Most of us will dream of winning big once in our lifetime. The only hurdle we’d have to get over then is a withdrawal limit. Whether we like it or not most online casinos have them and unfortunately they are here to stay. Online casino withdrawal limits and maximum cash outs are every player's worst nightmare but if you know about them before you play this may just help you in the future. So, today we’re going to discuss casino payouts and if there is a way to avoid them.
What Are Online Casino Withdrawal Limits?
In short; it is a limit on how much you can withdraw in a single transaction. Casino cash out rules are perfectly normal and you’ll find them in most casinos, but not all. Some casinos will have absolutely zero withdrawal limits which means anything you win can be withdrawn in one lump sum.
However, soon we’re going to show you what happens if you win big and you’ve stumbled across a casino that does have withdrawal limits and what happens when you win a jackpot at a casino. But first things first one of the most important things to remember is that you should check a casino's withdrawal limits before you play. This way if you know that you’re going to be limited to a small withdrawal amount per transaction, it’ll avoid any disappointment when you finally get that big hit you dreamed of.
You should check the withdrawal limits at every single casino you play in because they can vary from casino to casino and it’ll avoid disappointment further down the line.
Since online casino payouts can vary so much you should also know that casinos can also set different kind of limits which include:
- Daily Limits
- Weekly Limits
- Monthly Limits
This means there will be a maximum amount per duration and once you exceed that amount you will need to wait until either the next day, week or month to make another withdrawal. How much can you cash out at a casino will depend entirely on this limit.
Why Do Casinos Have Withdrawal Limits?
Obviously the best option is to find a casino that has high or no withdrawal limits but there are a number of reasons why these limits are in place. One of these reasons is for the casino's own financial stability, if you and hundreds of other players have just withdrawn huge amounts of cash they’re going to need to make sure that all their funds don't become depleted which may stop them from covering new bets.
Daily, weekly or monthly withdrawal limits allows the casino time for other customers to place bets to allow the casino to recover their losses. But what you should remember is that a large reputable casino should have enough cash flow and a financial backup so if the casino you’re playing at has really low withdrawal limits, it may be time to try somewhere else. You should always try to withdraw your hard earnings as quickly as you can, in as few transactions as possible.
Withdrawing your winnings as quickly as possible and in as few transactions as possible should be your priority.
Another reason may be to protect you as a player. Just imagine winning a massive sum of money, it could be easy to lose your mind a bit and want to blow it all to try and win more. Casinos may believe that by slowing down your withdrawal over multiple transactions it will allow you the time to think clearer.
Fraud could be the third reason why casinos have withdrawal limits. Imagine someone hacked your account and there was a massive balance, at least if there was a withdrawal limit the hacker could not take all of your money and may give you the time you need to get access back to your account.
Lastly, there could be one other reason and that’s stalling tactics. A reputable casino will not try and stall your withdrawals but unfortunately there will always be casinos that try and stall your withdrawals in the hope that you will reverse the money left in your account instead of withdrawing it. Can a casino take your winnings? Some casinos will try to find ways to get out of paying you but if you’ve picked a casino that has a good reputation you should not get this problem. Just make sure you do your homework before you play.
Where Can I Find a Casino's Withdrawal Limit?
Before registering at any online casino you should always read their terms and conditions and this is where you will find their withdrawal limits. You should only go ahead and register once you are happy with these terms.
In the terms the casino will set out their withdrawal limits which will vary from place to place but should show you the following information:
- Amount Limit - This will be the maximum you are allowed to withdraw in a single transaction
- Time Limit - This is how often you can make a withdrawal of the maximum amount (as specified above)
- Time and Amount Limit - For example you can withdraw a maximum of $10,000 every week
This means if you were to win $50,000 you would need to submit five separate withdrawals, once a week for the amount of $10,000 each and this would be the quickest way to receive your casino payout.
Minimum and Maximum Amounts Cashout Limits
This is why it is essential that you always read the terms and conditions first. Once you register at a casino or accept a bonus you are agreeing that you have read the t’s & c’s. If you breach these terms there is no going back, you won’t be able to say you didn’t know if they’re in black and white. So remember, reading the small print might just be key to your success.
