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Making a money withdrawal is commonly one of the fastest and easiest things you regularly run into when you are an online casino player. If you choose a good and reputable gambling site, it surely is.
At the end of the day, we are talking about your money. So, you should have hassle-free access to the winnings you accumulate while gambling. However, there are times when you encounter some difficulties in order to complete a withdrawal, particularly in terms of limits.
Withdrawal limits at online casinos
In each and every online casino, withdrawal limits can assume different forms. They can be amount limits, time limits, or a type of restriction than combines both. Here, we will let you know more about the subject.
The amount limits
An amount limit is in place when a given online casino states the value that you can withdraw in one sole transaction. This restriction can be set for both minimum or maximum limits.
For example, a site might determine that you can only cashout once you have at least 100 dollars in your account. And it may limit you to withdraw a maximum of 5000 dollars in one go.
In most cases, online gamblers are more interested in finding casinos that allow low-limit withdrawals. They want to be able to collect their winnings almost immediately after they hit them, without having to wait to reach a higher amount. That way, the money is more quickly and flexibly available for them to use.
The time limits
This type of restriction is pretty easy to understand. Casino sites can restrict you to make a limited number of withdrawals within a specified time frame. For example, the casino might only let you cashout your payments a maximum of two times per week.
The amount and time limits
In fact, limits that combine both amount and time specifications are the most common way to control withdrawals at online casinos. For example, you might only be permitted to cashout a maximum of 10000 dollars in a one-week period.
The amount and time limits can assume several varying forms, so make sure that you understand them completely and agree with them before registering your new account at an online casino.
The importance of verifying your casino account
As unlikely as it sounds, the truth is that many online casino players fail to understand that they can only freely make withdrawals from their account once it is duly verified.
This is not something that a few sites require and others don’t. It is a legal obligation established by the regulatory entities that grant licenses to online casinos.
In order to complete the account verification, you need to provide proof of your identity, age, banking methods and residence. You must do it by scanning a few personal documents that the site asks you for.
This process protects the casino operator from fraudsters and underage gamblers, and it protects the players from identity theft. The account verification process does vary from one casino to another with Jackpot City only requesting documents once you reach certain deposit or withdrawal limits and SkyCity Casino verifying your details as part of their registration process.
Now, you are equipped with the essential knowledge to understand how withdrawal limits are set and how payouts are processed at online casinos.