Online Casino Deposits & Withdrawals – What to Know

Casino Deposits & Withdrawals Intro

Anyone who has already placed bets online or played in an online casino surely knows that depositing and withdrawing is not difficult at all. However, if you are a beginner and just starting to bet on a site, it is a good idea to familiarize yourself with all the details related to depositing and withdrawing. It looks complicated at first, but once you learn it, you will do it with ease.

This guide will help you choose the most convenient method for you to pay minimal fees, if any, when you deposit and withdraw. If a casino has all the necessary licenses and requirements, your funds will always be in a safe place with them and you don’t have to worry about their safety.

Once you have already registered with the online casino of your choice, you have a profile where you can find everything related to your account. Your profile settings in many online casinos are similar, allowing you to easily navigate if you start playing at a new site.

Most of them contain Messages, Bank, History, Promotions and Help. Of course, there are also sites that use other names for individual sections, but they are intended for the same thing.

The main difference between online casinos is the deposit and withdrawal methods they offer. The easiest way to find out what methods a casino offers is to go to the Help section. There you will find information about the available options, as well as what their maximum and minimum limits are, as well as whether there are any fees for using them. You can always contact the customer department of the site if you are unclear about any of the deposit and withdrawal methods.

Most online casinos require that you have made at least one deposit with a given method before you can claim a withdrawal with it. Note that a deposit method may not also offer a withdrawal option, so please do your research before making your deposit.

Online casino deposit

You cannot start betting online if you have not previously deposited money in your account. This process is not at all complicated and in most cases it doesn’t even take a minute. As we have already specified, the deposit of funds takes place from the Bank section or similar depending on the site. Many online casinos even have a Direct Deposit button, which you will find most often next to your profile.

The moment you press the Deposit option, a window will open for you to choose a method for depositing funds. Nowadays, the choice is great, with the main deposit methods being debit or credit card, bank transfer, prepaid cards and e-wallets. Below you will find useful information about each of these methods to help you when using them.

Once you have selected the method you want, you will need to fill in its information as well. This could be credit or debit card data, or simply your account in an electronic wallet. You also very often have the option to enter a bonus code when making a deposit. If you do not have one, you can look at the bonuses offered by the online casino of your choice on our site. It is important to mention that there are some bonuses that clearly state that they cannot be claimed with certain deposit methods.

Your deposited funds will be available in your gaming account instantly after the process is completed. The bank transfer method is an exception, as it requires approval from your bank, which takes about three business days on average.

Online casino withdrawal

There’s no denying that it’s interesting and fun to bet at online casinos, but there’s hardly a better feeling than when you win a big sum and claim a withdrawal at one of them. Just like depositing, the withdrawal process is similar at any online casino. Here you simply select the Withdrawal option when you open the Bank tab in your profile. Then you again select a withdrawal method, after which you must enter the necessary data, as well as the withdrawal amount. Very often you may also be asked to enter a password, which is for the purpose of protecting your funds.

After you fill out everything and request your withdrawal, you have to wait a certain period of time before you get the funds on your card or e-wallet. First the casino approves your withdrawal, which usually takes up to 24 hours. The withdrawn amount is then credited to your bank account or e-wallet account. Bank accounts generally require an extra day or two, with the entire process from application to receiving the funds taking an average of three business days. There are cases where you may wait even longer, depending on the site itself or the bank you work with.

Withdrawals are much faster with e-wallets, but with them the fees for this transaction are comparatively higher. Here, you may receive your funds in as little as a few hours, but it’s up to you to decide whether it’s worth paying more money to wait less.

Many of the Bulgarian online casinos offer the option of withdrawal by money transfer, which is very easy and convenient. This option takes a relatively short time to receive your funds, and there are also no fees.

Deposit and Withdrawal Methods

It’s time to pay attention to each of the most popular deposit and withdrawal methods separately. These are also the most common methods, and you will find most of them, both in Bulgarian and foreign online casinos.

The deposit and withdrawal limits with each of these methods are different depending on the site you play on. Each online casino only sets their limits, which you can find out by going to the Help page on the casino site. It is very important to check the fees of certain methods, because there are casinos where your first withdrawal is free, but every subsequent one has a fee, and it is quite often very high.

Credit or Debit Card

This is probably the best known method to every single player. Nowadays, you will very rarely meet a person who does not have at least one bank account that is accompanied by a credit or debit card. This is the reason why this deposit and withdrawal method is also the most popular of all.

There is hardly any online casino that does not offer the option to deposit using your credit or debit card. The most common card types are VISA, Maestro and MasterCard. Each of these companies offers different varieties of their product, with VISA and MasterCard also having their virtual variants. They come with plastic that cannot be used at an ATM but can be loaded from your other account. Thus, when you want to deposit in a casino, for example, you can simply transfer the exact amount to the virtual card, protecting your account from malicious people.

