A Guide To Cashing Out At An Online Casino

February 3, 2013 by Justin C14 Comments

We’ve all seen the movies where the lucky card player or gambler of the night collects his chips from the table, tries to cash them out, and is usually stopped by casino security. For most of us, life isn’t that exciting, but there’s still the thrill of cashing out after a good haul – the clink of the chips, the little symbols of our fortune and fame. If you try your luck online, you’ll miss the more aesthetic elements of cashing out, but there are still a number of ways to enjoy yourself doing so.

Waiting In Line Online

Due to the nature of making money online, there are security procedures and protocols that have to be observed – both for your benefit, and so that the casino can stay in business. Ergo, cashing out may not be as fast as the real world equivalent. There is a pending period, followed by a processing period, after which comes a bank processing period. Your identity will have to be verified by whatever system the casino uses, to ensure that the money has been legitimately won.

The Security Deposit

Online casinos require a security deposit from you before you are allowed to start playing. The deposit must be placed on a credit or a debit card. When you want to cash out, the casinos will only let you “withdraw” an amount that is less than, or equal to, the deposit you placed. Your winnings will be credited to the same card which you used to make the deposit.

eWallets

An easier method of collecting your money is by using an eWallet, where the casino will simply transfer the funds to your online account. From there, you have the luxury of withdrawing the money to your bank account, having a check mailed to you, or, if you use PayPal, a variety of other options.

Tips For Cashing Out Online

A few things to keep in mind about cashing out from online casinos: the better a casino, the more options it will give you for cashing out, whether to a bank card or an eWallet (and the better a casino, the more reputable and established eWallet systems it will allow you to use); as with anything in life, especially anything to do with money, read the terms and conditions of the casino’s cashing out policy, particularly with regards to how often you can cash out, and any kind of commission the casino may claim.

Comments

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