Why Credit Cards Are a Terrible Way to Pay Winnings From Online Casinos
All reliable and secure gambling houses allow using credit cards for deposits and withdrawals. For example, Visa and MasterCard allow transactions to be made in a fully encrypted manner to prevent third parties from gaining access to your payment information. However, credit cards are not always the best choice when it comes to withdrawing funds.
After you have played a couple of games and have desired to win real money online casino, you can use a credit card for withdrawal of funds. The processing of the transaction, in this case, takes from 1 to 3 days. Sometimes, you may have to wait 7-14 days, it depends on your local bank. Electronic wallets in this regard almost always carry out withdrawals instantly or within 24 hours.
To arrange a withdrawal from the casino, all you need to do is fill in the required information and request your winnings. Please be aware that you will be required to provide your card number, holder name, expiration date and security code, which is why you should only play at fully regulated online casinos. If someday your credit card falls into the wrong hands, you may find yourself in an unpleasant situation – the need to pay other people’s debts on your card.
Before agreeing to all the terms offered by the Internet casino, pay particular attention to the sections regulating the withdrawal of funds to credit cards. Some provisions require special attention.
- Cash turnover of deposit funds. On some gambling resources, before withdrawing money, the player is required to place bets, the total amount of which must be greater than the deposit. These conditions should help in the fight against financial fraud. Therefore, banks can “freeze” casino online win real money that goes to the card for additional verification.
- Maximum payout amount. The upper limit of the amount for withdrawal may depend on the chosen payment system and the status of the casino client.
- Additional commissions when withdrawing funds to the card. The client will have to pay a commission of about 2.5% of the winnings. Also, an additional commission may be charged when withdrawing casino win real money without rates, the total amount of which is greater than the deposit.
Such issues can affect the mood of the player.
Using your credit card, especially for online gambling, is easy and convenient as you can fund your account now and pay your credit card company later. However, it is better to use e-wallets to withdraw funds from casinos, which allows you to carry out transactions faster and without commissions.