“Withdrawal” – What does it mean?

Published on 13th August 2019 by Therese

When speaking generally, the word withdrawal needs no explanation as to its meaning. The same could be said when talking about bank withdrawals, but the story changes when it comes to casino withdrawals.

Comparing bank withdrawals to ones from casinos is not a mistake entirely, but sometimes the situation might be a little more complicated.

Many casinos have limitations that can come in different forms and can change from casino to casino. Therefore it is always a good idea to check and read through the terms and conditions of any casino you wish to play in.

In this article

You’ll find a breakdown of:

• The differences between withdrawals at land-based casinos and online casinos.
• An explanation of the different kinds of limitations a particular casino may have.
• Quick tips to make withdrawals easier!

Withdrawals at Land-Based vs Online Casinos

Of course, the biggest change between these two casino types is that in the case of a land-based casino, you will have to carry the money physically. With online casinos, this is not the case as the money is deposited into an account of your choosing.

While this is very convenient, it is important to keep in mind the often casinos impose a 48-hour or more waiting time, until the funds are transferred. Remember also that some other casinos might try to convince you to not withdraw your funds and play on in the meantime; of course, if you wish to do this, then do so, but if not, simply decline any offers made.

Withdrawal Limitations

Amount Limits

As you might imagine, casinos would not want their players making requests to withdraw every tiny winning they might earn, and they would also not like them shifting around huge sums of money either. In response to this, most if not all casinos will impose minimum and maximum withdrawal limits, which control how you can withdraw your money, quite strictly at times.

These limits are simply numerical figures which let you know how much or how little money you can withdraw at any one go and are usually fairly reasonable.

Time Limits

Time limits are when casinos only allow a certain amount of withdrawals within a given time, for example, a week. While very annoying, this limitation can be worked around with a little bit of patience and is only in place to protect the casinos from massive shifts in money.

Fees

Some casinos will also impose fees on their customers when they are trying to withdraw money. While these can be annoying, they are not altogether too common.

Reasonable withdrawal fees are 2-3 credits for cashing out to a credit/debit card and 30-50 credits for a cash-out by cheque.

Quick Tips

Account Verification

Almost all casinos will ask you to verify yourself once you try to withdraw any funds, this is both for legal and security reasons. It might be helpful for you to complete this process from beforehand so that you avoid the hassle of it later on.

UK-Licensed Casinos Credit Card Ban

UK-licensed casinos have been banned by the UKGC from accepting any credit card payments, via bank, e-wallet or otherwise.

E-Wallets

Using E-Wallets such as Skrill or Paypal will usually speed up the process of getting your withdrawal. It is important to keep in mind though, to specifically search for casinos that support your E-Wallet brand.

We hope that with this information in mind, our readers will make smarter choices while playing and feel safer with the knowledge they’ve gained.

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