Don’t worry, though. There are plenty of terms out there that also affect high-limit players and depositors. High rollers often play huge spins on slots or go for maximum bets on the tables and they want big payouts when they hit it big. Often, these players get all their money. Other times, they have to wait several weeks due to a casino’s maximum withdrawal limits and the number of withdrawals they’re allowed to make over a certain period of time.
If you prefer to withdraw smaller amounts as you win them, though, there are plenty of minimum withdrawal casinos out there for you.
Why Do Casinos Have a Minimum Withdrawal Limit?
As we’ve mentioned, most online casinos have minimum withdrawal limits in place. Some have daily limits while others have weekly or monthly limits. It all depends on which casino you choose to play at.
If you’re unable to find the withdrawal limits under a casino’s Banking or Cashier tab, you’ll probably find it highlighted in the terms and conditions. The limits are set in stone. However, a casino can waver them if you’re a high roller or VIP player.
There are plenty of reasons for casinos imposing withdrawal limits, but the number one reason is to protect themselves. No online casino operator wants to see players logging off with hordes of cash. By having limits in place, it ensures you stick around and keep playing your favourite casino games.
Withdrawal limits also ensure that the casinos aren’t bankrupted by an onslaught of fortunate players all at one time. This is especially the case when it comes to massive progressive jackpots. It’s not uncommon for progressive jackpots to run into the tens of millions, and it’s then that limits really come into play. In fact, many online casinos stipulate that they will split progressive jackpot payouts into monthly instalments.
What You Need to Know About Withdrawal Limits
When it comes to withdrawing funds from your online casino account, most casinos impose certain limits. Limits may also apply depending on which withdrawal method you choose to use. What’s more, the withdrawal limits can apply to both the maximum and minimum amounts. You’ll even come across withdrawal limits based on a daily, weekly or monthly basis depending on the minimum withdrawal you want to make.
What’s important to note is that the online casinos reserve the right to limit just how much you can withdraw at a time. You’ll find this information within the casino’s Terms and Conditions page and it’s important to always check the limits before you sign up to a particular online casino.
Minimum Withdrawal Limits at Online Casinos
Minimum withdrawals tend to be very similar at most online casinos and are often overlooked by players, with many instead focusing on maximum withdrawal limits. Yet, minimum withdrawal limits apply at a great number of online casinos, with most casinos also requiring you to make a minimum deposit of anything from $5 to $10. However, it’s the minimum withdrawal methods for payment methods such as check and wire transfer that tend to be a whole lot higher.
The minimum withdrawal amount tends to hover around $10 to $10, with $20 being the average for many online casinos. The casinos themselves set their own minimum withdrawal limits, so it’s important to check out this information beforehand. There are times when live dealer casinos that focus exclusively on table games may have higher limits compared to slot-heavy sites.
How to Withdraw the Minimum Amount from an Online Casino
Before you withdraw the minimum amount allowed from your preferred online casino, you must familiarise yourself with the casino’s withdrawal policy. These tend to vary between casinos and include specifications for transferring funds from your casino account to your preferred banking source.
The good news is that it’s relatively easy. All you do is log into your account and request a withdrawal from the virtual cashier at the online casino. You’ll usually find a button or tab for withdrawals, and you can then enter the minimum amount you want to withdraw and select your withdrawal method of choice.
Can the Same Banking Method Be Used to Deposit and Withdraw Casino Funds?
It really depends on the payment method you choose, but most of the time the answer is yet. With e-wallets, you can both deposit and withdraw money from your online casino account. The same goes from some credit cards, such as Visa.
To find out if you can deposit and withdraw with the same banking method at your chosen online casino, check out the Minimum Deposit Casino Reviews.
How Long Do Withdrawals Take?
This all depends on the banking methods available at a particular online casino and which method you ultimately choose. Withdrawals can take anywhere from a couple of minutes to a week. E-wallets such as Skrill and PayPal often process casino withdrawals almost immediately. But everything else needs to be in place in terms of your player account, like your verification documents and security question.
Is There A Best Minimum Withdrawal Method at Online Casinos?
E-wallets remain the best and most popular minimum withdrawal methods. PayPal, Neteller and Skrill are top contenders that boast the fastest online casino payout times, top-notch security and ease of use. Eligible credit cards come in at a close second while online bank transfers are also popular with many casino players.
Why Would a Withdrawal Be Declined?
It sometimes happens that you can’t process a deposit or request a withdrawal, which can be frustrating. But there are some very good reasons for a casino rejecting a withdrawal request.
The most obvious reason a withdrawal may be declined has to do with promotional offers and casino bonuses. Many players forgo reading a bonus’s terms and conditions and there are usually specific wagering requirements attached to a casino’s offers.
