online casino winnings until you complete a verification process that can take days or even a week or two.
The verification process will involve sending identification such as a passport or driver's license and proof of your address via a utility bill or bank statement. Once sent in, the only thing you can do is wait until the online casino has successfully verified your identity. When it is completed, you can now put in a withdrawal request to one of the supported payment options.
Understanding the Withdrawal Terms & Conditions
While it is boring, and you're probably eager to start playing casino games, reading the terms and conditions set out by an online casino can save you a lot of time and hassle down the line - especially when it comes to withdrawing funds. If you break any terms and conditions, you're giving an online casino a ready-made excuse not to process your withdrawal request. We have listed some of the most common conditions you need to be aware of before making a casino withdrawal, but you should still read through the full list at your preferred online casinos.
Limits for Deposits and Withdrawals
Most casinos will have minimum and maximum deposit and withdrawal limits you must adhere to. You'll not have to worry too much about how much you can deposit as usually, the casino will require a minimum of between €10 (or currency equivalent) and €20 and will not have maximum limits. Where you may face issues is when it comes to withdrawal limits, whether daily, weekly, or monthly. You should check what these are, as they may have an impact on how regularly you transfer money from your online casino account to the payment method of your choosing.
Processing Times
Another part of the payment terms and conditions you should check is the processing times of withdrawal requests. Ideally, the quicker a casino is able to process payments, the better. Some will do this within a single banking day, while other online casinos may have a processing time of up to three or more banking days.
Withdrawal Methods T&Cs
You may also come across terms and conditions related to the withdrawal options at an online casino. For instance, many online casinos require you to use the same method for withdrawals that you've previously used for deposits. If your preferred payment method does not allow for withdrawals and you've not used another, the casino will usually wire transfer your payment.
Withdrawal Fees
You should also check to see if the online casino you're playing at charges any fees when you withdraw. We're not a fan of online casinos that do this, as many do not charge any fees at all.
Currencies Supported at the Online Casino
While you can use another currency and pay small conversion fees when making deposits and withdrawals at an online casino, finding a casino site that supports the currency you use is always better. You'll see this information in the casino terms and conditions or when you try to make a deposit. Some online casinos will also support cryptocurrency deposits and withdrawals - something to consider if you want an instant withdrawal each time you put in a withdrawal request.
Deposit Wagering Requirements
Although this is something we never like to see at an online gambling site, some will require you to wager your deposits several times before you can withdraw them. Some online casinos will require you to wager your deposits at least once, while others may have conditions such as 3x deposit wagering.
Bonus Cash Wagering Requirements
If you like to take advantage of casino bonuses and promotions, you should also understand the wagering requirements of any bonus cash you receive. In most cases, you cannot just claim a bonus and then withdraw winnings straight away. Instead, bonus cash usually comes with wagering requirements you'll have to adhere to. You'll have to play through those funds a number of times within a period of time before they're transferred to your real money online casino account and become withdrawable.
What to Do if an Online Casino Refuses to Process Your Withdrawal Request?
There could be a number of reasons why an online casino is refusing to process your withdrawal request. The worst is if you're playing at an untrustworthy platform that is not licensed or regulated - something you should avoid at all costs. In most cases, there is a clear and obvious reason why you're withdrawal is not being processed, but if there's not or you feel the casino is cheating you, you can make a complaint to the regulator that has licensed the casino. In most cases, they will look into your case and force the casino to process your request or penalize the casino.
- The casino is not licensed: You always run the risk of not receiving your winnings if you play at unlicensed online casinos. These are not regulated, so they can essentially do what they want. If you've won a big amount and they decide not to pay you, there is not a lot you can do. Always play at licensed casinos with a strong reputation.
- You have not met certain withdrawal conditions: If you're trying to make a withdrawal request and it is unsuccessful, it could be because you have not met certain requirements. Perhaps you have exceeded a withdrawal limit, not wagered your deposit enough, or the funds you're trying to withdraw are unwagered bonus funds. Speak to the customer support team to find out what requirements you're yet to meet.
- You've broken some terms and conditions: Another reason is your account might be suspended or closed as you've broken some T&Cs. Perhaps you're using multiple accounts, found to be cheating, or are using a VPN from a restricted country. Again, speak to customer support to find out the reason.
