Online casinos are not as straightforward as they look and there are many things to consider to ensure that you get the best gaming experience. Things we recommend looking for when picking an online casino include the game selection, promotions offered, license and availability. Another key factor to consider, however, is the withdrawal process — in particular, the withdrawal processing time.
Many people overlook this important factor and are subsequently shocked when they find out they have picked an online casino that takes weeks to dish out their winnings! Our goal with this guide is to educate you on the importance of withdrawal times for online casinos, why speed matters and how you can select the casinos with the fastest withdrawal to get what you are owed quickly.
Benefits of quick withdrawal times at online casinos
The main reason we typically want fast withdrawals is because we want our winnings now! Whether you play slots or table games, if you make a nice bit of profit, you don’t want to wait ages to get what you’re owed. Aside from this obvious reason, there are other benefits to quick withdrawals at online casinos too:
You get jackpot payouts instantly
Imagine that you played a progressive jackpot slot such as 88 Fortunes and hit a mega jackpot worth thousands of dollars. If you went to withdraw those epic winnings and you found out that you wouldn’t get the money for weeks, you would likely be less than pleased.
Fast withdrawals ensure that you get the ultimate enjoyment out of any payouts and that there are no issues with the payment. You can enjoy your money immediately and put it to good use instead of the casino hanging on to it!
It ties the process up neatly with no room for error
We don’t know about you, but we hate having pending payments and transactions that aren’t complete. It puts us on edge, and we are not satisfied until everything is sorted. With fast casino withdrawals, the entire process is tied up neatly and you don’t have to keep it in the back of your mind.
It gives you financial flexibility
Obviously gambling shouldn’t be relied on as a source of income, but fast withdrawals do give you greater financial flexibility. If you’ve had an unexpected car breakdown and you need to pay $300 for repairs, and you have $300 built up as winnings at an online casino, then a fast withdrawal casino would allow you to easily access that money so you wouldn’t need to scramble to pay that unexpected bill. In contrast, if the withdrawal was going to take days to process, the money would essentially be useless.
There is less chance you will get scammed
The longer an online casino holds onto your money, the more chance you have of getting scammed. Unfortunately, this can happen and there are plenty of offshore online casinos that want to take your money. They will sit on withdrawals and keep giving excuses as to why the transaction cannot be processed.
Eventually, you might not even get your winnings! This makes using a trusted online casino that offers fast withdrawals a better choice to ensure this doesn’t happen.
What to look for to get the best withdrawal process at online casinos
Not all casinos are created equal and there is a huge disparity in the banking process used by many online casinos. This means it’s important to know what to look for to get the best withdrawal process including fees, accepted methods, and minimum and maximum limits.
Accepted withdrawal methods
There are many different withdrawal methods, but it’s important to realize that not every casino accepts all available withdrawal methods in every country or region. For example, a casino might only accept rarer payment methods for withdrawals such as cryptocurrency.
Always head to the banking section of an online casino to see what withdrawal methods they accept. If you can’t find the info on the dedicated banking page, it can often be found in the FAQs, help section or the website footer.
Withdrawal fees
Sometimes withdrawals aren’t free! In addition, there can be two types of withdrawal fees. The online casino itself may charge a withdrawal processing fee and then your payment provider might charge an additional fee for transaction processing. This ultimately means you won’t get all your winnings!
Ideally, you only want to use online casinos that don’t have any withdrawal fees and then pair this with a payment method that also has no transaction fees. You can then enjoy all your hard-earned winnings.
Withdrawal processing times
Obviously, the withdrawal processing time is hugely important! Please note that this is the time it takes the online casino to process your withdrawal request and it doesn’t always include the processing time for your preferred payment method.
While people like Mr Beast got rich from giving their money away, many online casinos don’t do this. They hold onto your money by having long withdrawal processing times. Ideally, you only want to pick online casinos that offer instant processing, or times of 24 hours or less.
Minimum and maximum withdrawal limits
Online casinos usually impose arbitrary minimum and maximum limits for both deposits and withdrawals. It’s incredibly important to find out what these limits are. Usually, if you head to the online casino’s banking page, you can find the information. If not, contacting the customer support team is a good idea to obtain this info.
For example, a casino might have a minimum withdrawal limit of $50, and a maximum of $5,000 per week. This has ramifications for things like jackpot winnings, as well as for casual players that may only want to withdraw smaller amounts.
Withdrawal methods that offer the quickest processing times
We have touched on this briefly already, but some payment methods are simply better than others when it comes to fast withdrawals. The fastest withdrawal methods currently include:
- Visa
- MasterCard
- E-wallets such as PayPal and Neteller
- Mobile payments such as Apple Pay and Google Pay
Virtually all these withdrawal methods are instant, so providing the online casino processes your payment quickly, you can get your winnings super-fast! In contrast, the following methods should be avoided for casino withdrawals as they are incredibly slow:
- Cheque
- Bank transfer
Typically, bank transfers and cheques can take five or more business days to process and then the payments have to be cleared by your bank too. There is literally no reason to use either of these payment methods for withdrawals unless you have no other option.
Avoid waiting for your winnings
In today’s modern age of technology with the epic range of fast online payment processing methods we have, there is literally no excuse for slow withdrawal times at online casinos! Any casino that withholds your money due to slow withdrawals simply isn’t worth your time and money.
Instead, look for an online casino that offers fast withdrawals. As you can see from the above, the longest you should need to wait is 24 hours, and ideally, you want your casino winnings instantly. Don’t settle for anything less — be diligent and check the banking info of any online casino before you register at it!