How much you can cash out at a casino will entirely depend on the individual casino. You may be lucky to stumble across one that has no limits and there are more and more casinos either increasing their limits or taking them away altogether. What you should remember is that in some countries you will need to pay taxes on your winnings too and it is your responsibility to ensure you know the laws around this. For a more in depth explanation of this you should read our blog about paying slot taxes in slot winnings.
How Do Casinos Pay Out Large Sums of Money?
This entirely depends on the individual casino and their terms and conditions. Now you’re probably wondering what happens when you win a jackpot at a casino and we are here to tell you that we have some good news. Some providers like Microgaming for example will always pay out their jackpots in one lump sum.
So, if you’re asking yourself how do casinos pay out large sums of money this is how. If you win their Mega Moolah Jackpot which can often be a multi-million dollar figure you will be paid out by Microgaming in one big fat cheque!
If you win a Microgaming jackpot you will receive your winnings in one big fat lump sum.
But, it’s not uncommon for a reputable casino to pay out a massive jackpot sum regardless of their withdrawal limits. So, if you win a million dollars at a reputable casino you may not have to wait around withdrawing $10,000 a time every week. What you should do if you find yourself in this situation is liaise with the casino who may be able to come to some kind of agreement with you. Remember that this is not set in stone and they are not obliged to.
Does My Location Impact My Withdrawal Limit?
In simple terms, yes it can. There is no definitive answer here though as every casino is different but more importantly every jurisdiction will have different rules too. The impact a location has on a withdrawal limit can depend on the relevant license holder but when it comes to these limits it will depend more on what payment method has been used which brings us nicely on to the next question you may have.
Does My Deposit Method Impact My Withdrawal Limit?
Yes. Every deposit method will be different and this kind of information can usually be found in the banking section of the casino. If they don’t have this section then again you should refer to the casinos terms and conditions. If you still can’t find this information then you should check with customer support before making a deposit.
Some deposit methods will have smaller limits and bigger limits than others so it is vital that you check these amounts first. If you are a high roller who may be looking at making multiple large withdrawals on a regular basis you may want to look at our casino payment methods for more information.
Withdrawing back to an e-wallet such as Neteller and Skrill can reduce the amount you are able to withdraw in a single transaction. However, if you were to use a Bank Account or Bitcoin this could result in unlimited time related withdrawals.
Fastest Online Casino Withdrawals
While all these withdrawal limits may seem daunting they need not be and you can still get your money fast, don’t worry! What’s important to remember as we come to the end of this blog is these withdrawal limits are usually set in the thousands and tens of thousands and you may never ever have to worry about them.
Chances are that when you’re making regular withdrawals they’ll go through in one lump sum and you’re probably going to want your money fast. Going back a few years ago getting your money quick was unheard of but now same day withdrawals online casinos are available.
In fact more and more casinos who are processing their withdrawals instantly or in just a couple of hours are sprouting up. If you want your withdrawal within 24 hours you should search our list of online casinos and you’re sure to find some.
Pay N Play Casinos may also be better suited for you. In these casinos you do not need to register an account and verification happens when you make a deposit. This means when you request a casino payout you will get your money, instantly.
There are casinos that still have slower pending times, sometimes this can even be between 3-5 days so be sure that you are picking the casino that is right for you. We list this information on all of our casino review pages but you will also find this information in the casinos terms and conditions too.
Can You Avoid Withdrawal Limits?
Yes you can (sometimes)! We've already briefly mentioned that in fact some casinos have no withdrawal limits at all, this means regardless of how much you win you’ll be able to withdraw it in one lump sum. If you are a high roller, withdrawal limits can be your worst nightmare so finding a casino that does not apply these limits can be detrimental to your success. Just remember the individual payment method limits we mentioned just now too.
So to summarise, withdrawal limits are here to stay and you need to know what they are in every casino you play in. Winning big is probably every player's dream come true, make sure you know the facts about withdrawal limits so if that dream ever becomes a reality it’s not going to be crushed in seconds because you didn’t check the T&C’s.