It’s so exciting to win slots and if it’s a slots jackpot prize then your heart beats faster wanting you to cashout the wins as soon as possible. Winning at real casino and getting back your wins is easy process as all you need is to take your chips to the cashier to exchange them with real cash.
But when it comes to online gambling, the process of cashout works a little differently since you need to request a withdrawal electronically. Though this kind of taking back your wins is safe, secure as well as the money goes directly into your bank but withdrawing at online casinos take time.
Here is a complete guide to know and understand this process and find what is the fastest way to cash out your casino winnings.
Cash Out Your Casino Winnings
Every online casino has withdrawal options
There are many ways of withdrawing your winnings from online casinos. These are listed on the casino’s banking page under withdrawal section. But many of these options depend on your country of residence but rest assured that the majority of these methods are readily available in Philippine.
The most common options for cashouts are:
- Credit and Debit Cards
- Paysafe Card
- Skrill (MoneyBookers)
- Bank Transfer
- Fast Bank Transfer
All of these methods are really easy to use and your transactions will always be protected by the very latest 128-bit Secure Socket (SSL) encryption technology.
You need to fill out a withdrawal form to make cash out your casino winnings.
To get cash out your casino winnings, some online casinos might ask you to fill out a withdrawal form and to provide them with some form of identification like copies of a utility bill, your driving license and other documents that prove your identity and where you live. Although it might sound like a bit much, online casinos need to take precautions to ensure that there are no cases of identity theft or fraud. You should also welcome these safety precautions as the casino is ultimately safeguarding your interests as well.
You need to have minimum money or wins to make a cashout.
You need to make sure that you have enough cash to withdraw when making cash out your casino winnings. For example you couldn’t just withdraw $2.00 or $3.00. The minimum withdrawal amount is usually around $20.00. When you do have enough to withdraw, simply head to the cashier section at the casino and then select your preferred withdrawal method. You then need to follow the simple onscreen instructions which are relevant for your chosen method.
Winning progressive Jackpot
If you happen to win a progressive jackpot in excess of $1,000,000.00, a representative for the casino also known as a personal accounts manager may want to contact you to discuss the best way for you to receive your winnings. The online casino will offer free advice and support which you should listen to and take advantage of. They will discuss the quickest and cheapest way for you to get hold of every cent of your massive jackpot win.
The withdrawal options have processing time
The average withdrawal time usually takes a lot longer than your average deposit takes to be processed, so be prepared to wait for your winnings. Unlike a deposit which generally takes just a couple of seconds to be processed, a withdrawal is Never usually instant. It can take up to 48 hours to get a hold of your winnings (either back in your e-wallet or in your bank). However, most of today’s online casinos and online payment solutions work hard to get your withdrawal processed as quickly as possible.
- Credit Cards: Withdrawals from online casinos that are made through credit cards are really quick and easy. You simply need to provide them the same card information you gave them when making credit card payments. The process is extremely safe and often takes less than a week in some cases.
- e-Wallets: Online services such as Skrill, PayPal, and Neteller and withdrawals from your online casino account to your e-wallet account often takes 2-3 days, and you will need another few more days to receive the funds on your bank. The good thing with e-wallets is that they are the ideal choice for safety and privacy reasons.
- Bank Transfers: Bank transfers, also known as wire transfers, have been the main withdrawal option for most players. But you need to make sure the casino you’re playing in is a reliable casino as it will require you to share your bank account details. In most cases, withdrawals through bank transfers will take around 5 to 10 business days before you can receive your money. This option is ideal if you are using a deposit option which doesn’t allow withdrawals such as MasterCard.
- Bitcoins: Bitcoin withdrawals are superfast and you get your money in no time. Log into your Bitcoin casino account with your username and password and visit the Withdraw tab. In the Withdrawal section, enter your Bitcoin wallet address. Then type in the amount of Bitcoins you want to cash out from the casino. Bitcoins are free to use although some online casinos may charge you a small transaction fee for withdrawals.
Finally you will often find that a withdrawal can take anywhere from just few minutes as in case of Bitcoins to two to five hours or 48 hours of time to be processed. The time of day and also the day of the week that you are trying to withdraw can also determine how long it will take to receive your money. For example, if you try and withdraw on a Friday after 11pm, it can take much longer to process than when you attempt a withdrawal on a Monday afternoon. The amount of time it takes to withdraw will also depend on which method you are using to withdraw.
Also when you withdraw from your gaming account, don’t leave yourself with zero playing funds. For example, if you initially deposited $50 and end up winning $200, you could withdraw the $200 winnings instead of than withdrawing the entire $250. Doing this means that you won’t have to make another deposit. You will still have $50 to play with, even though you just made a big withdrawal.
Note that visa credit and debit card withdrawals are not available in certain countries due to local issuer restrictions. MasterCard credit and debit card withdrawals are not available due to issuer restrictions. There is maximum withdrawal amount per account except in the case of progressive jackpot winnings. Some methods are only available in certain countries and with certain currencies.
Always look for any charges and if you are being charged a fee for cashing out, there is no point in cashing out a big win just for the casino to take out a huge chunk in fees. The best withdrawal methods are the ones that are free of charge.
Therefore the fastest way to cash out your casino winnings is entirely dependent on your mode of withdrawal option as well as the type of casino you choose to play. Always play and win slots online at reputed legit and Philippine friendly casinos.
In case of any issue you can contact the online casino customer support via chat, email, phone, skype or Whatsapp.