One thing to note is that the options for depositing are usually different from the options to withdraw on a site. Generally speaking, there will be fewer choices for getting your money back from the online casino. While this sounds sinister, it’s generally more a function of how payment providers work. For instance, most credit cards focus on paying out, not receiving cash.
So, don’t be alarmed. Online casinos will get you your money. It may just come from a different source.
One other thing is that there are limits on how much money you can deposit and withdraw in a given time period. Unlike land-based casinos, which are basically cash machines, online casinos will specify the parameters of the transactions.
For deposits, the minimum is $10 per transaction. This amount is the industry standard and is true for almost every deposit option on every active website.
Maximums can vary from a few hundred dollars to thousands. Though each player begins at a specific amount, it may be possible to get a higher deposit maximum by communicating with customer support.
Withdrawals do not tend to have maximums.
However, sites will often require a minimum size for deposits. So, if you’re nursing less than $10-$20 in your account, it may not be possible to get the money out through conventional means.
Bonuses and cash-out restrictions
Before you get too excited about moving money onto these PA sites, take a moment to check for any promotions. You can look here at PlayPennsylvania or the site’s promotions page itself. Either way, there are often deals that can add extra money to your account. Sometimes, you can end up with twice as much as you initially deposited.
Depending on the promotion, there may or may not be a promo code. If there is, simply enter it into the designated box —every site has one — as you make your deposit. Unfortunately, getting the free money back out is not always as easy. Most promotions come with cash-out restrictions known as playthrough or wagering requirements.
Playthrough requirements are a specified multiple of the bonus amount that you must “play through” to make the funds eligible for withdrawal. Until you do so, there’s no way to put the casino’s money in your pocket.
For example, let’s imagine that an online casino has a promotion to match 50% of your deposit, up to $100, and the bonus has a 20x playthrough requirement. So, intending to take full advantage, you deposit $200 and find that you now have $300 in your account.
That’s terrific, and you can bet freely with the entire amount. However, because you have $100 in bonus money, you must now wager $2,000 (20 x $100) in order to move the $100 into your withdrawable balance. While that sounds daunting, bear in mind that the $2,000 wagered does not mean that you must lose $2,000. You could very well break even or be a winner, and it would still release.
One other thing to keep in mind is the timing of the bonus. Pay special attention to how long you have to redeem the bonus. In some rare cases, there’s no real deadline, and you can take your time. However, most of the time, there will be a time limit that is usually a week. After that, any money not redeemed will be returned to the site. From the casino’s point of view, nothing would be better than you going into a wagering frenzy, trying to hit the requirement.
How to cash out winnings?
So, you’ve hit that rush, and you’re ready to pull some of that sweet casino money out. Great! Now let’s head directly to the cashier.
Look for a tab or button that should take you to the withdrawal screen. After that, it should be fairly obvious what to do.
The casino will inform you about the portion, be it full or partial, of your account that you may withdraw. If you have bonuses without having cleared the playthrough requirement, the casino or sportsbook will specify that these funds and potentially, the winnings from them are not available for release.
The site may also specify how you will receive the funds. Although it’s nice to have a choice, these sites sometimes have policies and procedures that they follow.
Make sure to keep an eye on bank accounts and the mail if you’re expecting a payout. Though it’s far from every casino’s fault, mistakes and mishaps do occur.
Common withdrawal options
Please note that some casinos may have some identification verifications or forms to fill out when you deposit, withdraw or both. Though these processes may be tiresome, they are necessary to ensure that the casino remains in compliance with state laws and regulations.
Without doing so, they could face fines or threats to their licensure. Neither of those options are good for anyone.
- Check: Funny as it would seem, most online casinos will send a check to your house. It is a rather perfunctory way to get your money to you, but it works. Checks usually take a week or two to arrive.
- ACH or e-check:If you used an electronic check to deposit, the casino might send money back to you the same way. This method is a bit less common, but check your casino’s withdrawals page to confirm it as a method.
- PayPal: In a similar vein, if you used PayPal for your deposits, you may be able to receive money that way as well. It boils down to what casinos are willing to do. Some of them have only limited options for withdrawals, and it doesn’t matter what deposit option you choose. PayPal might also be problematic due to transaction fees.
- Branded prepaid card: Again, this one depends on your deposit method. If you already used a prepaid card to fund your account, you may be able to receive a prepaid card when you cash out. These cards are redeemable for cash, but similar to PayPal, there may be some unwanted transaction fees.
- Cash at the cage: Finally, it is possible to withdraw money from your account directly at the casino cage. Most casinos will likely accept this method no matter which manner of deposit you elected. However, the casino may request that you notify them 24 hours or more in advance if you are planning to withdraw at the cage. Make sure to read the fine print and instructions.
Above all else, remember that online casinos and gambling sites are supposed to be fun. Though banking can be a bit of a drag, it’s often not as painful as it seems.