Different online casinos pay out at different speeds
For those who have been playing in online casinos for quite some time, they will already know that different online casinos pay out at different rates. Generally, at reputable online casinos, this is not a problem. However, it is important to be aware of the speed of the withdrawals from online casinos.
Online casinos publish the length of time it will take for players to receive payouts and withdrawals. The information can be found in the online casino Terms and Conditions. Players are once again reminded that it is important to read the online casino Terms and Conditions before signing up with any given online casino.
Payouts and withdrawals
Some online casinos pride themselves on fast payouts and withdrawals, and others have no plans to pay any cash out quickly, and rather keep somewhat quiet about their official withdrawal policies.
One might ask why an online casino would not want their players to be able to withdraw their winnings quickly and promptly. See Gambling speed. It is not that the online casinos are denying the player their money, but simply that they take a long time to process it, or have fine print that allows them to take a long time to deal with the withdrawals.
There are a couple of reasons that online casinos prefer to hold onto a players’ money. Firstly, if the online casino has a larger positive balance in their bank account, their business will look like it is doing better. Secondly, and the more likely reason that online casinos are sometimes slotting with payouts is that the online casino is likely to make more money if the player is sitting with funds in their online casino account.
The reason for this is that once the money is withdrawn, it is less likely that the player will redeposit the same money, and use it to gamble online. However, if the funds are still sitting in the players online casino account, there is more chance that the player will use their winnings to play in the online casino, and since the payout percentage is always in the online casino’s favor, it is possible that the player will end up losing at least some of their winnings back to the casino. The longer the funds sit in the player’s account, the more likely the player will use the money in the online casino.
There are times when there are good, and explainable reasons that online casinos are slow with payouts, such as somewhat frustrating political situations, however, players still need to keep an eye on things and make sure that they do get paid out their winnings.
Again, remember to check that the online casino you wish to play in allows timely withdrawals.