The popularity of online casino gaming has been accelerating wildly for decades. Increasingly, the sector is attracting the attention of those who would have otherwise never set foot in a conventional casino. Accessible 24/7 from almost any location worldwide, the appeal of online casino gaming is easy to understand.
How Does an Online Casino Work?
Online casinos are powered by a sophisticated software, which is designed to create outcomes at the same randomness as a traditional casino game. Rather than a mechanical roulette wheel, for example, an online casino uses a random number generator to determine the outcome of each ‘spin’.
Consequently, the odds of winning (or losing) at an online casino are the same as when playing in the real world.
Playing at online casinos brings a long list of benefits, not least of which being the generous introductory incentives on offer. New players are routinely handed lavish rewards and huge sums of bonus credit, simply for signing up and getting started in the first place.
Gambling online for real money begins with opening an account at a top-rated casino, before depositing funds into your account to be spent on your preferred games. Most deposit methods are practically instantaneous, meaning the money you add to your account is ready to use within seconds.
But when it comes to withdrawals, processing times vary significantly from one payment type to the next. Most casinos allow their customers to use credit cards, debit cards and prepaid cards, along with more innovative payment systems such as PayPal, Neteller, Skrill and many other e-wallets.
Depending on which payment method you choose, you could be looking at withdrawal times of anything from 60 minutes to three working days.
What Are the Fastest Withdrawal Methods?
It’s comparatively rare for an online casino to accept deposits via payment methods that are not instantaneous. Bank wire transfers used to be a popular choice for depositing funds into casino accounts, but are rarely used these days.
From credit cards to debit cards to online wallets and so on, the overwhelming majority of deposits are processed instantaneously.
Consequently, it’s worth paying closer attention to a casino’s policy where withdrawals are concerned. The time it takes to withdraw money from a casino will always be influenced by two things:
- The time it takes for the casino itself to action the withdrawal
- The approximate processing time in relation to the payment type
Being mindful of the first of the two is particularly important, as some casinos are in no hurry to action withdrawals. Depending on the casino you sign up with, you could be looking at anything from one to 10 working days for the casino itself to set the transfer in motion.
Some casinos also impose minimum and maximum withdrawal amounts, or place limitations on how many withdrawals players can request each month.
As for the payment types themselves, processing times vary significantly from one payment method to the next. Here’s a brief overview of how long you can expect to wait to get your hands on your money, when using the most popular online casino payment methods:
PayPal is one of the fastest, simplest and safest platforms when it comes to online deposits and withdrawals. Transfers from one PayPal account to another are immediate, while transferring money from a PayPal account to a traditional bank account can take up to 48 hours. The transition usually takes a few hours at the most, but it all depends on the time taken by the bank to notify the procedure. Most online gaming platforms allow the use of PayPal as a payment option, and all you need is a private email address to use it.
Visa or MasterCard Credit Cards
Credit cards that use Visa or MasterCard to transfer money are the easiest and quickest way to deposit funds when playing online. They use 3D Secure and MasterCard Secure Code security systems respectively: both work by requiring a transaction password that you receive on your phone number when you deposit. Deposits made by way of credit cards are instantaneous, while withdrawals can take between two and five working days to process.
Skrill is a payment system similar to PayPal. With this platform, transactions are carried out immediately, with variations of little time depending on the regulations in force in the countries. Skrill works in a similar way to PayPal, and is considered a particularly secure payment method for these kinds of transactions. Withdrawal processing times vary from one hour to one or two working days, depending on the time and date of the transaction.
Neteller is one of the most popular e-wallets used by international online poker players. Its efficiency is well known throughout the world, and its operations are regulated by the UK’s Financial Services Authority (FCA). The service is one of the fastest available and the fees charged are very competitive. You do not need to have a credit card registered in your name to use this payment method, and the overwhelming majority of payments (in both directions) are processed instantaneously.
PaySafeCard is one of the world’s most popular prepaid systems. The service works with a 16-digit password, which you acquire when you activate it after purchasing a card from an authorised merchant. This payment method is also perfect for those who do not have a credit card, and allows you to receive money without having to share your bank details with the online casino. Processing times are similar to those of credit and debit cards – withdrawals typically taking around three working days to process.
Why are withdrawals at online casinos not instant?
When requesting to withdraw money from an online casino account, the bank operator is obliged to verify the identity of the person initiating the transaction. This is why the first time you withdraw money or change your withdrawal method you will be asked to send a photo, screenshot or scan of your ID. These steps are only required once to ensure the security of your gaming experience – all future withdrawals will usually be much faster.
If looking to find the best casinos on the web, sites like nettikasinot-ilman-rekisteröitymistä.com feature an extensive list of top-rated options to choose from. Before signing up, be sure to check out the terms, conditions and FAQ sections of the casino you’re considering, in order to ensure you’re happy with its payment and withdrawal methods, and its general transaction policies.
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