Playing real money casino games means you’ll score cash wins. When this happens, you’ll want to make quick withdrawals from the casino to your bank account. But while depositing is often easy, some players can have a hard time withdrawing.
But with the new age of instant withdrawal casinos, you won’t have to worry much. The methods are fast and straightforward, and here’s all you need to know.
Most Popular Casino Payment Methods
1. Credit & Debit Cards
Withdrawals using a credit or debit card take 3-5 working days to reflect in your account. You’ll need your card number, the CVV code and expiration date, billing address, and name. Once all your details are confirmed, your transaction will be processed.
2. E-Wallets
Opening an e-wallet account is easy and safe, and it’s all online. The payment processes take 24-48 hours to show in your account. The most popular options include Trustly, Skrill, Neteller, and Zimpler, highly trusted and secure.
Crypto Casinos Are On The Rise
Crypto is hands down the fastest casino withdrawal method, with speeds of just a few minutes. Plus, not being tied to any banking institution allows for anonymity, transparency, and an overall faster transaction speed.
Before you can deposit in your casino account, you’ll need to acquire some of the currency, and here’s how you set up your wallet;
- Choose a wallet that you trust. Your primary considerations should be safety, simplicity, and valid licensing.
- Create your account by entering your personal information and a secure password. You can also use a 2-step verification process for an extra layer of security.
- Buy the crypto coins. Most exchanges will accept bank transfer or card payments for this stage.
- Complete transfer. If you already own the currencies, you can transfer them to your newly acquired wallet for safekeeping.
Best Crypto To Use In Casino Withdrawals
1. Bitcoin (BTC)
Not only is Bitcoin the largest crypto both by market cap and coin value, but it’s also the crypto that started it all way back in 2009. You can expect it in any casino with crypto payments, and it’ll only take you about 10 minutes to process your payment.
2. Ethereum (ETH)
Ethereum is another popular coin to use because it’s not just a cryptocurrency. It’s also a blockchain-based computing platform with the features of an operating system. So apart from high processing speeds of up to 15 seconds, you can also rest assured that it will record your transactions in a secure ledger.
Credit Card Payments Pros & Cons
Pros Of Using Credit Cards
- Security & Privacy- Both credit card companies and online casinos use SSL encryption, meaning no one apart from the two parties can access your details.
- Widely Accepted- Just about all casinos that accept traditional methods allow credit cards. That makes them very convenient for players globally.
- Eliminates Risk Of Overspending- Most players like to use credit cards to budget their gaming expenditure. You can’t spend more than is credited on your card.
Cons Of Using Credit Cards
- High Fees- Online casinos might not subject your withdrawal to any fees, but the banking institution will. These can range between 4.5% to 6% of the total amount.
- Withdrawals Times- Credit card withdrawals can take 2 to 5 days to complete. So if you’re in a rush to spend your winnings, go for an e-wallet or crypto payments.
Thinking of Bank Transfer?
Although this method is somehow notorious for its long withdrawal periods, usually between 5 and 8 days, it’s still among the most popular options. That’s because it offers highly secure transactions from your casino account directly to your bank.
Bear in mind, however, that a small fee might apply. So it’s best to use this method when you don’t have a credit card or e-wallet.
What Restrictions Are There For Casino Withdrawals?
1. Wagering Requirements
It refers to the number of times you need to play through a bonus before the casino allows you to withdraw your wins. If a casino has a 40x wagering requirement on a $50 bonus, for instance, you’ll need to wager 40 x 50, so $2,000 to withdraw the amount.
2. Amount Limits
Most casinos will allow players to withdraw a maximum of around $2,000 over specific time frames. These can extend to a day, a week, or even a month.
Claiming Jackpot Winnings
You’ve just had your lucky break, and you’re ready to cash out the big bucks. Now all you have to do is provide proof of identity and address, right? Well, not exactly. Withdrawing jackpot winnings is a bit different, and here is the gist of it;
- The largest casinos may allow withdrawals of up to $100,000 per month, while smaller ones limit the maximum to $2,000 or $3,000 per week.
- All winnings are subject to taxation at the state level. Each state sets its regulations for online gaming taxes, so make sure you check the requirements before filing your next tax return.
Conclusion
After playing and collecting your wins, you can quickly cash out using credit cards, e-wallets, or even direct bank transfers. And thanks to the growing crypto industry, players can withdraw with Bitcoin or their favorite altcoins as well.
Author Bio
Hi! I’m Bryan, and I’m a passionate & expert writer with more than five years of experience. I have written about various topics such as product descriptions, travel, cryptocurrencies, and online gaming in my writing journey. The latter is one of my favorites topics, and you can find some of my premium casino content at OUSC.
