If you’ve used an online casino or gaming site, you’re already familiar with the process of creating an account, adding funds and getting the fun underway by playing a few games. This is all well and good, but what if you win big? You’ll probably want to withdraw your winnings, but how? What are the options for collecting online winnings and which one is right for you?
With that in mind, here are some of the top methods of collecting or withdrawing money online, along with some of primary features and benefits, and pros and cons of each so you can decide.
In most cases the casino sites you use will allow you to withdraw cash, as well as make deposits, using a debit or credit card linked to your bank account. VISA and MasterCard are the most widely supported payment card platforms. It is unusual to find an online gaming site that accepts other types of credit cards.
The one downside to using a payment card as a withdrawal method is that it can take several days for the funds to pop up in your account. Reputable casino sites like Casumo are honest with users, citing a wait of up to 5 business days. This website is dedicated to Casumo guides, so head there for more information on card withdrawal options.
This digital money transferring service has become one of the most popular solutions for online casino withdrawals since it was launched—racking up millions of users in many countries and boasting impressive levels of security.
What makes this more appealing is that Skrill also makes it easy to swap funds from one currency to another, so if you want to take money out of a casino site that uses a foreign currency, this service ensures that it is straightforward.
Another perk of Skrill is that transfers occur instantly, so as soon as your withdrawal request is approved by the casino, the money will pop up in your account and you are free to use it as you see fit.
Security is at the heart of Neteller, which is a platform that not only focuses on handling money transfers, but also helps you buy with confidence at thousands of sites. So if you want to cash out after a win at an online casino, this is a solid withdrawal method that will also keep your identity safe and prevent fraud in the process.
With tie-ins linking it to mainstream payment card providers including VISA and MasterCard, there is plenty of flexibility when using Neteller. And since it is FCA-regulated, you can place your trust in it without fearing that anything untoward will happen to your money or your personal info.
Paysafe is actually the parent firm behind Neteller but is also available as a distinctly branded platform that is not only used by individuals, but is also a favorite of many commercial customers.
Those who sign up for a Paysafecard can not only use this to make withdrawals from casino sites but can also pay into their accounts so that they can keep the slot machine reels spinning and the poker chips stacking up in the virtual space.
There is no need to even have access to an existing bank account or payment card in order to set up an account with Paysafe, which obviously gives it the edge over some of the alternatives.
If you want to transfer funds from an online casino service directly into your bank account, this may be offered as an option, depending on the operator.
The upside of opting for a bank transfer is that you do not need to sign up with any of the subsidiary services mentioned so far in order to get the ball rolling. However, there are a couple of downsides to consider.
First, there’s the delay. You can expect to wait a minimum of one and a maximum of five working days between requesting a withdrawal and actually having the money make its way into your bank account.
Second, there’s the security issue. You may not want to give your account and routing information out to a third-party site.
Making withdrawals from online casinos is surprisingly flexible and can be very secure. Just ensure that you are aware of the ins and outs of each method we’ve covered and choose the option that works best for you.