With the internet opening up the world to everyone and making so many things readily available, it is no surprise that online casinos have become a popular form of online entertainment. It is no longer necessary to make plans and lodging arrangements to visit your favorite casino. You can kick back in your own home and enjoy your favorite games.
When it comes to online casinos, the payouts work a little bit differently. There are three elements you need to know and consider in regards to payouts before you choose a casino to play at.
Most online casinos will have several different withdraw options for when you want your winnings. Some of the most commonly used online payment processing services used by online casinos are NETeller, wallet, Click2Pay, and Moneybookers. Some casinos will also have options available so that you can have your winnings mailed to you in a check, or transferred directly to your bank account via an e-check.
You will want to check out what withdrawal options are available before depositing money. Do not get into a situation where you have no means of getting your payout. For example, you might already have a PayPal account, but if the online casino does not accept PayPal, your winnings cannot be transferred there. Check your withdrawal options ahead of time and set up a withdrawal method to prevent running into stress and frustration later.
Time Frame on Receiving Payouts
It is not unusual for different types of online casino payouts to have different receiving times. Unfortunately, since there is no direct person-to-person contact like at an online casino cashier, most payouts are not instantaneous. Some might be, but it will vary from casino to casino. The quickest payouts tend to be with transfers to credit cards, such as your debit card if it carries the logo of a major credit card company such as Visa or Mastercard. Other options, such as receiving a check in the mail, can take up to ten days.
Sometimes the amount of time to receive your winnings is held up for security reasons. To guard your financial data and themselves, some online casinos will hold your winnings until they can verify and approve the request for withdrawal. Unfortunately, there are people in the world who will try to hack into player accounts, request withdrawals and steal your winnings. To avoid this, casinos will request a fax back. That is a form that they send to you that you must fill out and fax back to them so that they can verify that you are the account holder and that you are requesting a withdrawal.
One more thing that you need to be aware of in regards to online casino payouts it transfer charges. Wire transfers will usually have a charge for the service, and most likely the casino will pass it on to you since it is your money. Some online payment processing services will charge a percentage or a flat rate for their services. If your credit card has to convert your winnings from one currency to another, there might be a charge for converting.
Some of these charges may come from the casino. To find out, you can contact their customer support, team. If you are using a credit card, you will have to contact their customer service department for questions about any charges or fees, and the same applies to any of the online payment processing services.
Gambling can be addictive. Play responsibly. We support responsible gambling. Please be aware that online gambling is prohibited and restricted in certain locations. Be sure to check with each casino what terms & conditions may apply.