If you do not fulfil the wagering requirements, you can’t withdraw your winnings, even the minimum amount. What’s more, if you initiate a withdrawal before clearing your wagering requirements, you risk both your winnings and remaining bonus credits being voided and removed from your account as a result of promotional abuse.
Online Casino Withdrawal Terms and Conditions
In an ideal world, an online casino would have terms that allow individual withdrawal methods to have their own minimums that are the same as the deposit minimum amounts.
Yet, it’s understandable that casinos require different minimum deposits and withdrawals for different banking methods. We aren’t by any means going to fail the casinos we review that have a minimum withdrawal exceeding the minimum deposit, because it’s pretty much the norm in the industry.
On the whole, minimum withdrawals are set by the casinos themselves by can range from $10 to $30. The total time for completed payment on your withdrawals can be anywhere from a few minutes for e-wallets up to 7 business days for checks, with the average processing time sitting at around 1 – 2 business days. Often, if you request less than the maximum withdrawal amount at an online casino, you’re paid promptly. These are usually the players that are excited to win something and by the casino paying them out quickly, it’s more likely they’ll make another deposit and carry on spending their funds at that particular online casino.
As for the high rollers among us, it’s just not enough to say that the withdrawal limits should be as high as they can be. What’s more, high rollers can typically make a request and look forward to speedy payouts from online casinos.
Fast Pay-out Casinos
Whether you are playing 1, 5, 10, or 20 deposit casinos, there is one thing which all of these have in common: the need for a secure payment method. Even if you are playing one of the many popular No Deposit Casinos, a choice of casino payment options is imperative, and players need to feel safe, secure and that their personal and financial details are safe.
In addition to security, many players have another key priority to consider speed. Placing deposits and withdrawing winnings are crucial parts of the casino experience, and this is where Fast Pay-out casinos become your new best friend.
As the name suggests, Fast Pay-out Casinos allow you to get your hands on your cash almost instantly, and so have risen dramatically in popularity with players. They allow super-fast sign-ups, with identification documents being authorised quickly, and this helps to speed up the entire process, offering instant access to your cash.
What to Consider
When choosing a payment method, there are two main areas which tend to be a priority for players; safety and speed. Customers need to know that their personal and financial details are secure, no matter where they are playing, and that they will be able to make any deposits or withdrawals quickly and easily. Convenience is crucial, and an increasing number of casinos are realising the importance of this by offering an array of fast pay-out methods.
Fast Pay Methods
Some of the most popular payment methods for casinos include:
This is both secure and speedy; deposits and withdrawals are made using a 16-digit PIN rather than releasing personal details, and all identity checks are preauthorised to speed up the entire process.
Mastercard is widely considered one of the most convenient payment methods and allows instant deposits. A popular choice, it can even be used for minimum deposit casinos such as Lucky Nuggets which only require a $/€1 commitment, and its flexibility is a large part of its appeal.
E-wallets such as Neteller are another super popular choice, and again, this is largely due to a combination of convenience, security and speed. Your deposits are made from the balance in your e-wallet, rather than having to enter any payment details directly to the site. In general, most transactions take between 2 and 6 hours, and this offers a safe, fast way to enjoy your favourite casinos, from free spins to match bonuses!
Skrill is another option which works in a similar way to Neteller but tends to take a little longer – players are asked to wait up to 24 hours for the transactions to complete. While not the fastest method, this is a popular choice in casinos which offer more limited payment methods.
Cryptocurrency is a growing favourite amongst players, and many smart casinos have realised that this is a great trend to leap on board with. Not only are transactions made via Bitcoin designed to be totally secure and safe, they can be sorted quickly; most casinos will be able to process the payment within 24 hours, and this is a timeframe which looks set to decrease as the technology becomes more popular and prevalent.
Choosing A Casino
There are a lot of factors to bear in mind when choosing a casino, but speedy payment methods is a definite priority. Choosing a Fast Pay option speeds up the entire process, making it a far more appealing option for players. Those which offer the chance to place minimum deposits quickly are also important and boost the entire casino experience for visitors.
Online casino banking terms can be complex, and they can affect your gaming. This is especially so for low-rollers who like bonuses and who don’t realise that even when they’ve turned $25 into $125 with the help of a casino bonus or Lady Luck, need a balance of at least, let’s say $150 to cash out.
What’s more, it’s important to understand that some online casinos also charge fees on individual withdrawals. Some even break up the payouts into smaller parts and then take fees out on each individual part.
What’s more, before you even sign up with a casino, it’s important to understand with the minimum withdrawal amount is. If you prefer to play low and withdraw low, you’re going to want a casino that’s happy for you to withdraw amounts of $10, $20 or $30 at a time with minimal fees incurred and as fast a turnaround time as possible.
The key is to always play at a reputable online casino that makes our list of recommended casinos. Take a look through our reviews to find the best minimum withdrawal casinos for your gaming needs.