Casino payout limits are part of the gaming industry, and there is no doubt that payout limits and maximum payouts are players' worst nightmare. So it is worth to know about them before playing at your chosen online casino. Almost every online casino will have a certain withdrawal limit, in whatever form.
A withdrawal limit is simply a limit to the amount you can withdraw in one or more transactions. The casino cash withdrawal limits vary from different casinos. Some will apply daily limits, the others weekly, or monthly limits. If the casino sets a daily limit you will be able to withdraw up to the maximum limit allowed and then you will have to make another withdrawal the next day and so on until you have withdrawn all your winnings. The same goes for weekly and monthly withdrawal limits. Some are time-limited and some are limited to the actual amount, so make sure you understand how it all works at your chosen casino to avoid disappointment in the future.
If you are a High Roller gambler (the one who spends a lot of money gambling) and you keep withdrawing large amounts, the cashout limit can be a real pain. Fortunately, there are casinos where you can raise your loyalty status and become a VIP. Typically, VIPs will benefit from the increased or zero withdrawal limits, so check the casinos you play at for these kinds of benefits.
If you don't want to be limited to the amount you can withdraw, you have to play at casinos that have more lenient payout rules. Some casinos will have much higher withdrawal limits than others and the limit may also depend on the withdrawal method you choose.
Withdrawing to an e-wallet account such as Neteller or Skrill can really lower the amount you can withdraw in one transaction. However, withdrawing, say via bank account, or even bitcoin, can result in unlimited daily withdrawals, so you can get money faster by using multiple withdrawals per day.
What’s the difference between the payout limits and maximum withdrawal limits?
They may sound the same, but they are not, so make sure you don't mix them up. The online casino maximum withdrawal limits are basically the maximum amount you can withdraw based on the deposit amount or the bonus amount. To clarify this: if the casino pays 10x and you deposited $ 50, no matter how much you just won, you will be able to withdraw a maximum of $ 500 ($ 50 x 10). What's going on with the rest? Well, the casino will confiscate them as soon as they process your withdrawal.
Withdrawal limits do not apply to every online casino you play at, but it is very important to understand them in case they arise at the least expected moment. Playing your favorite slots and games is the fun part of gambling. Get your winnings is the other story. No one wants to be in a situation when the casino denies payment of all the won cash. Reading the terms and conditions can be boring, but it only takes a few minutes of your time for a life-changing paycheck.