How Casinos Pay Out Wins: Payment Methods Explained

For those that like to play at land-based and online casinos, playing and enjoying the games is a huge part of the experience. Whilst there is never a guarantee that wins will actually happen, if a player does win there are usually several different ways that a payment can take place.

Let’s reveal what some of these different payment methods are.

land-based casino payout methods

Let’s start with how land-based casinos make their payouts to winning customers. The most likely method is with cash. Casinos need to have a minimum amount of cash on the casino floor at any one time to ensure that winnings can be made in a timely and quick fashion.

There are many casino players who like to receive their winnings in cash as that means they have the money there and then and you would be surprised how willing a casino is to hand out cash. Usually cash can be provided for any wins up to a value of £5k, some real casinos may even offer cash for bigger wins.

If a casino was lacking in cash, some casinos may have even offered a cheque to winning customers but that is becoming a practice that is becoming rare due to the fact that cheques are becoming rarer in today’s cashless society.

‘What if a player wins the jackpot’ We hear you cry? Well that is a valid question. If someone wins a slot’s jackpot. A customer can be paid out in several different ways.

With a conversation usually taking place between the General Manager and the winning player, for large amounts bank transfers can often take place. There can even be instances where the casino may break down the payments into two. Some of the winnings will be paid in cash, the rest may be made via a transfer.

An agreement will need to be reached before the payment methods are confirmed. 

Online casino payout methods

Ever since the first online casino came into existence winnings have always been paid via electronic bank transfers. However, as banking has become more efficient, so has the way that casinos make their payments. 

Traditional bank transfers

Traditional bank transfers are still a hugely popular way in how winnings are transferred. There is a limit in how much can be transferred but the limits are often high five figures and only the biggest of high rollers often reach it. 

Bank transfers can be made to the card that was used for deposits, or other accounts can be selected. 

It is worth noting that in the UK, online casinos such as PokerStars aren’t permitted to take deposits or make withdrawals to credit cards. Credit card gambling is not allowed by the British government, so any payments must be made using debit card details.

Bank transfers are usually credited to a player quickly, but most casinos are keen to state that some winnings may take a few days to process. This is particularly the case if withdrawals are made over the course of a weekend or during national holidays.

E-wallet transfers

With some online casino players wanting quick and speedy payments, over the last few years there has been a huge rise in the amount of transfers that are made via E-wallet transfers.

The reason behind this rise is the speed that withdrawals can take to be credited back into an account. Often withdrawals to E-wallets can take a maximum of hours to arrive and many have turned to these new payment methods as the speed that they take to arrive into accounts is often quicker than those traditional methods.

Just like with traditional bank transfers, customers need to be aware of any withdrawal limits. In most cases E-wallet withdrawals have lower limits than traditional bank withdrawals so that is something to be mindful of.

Apple Pay and Google Pay

Another method that is quickly growing in popularity when it comes to withdrawals is Apple and Google Pay. With mobile transactions becoming one of the main ways to pay for things, online casinos wanted to ensure that it was a service they offered.

The limits for Apple and Google Pay are often some of the lowest and payments can usually only be made back to debit cards.

Paysafecard

One of the most least known withdrawal methods is the Paysafecard. A card that people without a bank account can use to pay with, Paysafecards are often accepted in online casinos all over the UK.

As Paysafecards aren’t linked to banks, the limits are often quite small and payments can take a while to arrive. Most online casinos advise that those making withdrawals to Paysafecards should allow for at least 24 hours for any funds to arrive.