How do you collect winnings from online casinos?
With the rise of online casinos, it is becoming easier and easier to play from your home. You can gamble on just about any game imaginable- slots, poker, roulette- the list goes on! But what happens when you win? It’s important to know how you collect your winnings.
First off, not all casinos are available in all countries. If you’re lucky enough to find one that is available near you, the process is usually very easy – simply contact the casino or use an option on your online casino account and request a payout with some identification. Do not try to play in casinos that are banned in your country using services like VPN because they will not allow you to withdraw your winning on the bank account registered in your country.
How can you receive your money?
Online casinos are quite up-to-date with many FinTech solutions, and you may be surprised how many options you have to get your money. The limitation might be the amount you are allowed to withdraw using every option. Let us talk about some of the options we saw available in casinos.
Transfer to the card connected to the account
Some casinos require from you to connect your card to their account in order to do deposits, but also to transfer your winnings. The process is really simple and in most cases you do not even need to wait for the verification of your card in order to withdraw winnings: once they are in your account, they can be withdrawn.
This is only an option if you entirely trust the casino you are playing in, and you are certain that it will not scam you. Also, this is an option for those who have complete control over their money spent in the casino, since having your card connected with the account can be tempting to play using more money than we decide to use in the first place.
Transfer to a bank account
Almost every casino we saw offers withdrawal options through banks. This option is available for all players unless they play in the casino legal in their country. You simply give them the details to the bank transfer in a request for your winnings withdraw from your online casino account. It is not instantaneous since bank transfers can take 1-3 days depending on the banks and the day the request was uploaded. Depending on your country of residence, this might be the best option to receive money from online gambling. In some countries this is even an instant process as you can ask for money to be transferred instantly or within a few hours from another bank account without leaving too much information about yourself.
In some cases, it will have a fee attached to it, while in other cases the casino will pay for it. It all depends on your agreement with the casino, but if you want to save money, this is usually the best solution.
Western Union, Moneygram or similar services
You can often choose other ways of payment, like Western Union or other similar service providers. These are probably 10x faster than a bank transfer, but they will take a fee from your winnings.
In most cases, the casinos themselves offer this service at a discounted price, while others might even add it to their withdrawal fee. It is important that you always check the terms and conditions of the casino before withdrawing money because some online casinos charge quite a lot more for these transactions than they are asked for when receiving them.
Digital wallet
If your chosen casino is up-to-date with secure and anonymous methods of payment like in Casino LV BET, digital wallet transfer might be an option to receive your winnings from them. You can then easily transfer money from a digital wallet to your main bank account, or you can just leave them there to be used for paying and spending on things.
How long does it take to get your winnings?
This varies from casino to casino and depending on the option you chose for transferring money. In most cases, however, there is no waiting time unless this has been stated in the terms of the offer, or it is done by classic bank transfer.
There are some cases when a manual verification is required so that you can withdraw money because of secure matters that are there to stop thieves from getting a hold of other people’s money.
This might be the case if you choose for transferring money using Western Union or Moneygram, and it could take up to 24 hours or more before your winnings are available to be collected by you.
Conclusion
Collecting your winnings from the casino isn’t hard, but you need to focus on security first and foremost. If a site seems unreliable, it is best to steer clear of it rather than taking the risk. When you have made sure that a casino is safe to play at, you simply require choosing the payout method you prefer from those available and transfer your winnings as soon as possible to not be tempted to spend them for more gambling. Then you can deposit your standard budget for gambling on your online casino account and start having fun all over again.
