It can be irritating signing up for a great online casino with awesome welcome bonuses and a great selection of games only to be met with hurdles to jump through when trying to withdraw some cash. Withdrawal times are widely considered one of the most important factors of any reputable online casino, and it’s easy to see why.
To make things a little clearer, here are the main factors that affect online casino withdrawal times:
Withdrawal time speeds
It’s simple, people want to have their cash arrive in a timely manner. When you hit it big, you want to ride that euphoria and receive your cash as fast as possible, just like what would happen when using a slot machine or playing at a poker table in a land-based casino.
The problem is that not all casinos have the same withdrawal speeds. This can be misleading as most casinos have instant deposits but will rarely feature instant withdrawals unless a specific payment method makes that available.
An easy way to find online casinos that have fast withdrawal speeds is to look up well-reviewed platforms using resources like Casinomeister, as these highly-rated online casinos tend to have faster-than-average payout times. Using a curated list ensures that you’ll find what you're looking for, meaning your withdrawals will come sooner.
Another very important thing to understand about these payout times is the range. Some casinos will take up to seven business days to send your money, while others will be as quick as one or two days. Luckily, it’s not very difficult nowadays to find online casinos that excel in the latter, so you should not have to wait very long. Online casino gambling is meant to be a fun hobby for tech fans, so picking a place with fast withdrawals will only make the experience more fun.
Withdrawal methods
The factor that has the biggest impact on withdrawal times is the withdrawal method. These days, online casinos fortunately support several different options to choose from, both for deposits and for withdrawals, so picking the right one can make the difference between getting your money tomorrow or next week.
One of the most popular methods you’ll see at online casinos is credit or debit cards, especially the former. The most common examples are Visa, American Express and Mastercard. These normally have withdrawal speeds from about one to three days, though it can vary depending on the casino.
Another popular method is e-wallet services, particularly PayPal. They are normally as fast as major credit cards, and sometimes even faster. They’re a common choice for people dealing with international casinos or foreign currencies.
Cryptocurrencies, though not super popular yet, are heavily desired and have grown in usage over the past years. Currencies such as Bitcoin, Bitcoin Lite, Dogecoin, and Ethereum are the most common ones. Crypto-based withdrawals tend to be the fastest. They’re not technically instant, but many people report getting their money within an hour, and sometimes in just mere minutes.
Withdrawal fees
The worst thing about a potential payment withdrawal method are the fees, especially if they are large or hidden. Many online casinos don’t have fees on their deposits or withdrawals. This means, just like withdrawal speeds, that withdrawal fees are largely dependent on the payment method you use.
Luckily, there are several ways one can avoid any fees, hidden or upfront. It might take some work and reorganization on your part, but it can be well worth it if you want to receive every dollar and cent of your online casino winnings.
Withdrawal pending period
It’s important to note that when you decide to withdraw a specific sum from your online casino account to the destination of your choice, the process doesn’t necessarily begin immediately. There is a pending period that hopefully will only last a couple of hours before the transfer begins.
This pending period varies widely from one casino to another, so there is no exact science on how to predict it. Using reviews and other resources is a good way to see what is being said about a specific platform’s pending period.
Pending periods exist for multiple reasons, primarily to perform any security or background checks and make sure the requested transfer isn’t being conducted under suspicious circumstances. Depending on the casino you use, you may notice your first couple of withdrawals accompanied by longer pending periods, especially if your account is brand-new and was only recently verified.
Withdrawal limits
The final important thing to keep in mind about online casino withdrawals would be the limits. Virtually all online casinos have withdrawal limits, and they have two important aspects: timeframe and monetary caps.
The timeframe refers to how much you can take out in a given time period. Many online casinos use daily and weekly frames, though some use monthly. The monetary cap is the maximum amount of money you are allowed to withdraw, either at once or over a longer period.
For example, one online casino may have a daily withdrawal limit of $5,000, a weekly withdrawal limit of $10,000 and a monthly limit of $25,000. You may not exceed the withdrawal cap within the designated time period, not even by a single cent.
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