On your first credit or debit card deposit, you’ll need to enter the card number, expiration date, and cardholder name. These data are saved by most online casinos, and at the next deposit you will only have to enter a password and CVC code, which is located on the back of the plastic.

In most cases, you can request a withdrawal only to a card that you have already used to deposit at the casino. The average time to receive funds is three business days after your withdrawal has been approved by the site. Fees for these methods vary depending on the online casino, and your card-issuing bank may also impose a deposit fee.

Bank Transfer

Bank transfer deposits and withdrawals often take too long to complete. In order to use bank transfer for your deposit, you need to get information about the account of the online casino where you need to send the money for the deposit. You can make the transaction itself from a branch of any bank or company that deals with money transfers.

When depositing by bank transfer, you will need to wait some time to receive the funds in your account. This usually takes between one and three business days, depending on the bank or company. There’s also the option of making a bank transfer through your online banking, but you’re unlikely to want to wait days for your deposit to go through if you have a credit or debit card.

Our advice to you is to only use the bank transfer method if you want to withdraw from an online casino. To request a withdrawal by bank transfer, you do not need to have made a deposit using this method before. Sometimes you can take advantage of a no deposit bonus that will bring you winnings. You can then use a bank transfer to receive your funds. They are credited to the account you specified and then you can even withdraw them from an ATM using your plastic.

Electronic Wallets

Recently, many electronic wallets have appeared on the market that allow you to easily and quickly shop online or pay for certain services. Different online casinos work with different electronic wallets. For this reason, we will separate the Bulgarian electronic wallets from the foreign ones, since they are not available in most online casinos.

The first thing you need to do to use any e-wallet is to register on its site. There you will be asked for your personal data and to go through verification in order to use their services. Verification with Skrill, for example, requires you to deposit an exact amount that they will tell you. This way, they are sure that it is you who wants to open an account with them and protect themselves from fraud.

Depositing with any e-wallet requires you to enter the email address you used when you registered with Skrill for example, as well as the amount of the deposit. You then need to approve this transaction using the e-wallet and your funds will be instantly available in your gaming account.

Withdrawal is even easier, where you only need to enter the email address you use in the e-wallet and in some cases your online casino password. Of course, you also enter the amount you wish to withdraw. This method is also often the fastest to receive your funds, which can take as little as a few hours.

First we will look at foreign e-wallets. There are dozens of them, but here we will pay attention only to the most popular ones, which are Skrill, Neteller and PayPal. These are electronic wallets that you will find in almost every online casino. There are certainly many advantages in using these e-wallets. Be careful though, due to the fact that they only use one currency and exchange all others at their rate, which may differ from that of the banks. Separately, they impose certain fees when receiving funds, as well as when withdrawing from your account.

There are three Bulgarian electronic wallets: ePay, EasyPay and Cashterminal. It is important to note that they can only be used for deposits and withdrawals at Palms Bet. Only the ePay deposit option is also available at Bet365, but there you cannot request a withdrawal using this method. So this is not an option if you don’t have a bank account as there will be nowhere to get your funds if you decide to withdraw.

However, the advantage of Bulgarian electronic wallets is that you can deposit and withdraw in the above three online Bulgarian casinos using only a personal document. This is done by visiting one of the companies’ offices or using their devices to deposit money into your account. With any of these e-wallets, you don’t even need to register on their site, just provide the online casino site and your username to it.

Prepaid Card

Paysafecard is the only prepaid card option that you can deposit with at a small number of online casinos. Prepaid cards are available at EasyPay and ePay offices as well as Pulsar stores. They have precisely defined values, which are in the amount of 10, 20, 50, 90 and 100 BGN. If you purchase a prepaid card, you will see that it has a 16 digit code to make your deposit.

You only need to enter these 16 digits when you are logged into your online casino account, after which the amount of the prepaid card will be available in your account. Here comes the place to clarify that Paysafecard is also an e-wallet, and to request a withdrawal you need to have a registration on their site. Paysafecard registration also requires verification to be completed. For example, at Bet365 you always have the option to request a withdrawal via bank transfer after you have deposited from a prepaid card.

Deposits and Withdrawals Summary

After learning about the different deposit and withdrawal methods, you’ve probably already decided which one to use. However, we advise you to be very careful and first familiarize yourself with its fees and limits at the online casino where you want to play.

Each of these methods has advantages and disadvantages. All of them, except for bank transfer, offer you instant funds to your account. However, you cannot request a withdrawal from them if you have not made at least one deposit using this method. A bank transfer gives you the option to withdraw funds regardless of which method you previously used to deposit. This is the most important thing you need to understand in order to have no difficulties in receiving your funds.

When it comes to security, each of these methods is completely secure and there is no way money can disappear from your accounts if you are careful. However, we advise you best to use virtual cards, since with them you cannot fall victim to any fraud, since you only load them with the funds needed for your deposit.