In this article, we'll cover all the essentials associated with casino bonuses - from wagering requirements and game eligibility to the most profitable offers. We'll also include some tips to help you get the most out of your rewards.
Finally, we'll walk you through the withdrawal process, explaining how the different payment methods work. You'll also learn about withdrawal limits, processing times, and how to avoid common pitfalls.
Introduction to Withdrawal of Bonus Winnings
Bonuses are one of the best perks that online gambling sites offer their players. But as lucrative as these deals sound, they also come with specific T&Cs and limitations.
That's why paying attention to factors such as wagering requirements, withdrawal limits, payment methods, and time limits is very important.
By understanding the rules associated with casino rewards, you'll not only be able to make the most of your gambling experience, but you'll also be able to maximize your profits.
The Most Profitable Bonuses
If you want to find the most profitable offers that suit your gaming preferences, play on sites that reward newbies with matching deposits of up to 100% or 200% plus Free-Spins free spins bonus. Long-time players can also find similar deals and use them to play slots and table games.
Also look for deals with low rollovers and bonus-eligible games from your favorite software providers. Other profitable offers include multi-deposit promotions, which you usually get for three or four consecutive deposits, and high-roller promos, which you'll get for making large deposits.
That said, here are a few welcome packages that come with large payouts and low wagering requirements.
What Are Bonuses and How Do They Work?
Bonuses are rewards that online gambling platforms give to new and existing players when they first sign up, when they make successful deposits on the site, or to mark special occasions like public holidays and other such events. These rewards can include extra cash, site credits, or free spins on certain games.
You'll find many types of promotions, such as welcome offers, deposit or no-deposit deals, cashback, etc. Each comes with certain advantages; for example, match-up offers will credit you with a certain percentage of your deposited amount.
Bonuses can boost your winnings and give you a larger amount to withdraw. That said, you have to keep in mind that these bonuses come with specific wagering requirements and other T&Cs that determine when you can cash out your winnings.
Wagering Requirements and Game Eligibility
Wagering requirements refer to how many times you must bet using bonus funds in order to be eligible for withdrawing winnings. Most online gaming sites have rollovers between 5x-50x. However, you'll also find ones with 70x or more.
Remember that not all game types contribute the same percentage towards the wagering. Namely, while video slots contribute 100%, table games contribute much less--between 0%-25%. You'll also find that some sites exclude roulette, blackjack, and baccarat from contributing altogether.
Note that not all games can be played with a promo. Make sure to check the T&Cs before you grab a deal, as that's where the casino outlines the list of games that can be played with bonus funds. That said, here are some tips you can try out to maximize your chances of cashing out your winnings.
Choose Low or No Wagering Bonuses
Opt for sites that provide no-wagering or low-wagering deals since they have lower wager limitations that usually range from 1x-25x. Remember that no-wagering promotions often have lower maximum win caps and shorter validity periods.
Play Low Volatility Slots
Play slot games that come with low to medium volatility. Since these are slow-paced games, you can play for longer and thus meet rollovers faster.
Play High RTP Games
Play slot games that come with high RTPs, between 94%-96% or above. You'll have to find games with very high RTPs that contribute to the wagering requirements.
Uncovering Hidden Gems: Lesser-Known Sites Offering Generous Bonuses
In our search for the best sites offering lucrative prizes, we also found a few brands that are new to the iGaming industry but provide extremely generous promos. On that note, we filtered out the 5 best sites that provide excellent promotional offers for new and existing players but often go under the radar.
- Offer: 150% up to $200
- Wagering Requirements: 30x
- Available Withdrawal Options: Direct Bank Transfer, Skrill, Neteller, SWIFT, SEPA, Bitcoin, EcoPayz
- Offer: 250% up to $1,000
- Wagering Requirements: 35x
- Available Withdrawal Options: Cryptocurrencies, Person-to-person, Money Order, Wire Transfers, Check by Courier
- Offer: Up to $5,500
- Wagering Requirements: 35x
- Available Withdrawal Options: Bitcoin, Bank Transfers, Visa, Mastercard, Discover, Amex
- Offer: 100% up to €200
- Wagering Requirements: 35x
- Available Withdrawal Options: Visa, Mastercard, Maestro, PayPal, Paysafecard, Skrill, Neteller, Trustly, Instant Bank Transfer
- Offer: Up to €200 + 100 spins
- Wagering Requirements: 35x
- Available Withdrawal Options: Visa, Mastercard, Neteller, Skrill, ecoPayz, AstroPay
Withdrawing Guide for Players
To withdraw your winnings, you'll need to:
- Log in to your account
- Head over to the Cashier section.
