Understanding Online Casino Payouts

When people consider which casino to join, a lot of factors come into play. It is very common for new players to become seduced by the promise of an enormous welcome bonus, or dazzled by the array of slot games on offer. However, there are other factors which also need to be taken into account when choosing a casino. This is a business where you will be depositing your money, and you will need to be confident that the site is trustworthy, fair and that it will make payouts promptly and with a minimum of fuss. We are going to take a quick look at how online casino payouts work, and what you need to know in order to make the process run as smoothly as possible. 

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Every game in an online casinos (and a land-based casino too, for that matter) will favor the house. This is a simple fact, and is how casinos manage to stay in business. What this means in effect is that every casino game will return a percentage of profit back to the casino over time. Of course players can – and do – make a profit from casino play, but when averaged over time and over all customers, the casino will come out on top in the end. Take the popular game of blackjack, for example. When played statistically correctly, this game offers a return to the player of over 99%, leaving just less than 1% as the house edge. Of course not all blackjack players do play optimally, meaning that the house edge goes up a few percentage points. 

Other casino games are less generous than blackjack to the players. Most slot games offer a return to players of between 93% and 97%, with the casino taking the rest. Games like bingo and keno offer the worst value of all to players, with returns of around just 60%. This means that while bingo can be a fun and sociable game to play online, it should never be relied upon as a money-maker! Of course, it is possible for players to make a profit on any casino game, so long as Lady Luck is shining a light in their direction. With that in mind, you will want to be able to withdraw any of your profits in a timely fashion, so let’s look at how the payout process works.

Before signing up with any online casino, scroll down to the bottom of the main page to check where the site is regulated. A solid regulator will be a guarantee of fairness and that financial transactions will be processed quickly and securely. If you are not sure about a particular casino, check out a site like  Reel Bonanza, where you can find a large database of recommended sites along with the payout structures on various games (lots of casinos have the same games). Having signed up with a reputable site, make sure that your account is verified and you will be able to make your payouts whenever you need them and with a minimum of fuss. 

Licensed and regulated online casinos are required to prove the identities of their players. This is to protect against fraud, as well as to confirm that players are over-age and also that they are not trying to conceal a gambling problem behind a false identity. Sometimes new players can get nervous about the fact that an online casino is asking them for scans of ID and proofs of address, but in fact this should be a reassurance rather than a worry. While customers from the UK can often have their details verified from online records, players from other countries will be asked to send scans of ID to confirm their identity. You will not be able to withdraw funds until your name, age and address have been confirmed, so you should do this as quickly as possible. 

Most casinos will ask for a scan of a passport, driving licence or ID card to prove customer identity. Proof of address will often be a bank statement, utility bill or a rental agreement. Send these by email when requested, and you should expect your account to be verified within 72 hours at the latest. Now you will be able to process all withdrawals without further delay. The speed of withdrawals depends upon the size of the payout as well as the payment method used. Electronic wallets like Skrill, PayPal and Neteller are the quickest withdrawal methods. The slowest method is via bank transfer, as this can potentially take between 3 and 10 days to process, depending on the countries involved. Note that as an anti-fraud measure, online casinos will require you to withdraw to the same method which you used to deposit. If this is not possible, then you will be asked to withdraw to your personal bank account.