Can I Instantly Withdraw Money From a Casino?
Having played at a casino online, you would know that depositing money is an easy and quick process. You enter your payment information, click confirm and voila, your cash is instantly available for spending.
The same, however, cannot be said about withdrawals which are more complicated and take a lot longer. It is not unusual for players to have to wait up to a week to receive any money they’ve won.
But it doesn’t have to be like this. It is indeed possible to instantly withdraw money from a casino, allowing you to use your winnings in a matter of seconds. To do this, three criteria have to be fulfilled.
Play At an Instant Withdrawal Casino
While seemingly hard to find in the vast ocean of gambling sites that casino enthusiasts swim in these days, there are in fact casinos that instantly pay you when requesting a withdrawal. These are sites that have made it a selling point to provide players with lightning-fast withdrawals in order to stand out.
When you make a withdrawal request from such a casino, your request would be automatically confirmed assuming certain criteria are met. This can happen at your everyday casino too, but usually, their internal processes are set up in a way that often requires the withdrawal to go through a manual check.
So, what are the criteria? First and foremost, have your account verified.
Have Your Account Verified (KYC)
All casinos that are legitimately licensed by organizations such as the UK Gambling Commission and Malta Gaming Authority are by law required to verify their players at some point to prevent fraud and money laundering. Sometimes the verification kicks in on the first withdrawal request and sometimes when you’ve reached a certain amount of accumulated cashouts.
To have withdrawals instantly processed, you have to make sure that your account is fully verified. This is done by providing the casino a photocopy of an ID, proof of address as well as proof of your payment method used.
Speaking of payment methods, this is the third and final thing you need to keep in mind if you want to withdraw instantly from a casino.
Use a Payment Method With No Transaction Time
It doesn’t matter if your account is verified and you play at a casino that supports instant withdrawals if you’re using the wrong payment method. For instance, you cannot deposit with a Visa or Mastercard and expect to get paid quickly. This is because of a transaction time that the casino has no power over.
With a withdrawal to a Visa or Mastercard, you would have to wait a couple of bank days before the money is received to your bank account, even if the casino sends it to you immediately. This is because current technology does not support instant withdrawals, but there is in fact a transaction time.
However, not all payment methods are affected by this. E-Wallets such as PayPal, Skrill, Neteller, MuchBetter and ecoPayz do not have any transaction time. Once money is sent to such a wallet, it is instantly received.
Important to keep in mind is that legitimate casinos have to follow a closed loop policy. This basically means that you have to use the same payment method for deposits and withdrawals. So, you cannot deposit with a Visa card and expect withdrawals to Skrill.
Other Things That Can Affect Withdrawals
With all of the above criteria fulfilled, you can expect to have the vast majority of your withdrawals instantly received. However, this does not necessarily mean that you can deposit money to a casino and instantly cash it out just seconds after.
Here’s a list of things that can affect your withdrawals:
- General T&C
Most casinos have it stated in their T&C that any deposit made must be wagered at least 1 time before you’re able to make a withdrawal.
- Bonus T&C
Most bonuses come with a wagering requirement that requires you to stake a certain amount of money before being able to cash out. So, if you have a bonus active, this may hinder you from withdrawing.
- Big Winnings
If you win a huge amount, such as a progressive jackpot, this may trigger the casino’s system and require your withdrawal to be manually checked. This is to make sure everything is in order as the last thing the casino would want is pay out a huge sum that turned out to be an error.
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