How Do Online Casinos Pay You

You've hit the jackpot! But how do you withdraw it? We'll look at exactly how do online casinos pay you and help find the method that works for you.

how do online casinos pay you
How Do Online Casinos Pay You

You topped up your online casino account, played your favorite online game, and now you've hit the jackpot! But how can you take out that hefty payout you won from your account?

We will look at exactly how do online casinos pay you and help find the method that works for you.

Real Money Online Casino Payment

Here are the most common payment methods used among real money online gambling sites.

Credit & Debit Cards

A hand holding two credit cards

Credit/debit cards are the most popular method among all payment methods since a majority of online casino patrons own them. You can pay for the money you deposited on your online casino account at the end of your billing cycle, allowing you to top up your bankroll even if you do not have money in an account.

However, some countries are cracking down on the use of credit cards to gamble - such as the UK did in 2020. Fortunately, a majority of jurisdictions still allow online casinos to take credit cards.                            

While credit cards are incredibly convenient when making a deposit, these have one of the slowest withdrawal times. It can take five business days or more for your winnings to appear on your account. In addition, all deposit payments made with this payment option can include interest. You are likely to pay more than the amount you placed on your account when the bill arrives.

PayPal

PayPal is a popular e-wallet service that is accepted by numerous internet vendors. Nearly any credit card or bank account can connect to the e-wallet service, allowing you to use your bank cards without giving your banking information to online casinos. This payment option is also well known for its consumer protection feature, which is incredibly useful if a player happens to deposit a rogue casino. In addition, withdrawals are very fast and can be completed within 1 business day.

 This payment option is a great choice for depositing/withdrawing from an online casino, however, not all jurisdictions allow Paypal transactions for online gambling. Unfortunately, US casino websites cannot accept PayPal, making it unavailable for American players. There is also the issue of fees that can take a large cut of your winnings when you withdraw it from your casino account.

Skrill

Formerly known as Moneybookers, Skrill is one of the longest-running e-wallet services that are widely used among online gambling sites. There are Skrill casino bonuses available for those who use this payment option. For anyone who wants to get their winnings out of an online casino quickly, withdrawing your money to your Skrill accounts can take anywhere between 1 hour or 1 business day.

Transferring money from your Skrill account to a domestic bank account is free. However, there is an international fee of 4.99% when transferring to overseas accounts. Foreign players should take note of this fee when withdrawing their winnings from their Skrill account.

Neteller

Neteller is a popular e-wallet among online casinos that operates from the Isle of Man. This payment option is accepted across more than 150 countries and will work with various banks. Online casino players' private information is protected by Neteller's SSL and 128-bit encryption against hackers. Deposits from your Neteller accounts are usually completed within an hour while withdrawals are one within 1 business day.

Availability is one of the major shortcomings of Neteller since it is not available across US online casinos, forcing American players to find alternative e-wallet services. There is also a considerable fee to pay when transferring your money from your Neteller account to your bank.

Cages & Cashiers

With online casinos in the US, you will often find each brand associated with a land-based casino in many states. Indeed, they allow you to deposit money in your online balance, and withdraw online gambling earnings at a land-based casino they partner with. This method is often called "the Cage".

Examples of cage withdrawals include:

  • BetMGM Cage Withdrawals in Michigan at the MGM Grand Detroit casino cage (source)
  • Betway Cage Withdrawals in New Jersey at the Golden Nugget Atlantic Casino cashier's cage (source)

We've also published a BetMGM review and a Betway review discussing all their deposit and withdrawal methods.

eCheck

Electronic Checks are a long-running alternative for those who cannot get a credit card. This bank transfer uses the Automated Clearing House (ACH) network to process all transactions. ECheck is one of the reliable payment options with low fees, allowing you to enjoy most of your winnings when taking it out of the casino. All eCheck transactions are also secured because of high-level encryption and digital signature use within the ACH network.

Online casino players who are planning to use eChecks will need to provide their bank account number and routing number, which could be an issue for players who want it keep this information private. In addition, deposits and withdrawals can take around 3 to 5 working days to complete.

Wire Transfer

Using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, wire transfer allows you and the online casino to send money directly to each other's bank account. This payment method has been around for a long time, making it available across numerous online casinos. Since there are no middlemen, wire transfer fees are incredibly lower than those on the list.

