One of the best things about winning at online casinos is when you can finally withdraw your money and spend it on something good.
However, it is not always so simple and you will sometimes come across casinos that delay withdrawals. We'll explain why this happens and what you can do if it happens to you.
There are several reasons why a casino withdrawal would be delayed, most of which are related to account issues:
Detection of underage players
It is illegal to play if you are under 18 or 21 in some parts of the world and the casino has an obligation to prevent people under the legal age from playing on their site. If they have reason to believe you lied about your age when opening your account, they are required to investigate your account.
If you have done nothing wrong, you will get your money back after completing the investigation. However, if you lied about your age when creating your account, it is likely that your funds will be seized and your account will be closed.
Using multiple accounts
Having more than one online casino account, or "multiple account", is generally frowned upon by the sites and can cause delays in processing withdrawals. The reason casinos don't like a person having multiple accounts is that they don't want their welcome offers (available only to new players) to be abused by people who already have an account.
If, upon withdrawal, they find that you have multiple accounts, they will likely ask you why this is the case and ask you to close all but one of your accounts before you can withdraw money from your main account.
Failure to verify identity
KYC or Know Your Customer is becoming mandatory for more and more online casinos and the rules they have to follow to comply with it are very strict. Most jurisdictions require a player to complete identity verification before they are even allowed to play on the site, but some only require it when attempting to withdraw funds.
If you have not completed your identity verification, your withdrawal will likely be delayed until you have submitted your documents and verified by the casino. This is a one-time thing you need to do once your account has been verified, you don't need to do it again.
Wrong account or payment details
Providing the casino with incorrect bank information will inevitably cause your withdrawal to be delayed. It is important to check the details of each withdrawal before confirming it and read the confirmation email carefully to make sure you have not made a mistake.
If you made a mistake, contact the casino immediately to see if they can reverse the transaction before it is completed. There is often a delay between when you request the withdrawal and when the withdrawal is processed to ensure the casino sends the correct amount of money.
Reported for account abuse
If you have used your account in a way that casinos do not like (arbitrage betting, bonus abuse, loophole abuse, etc.), your account will be reviewed before any withdrawals are processed. They will check if you have cheated the casino in any way and if so, they will confiscate your funds and close your account.
Although arbitrage betting is not something the casino likes to do, it is not illegal and casinos cannot withhold your money for it. However, if they think you are doing this, they may place betting/winning limits on your account.
Transactions with another credit card or payment account
When you withdraw from an online casino, they prefer that you withdraw using the same method you used to deposit funds into the account. Some websites require you to only withdraw using this payment method until the withdrawal amount exceeds the deposit amount.
Choosing to withdraw using another method may delay your withdrawal as the casino verifies the transaction as part of its anti-money laundering obligations. Once the check has been cashed, the money will be deposited into your account.
Your withdrawal may fail or delay for several reasons. It is important to look at the casino guidelines and preferred payment method to avoid unnecessary delays and cancellations. Contacting customer service is also a great way to resolve your withdrawal issues.