The exchange of funds for chips and back in online casinos for Indian players is somewhat different from the same operations in land-based gambling halls. Gambling sites on the Internet use their own tools for accepting deposits and sending winnings, but it is not difficult for clients to understand and use them.
Withdrawing money from the casino
All payment methods have been familiar for a long time, and when it comes to cryptocurrencies, then this area is increasingly popularized. For those who just started paying attention to online gambling and did not have time to fully figure out how to withdraw money from the casino, we will reveal the main points related to the procedure for cashing out winnings, and also touch on the features of cryptocurrency transactions.
Purchase casino chips and credits
In an offline casino, a player, before going to the hall, immediately comes to the cashier, where he or she exchanges money for the appropriate number of chips. When he leaves the gambling house with a win, then before leaving, he again goes to the cashier and exchanges chips for cash. That is, he doesn’t have to wait. He immediately receives money, equal to the chips that he returned to the casino.
However, the procedure of getting chips or your winnings in an online casino is different. For example, in order to just play a slot, you are allowed to use the demo mode and spin the reels for “candy wrappers”. This option will not allow you to win real money. Nevertheless, gambling sites provide an opportunity in this way to entertain those clients who do not want to risk real finances, or who simply do not have them.
In order to gamble in online casino, you first need to create an account on the site.
If some resource on the Internet promises valuable prizes, but at the same time claims that you do not need to create your own account, then keep in mind that they want to cheat you, since there is no such thing as a casino without registration (actually, there are some new ones that offer this at the moment, and they are valid and honest).
As for playing in a classic online casino with withdrawal of money, the amount is also deposited through the Cashier or Banking section of the casino website. To make a deposit, an acceptable method is selected from those available on the site. The fact that the deposit operation was successful will be indicated by the appearance of gambling funds on the registered account.
Money is converted into credits, the denomination of which is determined by the gambler in the settings of each game. So 1 credit can be $1, € 0.01, etc.
Let’s say that the player is lucky – he won and judiciously decides to stop the game. Then he again goes to the Banking section, but now he creates a request for withdrawal of funds. We will describe this stage in more detail, since it is the main topic of the article.
Withdrawing money from online casinos
If this material had been prepared a couple of years ago, then attention would have been drawn to the fact that it would not be possible to spend the prize money on the day of winning. The average period for withdrawing funds from a casino for a long time was three days.
But now it should be noted right away – there are casinos with instant withdrawal of money and there are more and more of them.
Thus, gambling sites increase their competitiveness and improve their performance. Many gamblers prefer such casino sites that they do not delay payments and quickly process the application.
True, if the amount of the win is greater than a certain value set as a safety value, then there is no way to avoid verification and some delay in withdrawal. But rated casinos, even with significant prize money issued for payment, will not delay longer than the terms prescribed in the terms.
No matter how long the transfer of winnings takes, whether it is a quick withdrawal from the casino in a couple of minutes or requiring a wait of several days, the stages of the procedure do not differ:
- A request is created;
- Waiting period (from instantly to several days);
- Receipt of funds to the specified details, according to the selected method.
It’s actually very simple. At first, it is only such moments as account verification and the choice of the method of depositing and withdrawing winnings that may cause additional questions and some caution.
Account verification
Personal identification is an integral part of financial interactions with any online gambling site. The laws require that persons under the age of 18 do not participate in gambling entertainment. In addition, criminal organizations continue to operate, forcing money-related resources to conduct additional checks as part of the fight against money laundering. For this, the KYC procedure is performed – know your client.
To verify the identity and account in the casino, you will need to provide the institution:
- a file of a scanned or photographed passport page where your photo and name are visible, as well as the one with the registration address;
- a receipt for payment of utilities or another form of certificate, with the indicated actual address of residence;
- screenshot of the e-wallet page from which the account was replenished;
- photo of a credit card on both sides (CVV2 is allowed to be hidden), when paying with a bank card.
Typically, documents are sent once. Verification can take up to several days. It all depends on the casino. To avoid delays due to verification, some players perform it even before they decide to cash out casino credits and then receive the winnings faster.
Some gambling sites with an average or low rating, not striving to become the leader, use this check and deliberately delay it until the maximum time. This is the expectation that the client will not wait for the payment and will lose the money on the account. With the same intent, sometimes winnings are not quickly paid to identified customers. But performing such actions, the institution runs the risk of losing its visitors, since it is no longer difficult to find a casino for a game with a real withdrawal of money within a few minutes.
Payment systems for withdrawing winnings
Since the mid-1990s – since the first gambling site began operating – the search has been continuously occurring for the most comfortable options for the user to transfer money to his account and further withdraw winnings. In 1996, the first electronic wallet began to work and this has already made the task easier. Then, in countries where gambling is allowed by law, banks joined in supporting financial transactions between the player and the online casino. At the same time, new electronic settlement systems were launched, and in the 2010s more and more people learned about cryptocurrencies. And now, finding the most convenient way to withdraw money from a gambling resource will not be a problem. Several methods have evolved over a quarter of a century.
