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Processing Deposits and Withdrawals with Online Gambling Operators
An increasing number of players are beginning to take interest in transitioning from landbased to online casinos as the second option offers them enhanced flexibility, convenience, and ease. One question such players commonly ask themselves concerns the payments of the winnings they have accrued while playing online. And indeed, knowing how to withdraw what you have earned is one of the most important aspects of online gambling.
In brick-and-mortar venues, it is possible for customers to immediately exchange the chips they have won for cash. All one needs to do is visit the cashier box and request their chips to be exchanged. This is not the case with online casinos, however, where cashing out normally takes a bit more time.
Players need to first initiate the withdrawal and then wait for their cash-out request to be verified and approved before the funds can be transferred to their bank accounts or cards. This may be a minor annoyance for some impatient players but it would be fair to say that the delay is usually in their best interest and is necessary for security reasons.
Depositing and Withdrawing at Online Casinos
Online casino rookies will be surprised at how easy and convenient it is to process a deposit or withdrawal to their casino accounts. In most cases, the only issue that can possibly arise is deciding which payment method to use for the purpose. And indeed, respected gambling operators offer a vast array of payment solutions so that each and every player, who registers an account with them, can pick the option they trust the most. Many of the available methods are supported both for deposits and withdrawals which also furthers one�s convenience.
That being said, players need to keep in mind that deposit and withdrawal policies vary wildly between online casinos. Each gambling operator has set forth its own rules concerning payments, including deposit and withdrawal limits, verification procedures, accepted currencies, fees, and processing time-frames. Because of this, players are generally recommended to explore their options and do their homework before they sign up with any online casino. A little research as to what the casino offers in terms of banking methods and payment policies would definitely pay out in the long run, if you would excuse the pun.
Processing a Deposit
Now, let us go back to depositing at virtual casinos. You have completed your registration successfully and would now like to deposit in order to join the online action with a few real-money stakes. It is important to select the currency you intend to use in the process of registering since you may be unable to change it at a later stage. This will also prevent you from incurring additional fees for converting your payments from one currency to another.
The deposit procedure is beyond simple and goes as follows � first, you log into your new account and head to the virtual cashier where you need to click on the Deposit button to load the list with all the supported deposit options. Choose the one you find the most convenient and follow the instructions. In most cases, players are required to first input the amount they want to deposit, fill in their banking details, and confirm the transaction.
If you are using online banking, you will be prompted to select your banking institution from the drop-down menu and then sign into your online banking account with your client username and password. When depositing with a credit or a debit card for the first time, players are typically prompted to enter their card number, its expiry date, the card holder�s name, the name of the bank, and the card�s CVC number before they proceed to specify the deposit amount and confirm the payment.
Deposits at online casinos are usually processed instantly and you will receive a notification from the gambling operator to confirm the successful transfer.
Collecting Your Winnings
Collecting what you have earned while betting online is just as simple as depositing but unfortunately, the process is normally not instantaneous. To submit their first withdrawal request, players again need to sign in and visit the cashier section of their preferred online casino. Then, they should click on the Withdraw button to load the methods the casino supports for cash-outs. Upon subsequent withdrawals, the money is usually returned to the same method the player had used when depositing (if it is supported for withdrawals, of course).
Many online gambling operators require verification upon players submitting their first withdrawal request. In some cases, the player is sent a verification code via email and need to enter it in the respective field in order to proceed with the cash-out request. We will go into further details regarding verification in the section below.
What follows next resembles the process of depositing for the most part. The player selects the withdrawal method they intend to use, inputs their banking details and confirms the amount they want to cash out. The withdrawals do take some time as the casino needs to verify the request in order to ensure the player is indeed eligible for a cash-out.
This small delay enables gambling operators to make sure they are sending the right amount of money to the right person and thus, prevent money laundering, identity thefts, and other fraudulent activities from taking place. In most instances, withdrawals require between one and ten working days to complete, but which casino you are withdrawing from also does matter. The time-frame may also be affected by the withdrawal method one uses.
The Verification Process
As we mentioned in brief earlier, players are normally required to go through a verification procedure when submitting a withdrawal request for the first time, but this measure may be necessary at later stages as well when larger amounts of money are cashed out.
Verification is actually a standard procedure for all renowned and reliable gambling operators, one they need to go through for regulatory and security reasons. Thus, this procedure works both in the interest of players and online gaming providers. It helps the operator to determine a given player is of legal gambling age and to ensure the banking method they have registered at the website is indeed in their own name. This reduces the risks of players having their identity and financial details stolen.
Players are requested to provide scanned copies or legible photos of some documents so that the casino can verify their identity, address and banking details. The required documents include copies of the front and the back of one�s ID card, driver�s license or passport, copies of the front and the back of the card you have deposited with, as well as a copy of a recent utility bill to confirm your address.
There are several ways to go about this. You can send the necessary documents via a fax machine if you have access to one. Another option, and a much quicker one, would be to scan the necessary documents and send them to the casino�s support team by email. If you do not have a scanner close at hand, you can always take a picture with your smartphone and then email the photos. Just make sure the quality of the pictures is up to par so that the information on the documents is legible. Otherwise, you will be asked to go through this procedure a second time.
Some players are confused and even uneasy about the casinos requiring them to send copies of their credit or debit cards. There is absolutely nothing to worry about, however. The idea here is to verify that the details on the card match those you have provided. Note that the casinos, the reputable ones at least, never share the financial information of their players, like card numbers, with third parties.
But since you most likely will send the copies of your card via email, and this is not the most secure medium of transferring such sensitive information, you may want to take some precautionary measures to prevent any mishaps. One great idea would be to blur out some of the numbers at the front of the card. You can choose to blur the first six and the last four digits or go for the six digits in the middle � it is all up to you. Just leave some of the digits visible for the casino to look up. It is of utmost importance to also blur out the three digits of the CVC code at the back of your card.
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