Casino Deposit and Withdrawl Methods
If you’re playing at an online casino for real, then you’re going to be using your own money (hopefully!) of course, which means you are going to want to be able to get funds into your account, and out again, if you happen to strike lucky and get right up on a winning streak.
This article will explain many of the banking issues and options you’ll find at online casinos.
Compare All Casinos by Deposit Methods:
- Bitcoin Casinos
- Click2Pay Casinos
- ClickandBuy Casinos
- EntroPay Casinos
- InstaDebit Casinos
- NetEnt Casinos
- PayPal Casinos
- PaySafeCard Casinos
- Skrill Casinos
- Ukash Casinos
- Visa Casinos
- WebMoney Casinos
- Abaqoos Casinos
- Citadel Casinos
- AstroPay Casinos
- EcoCard Casinos
- Giropay Casinos
- Nordea Casinos
- POLi Casinos
- Qiwi Casinos
- UseMyFunds Casinos
- WebMoney Casinos
- Western Union Casinos
- Yandex Casinos
Most online casinos will allow you to deposit as little or as much as you want, but a few will have limits on the minimum and maximum deposits you can make. Most deposits (aside from wire transfers) are enacted instantaneously. You should always see if by making a deposit at a casino you’re entitled to a bonus.
As you might imagine, making a withdrawal at a casino is not as simple a process as depositing! Most casinos are absolutely fine at paying out, but others really love to drag their heels, especially when it comes to larger payouts. Nearly all casinos will want extra ID sent to process larger withdrawals anyway. You also need to be aware of “withdrawal limits” that some casinos have in place – this means that should you be lucky enough to win a massive amount, say from a slots machine with a progressive jackpot, you will only be allowed to withdraw the money in small amounts on a weekly or monthly basis.
The pending period is where a withdrawal is held once it is requested in order that additional checks can be performed, such as proof of ID and address, and investigations of how the funds were won. This only usually happens with larger withdrawals.
Some casinos operate a “reverse withdrawal” option where withdrawals are held “pending” in case a player changes their mind and decides to gamble on with these funds instead of withdrawing them. If a casino does this it should also allow players the option of moving these funds out of the pending area so they can no longer be reversed. This is known as “reverse flushing”.
Obviously, handing over sensitive financial institution online has issues associated with it, and online identity theft is a very definite threat. However, 99.99 percent of all online casinos use what is know as digital encryption when it comes to all aspects of finances. This means that all information that passes over the internet in regards to financial dealings is encrypted, so the information – if intercepted – is nothing but a meaningless string of numbers.
This is a breakdown of most of the common methods of funding used at online casinos:
Credit and Debit Cards
- Visa, MasterCard, Visa Debit, Visa Electron, Maestro, Switch, Solo, Diner’s Club, JCB, Entropay
- Plastic is your biggest pal at an online casino, and is the easiest way of funding your account. Most credit and debit card providers will also allow you to withdraw funds to a card, but some providers in some countries (for example MasterCard in the UK).
- PayPal, NETeller, Skrill (formerly Moneybookers), WebMoney, Abaqoos, eKonto, DineroMail, Instadebit, Yandex
- There are a huge amount of eWallet solutions available on the net, from the big players such as PayPal, NETeller and Skrill and beyond. Most casinos will accept at least Skrill and NETeller, but options become limited after that. You also need to be careful as some casinos will not allow eWallet solutions to count towards deposit bonuses.
- Paysafecard, Ukash, Postepay, Kalira, CashUp, Payr, AstroPay
- A prepay card is one you buy at a local retailer and then use as a normal credit card for online transactions. For example, you could buy a £20 prepay card for £21.50 at your local newsagents. You can then use that £20 to make online purchases, including funding you casino account. Prepay options beyond Paysafecard and Ukash at online casinos are not commonplace.
- Wire Transfers, Internet Banking, Nordea, SEB Pank, Sofortuberweisung/Sofortbanking, Swedbank, UseMyFunds, Transferencia Bancaria Local-LobaNet, Citadel, Multibanco
- Bank transfers usually mean ways in which funds can be sent directly from your current banking account, if it allows online banking. Nearly every casino will offer at least on option of direct funding.
- Qiwi VISA Virtual, Boleto, Giropay, iDeal, POLi, Przelewy 24, SEB Pank, FundSend
The typical times to process withdrawals are as follows:
- eWallets – 24 to 48 hours
- Credit or debit cards – 3 to 5 days
- Bank transfers – 4 to 7 days
- Cheques – 0 to 72 hours
The range of banking options can seem to be as confusing as the range of online casinos available themselves. That’s why here at Oddswinner we use our expertise to cut through the confusion and we tell you how good or bad we think the cashier options at any particular are. Just read our reviews and soon you’ll be able to make your own informed choices about dealing with a casino’s cashier.