Are you new to the online casino world and wonder how do you collect money from online pokies? It’s a question that many have raised on a regular basis so we decided it was high time to put pen to paper….so to speak… and answer this interesting question.
Now the answer to the question “How do you collect money from online pokies?” is a pretty generic question, in light of this, we compiled a few ways that you may come up against in your race to withdraw your winnings.
The big answer to this question is that when you are playing on the pokies online, you will have money in your cash wallet, or cash accounts (named various ways dependant on the casino). As you play the money will go down, but if you win money and keep it, it will also go back to your cash account to be withdrawn into your designated card or account.
Wager forty times the amount you get free
There is a slight issue with this though and this issue arises when you are not using your hard cash and win on a pokie. Should you have bonus money in your account from a promotion or a signup reward, you may find that when you win money on the pokies by playing with your bonus money you cannot collect your winnings straight away.
The reason for this is that there will be a play-through assigned to the free cash, this means that you need to wager forty times the amount given free to be able to withdraw any winnings from the money. Essentially if you have been given $10, you may need to wager $400 with this money to withdraw it.
What Restrictions are in Place for Pokie Win Withdrawals?
Each casino has specific regulations for when making an online casino withdrawal. You should read through the terms and conditions beforehand. Below are the most common restrictions in place for withdrawals along with a brief explanation.
Most Common Restrictions in Place for Withdrawals
1. Betting/wagering requirements
How many times do you need to play through a bonus before being able to make a withdrawal? Let’s use a 20x betting/wagering requirement and a $100 bonus as an example. You will need to wager 20×100, so $2,000, before withdrawing funds originated from the bonus. Some casinos will require you to play through the deposits as well. In this case, the wagering requirement would be (100+100)x20, so $4,000.
2. Withdrawal limits
Somewhat self-explanatory, most casinos limit the amount a player can withdraw over a certain period of time. Casinos usually set daily, weekly, and monthly withdrawal limits. VIP members usually enjoy increased limits.
3. Time limits
The number of times you are allowed to make withdrawals. Players are limited to making withdrawals a certain number of times during a specific timeframe.
4. Amount limits
How much money players can withdraw in one go. Some online casinos will allow players to make one big withdrawal in specific situations; such as after scoring a big win. However, payment methods themselves may only be able to receive a specific amount in a particular timeframe; (per day or per week) so it’s important to check this to avoid disappointment.
5. Security Checks/KYC
All regulated online casinos are obliged to carry out security checks on new and existing customers. This is to ensure the customer is of the legal age for online gambling and also to confirm the payment used belongs to the customer.
Note that proof of identity (submitting a copy of an ID card, passport, or driver’s license) is the most common requirement. Players may also need to submit a proof of address (utility bill). For credit/debit card withdrawals, players also need to submit a photo of the front and the back of the card.
Don’t worry, your personal information is well-protected. Casinos have the latest encryption in place to protect any sensitive information. E-mailing your documents is the most common method for sending the information, though some online casinos offer customers the facility to upload documents on their site. At first, this can seem like a bit of a pain, but knowing your online casino is meeting all regulatory requirements is definitely a good sign, particularly if you’re a new customer.
How to Withdraw
Ensure you withdraw within the limits mentioned for the various withdrawal methods available and choose the method you wish to use. Then, submit all the documents that the casino asks for. There is usually a pending period prior to the approval of the withdrawal, during which the casino examines and validates all the documents provided. Once this is done the withdrawal is approved and the money reaches your bank in the timeframe provided.
This is not a con but a way of ensuring people don’t sign up, get free cash and withdraw it without playing.