Banking and Online Casinos

Perhaps unsurprisingly, depositing into an online casino is pretty straightforward. Where things get a little trickier, on occasions, is when it comes to cashing out. Different online casinos support different methods, some have restrictions and others allow more flexibility. There are occasions when it can become quite frustrating, but you’ll normally find that it’s a “one-off” and once security checks have been completed, the process is usually smooth from then-on in.


  1. Stuff You Should Know Before Depositing
  2. How to deposit money
  3. Credit and debit cards
  4. eWallets
  5. Neteller
  6. Paypal
  7. Prepaid services
  8. How to withdrawal your money
  9. Security check and ID
  10. The Reverse Withdrawal feature

How to deposit money

Each casino’s website will have a “Banking” page that provides a full list of options for depositing and withdrawing. It is important to note that some methods can only be used to deposit, so check this page first. As you’d expect, some casinos are better than others, and cashout handling is perhaps the most important aspect of picking an online casino.

Keep in mind that each casino is allowed to choose which eWallets and banking methods it supports when sending cashed out winnings back to you. Because of money laundering regulations, some choose to only allow you to cash back to the source of your deposit. So if you used a certain eWallet then that’s where your winnings are sent. However this does vary, and is subject to your security status.

Perhaps unsurprisingly, depositing into an online casino is pretty straightforward. Every casino has a “cashier” option where this process is conducted and you will find these very straightforward. All deposit methods will ask you for your PIN number (eWallets) or a security code (debit cards), but the processes are usually fairly obvious. They might send you a security code to your registered phone number as an extra security measure and to confirm payment.

Credit and Debit Cards

Debit Cards are fairly self-explanatory in that you cannot deposit more than the funds you have available in your bank account. This is therefore preferred over a Credit Card. There are problems with Credit Cards, most notably getting cashouts back to Mastercard. However there are alternatives, called “PrePaid” cards that you may be able to use if you are in a country where Credit Card use is restricted. Have a look at the prepaid methods. Also note that using a Debit Card is more reliable as some online casinos are not able or not willing to refund winnings and cashouts back to a Credit Card, which can come as an unpleasant surprise when it’s time to cashout. You should check with the online casino before you deposit using a Credit Card to see if this option is available (this info is usually available on the “Banking” page on each casino’s website).

However, if you also have an eWallet such as Neteller, you can add funds using a Credit Card or a Debit Card to your eWallet, and then use the eWallet to deposit and withdraw from an online casino. You can then either make a bank wire withdrawal from your eWallet back to your bank account, or use the ATM card if provided by the eWallet provider.


Aside from the Debit and Credit Cards, there are other ways to fund an online casino account, depending on where you live, with certain “eWallet” services such like Neteller or Skrill. A number of these can be used to deposit to and receive cashouts from an online casino. Your ability to use some of these services may sometimes depend on where you reside and the attitude in your country towards online gambling.

One of the biggest frustrations faced by online casino players is the number of casinos who will not, or cannot, refund winnings back to a “Credit Card”. This is why it always pays to have an eWallet, some of which provide ATM cards and methods for withdrawing back to a bank account. The most popular eWallet is Neteller which is almost exclusively used for online gambling and supported by most online casinos. Lesser use made of services such as Skrill, Central Coin, NetPay,Citadel, Payspark and UseMyBank. The process is very fast and simple and widely supported with integrated connections built into the online casinos. Some casinos even do instant (or nearly instant) Neteller cashouts.

One footnote concerning Neteller and other eWallets. When you deposit and withdraw into your eWallet account, any currency conversion rates (FX) are subject to the rate applied by the eWallet. Thus, you should open casino accounts in the same currency as your eWallet account to avoid subjecting yourself to these conversion rates. VIPs at Neteller are offered Multi Currency accounts and effectively you can have a second Neteller account in a different currency.


While not strictly related to casino banking, it’s worth making a couple of notes about the Neteller eWallet. Neteller is free to set up, but you will need to “accredit” it with documentation at some stage, similar to that required by online casinos. Once this is done, a fairly painless experience, you get more options and the ability to transfer money from Neteller to your bank.

Neteller does charge for just about every aspect of use, but they are not unfair for an otherwise free service, and there are no charges for depositing into, or from, your Neteller account. It’s advisable (for people living outside the USA and Canada) to set one up for ease of use and to speed up your online casino cashouts.


USA Residents will find that eWallets no longer accept them due to the legal situation regards online gambling in the USA. It’s not actually illegal to gamble under Federal law although in certain states it is illegal and (due to the UIGEA law of 2006) it is also illegal for financial institutions to service deposits and withdrawals between US residents and online gambling sites. Therefore US players should take a look at the Prepaid options.

