Back in the day when the online casinos just started coming up, you could deposit money only if you had a credit card, as it was considered to be one of the most secure and swift ways for a casino to receive your funds. Depending on casino payment availability, you will be able to use your most preferred method to deposit money, and later on withdraw your winnings. Casino payment availability is a variable in different establishments, so before you would take any steps to playing online, you should definitely acquaint yourself with the House’s payment policies. With newly emerging financial platforms online, society has found a need for many other ways to manage their money and this is how today we find ourselves surrounded by a number online casino payment options, some of which include:
- Credit Cards
- Debit Cards
- Web Wallets
- Virtual Visa Cards
- Bank Transfers
- Physical Checks
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Wagering Requirements Are Connected to All Casino Payment Methods
In casinos such as 888casino, sloto-cash, bet365, mansion, miami-club, uptown -aces and all others, wagering requirements are there to make sure that players would not abuse any bonus system, but will also give a chance to the casino itself to win your money. If you don’t complete a casino’s wagering requirements your account will not be eligible for fund withdrawal. Below, we have explained briefly the synergy between wager rollovers and the payment of winnings.
Wagering Requirement in a Nutshell
You deposit $10, and a casino’s wagering requirements are “x10” which means that you need to spend $100 on casino grounds in order to be capable of claiming (if) any bonuses or collecting your payout. Bear in mind, that depending on a casino’s policy, you will have wagering requirements that might affect your deposit and bonus separately or as a whole. No matter what type of bonus it might be, it will always have a wagering requirement. So before you start researching casino payment methods, make sure that you know how a casino’s wager system works – it will save you a lot of trouble.
The Requirements Rate is Based on Deposit Type
Again, the rate of this variable depends completely on a casino’s policies. For example, if you would make a deposit using PayPal, the wagering requirements that will affect the amount of money would be x30; however, if you transfer money from your Neteller account, then your requirements would be x40. If you do wish to spend some money in an online casino, find out the values of the wagering requirements for all deposit methods. In some cases, using your credit or debit card will provide you with the most favorable wagering requirements.
Payment of Bonuses
Some players will join a casino just for the bonus, and that is more than alright; however, while in some casinos the promised bonus is released right after signing-up or winning, in other examples the bonus must be “released” after the player has completed the wagering requirements placed on his deposit. Because of the specific nature of this rule, most casinos always have an opt-out option, which gives the player the ability not to benefit from any deposit bonus. This releases the player from any wagering requirements and allows them to operate with their funds more freely.
The Online Casino Payment Methods Process
There are a specific amount of requirements when it comes to collecting your money from an online casino. No matter what type of method you would prefer to use for making a deposit (except for bank transfers) you can be sure that the funds will be transferred almost immediately. When it comes to collecting your winnings, the process is a bit more difficult. We don’t want you to think that it is hard to collect your money, but you must know that the process itself can be complex and time-consuming. The first thing you need to know is how long does it take to process a withdrawal request.
Some gambling establishments state that all withdrawal requests are processed in a period of 2-3 business days. Those players with a VIP status have their withdrawal requests processed in 1 business day, but not all casinos offer such a program. Of course, additional terms can always apply depending on the amount you wish to withdraw, the transfer method, etc. During the pending period, you will have the ability to cancel your withdrawal request, but bear in mind that there is a possibility for the casino to charge you a fee for the cancellation. Another very important rule that all online casinos implement, is that the establishment also reserves its right to ask you for a copy of a personal document for security purposes.
As online casinos are constantly trying to outdo each other by delivering the most convenient payment features in their mobile applications, only a few make it work. There are those casinos that require moving funds from the web-based balance to the mobile service balance, which might seem seems a bit too complicated for some. The best way to operate with your funds, is when your web and app account balance are based on a single platform – this way you can request a payout from both your computer and smartphone. The statistics show, that the fastest and easiest way to make a deposit to their casino account is through their mobile device, because it is usually linked to their preferred bank card.
The Fastest and Slowest Ways To Receive an Online Casino Payment
After your withdrawal request has been processed, the casino will send your winnings via your preferred method. If there is some type of an issue that doesn’t allow for the transaction to take place, the casino reserves its right to send you the money via a method that would be more practical to the establishment. Here are the methods by which your money will arrive in your possession, ranked slowest to fastest:
- Debit Cards: For example, a transfer to Maestro or Visa Electron ( debit cards) will take the longest, with an approximation of 7 days. When you add the time for the process of the withdrawal request which is around 1-3 days, you will be looking at 8-10 days in total before you have your winnings.
- Credit Cards: Although a bit better than their Debit counterparts, credit card payments are processed relatively slow as well. Withdrawal requests will take up to 3 days, financial processing up to 5, and you can expect some money in 6 to8 days.
- Wire Transfer: Here, you could say that things do look a bit more optimistic, however, the difference isn’t that bigger. If you wish the casino to send you money to your bank account, it will take from 4 to 7 days. Add the request time frame, and you’re looking at 5 to 10 days in total.
- Online Banking: Skrill, PayPal, Neteller – these and other online banking platforms offer the best when it comes to speed. The average processing of funds takes around 1 – 2 days. After adding the obligatory request processing time, we have 4 to 5 days in total. The bottom line on all of these payment options is that they are all secure.
Customer Service is a Mark for Quality When it Comes to Payment
It is only natural for some players to experience difficulties in operating with their finances once they reach the online casino playground. Casinos with excellent reputation will always provide you with prompt assistance whenever needed, including in resolving any issue a player might experience. Deposit or payout mistakes are not uncommon, and the casinos with the most positive reputation online always manage to help their customers with their needs.
Keep Your Eyes Open for Transfer Charges
While some casinos provide their players with a multitude of options when it comes to paying out, some prefer to go with only a few methods. Usually, those can be quite expensive. For example, for some casinos charge a fee of up to $60 for a bank wire transfer. If the player would like to receive a payment check via mail, then that rate would come up to 30$. Among all casinos, however, the most preferable methods for paying out would be via Internet banking platforms.
After Your First Withdrawal Everything Becomes Easier
When you have “proven” your online casino account to the establishment, things would go much smoother when it comes to collecting your winnings. If you wish to optimize your payment process even further, register an account at an online bank platform that is the most preferred by the casino you’re playing in. Every online gambling venue has their own preferred Internet Bank, and all you have to do is visit the FAQ page to find out which one it is. Once you have that covered, you can be sure that any future withdrawals you make will arrive at your account in the fastest way possible. With all that being said, we wish you good fortune in your gambling endeavors!