How do payouts work in an Australian online casino?
If you play with real money in an online casino, sooner or later you will actually win money. And of course, you want to get this money won as quickly and easily as possible from the online casino.
Generally, depositing money at an online casino is a quick and easy process, however, players regularly have questions about payout.
This is due to the additional steps required if you want to have real money paid out by an online casino. So it’s not at all strange that new players get a little confused by this.
It is precisely for this reason that we have written this guide to paying out at an online casino.
How to withdraw real money in an online casino
Winning money for the first time at an online casino is a great feeling, and it goes without saying that you’ll want to indulge yourself a bit with this amount of money.
However, in order to do this, you must first have the amount paid out. The process of withdrawing real money at an online casino is fortunately quite simple, and nowadays there are even direct payouts.
Below is a step-by-step explanation that shows you how the payout process works.
Of course, not every online casino uses exactly the same method for withdrawing money, but there are a number of required steps that can be found in almost every casino.
This is most likely what you should do:
- Log in to your account first.
Then go to the casino’s “Cashier”, the “Wallet” page or something similar. - Choose the “Withdrawal” option to start the payout process.
Select the desired payment method. If you have not done this before, please fill in the required details. Furthermore, most casinos require that you use the same payment method for both deposits and withdrawals. - Enter the amount you want the online casino to pay out.
- After completing the necessary steps, confirm the payout and wait for the transaction to be processed.
And that’s all. All you have to do is follow these simple steps before your money will be paid out by the online casino.
If you have any other questions, don’t hesitate to contact the casino’s customer service – that’s what they’re for!
Always keep in mind that the withdrawal time may vary from one online casino to another, as each casino may have different rules about this.
When is the money in my account?
It’s important to note that paying at an online casino is not a lightning fast process. Although it doesn’t normally take much time, you should be aware of a waiting time of a few days.
There are two reasons for this delay. Firstly, online casinos need time to process your request. The time required for this varies from one casino to another.
In general it can be said that an online casino needs 2 to 3 working days to process your payout request. During these few days, you will normally be able to cancel your request.
Secondly, the waiting times for each payment method are different. Some payment methods simply take longer than others. For example, Skrill and Neteller are very fast.
Below you will find the most commonly used payment methods for payouts at the casino, along with the average waiting time of this method.
Furthermore, we recommend that you always use a tried and tested and reliable payment method.
Credit/debit cards: within 3 working days
E-Wallets: instant
Bank transfers: within 5 working days
However, these are only estimates. For example, verifications may take longer, so we recommend that you start them as soon as possible.
Sometimes a casino will process your withdrawal request faster than usual, and sometimes slower. The waiting time at an online casino will always vary.
However, there are exceptions such as Pay ‘n Play casinos which are very much focused on payers. These are generally fast in payouts.
What restrictions apply to payouts?
Each casino has specific rules regarding the payment at an online casino. It is therefore important to read the terms and conditions before playing, as this can prevent unwanted surprises.
Below you’ll find the most common restrictions along with a short explanation.
Betting requirements
How many times you must have wagered the value of the bonus before you can request a payout. To demonstrate this, we will use a 20x round play condition and a $100 bonus.
In this example you have to wager 20×100 ($2,000) before you can withdraw the original deposit and bonus. In some casinos, the wagering requirement is also applied to the deposit itself.
Therefore, the wagering requirement will be (100+100)x20, which is equal to $4000.
Payout limits
Most online casinos set a limit on the amount the player can withdraw within a certain period of time.
Most casinos have daily, weekly and monthly limits. VIP members often have elevated limits.
Frequency limits
The number of times you can withdraw money. Players are limited to a certain number of payouts within a certain period of time.
Quantity limits
The amount of money a player can open at once. Some online casinos do allow one big payout in specific situations, such as after winning a big prize at a jackpot slot machine.
However, the payment method itself may also have daily or weekly restrictions, so always check this in advance to avoid disappointment.
Security checks/KYC
All regulated online casinos are required to perform security checks on both new and existing customers.
This checks whether the customer has reached the age of majority and whether the specified payment method is actually his or her own. These checks are fortunately quite quick and simple.
Proving your identity (submitting a copy of an identity card, passport or driver’s license) is usually the only requirement. However, some casinos also ask for proof of address (energy bill).
For payouts with a credit or debit card, players must also submit a picture of the front and back of their card.
Don’t worry, your personal information will be well protected. Casinos have the latest encryption techniques to protect this information.
Normally you send the information by e-mail, but there are also a number of online casinos that allow their customers to upload the documents directly to their site.
The security checks may be annoying, but it’s nice to know that the online casino meets all legal requirements. Especially when you’re a new customer, it makes you feel safer.