This is one of the first things that many players want to know at when they play at an online casino. When winnings come my way, how do I collect them? We have looked into the most popular ways that are out there, as well as some of the less common ways. Before we cover collecting the winnings, we need to go over the winning process first.
Playing the Games
There are lots of different online casinos on the market at the moment. The number consistently grows over time, and it’s not likely to slow down at any point in the future. With lots of sites appearing by the day, it can be difficult for players to find the right one. This is why many people use online portals to find the best sites to play at, such as www.onlinegamblers.com, in order to make sure they pick a top-class site.
Once the site is chosen, then it’s time for players to start playing. There are two different types of prizes that can be won. Standard payouts and progressive jackpot payouts. The standard payouts are paid by the casino itself, while progressive jackpot payouts are paid by the developer of the software. In terms of how you collect your winnings, it doesn’t make a huge difference to the method that you use, but it can change how much you can withdraw.
Basically, standard payouts will likely have a withdrawal limit attached to them by the casino. So, only a certain amount can be withdrawn over a certain period of time. However, progressive payouts will normally avoid these limits, and they can be withdrawn instantly. This is often due to just how large the payouts are, and how much tax will be due on these winnings.
Collecting with Bank
This is one of the most popular ways to make a withdrawal, even in the modern era. This can cover bank transfers, but it can also cover debit cards. It allows players the ability to withdraw their winnings without having to worry about then making another transfer afterward. While bank transfers and debit card transfers do tend to take a little bit longer than other methods, they do give players instant access to their funds once the transfer has been made.
Of course, in terms of security, bank transfers are some of the most secure methods of payment out there. It goes without saying that banks don’t want the money that they handle, to be vulnerable. As such, the payment protections are some of the most robust within the financial industry.
This is one of the fastest-growing methods of payment that’s offered at online casinos. E-wallets offer players two main things. Speed and security. Using an e-wallet to make a withdrawal of your winnings, will usually be processed within an hour. This is significantly faster than using a bank transfer or debit card, which will often take up to 5 business days.
While PayPal is obviously the most famous e-wallet, there are a number of other options out there. In fact, some of the other options tend to offer much better fees than PayPal. It means that players don’t have to worry about any issues if the site they play at is located overseas. With smaller fees in place, it means that more of the winnings will go to the player, rather than the e-wallet.
The levels of security that are in place with e-wallets, has much improved in recent years as well. While they may have had a bad reputation in the past, this isn’t the case in the modern world. E-wallets have security that is on a par with what banks have. It means that you’re unlikely to have any issues when making a withdrawal with an e-wallet. In addition to this, a lot of e-wallets will also have fraud protection in place, which will allow you to claim back any money that is stolen.
This is something that many people are unaware that they can use to collect their winnings. However, with so many sites on the internet embracing cryptocurrency, it’s not a shock that it’s starting to be offered at online casinos. One of the biggest reasons that online casinos have started allowing crypto to be used for withdrawals, is that online casinos are known for being at the forefront of innovation.
It’s long been known that online casinos look to use technology as much as possible. Whether it’s providing video streams for live dealer games or using HTML5 to provide increased levels of compatibility, online casinos have never been shy about trying to be innovative. Cryptocurrencies are just another example of the innovation that online casinos attempt to provide.
Obviously, Bitcoin is the most popular payment method for cryptos at the moment. However, as more cryptocurrencies come onto the market, with some offering greater levels of functionality than Bitcoin, more are being offered by online casinos. Players can currently use everything from Bitcoin to Dash, to make deposits and withdrawals, depending on the site that you’re playing at. It means there’s a wide range of choices available, which gives players the opportunity to increase their holding with minimal effort.
What a lot of people don’t understand about crypto is that in terms of security, it’s actually very secure. However, it is important to make sure that you keep your address details and keys safe. If you don’t do this, then you could be the victim of theft. You should also make sure to enter the right address when trying to withdraw your crypto, because if you use the wrong one, then you will lose your crypto forever.
This is one of the least popular methods at the moment, but over time it’s likely to become one of the more popular ways to withdraw.