Published on by Ben
The online gambling industry experienced considerable growth during 2020, with some key players reporting record revenue and profit. Among the established ...
Published on by Adam
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When it comes to withdrawals, this classy casino asks “has a panda ever kept you waiting?” and the truth is that no, they haven’t. Not a real panda, and certainly not Royal Panda when it comes to processing my winnings as withdrawals. Some people play casino just for the fun of it, they enjoy the game for what it is, a game, but most of us play with the hope of winning and when we win, we want our money. Reasonable enough I think, but so many casinos get all bent out of shape if a player dares win that they’ll whack on hefty charges to get your money out, or will delay the withdrawal, waiting days and days before hitting ‘approve’.
In general, all casinos have to verify a players account before they process their first withdrawal. This is a requirement from the licensing bodies and doing it at withdrawal, rather than before you deposit is actually to make life easier for you. I so often hear the complaint “Well they let me deposit fast enough, but now I want my money they need to verify” but that’s a pointless argument. The casinos have to verify at some point and it’s actually pretty hard to get players to send over the required documents. If they put this in place before you could deposit or even open the account, then no one would ever bother. Doing it before withdrawals means you’re able to have your fun and place your bets but makes it pretty certain you will provide the documents.
And there is no point complaining about having to send these documents as it’s a step in place to protect you. If a fraudster knows they can’t get any winnings until they send in personal documents that they don’t have, then they’re much less likely to steal your identity and use it for gambling. In the same way it deters underage people from trying it out and helps to prevent money laundering, where money is ‘cleaned’ through the casino before going on to fund awful things.
All withdrawals have to be manually approved by the casino. When you click ‘withdraw’ and enter the amount, the payments team has to have a quick look and make sure the funds are going back the same way they were deposited, ensure the account balance covers the withdrawal and that the account has been verified already. Some casinos make this process take days and will leave your withdrawal pending in the hope you’ll give up and cancel it. But Royal Panda casino knows that happy players are returning players and players are never more happy than when they get their winnings, fast. For this reason they aim to approve withdrawals as quickly as possible, usually within 4 hours.
This means, if you’re using an instant withdrawal method such as Skrill, Trustly or PayPal, you get your money within minutes of them clicking “Approve”. Other methods such as bank transfers and cards can take longer, simply because the method themselves (so Visa, or your bank) take that time to process it.
Have you ever wondered how payment methods make their money? They charge the casinos for every deposit and withdrawal that is processed by a player. Each time you deposit and withdraw, the casino is being charged a percentage of that amount, or a fixed fee. Most casinos then pass this fee onto the player and some even increase the fee so they’re making money on your every transaction. Not at Royal Panda, here, withdrawals are free so you get 100% of your winnings (unless the payment method you use charges you).