While most newbies believe that game selection is the essential criteria that one should consider when picking a gaming home, veteran online gamblers know that transfer speeds are of greater importance. Money removal procedures can far more substantially affect the internet gaming experience, riddling it with many headache-inducing issues.
Though the withdrawal process, on the surface, may seem like a simple one, it features many intricacies that can massively complicate how fast a player can remove funds from his/her balance. Things are not as straightforward as sticking to a list of quick withdrawal casinos with a decent reputation. To facilitate a swift union with their winnings, players must also grasp crucial concepts unfamiliar to most casuals so that they can avoid common pitfalls. We break these down in the subheadings that follow.
Pay Attention to Closed-Loop Policies
A closed-loop policy means that an online casino will force its players to make withdrawals through the same method as the one used for depositing. So, anyone that has chosen to utilize MasterCard as their preferred deposit option will have no choice but to use it for a withdrawal. Such a measure exists to protect against fraud and money laundering. However, some players may find it super-restrictive. Its implementation will get mentioned in a platform’s general terms and conditions. If you follow the link you will see the closed-loop example.
Perform KYC Instantly After Sign-Up
KYC or Know Your Customer procedures are another anti-money laundering measure. It is a significant aspect of the war against financial crime, and it entails that all customers provide documentation that verifies their identity. Since online casinos deal with a sizeable number of money transactions each day, they also must implement this measure to fight off money laundering and the financing of potential terrorist activities. Given that KYC is a pre-requirement for withdrawals, it is wise that everyone completes this procedure as soon as they become a member of their chosen gaming platform.
Fulfill All Bonus Requirements Before Attempting a Withdrawal
Every promotion offered in the online gambling sector has its terms and conditions. No operator allows players to take out bonus winnings from their balance before fulfilling that offer’s predefined requirements. These usually consist of a rollover, which is the number of times that a player must play through the promised bonus funds, a deadline, and something called game contribution. The latter means that not all gambling products that a platform features will contribute equally to fulfilling a promotion’s wagering requirement.
When talking about rollovers, it is worth mentioning that some sites also implement a withdrawal one of x3. That is a general condition, not tied into any promo. Meaning, players have to bet their deposited funds three times over before making a withdrawal. That is mandatory, always. It does not matter that players have not used a bonus.
Avoid Using Bank Transfer and Credit/Debit Cards
In general, e-wallets and cryptocurrencies have the fastest processing times, and they transport funds from a player’s casino balance to their pocket in less than 24-hours. Bank transfer, on the other hand, is usually the slowest withdrawal method. It elongates this process up to seven working days or more. Popular credit/debit card options are faster, but those that choose to use them will likely have to wait up to five working days to get their winnings. Thus, it is wise to avoid these methods, as they involve banks, and some such financial institutions may look down upon gambling transfers, causing further issues down the road.
VIPs Usually Get Treated to Higher Withdrawal Limits
Loyalty schemes are one of the most popular marketing tools out there. Everyone uses them, from bookstores to gyms. Naturally, the online gambling industry is also in on this hot trend, as even experienced players will be hard-pressed to find an online casino that does not have a VIP program of some sort. These are usually point-collection systems, where players ascend through tiers based on their betting activity. The higher up they go, the better the perks they get to enjoy. One of the most common ones is higher weekly/monthly withdrawal limits. Frequent gamblers get the option to remove more sizeable amounts from their casino balance than casual ones. They also may benefit from attaining a personal account manager who can speed up processing times and ensure swifter transfers than usual.
About the Author
Shelly Schiff has been working in the gambling industry since 2009, mainly on the digital side of things, employed by OnlineUnitedStatesCasinos.com. However, over her eleven-year career, Shelly has provided content for many other top interactive gaming websites. She knows all there is to know about slots and has in-depth knowledge of the most popular table games. Her golden retriever Garry occupies most of her leisure time. Though, when she can, she loves reading Jim Thompson-like crime novels.