Withdrawing money from the casino to electronic wallets
Electronic wallets are the first settlement intermediaries between a digital gambling house and its client. Transferring funds to start playing at the casino takes several minutes, and sometimes even seconds. The withdrawal of winnings through electronic payment systems is now the most popular and, first of all, you should pay attention to it. At the checkout, in the “Withdrawal” section, a list of those wallets with which the institution cooperates will be available. You may already be using one of them. If not, then you need to study the main characteristics of each, find the most convenient one and create, according to the rules of the financial company, your account.
Among the most famous e-wallets are: Neteller, Skrill, PayPal, Payoneer, EcoPayz and others. Meanwhile, don’t forget that the speed of withdrawal also matters. For this, check out the best payout casinos in India.
Many electronic payment systems issue cards that allow cashless payments in stores or withdraw funds from ATMs. This function adds even more comfort, since when you receive money from a gambling site, you can immediately spend it on something useful.
The second most popular way to withdraw money from a casino is to a bank card, that is
With the help of a banking institution
You can cash out money won in an online casino through a bank directly by bank transfer or by transferring funds to a bank card.
Bank transfer is very rarely used as it takes the longest to receive money. And not only during withdrawal, but also when replenishing a gambling account. Therefore, with many other options to choose from, we will not recommend it either.
A bank card is one of the most convenient ways to get a win. The account must be linked to a card such as Visa or MasterCard, since they support international payments and have a number of characteristics that make it easier for the casino to settle settlements with its visitors.
When creating an application, keep in mind that by the time it is processed by the financial department of the casino, the period for receiving funds will additionally depend on the speed with which the bank transfers money.
Cryptocurrencies
The number of casinos accepting cryptocurrency is growing now. Most of them are well-known brands in the gambling sector for a long time, which has thus increased the ways to deposit and withdraw prize money. But there is also gambling – platforms that master blockchain technologies and base their functionality on new principles. From such decentralized casinos, advertising statements come in that there is no need to verify their data on their platform, and information about transactions is kept anonymous due to the fact that it is performed by cryptocurrency. It is not always so. Read more about such casinos here: Crypto casinos and Bitcoin casinos.
Withdrawing winnings in crypto
When using cryptocurrency, you should also take into account the legal regulations of the country where you live. In some states, the authorities are very loyal to a fairly new type of value, but a number of regions are taking tough measures. As if the fine for using cryptocurrencies does not become significantly higher than the winnings.
What else should you pay attention to when withdrawing money from an online casino
Before finalizing the application for withdrawing money from the casino, it is not superfluous to check: have any changes been made to the functionality of the service that you use for financial transactions. Sanctions between states, changes in tax law, changes in management and internal adjustments in the company’s work are just some of the factors that can affect the principles that the payment system has adhered to before.
Probably, the introduced innovations will not be entirely acceptable to you or will create difficulties with cash out the prize. Then you can choose another method. And if there are any doubts, then the support of the gambling club can help to make a final decision on how best to withdraw the winnings. If the institution values its reputation, then it hires qualified personnel who do their best to please the visitor, including with supporting recommendations.
Do not forget that each payment method may come with a certain commission percentage. Therefore, do not be surprised if the amount is slightly less than ordered for withdrawal. Although, some reputable gambling sites take these costs upon themselves in order to improve their rankings.
Another important moment, especially relevant for new casino visitors. As a rule, you will be able to receive your winnings on verified details, that is, by the payment method that was used to replenish your account. If something remains unclear to you on this point, then MUST contact the support service to avoid misunderstandings.
Withdrawal limits
Each online casino, depending on the available reserves, sets limits on outgoing financial transactions. This is especially true for large wins. Thus, the institution tries to create conditions for the maximum fulfillment of its obligations.
Withdrawal of winnings received when playing for bonuses
Withdrawing money from bonuses is somewhat different from the standard procedure. The fact is that when receiving bonus credits, by activating the casino promo code or otherwise, the player agrees to additional conditions. And aside from wagering requirements, withdrawal casino bonuses are often limited. Therefore, when using no deposits or other types of promotional offers, read carefully if they are accompanied by a set maximum for withdrawal. Sometimes the restrictions are so significant and unprofitable that players do not want to waste their time on wagering.
If there is no desire to take on the obligations established by the gambling site when playing with bonuses, then it is better to refuse them immediately. Then all funds won will be available for withdrawal.
If the casino does not withdraw money
When you understand that the site has exceeded the withdrawal deadline set by it, delays the verification procedure or does not transfer the money won for unreasonable or absurd reasons, then it probably makes sense to make a claim and write a complaint about the casino.
If the payment is really delayed due to the fault of the casino, then do not be lazy to take screenshots, where you can see the completed deposits, winnings, correspondence with the support. Nobody will take your word for it without at least some proof. Therefore, in the event of such a misunderstanding, it would be wise to prepare in advance, before entering into a dispute with a representative of a gambling site. At the same time, such an approach will significantly speed up the business and receive a prize that was delayed for no reason.
A complaint to the regulatory body that issued the casino license is a good help. Unfortunately, not all licensors fully fulfill their duties, but the most reputable ones are able to fine a large sum and even revoke a license.