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Reverse withdrawals is a type of withdrawal rule or terms put forward by online casinos before you get back your wins. It means your withdrawal request may be cancelled and returned to your bankroll during the three days if you are a standard player and one day for VIP players following your withdrawal request. After this time your withdrawal will be processed and may no longer be reversed. Interesting it seems but it has few terms and conditions that need to be followed.
As said above reverse withdrawal is the term applied by online casinos to the waiting period imposed between the time you make a withdrawal request and that request being processed.
During this time you are able to reverse the request i.e. instead of completing the withdrawal, the money or the sum goes back into your casino account so that you can continue playing with it. The other name of reverse withdrawal is pending withdrawal as termed by few online casinos. It is important as it adds to the time taken from requesting a withdrawal from your playing account to the funds on your bank account or e-wallet. The time period for reverse withdrawal varies from casino to casino.
When you make a first withdrawal request, the reversal process allows the casino time to verify your identity. The casino does this for the protection of players and to ensure they’re not the victims of identity theft, and to reduce the risk of online gambling being used to launder money, also to ensure that underage players are not playing at the casino.
After you have made an initial withdrawal and your identity has been successfully verified, there would be no need for reverse withdrawal periods to be imposed on subsequent withdrawals but most of the online casinos want you to wait for a certain time period before your withdrawal requests are processed. The reason for this that the casino is hoping you will change your mind and play again real money slots and spend what you win. After all it’s the business of the casino.
So casinos wants you to continue playing and hope that by giving players this option they will reconsider their withdrawal requests and resume playing. Similarly, reducing the number of withdrawals it has to process reduces an online casino’s costs – both in terms of the time taken to complete withdrawals and in their own banking charges.
The only benefit to have reverse withdrawals is that you can continue playing without the delay caused by first withdrawing funds, and then having to deposit them once more into your casino account. This can also save you from paying the fees that are associated with some payment methods.
The drawback is that you have to wait for few days to get back your wins. This wait will be added to further depending on the payment method you use. If you’re withdrawing using credit card or bank wire transfer there can be an additional three to five working days added on top of the pending withdrawal period before the money hits your account. To avoid this players should opt to use ewallets like Skrill or Neteller to fund their casino account so that there is no delay in getting back to your wins once the casino has processed your payment and that the funds are immediately available and accessible in your e-wallet account.
Finally, if you come across any Australian online casinos with reverse withdrawal then it is always advised to ask the customer support team at the online casino if you have any doubts and get clarifications on any questions you have in mind.
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