There are few things that gratify and thrill the mind like winning real money in gambling, the same can be said about online gambling as well. If done responsibly without putting your financial health in any sort of jeopardy: playing a few games for money can be both exciting and rewarding, and even more so when you get used to winning.
Players who win and wish to withdraw their winnings should be mindful of the processes that go into taking their earnings out. After all, the money you win online is the biggest perk of playing these games.
In this blog, we discuss some simple steps to claim your winnings without providing a huge list of documents.
How Do You Withdraw Money From An Online Casino?
Rules for withdrawing money online for casino winnings are invariably consistent for most of the well-known and trusted sites. Of course, every site has certain rules for payouts but you’ll most probably need to follow these steps to get your winnings:
- Check the minimum balance required for withdrawing your winnings
- Start the withdrawal process by filling in the amount you wish to withdraw
- Choose your preferred mode of payment
- Wait for the payment to be transferred to your registered bank account
What Identity Proof is Required for the Withdrawal of Online Winnings?
The best casino sites in India accept government-issued ID documents like a Passport and Aadhar Card. Account verification may take up to 72 hours.
Make sure you fill out your details correctly.
What is the Average Withdrawal Time for Online Casino Winnings?
The time taken for withdrawing winnings varies from casino to casino, along with payment methods. Some casino sites also make payments in UPI, PayTm, and E-Wallets.
Let's find out the requirements for withdrawing real money in gambling from online casinos:
E-Wallets
- Processing Fees and time : There are no processing fees, and withdrawal is instant
- E-Wallet Account : You need to have either Neteller or Skrill to get paid, and your account ID will be required to process the withdrawal
- Transfer Charges : You will have to pay processing fees to transfer the money from your E-Wallet Account to your bank account
Paytm
- Processing Fees and Time : Zero processing fees, and the time taken for withdrawal can be between 1 to 2 days.
- UPI or Wallet : You need either a Wallet or UPI to get payments, and your bank account needs to be linked as well
- Conditions for Withdrawal : Look up the conditions for withdrawing on PayTm
Cryptocurrency
- Processing Fees and Time : Zero processing fees, and you can withdraw winnings instantly.
- Safety : Cryptocurrencies like Bitcoin are considered the safest modes of payment due to cryptography, online wallets, and high security
Bank Transfer
- Processing Fees and time : Banks do charge some processing fees, and withdrawal can take up to 7 days
- Acceptance : The best casino sites will allow you to transfer the winnings to bank accounts. However, the problem with bank transfers is that not all casino sites accept this payment method.
Also Read: Depositing Money At Online Casinos In India
Tips for Faster Withdrawal of Winnings from Betting Sites
Knowing the rules might help you withdraw your winnings quickly from not just the best casino sites, but any casino site for that matter. Here are some tips that will ensure faster payment:
Knowing the Limits
Every online betting site has withdrawal limits, and knowing them will help you process the payment faster. Find out the minimum and maximum withdrawal limit of the betting site before you apply for withdrawal.
Generally, banking options have lower minimum withdrawal limits compared to limits for e-wallets. The minimum limit varies between Rs. 4000 and Rs. 10000.
To ensure there are no problems, know the total amount and the withdrawal amount. You can look for separate subheadings like accessible funds, total funds, and other funds to lower the chances of making errors.
Rules for Wager
There are wagering rules that you need to know before you start playing. To withdraw real money in gambling, you should be aware of the welcome bonuses or free bets.
Your withdrawal request needs to be 35 times the bonus and initial deposit.
Time for Withdrawal
The time taken to withdraw your money would depend on the payment mode you opt for. While Bitcoin payments are instant, bank transfers can take up to 7 days.
Most sites will transfer the money to your chosen wallet in 3 days.
Find out the currency the casino accepts. If it's a currency that is different from your currency, then converting them to your currency may cause payment delays.
Cancellation of Withdrawal
You might want to cancel your withdrawal, and there are options for that. You could raise a request for the same through the account settings for the site.
However, note that you might need to get the support team to help you with certain sites.
Ensure Proper Identification
You should be ready with acceptable government identification, and there should be scannable or readable images for instant access.
This helps the casino verify your age, whether you are legally eligible for playing online games, and that you are the person you claim to be.
Withdrawal Terminology
You should be familiar with the following withdrawal terminology:
- Withdrawal Lock : This feature can save you a couple of days as withdrawals will be sent directly to the processing
- Withdrawal Reversal : If you change your mind regarding withdrawal or wish to withdraw a different amount, this feature can be helpful. However, you need 24 to 48 hours for this.
- Manual Flushing : You need to inform customer service to avail of manual flushing. With this feature, the 24 to 48-hour pending period can be avoided.
Reasons for Delay in Payouts
Your payout could be delayed due to the site operator or the third-party payment processor. Here are the top reasons for the delay in payments:
- The withdrawal volume is higher than the maximum limit
- Technical problems
- Unable to verify identity
- Fraud
Conclusion
Playing games online is an exciting experience, and becomes all the more fun when you win real money in gambling. To ensure you don't face any problems getting your money and to get it in the shortest possible time, you should follow the tips discussed in this article.
Each online gaming platform has its own rules, and you should check them before playing on the best casino sites in India.
Find out the different payment options they provide and ensure that you choose the fastest one. Your total amount won and the amount you can withdraw are different, so know these limits before you opt for the withdrawal.
So now that you know the rules for withdrawing money from online casinos, what are you waiting for? Start gaming now!
