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Lifestyle

Why is Fast Withdrawal So Important for Online Casinos?

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One of the most important factors players often consider before they join an online casino is how fast the operator of that site processes withdrawals.

Players don’t like waiting around to get their hands on their winnings and will specifically look for fast withdrawal casinos and avoid signing up to sites that are notorious for taking too long.

Here is a closer look at why fast withdrawal times are so important for online casinos today.

How long does an online casino operator take to process the average withdrawal?

Most online casino operators today process players’ withdrawals within 24 hours, but it can take up to 72 hours at most to be processed.

The length of time it takes for your withdrawal to be processed depends on several factors,;how much money you are trying to withdraw, which withdrawal method you are using, the time and day you started the withdrawal process, and which online casino you are trying to withdraw from.

Some online casinos are much quicker than others when it comes to withdrawal times, and players today prefer signing up to sites that are quick at processing withdrawals.

If you just won a £1,000,000 progressive jackpot, it would take much longer to withdraw than trying to cash out just £20 on any site.

In this case, the casino operator may want to get in touch with you when trying to withdraw large amounts like this to discuss the quickest, cheapest, safest, and easiest options with you.

You may find that your withdrawal doesn’t take long to process when you start the process on a Monday morning around 10 am, compared to how long it might take if you started the withdrawal at, say, 6 pm on a Sunday evening.

If you decide to receive your winnings via bank cheque (that’s right, some online casinos still accept cheques for deposits and will pay out winnings via cheques in the post), the average withdrawal time will take much longer than when using debit cards or eWallets (aka digital wallets) like PayPal, Skrill, or Neteller.

Are there any instant withdrawal casinos?

Yes. There are many instant withdrawal casinos. However, when online casinos use the term ‘instant withdrawal,’ it still very rarely means in the blink of an eye. An instant withdrawal can take anywhere from five to ten minutes up to usually no longer than an hour or two.

At most instant withdrawal casino sites, you will generally find that you will receive your winnings within an hour since you started the withdrawal, which is pretty impressive.

Today’s most trusted online casinos, which are known for processing withdrawals in above-average time, are typically licensed and regulated by mid- to top-tier online gambling licensing authorities, such as the Gambling Commission in the United Kingdom.

What are the fastest withdrawal methods to use at online casinos?

If you have found a globally renowned online casino that’s quick at cashing out your winnings, remember to use one of the following reliable withdrawal methods to ensure you get your hands on your winnings in lightning-fast times:

  • Debit cards (e.g., Visa and Mastercard)
  • eWallets (e.g., PayPal, Skrill, Neteller)
  • Bank transfers (e.g., instant/direct bank transfer methods like Trustly)

To deposit and withdraw at any UK-licensed online casino, you must be at least 18 years old and be a fully registered member of the site you wish to play at. Cashing out your winnings is a wise investment instead of leaving it all in your account, which can be too tempting for some players not to spend.

Important things to remember before signing up to an online casino

After you have signed up to a UK online casino, deposited money for the first time, and played your favourite games, you may land a few decent wins and decide you want to withdraw.

Before you can withdraw, you must prove that you are who you say you are and that you are of legal age. It’s known as the KYC (Know Your Customer) process and must be completed.

In other words, you must get your account details fully verified by the casino’s verification department before your withdrawal can be processed.

The best thing to do to speed things up is to have a scanned colour copy of your ID (such as a copy of your driver’s license or passport) and a proof of address (can be a bank statement or gas/electricity bill, for example) ready to send to the casino when you sign up.

You can upload the documents when logged into your account, and it shouldn’t take any longer than 48 hours for them to verify your documents (in most cases, it takes less than an hour or two).

As soon as your documents have been verified, any temporary restrictions that were placed on your account preventing you from withdrawing will now be lifted, meaning your withdrawal can be processed.

Final thoughts

The other important thing to remember when signing up to a fast/instant withdrawal online casino licensed by the UKGC is to manually set as many responsible/safer gambling tools as possible. Setting limits keeps things safe and fun and ensures you remain within your budget.

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