Tips for Safely Depositing and Withdrawing in Online Casinos
In the 1990s, with the popularization of the internet, all types of entertainment companies made an attempt to have a presence on the World Wide Web. The governments of the two island nations of Barbuda and Antigua passed the Free Trade and Processing act, effectively allowing companies to get a license to provide their gambling services on the internet. It is still a subject of debate what company got there first and made the very first functional online casino, but there is very little doubt that Microgaming, and CryptoLogic are two of the industry trailblazers. CryptoLogic was one of the very first to offer the opportunity to play with real money securely, thus revolutionizing the online financial processing. Since then, in just a few decades, online gambling became a multi-billion-dollar industry.
Making a Deposit in an Online Casino
Most online casinos offer similar payment methods. They are generally straightforward to use, like making any purchase online.
Steps to Deposit Funds into Your Account
- The very first step to depositing safely in online casino, is to register an account.
- The currency of your account will be determined at the time of registration in most online casinos.
- Based on your location and your currency, various methods of payment will be available to you.
Common Casino Rules and Limitations on Depositing
- Always check the minimum and maximum limit on the online casino deposit page.
- Check the fees associated with the particular method of payment.
- Most online casino deposit methods are fast and your limits could grow over time once you have a better rapport with a casino.
- Most casinos have a deposit bonus, so make sure to check them out and benefit from the deals you get on a deposit.
Which Payment Methods Can Be Used for Depositing
Depending on your location and currency, various methods will be available to you. Some of the most common methods are:
- E-wallets like Skrill, Neteller, Jeton, and Digital Currencies such as PayPal, PerfectMoney, WebMoney, etc.
- Credit and Debit Cards
- Direct Bank Transfers
- Vouchers
- Cryptocurrencies
Withdrawing from an Online Casino
You may have already made your deposits and placed your bets, and collected your winnings. You may be asking: now how do I withdraw money from online casino?
Steps to Withdraw Your Winnings
Depending on your casino of choice, you generally need to follow these steps:
- Log into your account,
- Make sure you don’t have any bonuses with wagering requirements that haven’t been met yet,
- Go to the withdrawal section usually called “Cashier, or “Withdraw”,
- Choose your preferred method of cashing out
- Enter the amount you would like to withdraw,
- Confirm the request.
If you have done all steps correctly, your request is then placed in a queue to be processed.
Casino Rules on Withdrawals to Consider
Casinos have their own limits on how much money a user can withdraw at a time. Withdrawing in Online Casinos is usually not immediate. Most casinos ask for a 2 to 3 business days window to process your request.
Online Casino Depositing and Withdrawal Safety Rules You Should Follow
- Make sure the casino you are using is licensed. Certified casinos take steps to ensure the safety of your information so you don’t need to worry about your data protection.
- When depositing, make sure there is a small lock on top of the browser to ensure you are depositing safely in online casino.
- For safe withdrawal, all licensed casino must do security checks on all new as well as existing users. This is done to make sure the user is not underage, and that the payment method is not stolen and actually belongs to the user.
- Another thing to remember for safe withdrawal, is to make sure you know what rules there are in your area, regarding taxation and online gambling.
Payment Method Safety Rules
Credit Cards
Credit cards are perhaps the simplest form of making deposits into your favorite online casino. While trusted websites keep your information safe, you are required to put all your credit card information in, and so some are hesitant to use credit cards when depositing.
PayPal
PayPal is a simple to use methods of deposit. I am personally very careful when using PayPal as there are usually fees associated with making payments, or taking money out of a PayPal account.
E-wallets
E-wallets such as Skrill, Neteller, Jeton, and digital currencies such as PerfectMoney or WebMoney, create a barrier between a merchant, and your bank information. That is why many people prefer using e-wallets when making online purchases or withdrawing in online casinos.
Bank Wire Transfers
Depending on your geographical location and of course, the laws of your area, wire transfers may be available to you. Just remember that your banking details are required in full, in order to make a withdrawal directly.
Cryptocurrency
Now we get to my personal favorite method. Cryptocurrencies have revolutionized secure online payments. There is a growing number of casinos accepting various coins. Depositing and withdrawal using them, is one of the fastest and safest methods. While they are in my opinion, a superior form of payment, I would be remiss to not mention that while cryptos like Bitcoin have appreciated in value over the years, the volatility of some coins, may be a drawback to some.
Final Thoughts
I have tried to explain the most commonly used methods of depositing and withdrawal. Always remember that you don’t need to share your bank or credit card information to play in most sites. We suggest you always read the rules on deposit and withdrawal limits, and use the most secure method available to you. I prefer cryptocurrencies but you can always choose what method fits your needs and concerns best.
About The Author: John Duncan is a web operation executive at CannonBet. Born and raised in the cybersecurity world. He authors guides on cybersecurity and safety and loves sharing the best practices. You can contact the author via email.