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Withdrawing money

Once you have won money on the casinos, online bingo or online poker, the big question is: How can I get my winnings paid from an online casino or online poker room? This initially depends on the options each casino or online poker room can offer their customers. Next, the way you want your money to be paid will depend on a combination of how long you are willing to wait for it and how much you are willing to pay in charges. These two factors often go together in that the higher the charges you are prepared to pay, the quicker you get your money.

1. Review of the options for withdrawing money once you have won.

You have the following options:

  • Bank draft/cashiers cheque
  • Credit card refund
  • Overnight Express/FedEx/TNT
  • Wiretransfer
  • Neteller

Bank draft/cashiers cheque
All casinos provide this option. This is a standard cheque that is sent by post.

Pros:
The biggest advantage of this withdrawal option is that it is usually free. If it is not free, the charges to be paid to the casino are often just 1 euro. Several British banks allow you to deposit several cheques at a time for a one-off charge. This is probably your preferred withdrawal method!!!

Cons:
Unfortunately, it can take several weeks before you get your money. You therefore have to be patient. Some of the cheques sent by the casinos are cheques from other countries. These are called “cheques drawn in a third country”. These types of cheques are relatively expensive to cash.

Credit card refund
The first time you put money into your casino account, you will probably use a credit card. By using a “credit card refund”, the opposite happens in that the casino puts money back onto your credit card.

Pros:
If you ask for a credit card refund, it often only takes a couple of days before the money is paid onto you card.

Cons:
The only disadvantage of the Credit card refund method is that it is often only the amount you have paid into your casino account that you can withdraw. Any surplus amount has to be sent another way, e.g a bank draft.

Overnight Express/FedEx/TNT
Usually a standard cheque. It is just a lot faster in that the money is sent by courier.

Pros:
This is extremely fast and you recieve the money within a week or a couple of days.

Cons:
It is often very expensive as casinos demand a charge (35 euro). There are however individual casinos that provide this withdrawal method free of charge once a month.
Some of the cheques sent by the casinos are cheques from other countries. These are called “cheques drawn in a third country”. These types of cheques are relatively expensive to cash.

Wiretransfer
A "wiretransfer" is the same as a bank transfer.

Pros:
It often only takes a couple of days to withdraw your money.

Cons:
The majority of casinos demand high charges for this type of service. But there are some that do it for free. Charges tend to be between €0 - €50.
You can also pay a handling charge to your British bank. These charges are usually between 5 euro to 40 euro. So as a minimum you will end up paying 5 euro if the casino does not demand any charges. That’s why wiretransfers are very expensive!!!

Neteller

Pros:
When you use Neteller the most important benefit is that you get your money almost instantly. Sometimes you can also get an extra Neteller bonus on top.

Cons:
The cons are if you don’t want an extra neteller bonus. Some people do not want a bonus for various reasons. You can avoid this by informing the online casino that you do not want a bonus.

Online-gambling.co.uk recommends

For all those who do a lot of gambling on the Internet, online-gambling.co.uk recommends setting up a neteller account as quickly as possible. You will save a lot of money in charges and receive your winnings quicker than from other payment options.

Edited by Henrik Jørgensen



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