Cashout Policies and Procedures

[Nifty29]

We all know that every casino has it's own way of doing things when it comes to cashout time.

However, it is something that is scarcely understood by the player. Given it is the most important aspect of online gaming for most players, I feel it needs to be discussed from the casino point of view.

I don't have a specific list of questions but a good place to start might be:


Why does your casino implement the timeframes that it does?

Do issues like EWX and processor affect your ability to maintain these timeframes? Why/Why not?

If, for some reason, the funding situation was that there was temporarily insufficient money to cover affiliates and players, who comes first?

I would invite any Rep to share their views on these matters or any other matters relating to paying players. It's not about who is better or worse, or giving anyone a hard time, it is a chance for us to consider some of the issues that maybe we wouldn't normally hear about.

It would also be great for players to ask general questions relating perhaps to their own geographical circumstances. Please don't get into specific complaints etc - it's about educating ourselves. Knowledge is power!

Time to take this Rep Friendly vehicle for a serious test drive.

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[BoyleCasino.com]

Hi Nifty,

Seems like a post as good as any to make my first comment!

A time frame is generally put in place to allow for any checks that need to be done. If we promise a cashout within 24 hours but don't deliver (for whatever reason) then you guys wouldn't be too happy, but if we state 72 hours and deliver in 24, everyone is happy. It's just about giving people a fair expectation of when they will receive their money without leaving ourselves short of time should we need it. My guys generally check a withdrawal within a few hours of the request being put in. Pending approval for certain amounts and some basic play checks, we normally process withdrawals within a few hours.

I couldn't answer the 'who gets paid first' question i'm afraid since I've never been in (and would never want to be in) that situation with an operator.


Paul

 

[Nifty29]

Thank-you for your input Paul

I'm glad you decided to take the posting 'plunge'.

Hope we hear some more from you in future!

 

[jod5413]

Welcome to Casinomeister, Paul!!

I am happy you stepped right up to answer Nifty's post. I really hope more reps will also start posting information for us players.

Thank You, Paul!

 

[Glunn11]

I'd also like to add my thanks to Paul for stepping up and interacting with the player community with simple, honest answers that are really things we should be entitled to know.

Thanks Paul!

 

[BoyleCasino.com]

No worries folks, I do keep an eye on things here just never really had reason to post before...I'd hope that was a good thing ha! Always open to a good debate though, or answering sincere, genuine questions like this

 

[3Dice]

Why does your casino implement the timeframes that it does?

Assuming an account in good standing - and has cleared all security checks (which happen shortly after signup and after the first deposits - not at the first withdraw), 3Dice prides itself in not imposing any extra waiting time.

A handfull of online processors supports an automated payout interface (Neteller, Moneybookers, c2p) - for these processors cashouts are instant.

Other processors require manual - but still online - input of transactions (ecocard, qt, ...) - cashouts to those processors are handled continously every couple of hours.

A third group of processors like checks and bankwires are handled once a day.

Since there is no induced waiting time - there is also no 'flush' concept - you can however lock individual transactions via support - or setup your account to disallow reversing of any withdraw (in your account options). This will make sure you can't reverse for example a check that is waiting to be picked up.

We also publish the average payout times on our zeitgeist information page. At the time of this writing almost 60% of transactions are handled in less than 30 minutes.

Do issues like EWX and processor affect your ability to maintain these timeframes? Why/Why not?

Propper contingency planning and funding makes sure that events like that will never be visible to our players.

If, for some reason, the funding situation was that there was temporarily insufficient money to cover affiliates and players, who comes first?

Again, propper contingency planning eliminates the possibility of that ever occuring. But purely hypothetical, players.

 

[Pulver]

Cudos to 3dice! That is the way it SHOULD be!

 

[Glunn11]

Thanks Enzo for the insight into 3Dice's cashout policies. I, for the life of me, cannot understand why more casinos don't do (usually) all necessary verification during the player's first time in the casino, and not when he or she withdraws, except to make players become impatient with the red tape and reverse their withdrawals.

Looking forward to hearing more about the details of the casino cashier from other casinos.

 

[BoyleCasino.com]

Thanks Enzo for the insight into 3Dice's cashout policies. I, for the life of me, cannot understand why more casinos don't do (usually) all necessary verification during the player's first time in the casino, and not when he or she withdraws, except to make players become impatient with the red tape and reverse their withdrawals.

Looking forward to hearing more about the details of the casino cashier from other casinos.

To answer that for you, alot of operators still don't have automated verification, although I believe certain jurisdictions now force KYC for every single new account. I'm not too savvy on the whole KYC requirements to be perfectly honest, but I do know that these verification checks are actually quite expensive so that probably explains why many don't do it in the first instance and only when it's going to cost them money paying a player out.

 

[Jeannie]

Question....

I recently cashed out 300 from AllSlots (first cashout ever), did the EFT (i'm Canadian so EFT is an option) and did not have to produce docs... is this because providing all my banking info is sufficient?

 

[jod5413]

Congrats on your win, Jeannie!! As far as why you didn't need to give them any additional papers, don't wonder, be happy!! It is a WD to remember for good reasons!

 

[felicie]

Question....

I recently cashed out 300 from AllSlots (first cashout ever), did the EFT (i'm Canadian so EFT is an option) and did not have to produce docs... is this because providing all my banking info is sufficient?

I've never had to send docs to MGS casinos, only have to Rivals and RTGs. Wtgo at Allslots.