- Tap the Withdrawal icon.
- Choose your preferred payment method.
- Enter the amount you wish to withdraw.
- Confirm your choice.
- Wait for the withdrawal to be processed.
Make sure your account is verified by providing accurate KYC documents. Identity verification helps online casinos prevent underage gambling, fraud, and money laundering.
Regarding withdrawal methods, each comes with a different payout time. The fastest payment methods include cryptocurrencies and e-wallets, while bank transfers can take up to 10 days.
Terms and Conditions - Read the Fine Print
Before you tap the sign-up button, make sure to take a look at the site's terms and conditions since each gaming platform has different rules. Accepting the terms usually gives the operator the right to void your winnings and/or close your account in case of rule violation.
To avoid this, make sure you:
- Have only one active account.
- Provide accurate KYC documents.
- Play fair without the help of software that would give you an unfair advantage.
Different Withdrawal Methods: A Guide to Withdrawing Your Winnings
The most popular payment methods are:
- Credit and debit cards like Visa, Mastercard, Discover, and Amex
- E-wallets, like Skrill, Neteller, and Paypal
- Bank transfers
However, each withdrawal method comes with certain advantages and disadvantages:
- Bank transfers have the longest withdrawal time.
- Not all sites accept card withdrawals.
- Credit and debit cards may come with transactional fees.
- Some sites may offer a limited number of e-wallets.
To use any of the listed methods, go to your account, enter the Cashiers section, tap the withdrawal button, select the desired option, and enter the preferred amount.
Bonus Withdrawal Rules and Requirements
To withdraw your winnings earned through the promo funds, you must:
- Meet the wagering requirements within the specified time frame.
- Play games that actually contribute towards these offers.
- Make a minimum deposit and minimum bet.
- Don't go over the specified max winning cap.
Don't forget to activate your offer after creating an account. This may involve logging into your profile, selecting your preferred promotional offer, and entering specific bonus codes during registration.
Timeframe for Withdrawals: How Long Will It Take to Get My Money?
Here's how long the withdrawal process may take for different methods:
You should also consider the verification process, which can prolong the withdrawal time by up to 3 days.
Using E-Wallets for Withdrawals
E-wallets are one of the most popular withdrawal methods, providing fast payouts that take up to 24 hours at most. To use an e-wallet, you must open an account with PayPal, Skrill, Neteller, or any other ewallet that the casino supports and deposit money. Popular sites that offer e-wallets include Mr Green and Captain Cooks.
Casino Bonus Withdrawal Rules
If you want to know how to withdraw your winnings successfully, you should pay attention to the cashout rules. There are many restrictions that may lead to you losing your winnings if you don't adhere to their rules. Below are some tips that can help you avoid just that.
Always Fulfill the Wagering Requirements
Only try to cash out your winnings after you wager your bonus funds. Otherwise, you'll lose your winnings. In some cases, you may be able to cancel your withdrawal request; however, you'll still lose the bonus.
Stay Within the Maximum Cashout Limit
Most casinos cap your winnings at a certain amount. For example, if you place a bet of £300 and you win £3,000, but the max cashout stands at £1,000, you'll only be able to cash out £1,000 and the rest will be forfeited.
Place the Correct Bet Amount
Games that qualify for promotions often come with maximum stake amounts. If your bet exceeds the specified amount, it won't count as a bonus bet.
Pay Attention to Time Limits
It is imperative that you keep the casino bonus validity period in mind. This can range between 3 and 30 days, depending on the offer. Make sure to request a withdrawal before the specified expiration date. This is especially important with free spins, as they have a shorter validity period.
Verify Your Account
You should verify your account immediately after creating it since the validation process can take up to 3 days. If you don't verify your account, you won't be able to withdraw your winnings.
The Verification Process for Withdrawals
To request a withdrawal, you must verify your account by providing a copy of certain documents, such as your ID, passport, or driver's license. You can provide these by uploading them to the site. Casinos may ask you to give additional documents in cases where there's new info on your account, unusual account activity, or if you change certain details such as your occupation.
Account verification is necessary since it proves you can play at the site. It usually only takes a few minutes--you just need to navigate to the Verification segment of the site and upload the documents.
