Understanding online casino withdrawal limits implies knowing that not everything is clear-cut and that there are certain limitations in online casinos you should be careful about. You know that in order to play in an online casino, you must make a deposit at some point. Although casinos tend to create the No Deposit bonus offers very often, after claiming this bonus you have deposit something if you want to withdraw your winnings. This is due to the wagering requirements. These can be low or high, and that is why you should carefully read the T&C section, more precisely the withdrawal limits and the wagering requirements section BEFORE you decide to sign up.
To Understand the Withdrawal Limits, First You Need to Understand the Wagering Requirements
With the purpose of understanding how withdrawal limits work, you must first become familiar with the wagering requirements. In fact, the withdrawal limits are conditions of wagering requirements. There is a certain number of times and bets you should play before you even get access to the withdrawals. When you’ve met that wagering requirement, you can proceed to the withdrawal limits. Online casino wagering requirements can be very tricky and usually involve spending 10x the bonus or deposit money before requesting a withdrawal. In short, that means that if you have claimed a $20 bonus, you’ll need to deposit at least $200 to be eligible to withdraw your winnings.
Withdrawal Limits and Types of Limits
Before you start depositing, you should know the types of limits you may come across. Basically, there are a few withdrawal limit types. There’s the limit of payment method choice, meaning the casino may ask you to use the same payment methods for making deposits and withdrawals. Then, there is the time limit, meaning you will be indicated a certain number of withdrawals you could make in a specified period of time.
Next, there is the amount limit, meaning the casino may stipulate the amount of money you can withdraw per one transaction. And finally, there is the combination of the last two limit types, where you face the time and amount limit. This is the most used withdrawal limit type by online casinos, which tells you the amount of money you can withdraw in a period of time. For example, the casino may say that the maximum withdrawal amount you can cash out in one day is $10,000.
Withdrawals Are Easier with These Payment Methods
You are now familiar with what online casino withdrawal limits are, and the next thing you should do is choose the payment methods. The most popular payment methods used in online casinos are e-wallets and credit or debit cards. Why? Because these are the most trustworthy and safe, and most importantly, the fastest payment methods for withdrawals. The withdrawal processing time may take ages with other payment methods. As time is money and you need to have the freedom to cash out your winnings whenever you want, you will need a fast and secure method.
E-wallets have the quickest rate of processing the withdrawals and are generally accepted in all respectable casinos. The most used e-wallets are Skrill and Neteller, as well as ecoPays. Credit and debit cards are the most widely used payment methods, not only in casinos but everywhere else. These are not as fast as e-wallets when it comes to withdrawals, though. Nevertheless, they are faster than say, bank transfers.