Posted in Guides October 26, 2018
Why Can’t I Withdraw My Winnings? Most Common Explanations
When it comes to ending a gambling session, the best way is to request a payment. However, sometimes problems can arise that prevent you from withdrawing your winnings. In this article, we will discuss the most common issues that players face when trying to withdraw money from online casinos. Even if you have not experienced these problems before, it’s important to read on to learn how to avoid them in the future.
Wagering Requirements
One common reason for not being able to withdraw your winnings is the presence of wagering requirements. When you claim a casino bonus, you agree to meet the wagering requirements set by the casino. These requirements are usually represented as a number that is multiplied by the amount of money you transferred to your casino wallet when you claimed the bonus.
For example, if you deposit €100 and receive a 100% bonus with a 30x wagering requirement, you would need to spend at least €3,000 (regardless of the outcome of your bets) before you can withdraw any winnings. It’s important to familiarize yourself with the bonus offers and policies before depositing any money to avoid any confusion.
Payment Methods
Another issue that can prevent you from withdrawing your winnings is the availability of payment methods. Sometimes, the payment method you used to make a deposit may not be available for withdrawals. It is important to check the list of supported payment services before choosing a casino and making a deposit.
If your preferred payment method is not available for withdrawals, you may need to create an account with a different payment service. This may result in additional fees for transferring money from one service to another, but at least you will be able to get your money back. However, in some cases, particularly in small or unregulated casinos, if there is no real human support available and only an automated bot, you may risk losing your money if you are unable to create the necessary accounts.
Withdrawal Limits
Withdrawals, like deposits, often have minimum and maximum limits. While withdrawal limits below €5 or €10 are unlikely to be an issue for most players, strict upper limits can cause problems. Imagine winning a €100,000 jackpot only to find out that you can only withdraw €5,000 per month. It could take months or even years to withdraw the full amount. In some cases, regulatory authorities have stepped in to address this issue and forced companies to change their rules to protect consumers and allow for faster withdrawals.
Identity Verification
Identity verification is another important factor in the withdrawal process. Casinos are required to prevent money laundering and other illegal activities, so they may ask for your identification and proof of residency before allowing you to withdraw your winnings. This verification process can occur during registration or when you attempt to make a withdrawal.
To satisfy the identity verification requirements, you may be asked to provide a photo of your national ID, passport, or driver’s license, along with a clear selfie. Additionally, you may need to provide a utility bill with your name and address that matches the information you provided earlier. While this process may seem intrusive, it is necessary to ensure the safety and legality of online gambling. Rest assured that the information you provide is kept private and only used for verification purposes.