Withdrawal Limits and Processing Times
Processing times will vary from site to site, so you should know in advance what each platform offers. For example, at Slots.Lv, bank transfers take between 5 and 10 working days, while at MyStake, they can take up to 3 days.
Conversely, the withdrawal limits will be based on your location:
- US sites - $2,500-$4,000 per week
- European sites - £/€5,000-£/€30,000 per transaction/month
- Australian sites - AU$3,500-AU$8,500 per transaction
Withdrawal Restrictions at Online Casinos
Depending on the site, online gambling platforms may impose daily, weekly, and monthly withdrawal limits ranging from $2,000 to $10,000. But did you know you can increase these limits by progressing in the loyalty program? The higher your level, the higher the withdrawal limits.
So if you want to increase your withdrawal limit, make sure to play at the casino more often, and you can also expect other perks to go along with the higher loyalty program level.
Learn How to Claim Real Money Winnings With No Deposit Bonuses
If you want to learn how to earn winnings when using a no-deposit promo, then check the quick guides we've compiled below. These should help all different types of players claim bonuses easily.
Use Promotional Codes
If you're using a casino bonus code, you can activate the no-deposit offers by:
- Entering codes during registration or entering codes while making a deposit.
- Claiming the offer.
- Playing the games.
How to claim Welcome Bonuses
For new players who just started playing at a casino, you can claim no-deposit offers by:
- Creating an account on the site that provides no-deposit offers.
- Verifying their account.
- Once that's finished, the bonus will be automatically applied.
Claim No Deposit Bonuses for Existing Players
On the other hand, if you're an existing player at a casino, the process for claiming offers is even simpler. All you have to do is:
- Select a no-deposit offer from the promotional list.
- Complete wagering requirements.
- Enter activation codes, if needed.
Withdrawing Without a Bonus
There is a difference between withdrawing winnings from a casino deal and withdrawing winnings from regular gameplay. Namely, you'll have to fulfill certain wagering requirements to cash out the former, and your winnings will be capped.
On the other hand, with winnings that are not associated with specific gaming deals, you'll only be limited to daily/weekly/monthly limits. Therefore, you should always read the terms and conditions carefully.
If you want to avoid using casino deals, you can ignore them or ask customer support to remove them. However, do this before you start playing to avoid any issues.
Common Mistakes When Withdrawing
Sometimes, withdrawals can be declined or canceled. This is usually due to some errors happening while trying to cash out. The most common mistakes players make while attempting to request a withdrawal are:
- Failure to verify their accounts
- Using multiple accounts
- Using one method to make a deposit and another to request a withdrawal
- Failing to meet wagering requirements
- Trying to cash out their winnings before they are fully processed
- Going over the withdrawal limit
- Trying to cash out the offers multiple times
- Entering incorrect payment details
- Using a VPN
Now that you know how to withdraw your winnings using different payment methods, all you have to do is start playing. Remember that you should always read the terms and conditions related to casino offers to avoid potential issues.
Furthermore, play only games that contribute to promotions, fulfill the specified wagering requirements, place the correct bet amount, and don't exceed the maximum cap. In addition to that, remember to claim the offer before it expires.
You can also use our tips and strategies to have the best gaming experience and maximize your profits.
- How Long Does It Take to Withdraw Casino Bonuses? The time frame for bonus withdrawal will depend on factors such as the policies of the casino, and the transaction method being used. Generally, the process can take between a few minutes or hours to a few days to complete.
- What Are the Most Popular Methods for Withdrawing Bonuses? Most online casinos offer a variety of transaction methods to process bonus withdrawals, such as bank transfers, credit/debit cards, e-wallets, and cryptocurrencies.
- Can Anyone Withdraw Casino Bonuses From My Casino Account? Responsible online casino operators implement certain measures to prevent anyone other than the owner of an account from making transactions. These measures include security questions, biometric verification, and two-factor authentication.
- What Are Withdrawal Caps and How Do They Work? A withdrawal cap, or maximum withdrawal limit, is a condition put in place by the casino operator that prevents you from withdrawing funds that exceed a certain predetermined limit. The withdrawal cap differs from casino to casino, bonus to bonus, and even from one withdrawal method to another.
- Can I Withdraw Bonuses Claimed Using Promotional Codes? Yes, if the bonus you claimed using the promo code was a cashable offer, you can definitely withdraw it from the casino account. However, withdrawal is only possible if you have fulfilled all the conditions associated with the bonus. Those terms are included with the bonus offer, or they may be featured on a dedicated page on the site.