While wire transfer is great for online casino players who do not want to pay so much on fees, these transactions usually take longer than other payment options, Withdrawals usually take around 5 business days or more for this payment option.

Another issue with wire transfers is the direct payment to a bank account, which will create a gambling transaction record. This can be an issue for those who need to preserve their good credit scores.

Cryptocurrency

Bitcoin and other cryptocurrencies are the latest payment options offered by online casinos, with some dedicated bitcoin casinos emerging over the past few years. These crypto coins use the Blockchain network that allows for secure and transparent transactions. Depending on the cryptocurrency, transaction fees are much lower than other payment options.

Speed is another major feature of this payment option where deposits and withdrawals can take only minutes or an hour to complete. In addition, you can buy and sell these digital coins without using any private information or your banking data to play anonymously.

Out of all the payment options available, cryptocurrencies are the hardest for manage for those who aren't good with technology. You need to have a digital, software, or hardware wallet to store your Bitcoin and other altcoins.

There is also no consumer protection available for cryptocurrencies. All transactions are final and it is impossible to reverse them, opening the doors for rogue casinos to easily steal money from unsuspecting victims.

How do online casinos pay you?
The most common payment methods online casinos will use to pay you

What Can Stop Online Casino Payouts? 

There are times when an online casino will delay a withdrawal or refuse to pay its customers altogether. Below are the most common reasons why a licensed gambling site will not pay you.

Large Payouts

Extremely lucky players who won millions of dollars from an online casino, from games such as progressive online slots or high-roller games, will likely not receive their entire winnings within one day. This is not to say a licensed online casino is not going to honor your winnings. Instead, they will pay your winnings through monthly installments.

Not Clearing the Wagering Requirements

Players who just got a sizable online casino bonus are likely to experience a problem when withdrawing all of their money. All bonuses, including the winnings of your online slot free spins, need to clear the wagering requirement. Clearing the wagering requirement involves betting your bonuses a set number of times. If you got a bonus of $100 and the wagering requirement is set to 18X for example, you need to bet that $100 until you reach $1,800. You can withdraw the bonus once you reach the required wager amount.

A Glitch in the System

There is nothing more horrifying than the online casino software or website crashing just after you won a large online slot jackpot prize. Unfortunately, operators reserve the right to not honor your winnings should the game malfunction. This is likely due to the absence of a record that would indicate you won a specific payout from any game.

Lack of Qualifying Documents

Documents with a checkmark

As part of their Know Your Customer (KYC) policy, online casinos require all players to submit official documents to prove their identity. KYC and Anti-Money Laundering (AML) policies are expected among licensed online casinos since governments are worried about criminals using gambling sites to their advantage. If a player did not submit any ID or documents to clear the KYC requirements, they will likely have issues withdrawing their winning. Players will also face the same withdrawal problem if their documents have expired or are invalid.

Underage Gambling

Gaming regulatory offices such as the UKGC and MGA are incredibly strict with preventing minors from any gambling site. These offices are the reasons why you will never see any casino or sportsbook ads that have children in them. Licensed online casino operators are required by law to stop any minors from playing on their site. When an operator spots a minor through their KYC documents, they will stop all withdrawal requests and block their account.

What Happens When a Casino Does Not Pay You?

When you are having issues with your withdrawal, calling customer support is the first constructive step to resolving this issue. More than 50% of withdrawal delays and issues are due to a system error, which can be resolved by calling a casino's support hotline. There is also a chance you submitted the wrong KYC document, which is fixable by submitting the proper ID.

Should a sportsbook or an online casino refuse to pay you without providing a clear reason for their decision, the next step is to contact their licensing offices. Gaming commissions (e.g., UKGC, NJDGE) have a complaint hotline where players can report a casino that refuses to clear their withdrawals (which they are obliged to). You can also contact third-party assistance who can talk to the casino themselves and convince its operator to release your winnings.

Remember that gambling operators are allowed to ban you if you are winning too much. They would still be required to pay out earnings obtains legally, without cheating or abusing the system.

There are numerous ways for online casinos to pay you including ones with faster withdrawals and higher fees. Should you experience any issues with your withdrawals, always contact the online casino's customer support for help.

This article was published on April 22, 2022, and last updated on July 29, 2022.