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Managing Withdrawal Limits at Online Casinos

November 27, 2009

All online casinos impose limits on how much players can withdraw from the online casino in a specified period of time. It is very likely that at some time players will face the situation where they have won an amount greater than the withdrawal limit. This is an eventuality that players should be prepared for beforehand and should have a plan of action ready. Also they should realize that though they have a problem they are better off winning money than losing it.

First players should understand what they should not do. There is no point in raising a dispute with the online casino. The withdrawal conditions are clearly mentioned in the end-user agreement that has been accepted by the player. Hence the question of a dispute does not arise. Threatening the online casino with approaching a watchdog organization or the licensor of the casino is futile and counterproductive. There are far better options available to the player.

There are two ways in which the player can lose by having to keep his winnings at the online casino because of the withdrawal limits condition. The first loss is an opportunity loss because the player could have utilized the funds for some other purpose. If nothing else the funds could have earned interest for the player. The second potential loss is a risk involved of something going wrong with the online casino. For example the online casino may have to close down for some unforeseen reason and then may refuse to meet its payment obligations. These two potential losses get enhanced if the amount won by the player is large. What is large would differ from player to player. But if the player feels that the amount is large then he should take proactive steps to get back the funds as soon as possible.

The players would have to pay a price for getting the funds before time. The question is what price he is asked to pay and how does he evaluate it. But first of all he must contact customer support and inform them of the win. He must tell them that he would like to have the funds paid upfront and is willing to have an amount deducted from the sum if the casino is willing to oblige. He should ask the online casino to make him an offer. The amount that the player would have to forgo would at least be the interest benefit that he receives by being paid upfront. Actually even if it is a little more than that the player should accept it because he is safeguarding against the risk of the online casino closing down or other similar unforeseen situations.

If the winning is not significant then there is not much point in trying to reach a settlement. For one the online casino may not be very interested and even if they are they may ask for a reduction which would not be worthwhile to the player. In such cases it is best to keep withdrawing the funds as fast as the rules permit. Instead of depositing funds at any other online casino the player should wager at the casino where he has won so that he uses up some of his winnings while deriving mileage from them.

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