Most online casino players sign up to an eBanking service, commonly referred to as an eWallet. While not all support gambling activities, there are a number of recognised eBank services that do. Besides eWallet, you could consider PayPal an option, who emerged in the online gambling sector for players in countries where online gambling is legal. It will depend on the casino though, it tends to be the UK bookmakers and bigger brands that offer the PayPal option. But given the popularity of PayPal there are plenty of online casinos that accept this payment method as well.

Prepaid Services

A Prepaid service is effectively a “foreign” Credit Card, but because it requires the funds to be “prepaid”, it acts more like a Debit Card which is an advantage to those at risk from borrowing more than they can afford! Amongst the more popular in Europe are ecoPayz and Entropay and the netSpend Card may also provide a good alternative. The netSpend and Entropay Cards are affiliated to VISA. When you sign up, you are issued a VISA card by Entropay which you can top up from your own bank checking account or via Internet banking. The difference between a Prepaid Card and your bank’s Credit or Debit Card is that Entropay VISA’s have fewer restrictions for online usage in countries where online gambling is illegal or discouraged. You are in effect acquiring a VISA card from a foreign country where online gambling is legal. So if you live in a country where Credit Card providers disallow online gambling with a Credit Card, like in the US, this could be an ideal solution.

How to withdraw your money

The cashier is the place where you also make withdrawals. With very few exceptions, each online casino has a standard banking system which is provided to them by the provider of the software. Thus you will find similarities between all online casinos on each software platform.

To be fair, there are considerations and regulations relating to money laundering and fraudulent player activity that have to be implemented. Casinos in general have separate account departments that handle payouts, and it’s perhaps no surprise that the majority of online casino account staff does not work during the weekends, although there are exceptions and in a handful of cases, automated “instant cashout” options.


Security check and ID

Regarding security and ID checks, it is quite usual to expect from an online casino to ask you to provide two, sometimes three, pieces of ID including at least one piece of Photo ID and a utility bill. Not all do, and it often depends on the amount that you want to withdrawal. When you become a new customer at an online casino and you have made your first deposit and then want to cashout, the casino will / should check your security details to ensure that everything is above board. The strictness of this process varies from online casino to online casino, but is usually a one-time process. Some casinos do not conduct this security check on small cashouts, but a cashout over a “trigger” amount, often not publicised, will activate the security procedure. Therefore, it is very common for an online casino to ask you for “proof of ID” before they send you your first winning cashout.

Proof of ID usually consists of two or three pieces of documentation which can be posted or scanned / photographed and emailed to the casino upon request. You will invariably be asked for a copy of your Passport, driving license or a similar piece of “photo ID”, along with a copy of a recent utility bill, not older than three months old. In case you are not a householder, some other form of official letter displaying your name and address will do as well. Once on record, you shouldn’t be asked again for proof of ID by that casino.

Obviously it is essential that when you first register your online casino player account, you are truthful about your age, address and circumstances or it could lead to cashouts failing security checks. Also, keep in mind that this security ID check will invariably delay your first payment by a day or three.


The Reverse Withdrawal feature

Aside from documentation, there is one other key area of cashing out that you should be aware of: The “Reverse Withdrawal” feature. Online casinos like to refer to this as a  “feature”, but in reality it’s more of a cynical tactic implemented by some of the casino software providers to give the players the option to withdraw their decision to cashout.  

How Reverse Withdrawal works, is that when you cash out, your money sits in a “pending” state before the online casino’s Accounts Department processes it back to you. During this time, which varies from casino to casino, you can log into your online casino player account and “reverse” the money back into your account to continue to play with. For the type of “easy to entice players”, those with time to spare or don’t want to wait for the cashouts, this is of course very tempting.

Some of the Microgaming casinos however, while having the Reverse “feature”, will reduce it to zero hours for you if you ask. Some will also manually “flush” the money out of this pending pool and into the processing queue, following a request after each session by you. But many won’t. With RTG and Playtech software casinos, the casino is unable to reduce the setting in the software, however they are able to take manual control and do the “flush”. It’s just a question of whether they want to! It’s better to shop around if this is a feature that you don’t care for. You don’t have to worry about this at Cryptologic based casinos as the cashout process is instant.

As a generalisation, the “default” reverse times are set as follows: Microgaming casinos have reverse periods between 12 and 48 hours (most are 12 or 24), RTG casinos between 12 and 36 hours (iNetBet usually quicker) and Playtech 96 hours (some process quicker manually).

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