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Cashing out at Online Casinos

October 01, 2010

For regular players cashing out is a simple operation performed mechanically. However, it involves taking care of quite a few factors, which new players may tend to overlook. This article takes new players through the more important of these factors.

Every online casino will have somewhat differing rules and procedures for cashing out. Therefore it is essential that players read and understand the Cashier section completely. In some online casinos this section is labeled as Banking. Further information can be found in the Cashier related FAQs and in the end user agreement. It is a good idea to prepare a simple check list for cashing out based on this information.

Online casinos are required to maintain identity and address proof of all real money players. Therefore they may ask players to fax copies of relevant documents. Usually online casinos allow players to make deposits and wager even if the documents have not been submitted. But they will block withdrawals. Therefore before making the first withdrawal players should ensure that the documents have been submitted.

Players who avail bonuses must be aware that there are restrictions on cashing out until the wagering requirements have been met. Usually the cashable amount and the bonus related amount are kept in separate accounts and clearly demarcated. Hence the likelihood of inadvertently withdrawing from the bonus account is remote. However players must note that trying to withdraw more than the cashable balance is not looked upon favorably. Most online casinos will simply not permit the transaction. But others could take disciplinary action as well. This could be in the form of forfeiture of the winnings from the bonus or a suspension from the casino. Hence it is better to double check and not to make a mistake.

Online casinos stipulate minimum and maximum withdrawal limits. It is better to find out what these limits are and stick to them. This one time effort will save repeated transactions failing because the limits are being violated. There are two issues about these limits that are important. Many online casinos specify a maximum limit on cumulative withdrawals over a specified time period. Therefore the player has to ensure that the current withdrawal does not violate the cumulative limit. All online casinos allow access to the player’s financial transactions history. It is a good idea to check this out before requesting a withdrawal. In some cases two independent limits may apply to cashing out. One may be by the online casino and the other by the payment services provider. In such a case the more stringent of the limits will apply.

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