All online casinos have withdrawal limits, but what the limits are and with what intervals vary greatly, and often it is here we can see a big difference between new casinos and the well established ones. To check what limits a casino has for withdrawals you’ll have to read through their terms and conditions, as this is not information you can always find easily accessible on the website, or on the banking pages. In addition, the limits set by the casino itself might also be limits set by your payment method, and this we will explain in greater detail in this guide about withdrawal limits at online casinos.
As we mentioned in the introduction; all casinos have a withdrawal limit. However, not all casinos actually enforce their own rules regarding this. The big and well established casinos, who have a lot of money, will usually let players withdraw as much as they want to, simply because they can afford to pay it out. This means that even if you win a huge jackpot of millions of dollars you can get the money paid out instantly in one go. But, even though this is possible the casino still reserves the right to not pay out all of it at once, as they do have limits in their terms and conditions, and if they want to, for some reason or another, they can use them.
There is no standard in place for the limit a casino has. Some have daily limits, while others have weekly or monthly limits. The amount the limit is set at also varies a lot, as some won’t allow more than $1000 per week, while others have a limit of several thousand a day. Again, the smaller and newer casinos usually have quite low limits, simply because they might not have enough stashed up in their own accounts to be able to pay out a lot of big winnings at once. That doesn’t mean that you won’t get your winnings and withdrawals, it simply means that they might have to split up the payout in smaller increments.
We all want to win a big jackpot, and see millions of dollars pour into our account. That’s the dream. However, in reality, even if you’re lucky enough to actually win such a jackpot, that might not happen. If you play at one of the big casino companies in the online gaming industry you’ll probably get the whole win paid out in one lump sum, but if it’s a smaller casino the pouring of millions of dollars into your account might seem like more of a drizzle. If you would win say 1 million dollars, it could actually take years before you get all of your money.
If a casino has a monthly withdrawal limit of $5000, it would take 200 months before you would be able to withdraw all of it, and that’s 16 years! But, don’t worry, it’s very unlikely that a casino would hold your money for that long. Usually when it comes to big jackpots, a casino will pay out way faster than over 16 years. The big progressive jackpots are being paid by all casinos who have contributed to the jackpot, and as soon as all other casinos have paid your casino, which is the one who will pay out winnings, you’ll get paid. This can however take up to a year, as that’s the time limit the other casinos have to pay up.
Now you might be thinking that you won’t get your jackpot winnings for years, but it’s extremely rare that that would happen. Most often a casino makes exceptions when it comes to jackpots, and other big wins. Because, even though they have rules for withdrawal limits, they can choose not to enforce them, and that means you are free to negotiate with them You could, for example, say that you want half of your winnings straight away, and then the rest can be paid out over the course of 1 or 2 years. That’s quite normal, and a casino will often agree to it. If you want all your money as soon as possible then simply choose a big casino to play at, as they very rarely fuss over any limits at all.
A withdrawal limit that a casino cannot overrule is the limits for each payment method. You might have noticed when requesting a withdrawal that it says minimum and maximum something. The minimum is usually between $10 and $20, but the maximum limit might be everything from $1000 to $100,000. These are the limits set for not total withdrawal over a time period, but per transaction. That means that if you win big you might have to split up the winnings in several withdrawals, to get all of your money out. Some casinos let you add as many cash-outs as you want to in a queue, while others make you wait until the first withdrawal is processed before you can request another one.
Even though there is a limit per payment method, the limit is not the same at all casinos for the same methods. That means you can encounter a withdrawal limit for Skrill for $1000 per withdrawal, while another casino can have a limit as high as $40,000 for the same method. If you have deposited with a deposit method that has a low limit for withdrawals, and you win a huge amount, you might want to talk to the casino. They may be able to do a wire transfer to you for the full amount instead. This however is solely up to the casino, and not something they do very often, as it’s just in very rare occasions.