Congrats! You finally have won on online roulette and you are ready to cashout your winnings. What’s next? It is common for online casinos to feature dozens of different withdrawals methods. In such a large pool of options, it is always advisable to learn all the pros and cons of each and every option before you decide the one you are going to use. Among the most popular withdrawal methods in online casinos are ewallets such as PayPal, Skrill and Neteller, Visa and MasterCard, as well as crypto such as Bitcoin. To provide you with a clearer picture of which methods are best used to cash out your casino winnings, we highlight the major pros and cons of each below.
Credit cards are a common online transacting method trusted by a large amount of users and casino players. Using a creditcard to deposit money atan online casino online works in a much similar way as using your card when transacting at other sites such as eBay and Amazon, among others. All that is required is to submit the relevant card information such as your card account number, the name registered on the card, expiry date, the CCV number and personal information such as your residential address. There are two basic choices when using debit or credit cards,with Visa card being the more popular as opposed to MasterCard. The main disadvantage of MasterCard is that it does not currently permit Canadian players to take withdraw their winnings via this method. Once the online casino completes the payment processing, you will be ready to cash out in an average 1 to 2 days depending on the casino and method, you opt for.
E-wallets, or electric wallets, are extremely popular among casino players as they allow for secure and easy transacting at internet casinos without the need to supply any credit card information. E-wallets are in fact becoming more popular compared to credit cards,as they are more flexibility, permitting users to include funds through numerous resources including bank transfers. Well-known e-Wallet choices include Instadebit, PayPal, iDebit, Neteller and Skrill. Instadebit is designed specifically for Canadian gamers, while PayPal which is undoubtedly the most famous online transaction method on the planet. iDebit is an emerging brand within the Canadian marketplace that simplifies banking at online casinos. Neteller, on the other hand, is a well-known withdrawal technique worldwide however, is not available to all gamblers from different regions. Skrill was previously referred to as Moneybookers, and is a well-known E-wallet option as well.
Instant banking is similar to direct bank wire transfers, though is more instantaneous. Instant banking houses allow you to link your bank account directly to your online casino account and it functions for both depositing money and cashing out winnings. Transaction waiting intervals are also timelier than utilizing e-Wallets. Well-known instant banking methods include E-check and UseMyFunds. Using bank wire transfers for transacting online is yet a popular financial method that is supported by almost all casino operators. This method, however, can be a bit more admin-intensive and payment processing times maybe a little longer. The advantage, however, for using bank wire transfers,is that you do not have to share an excessive amount of your financial information with online casinos.
Pre-paid debit credit cards are also extremely popular, particularly among those that do not have a credit card or prefer to not use their own credit card. Quite simply, pre-paid debit credit cards can be bought at various shops that are pre-installed with a specific amount of cash. The online casino then requests you to enter the security numbers that come with the card. This method proves to popular as you do not have to provide any banking or credit card information to the casino, and thereby rendering it as completely secure and safe. You should note though that pre-paid cards cannot be used to receive casino winnings in most cases, as these are geared towards depositing mainly.
Cashing out your winnings can vary depending on the method you use. Some are quicker in processing times like e-wallets, while others take longer such as bank wire transfers. Some methods will work perfectly fine in depositing like MasterCard and pre-paid cards, but depending on your regional location you may not be able to withdraw your winnings using the same platform.