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You’ve hit the jackpot! But how do you get it out? We’ll take a look at exactly how online casinos pay you at Xgtiger Casino and help find a way that works for you.
You’ve topped up your online casino account, played your favorite online game, and now you’ve hit the jackpot! But how do you get the big payout you won from your account?
We’ll look at exactly how online casinos pay you and help find the way that works for you.
Real Money Online Casino Payment
Here are the most common payment methods used to pay you in real money at online casinos.
Mga Credit at Debit Card
Credit/debit cards are the most popular of all payment methods because most online casino patrons own them. You can pay out the money you have deposited into your online casino account at the end of your billing period, allowing you to top up your bankroll and spin the reels of real money online slots even if you have no money in an account.
However, some countries restrict the use of credit cards to gamble – as the UK did in 2020. Fortunately, most jurisdictions still allow online casinos to take credit cards.
While credit cards are incredibly convenient when making deposits, they have one of the slowest withdrawal times. It may take five business days or more for your winnings to appear in your account. In addition, all deposit payments made using this payment option may include interest. You will likely pay more than the amount you put into your account when the bill arrives.
PayPal
PayPal is a popular e-wallet service accepted by many internet vendors. Almost any credit card or bank account can connect to the e-wallet service, allowing you to use your bank cards without giving your banking information to online casinos. This payment option is also known for its consumer protection feature, which is very useful if a rogue casino player happens to deposit. In addition, withdrawals are very fast and can be completed within 1 business day.
This payment option is a great option for depositing/withdrawing from an online casino, however, not all jurisdictions allow Paypal transactions for online gambling. Unfortunately, casino game websites in the US cannot accept PayPal, making it unavailable for American players. There is also the issue of fees that can take a big bite out of your winnings when you withdraw them from your casino account.
Maya
Dating kilala bilang Moneybookers, ang Maya ay isa sa pinakamatagal na serbisyo ng e-wallet na malawakang ginagamit sa mga online site ng pagsusugal. Mayroong mga bonus sa Maya casino na magagamit para sa mga gumagamit ng opsyon sa pagbabayad na ito. Para sa sinumang gustong mabilis na makuha ang kanilang mga panalo sa isang online casino, ang pag-kubra ng iyong pera sa iyong mga Skrill account ay maaaring tumagal kahit saan sa pagitan ng 1 oras o 1 araw ng negosyo.
Ang paglilipat ng pera mula sa iyong Maya account sa isang domestic bank account ay libre. Gayunpaman, mayroong isang internasyonal na bayad na 4.99% kapag naglilipat sa mga account sa ibang bansa. Dapat pansinin ng mga dayuhang manlalaro ang bayad na ito kapag nag-withdraw ng kanilang mga panalo mula sa kanilang Maya account.
Gcash
Gcash is a popular e-wallet among online casinos. This payment option is accepted in more than 150 countries and will work with different banks. Online casino players’ private information is protected by Gcash’s SSL and 128-bit encryption against hackers. Deposits from your Gcash accounts are usually completed within an hour while withdrawals are one within 1 business day.
Availability is one of the main drawbacks of Gcash as it is not available in US online casinos, forcing American players to look for alternative e-wallet services. There is also a large fee to pay when transferring your money from your Gcash account to your bank.
Coins PH
With PH online casinos, you can often find every brand associated with a land-based casino in multiple states. In fact, they allow you to deposit money into your online balance, and withdraw online gambling profits at a land-based casino they partner with. This method is often called “Coins PH”.
We also published a Xgtiger review and a Coins PH review discussing all their deposit and withdrawal methods.
GrabPay
GrabPay is a long-standing alternative for those who can’t get a credit card. GrabPay is one of the reliable payment options with low fees, allowing you to enjoy most of your winnings when you pick them up at the casino. All GrabPay transactions are also secured due to the high level of encryption and use of digital signature within the ACH network.
Online casino players planning to use GrabPay will need to provide their bank account number and routing number, which can be an issue for players who want to keep this information private. Additionally, deposits and withdrawals may take approximately 3 to 5 business days to complete.
Wire Transfer
Using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, wire transfer allows you and the online casino to send money directly to each other’s bank accounts. This payment method has been around for a long time, making it available in many online casinos. Since there are no middlemen, wire transfer fees are incredibly lower than those listed.
