Choosing your method of payout is one of the most important decisions you can make in your gambling career. In fact, it should be one of the determining factors of making a final decision regarding an online casino. A casino that offers good - and varied - payout methods is usually one that can be relied on.
After you have hit the jackpot in your favorite online casino game, or won the pot in that poker high stakes poker game, or won you sports bet, the next step is to choose how to get your payout.
Here's a checklist of things to look out for to find easy and reliable methods to receive your payouts.
Look around
Don't sign up with the first banking method that grabs your attention. Take the time to read up about ALL the available methods on the market in order to make an educated decision. There are many factors that need to be taken into account and it is well worth the effort of looking around for a method that suits YOU.
Verify if it is legal for you to use a particular method
When the Unlawful Internet Gambling Enforcement Act was signed into law in 2006, many traditional payment methods restricted U.S. gamblers from using their services. While credit card companies had been wary of dealing with online casinos in pre-UIGEA days already, U.S. gamblers had found other methods such as Neteller and other e-banking solutions. Recently, however, big names in the gambling market began restricting the U.S market. These include Neteller, InstaDebit, Payspark and e-Check. It is important for you to check whether you are legally able to use the method of payment of your choice. The last thing you want is to face a frozen account and the inability to free your winnings. Check what methods other players in your country of origin are using.
Make sure the payout method is discreet and secure
You will want to make sure that the service offers you the highest level of security in order to protect your funds and transactions. At the same time, you will want to make sure that the highest level of discretion is guaranteed and that your personal information will not be handed to third parties, for whatever reason.
Cross check the reputation
Check the gambling message boards to find out how other gamblers feel about the system that you choose. Look out for negative as well as positive comments and see whether what is said could be a problem for you.
Check gaming site if they offer payout method
Some online casinos have certain restrictions regarding the payout methods that might influence which method you choose in the end. For example, most casinos insist on paying out winnings using the same method of payment that was used to fund your account. This might not necessarily be a bad thing, but it is something that needs to be considered before making your final decision.
In the same vein, some online casinos offer players an additional bonus for using a particular method of deposit/payout. While your decision should never be based solely on a 10% bonus, it could help you decide between two reputable methods in the end.
Have a backup plan
It is highly advisable to sign up with one payment method but have another one in your top draw as a back up plan. With the gambling industry so volatile these days, you might be forced to make immediate decisions about your money, including the need to find an alternative form of payment in a very short space of time.
There are many factors to be taken into account when making your final decision about casino deposit/withdrawal methods. Arm yourself with as much information as you can and make an educated decision. The best gift you can give yourself is peace of mind without the need to worry about money matters, so as to free your time and mind to concentrate on your gambling fun instead!
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