Online Casinos and Withdrawal Limits: A Complete Guide
Before moving forward, withdrawal limits are the maximum amount of money you can withdraw from your online casino account during a particular period of time. The majority of online casinos introduce withdrawal limits in one way or another. Those limitations might depend on payment methods, country of residence and some other factors.
Hopefully, some of you will face withdrawal limits in online casinos one day. Why? Because it would mean that you have managed to win big. However, please don’t get me wrong as I totally understand that withdrawal limits are not an appealing part of online gambling at all.
Best online casinos with appropriate withdrawal limits
(Players from United States are welcome)
Anyway, we can not avoid withdrawal limits most of the time. Moreover, these restrictions might have a great impact on your overall gambling experience. That’s why it is necessary to learn about:
why do withdrawal limits even exist
types of withdrawal limits (their diversity)
some other question you may ask (progressive jackpots, how to negotiate withdrawal limits, special withdrawal limits)
Why do online casinos set withdrawal limits
Here I would like to stress out that the reasons behind withdrawal limits are often quite legitimate ones. However, shady online casinos definitely take advantage of it. They are very keen on making you gamble more using withdrawal limits as an excuse.
So to speak, the reasons behind having withdrawal limits in legit online casinos are the following:
Anti-fraud protection. You have probably heard some stories about how bugs in casino software may cause serious financial damage to online casinos. But when you do not have to pay out a huge winning in lump and right away, you have more time to react. Namely, an online casino can thoroughly investigate a particular winning and even if it turns out that it was a fraudulent one, the casino won’t suffer a big loss.
Liquidity shortages can be devastating for small operations. The absolute majority of online casinos are considered as small business operations. What if a decent number of players win big at once (it definitely happens from time to time)? A casino would have to pay out millions of EUR which may cause them to go belly up. Although if you spread the payments throughout weeks or months, it won’t become too much of an issue.
Payment systems apply higher fees to online gambling transactions, and here we are talking about a ridiculous 3-5% for each transaction you make (both deposits and withdrawals). On the other hand, how often do we withdraw our winnings, and deposit it back after a short period of time? Let’s be honest, it is quite often the case. Hence, that way online casinos try to incentivize players to withdraw only when they are not planning to play more in the foreseeable future.
In unfair online casinos. The only reason to introduce withdrawal limits in shady online casinos is to make you lose your winning back. The idea behind is that some of you can not properly control yourselves, and the longer the money stays on your casino account, the higher chances you lose it back at some point. Unfortunately, so many casino players have proven it to be true.
Types of withdrawal limits
Withdrawal limits are getting introduced in many different ways depending on a particular online casino’s wishes. Let’s take a look at how it can be done.
Where limit threshold is set:
Maximum amount of money you can withdraw. When casino players are talking about withdrawal limits, they usually mean exactly the maximum withdrawal cap.
Minimum amount of money you can withdraw is often missed. However, basically every online casino set not only the maximum withdrawal limit but minimum as well. Usually it equals to 10-20 EUR.
Period of time or transaction approach:
Withdrawal limits are usually applied by online casinos for some period of time. For example, if the rules says you can withdraw 50,000 EUR each month, it means each month you get 50,000 EUR cap. The system works in the same way for daily and weekly limits.
Transaction based withdrawal limits are the ones when a player is only restricted regarding how much he/she can withdraw per one transaction. Such limits are usually introduced by payment systems.
When the withdrawal limit has been reached:
Based on sum. Here only the total sum of withdrawals matters. You can request as many withdrawals as you want until you do not reach your global withdrawal limit.
Based on number of transactions. Here players can not exceed some number of allowed withdrawals, and the total sum is secondary factor to transactions number.
Depending on a period of time:
Daily withdrawal limits (not all online casinos have it)
Weekly (not all online casinos have it)
Monthly (if an online casino has any withdrawal restrictions, it definitely sets at least monthly limits)
Depending on your country of residence:
Regular withdrawal limits are the same for all nations.
For some countries withdrawal limits can differ. It may happen because of regulations in particular jurisdictions. Also payment systems may have different rules for different countries.
Depending on a payment method used:
Bank transfer limits are one of the highest.
Bank cards limits are much lower in comparison to bank transfers.
E-wallets limits might be quite decent, but depends on a particular wallet at the end of the day.
Cryptocurrencies limits are the highest , they basically do not exist.
Prepaid cards limits are relatively low due to the nature of prepaid cards.
Why do withdrawal limits usually catch us off guard?
This is the case because nobody likes to read through boring terms and conditions. As a result, casino players may find out a lot of “interesting” stuff once they decide to withdraw.
Another reason is that the majority of online casino players play relatively low stakes so that withdrawal limits will never become a hurdle.
Where to learn about withdrawal limits
Every trustworthy online casino has got a clause devoted to withdrawal limits in its terms and conditions agreement (can be usually found on the bottom of the website). If it does not, stay away from such a casino since it is a huge red flag.
Special withdrawal limits
There can be situations when online casinos set very strict withdrawal limits. If this is the case, you can not withdraw once you reach the maximum cap. For example, only 100 EUR can be withdrawn, and a period of time does not get reset.
It often takes place when we are talking about winnings derived from no-deposit bonuses. So to speak, if you were granted a no-deposit bonus (free spins usually), do not expect to get all the money in case you were lucky to win big.
What are withdrawal limits on average
Withdrawal limits are usually getting reset every month (I have not come across an online casino having yearly withdrawal limits so far). Hence, I am going to talk about average monthly numbers.
No withdrawal limits casinos. This is a relatively rare thing to get, and only the biggest players in the market can boast of having it.
20,000-50,000 EUR/month is what you can expect on average. The majority of casino players will never even learn that such limits exist since it is more than enough for regular players.
10,000 EUR/month or less is not okay. Such low withdrawal limits can become an issue even for relatively low stakes players. So, do not play here as a rule of thumb.
Are withdrawal limits applied to progressive jackpots
Moreover, online casinos are not usually transparent regarding this matter, and it is not easy to find this clause in terms and conditions.
The best way to work around is to directly ask this question in live chat or via email.
Can I negotiate withdrawal limits?
If you would like to play high stakes, definitely feel free to ask for an increase of your withdrawal limits. Online casinos are usually quite happy to meet high roller players halfway. So when you see some withdrawal limits set, do not be discouraged right away.
Any withdrawal limits may be revoked if an online casino feels it would make sense in your case.
Hopefully you have acquired a better grasp on how withdrawal limits in online casinos work. It definitely would be better if we didn’t have such rules in place. Anyway, withdrawal restrictions are not going to become an issue especially if they are handled properly. And the best way to handle it is to learn about them before making a deposit.
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