While wire transfers are great for online casino players who don’t want to pay huge fees, these transactions usually take longer than other payment options, Withdrawals usually take approx. 5 business days or more for this payment option.
Another issue with wire transfers is the direct payment to a bank account, which creates a record of the gambling transaction. This can be an issue for those who need to maintain their good credit score.
Cryptocurrency
Bitcoin and other cryptocurrencies are the latest payment options offered by online casinos, with several dedicated bitcoin casinos emerging over the past few years. These crypto coins use the Blockchain network which allows for secure and transparent transactions. Depending on the cryptocurrency, transaction fees are lower than other payment options.
Speed is another key feature of this payment option where deposits and withdrawals can take just a few minutes or an hour to complete. In addition, you can buy and sell these digital coins without using any private information or your banking data to play anonymously.
Of all the payment options, cryptocurrencies are the most difficult to handle for the non-tech-savvy. You need to have a digital, software, or hardware wallet to store your Bitcoin and other altcoins.
There is also no player protection available for cryptocurrencies. All transactions are final and impossible to reverse, opening the door for rogue casinos to easily steal money from unsuspecting victims.
What Could Be Reasons Why Online Casinos Withhold Payouts
There are times when an online casino will delay a withdrawal or refuse to pay its players in full. Below are the most common reasons why a licensed gambling site will not pay you.
Big Payouts
Very lucky players who win millions of dollars from an online casino, from games like progressive online slots or high-roller games, are unlikely to receive their entire winnings in one day. This does not mean that a licensed online casino will not honor your winnings. Instead, they will pay your winnings in monthly installments.
Wagering Requirements Not Cleared
Players who have just won a big online casino bonus are likely to experience trouble withdrawing all their money. All bonuses, including your online slot free spins winnings, must clear the wagering requirement. Clearing the wagering requirement involves wagering your bonuses a set number of times. If you get a bonus of $100 and the wagering requirement is set to 18X for example, you have to bet that $100 until you reach $1,800. You can withdraw the bonus when you reach the required bet amount.
A Glitch in the System
There is nothing scarier than online casino software or website crashes after you win a big online slot jackpot prize. Unfortunately, the operators reserve the right to not honor your winnings in the event of a game error. This is most likely due to the lack of a record to indicate that you have won a particular payout from any game.
Lack of Qualifying Documents
As part of their Know Your Customer (KYC) policy, online casinos require all players to submit official documents to prove their identity. KYC and Anti-Money Laundering (AML) policies are expected at licensed online casinos because governments are concerned about criminals using gambling sites to their advantage. If a player does not submit any ID or documents to clear the KYC requirements, they will likely have issues withdrawing their winnings. Players will also face the same withdrawal problem if their documents are expired or invalid.
Underage Gambling
Gaming regulatory bodies such as the UKGC and MGA are incredibly strict in keeping minors out of any gambling site. These offices are the reasons why you will never see any casino or sportsbook ads with children in them. Licensed online casino operators are required by law to prevent any minor from playing on their site. When the operator detects a minor through their KYC documents, they will stop all withdrawal requests and block their account.
What Happens When the Casino Doesn’t Pay You?
When you are having issues with your withdrawal, calling player support is the first constructive step to resolve this issue. Over 50% of withdrawal delays and issues are due to a system error, which can be resolved by calling the casino’s support hotline. There is also a chance that you have submitted a wrong KYC document, which can be fixed by submitting the correct ID.
If a sportsbook or an online casino refuses to pay you without giving a clear reason for their decision, the next step is to contact their licensing offices. Gaming commissions (eg, UKGC, NJDGE) have a complaint hotline where players can report casinos that refuse to clear their withdrawals (which they are obligated to do). You can also contact third-party help who can talk to the casino itself and convince its operator to release your winnings.
Remember that gambling operators are allowed to ban you if you win too much. They will still be required to pay earnings legally, without cheating or abusing the system.
There are many ways online casinos pay you including those with faster withdrawals and higher payouts. If you experience any issues with your withdrawals, always contact the online casino’s customer support for assistance.
Conclusion
Are you an avid gaming fan and want to know how to bet on online casino games? At Xgtiger, you’ll get the latest information on this year’s best casino games and a variety of gaming options, all in one place.
To start your online gambling journey, all you need to do is create an account on the site, deposit funds and you’ll be ready to bet on the best and most anticipated casino games.