- You're not verified: One of the most common reasons players struggle to receive payouts is that they're not yet verified on the platform. Casinos have to follow KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols, and that often means verifying their player's identities and addresses. You can usually get your money once you have sent in the required documents needed for verification.
If you're not sure why you're not allowed to withdraw from your casino balance, speak to customer service. If they do not help, the next step is to make a complaint with the licensing body that regulates the casino.
The Payment Method Options at Online Casinos
In the old days, you could use a credit or debit card to deposit or withdraw from an online casino, but today, there are many other types of payment methods you can consider. You can make money transfers using credit and debit cards, your PayPal account or other eWallets, prepaid cards, bank transfers, or cryptocurrencies.
- Bank Cards: Many online casinos support deposits/withdrawals via Visa/Mastercard Credit/Debit Cards. Some will also accept other types of credit and debit cards, such as Maestro, JCB and Amex.
- eWallets: Probably the most popular and convenient methods when depositing money or withdrawing winnings are the many popular e-wallets supported at your online casino. Top options include PayPal, Skrill, Neteller, MuchBetter, and MiFinity.
- Bank Transfers: Although a dated payment method, bank transfers are still a widely used method in the online gambling industry. Just note that bank transfer withdrawals take longer than any other method and will sometimes incur fees at online casinos. A wire transfer
- Prepaid Cards/Vouchers: Another type of payment method to consider is voucher payment services such as Paysafecard, ecoPayz, or Neosurf. These are not as widely accepted as other payment options but are fairly convenient. Often, these are only accepted as deposit methods, so you will have to use another withdrawal option if you want to move funds from your casino balance to your bank account.
- Online Payment Systems: Apple Pay and Google Pay are two examples of online payment portals you can use when you're considering depositing or withdrawing money from an online gambling site. Interac is another, although it is only an option for players in Canada.
- Cryptocurrencies: If you'd rather not use fiat currencies or hand over your banking details to online casinos, you can consider using cryptocurrencies if you like playing casino games. Many online casinos now accept cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Tether, Dogecoin, and Ripple as a way for depositing and withdrawing money.
Top Available Payment Methods in Canada
As online gambling is not regulated in Canada (apart from in Ontario), the payment methods available to Canadians are limited compared to other countries. Many banks will not accept direct online casino transactions, and some eWallets also prefer to provide casino payment services to players in countries where online gambling is legal. Still, there are some good options, such as Interac, iDebit, and Instadebit, which are Canadian-only payment options. Neosurf is another option, and players can also consider using cryptocurrencies.
UK Casino Payment Methods and Regulations
The UK has some of the most strict online gambling restrictions, although it is legal. It is highly regulated by the UK Gambling Commission, which has a strong focus on player protection and responsible gambling. One regulation prevents players from using credit cards as a casino payment method as it is believed these can facilitate gambling addiction. Players can make debit card withdrawals and deposits, however. Another payment method usually supported at UK casinos is PayPal, a handy eWallet that you can connect to your banking account or debit card. PayPal withdrawals are more expensive than other eWallets, so do keep that in mind.
Payment Methods Online Casinos Offer for Players in New Zealand and the Rest of the World
As for players in New Zealand or most other countries where online gambling is legal, you also have a wide range of payment methods you can use. You can go with a traditional bank transfer as a withdrawal method that transfers funds directly between bank accounts, opt for debit card withdrawals and deposits, or go with quicker options such as eWallets, cryptocurrencies or Apple Pay.
Top Tips for Easy Withdrawals
Now that you're fully up to speed about the different payment methods you can use to deposit cash to play casino games and to withdraw any winnings, you're well prepared the next time you create a casino account.
To round off this guide on casino payment methods, take a look at some key tips if you want fast, painless, and secure deposits and withdrawals:
- Always check to see whether your preferred payment method is supported at an online casino before signing up. This will save you a lot of time and hassle.
- Read the terms and conditions at an online casino to determine if there are any related to deposits and withdrawals. Check the minimum and maximum limits, whether you can use your Skrill or Neteller account for casino bonuses, and whether there are any deposit wagering requirements you have to complete before you can withdraw.
- Make sure you're verified at an online casino before you make a deposit. If you can't get verified, you may not be able to make withdrawals until you are. So, it's better to find out before you fund your account.
- Go for a faster withdrawal method, such as eWallets or cryptocurrencies. The faster you can withdraw, the quicker you can get your hands on your winnings.
