Cashing out money from an online casino, our guide
When entering the world of online casinos, you will probably have two goals in mind: spend some time having fun on the games, and making some extra cash. An online casino is quite different from a land one, and there will be a time when everything won’t be so clear. Our section will help answer your most common questions, starting with: how to cash out the money you made online?
Choose a licensed casino
First of all, avoid any funny business by choosing an online casino that has a good reputation. The more famous and the bigger, the faster you should get your money. On the Internet, you cannot just walk up to someone and ask them for your money. That is why you need to be extra careful. Don’t let your money vanish, by always checking that the online casino you are playing on has everything right on the legal aspect and that it has good reviews online. If you were wondering about a casino, try to look up our casino reviews, maybe we have written about them!
How to make the money in the first place?
Online casinos are a good way to make extra money, but how do you make money appear on your online casino account? The games are the main way to make money on online casinos. The more you play and win, the more money will show up on your account that you will be able to cash out. Also, all the bonuses will add either a chance of winning or cash to the balance.
When can I cash out money?
However, it is not all that simple.
- When you benefit from a no-deposit, welcome or any other kind of bonus, some cash out restrictions may apply, that are called wagering requirements. They are quite annoying for new players, because you will see some money on your account, but you won’t be able to transfer it into your bank account.
- Why is that? It is because most of this money is virtual money that you can only use to play, money that you got for free for signing up, and that you should spend on games.
Long story short, you will only be able to cash-out your money after meeting the wagering requirements, which can take some time depending on how high these requirements are.
Which methods are available?
You can choose from various methods, depending on the one that suits you the best.
- You can choose to transfer directly the money to your bank account, by entering your bank account details.
- When playing online, you will learn that there are such things as eWallets. These eWallets such a Skrill, Neteller, will enable you to store your money on a secured online account. From this account, it’ll be easy for you to move your money, pay with it or transfer it to your regular bank account.
- Otherwise, you can more traditionally withdraw your money using your credit or debit card account, or a Paypal account.
There are many different withdrawal methods, and it is up to you to choose yours.
How long does it take?
That entirely depends on the online casino and the method you are using. On most of them, the cash out takes between one and two days, however, it can take longer or less time. Virtual methods are faster.
- As an example
32Red transfers the money instantly on Paypal, Skrill, Credit card accounts and without any fees.
Casumo, if instant on Skrill and Neteller, will take 1-3 days to transfer the money to your credit card, and the same time for a bank transfer.
Also, keep in mind that you will sometimes need a proof of identification or residency when asking for a cash-out. If everything is in order from your side, this shouldn’t take long.