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The moment several players win a considerable sum of money within a short period of time, it goes without saying that this can cause the cash flow of the online casino to be compromised.
The use of certain low payout limits that are implemented periodically can considerably reduce this risk.
There is also something to be said about the second reason cited. Many people who have access to a huge amount of money for the first time do not immediately know what to do with this.
This may seem like a luxury problem, but in practice it often causes people who become instantly rich to suddenly end up in poverty.
By setting certain payout limits, this risk can be considerably reduced. The reasons behind the use of payout limits by online casinos are certainly not just an excuse to stall payouts.
However, it must be said that this does not entail a pleasant feeling for players. In practice, it always feels a bit like you do not really get what you are entitled to.
It also does not help that the payout limits that are used by many online casinos are actually completely unrealistic. If you win a large sum of money at certain online casinos, it can happen that it takes several decades before you finally have the full amount won in your bank account.
It goes without saying that this is ludicrous. As long as it concerns standard, relatively limited profits, this is not such a big problem.
What about the moment when you get a jackpot or even better, a progressive jackpot? The moment you have chosen to play at an online casino with low payout limits, there is a good chance that you will be able to wait very long before you have received the full profit.
This in addition, despite the fact that the provider will immediately make the full payment to the casino. This is not really fair. The payout limits that apply are not the only factor that you should take into account with regard to your cash winnings, on the contrary.
Many online casinos choose to delay the actual payout as long as possible. This is done by introducing a procedure that consists of several phases, namely:.
There are casinos that go through all three phases within a very short period of barely 24 hours, but there are also online casinos that stretch for up to one or two weeks.
The course of the entire procedure prior to receiving your money is therefore certainly something to keep in mind when you are going to carry out an objective comparison.
It can be done pretty quick, but this does not mean all casinos will actually do so. Before getting started at a particular online casino, it is always advisable to conduct an objective comparison between the different existing parties.
This comparison should not only reveal which bonuses you are entitled to as a new player, but what about the payment options as well as the payout limits?
A reader sent me an e-mail last week asking about the maximum withdrawals at gambling sites. All online casinos have maximum weekly or monthly withdrawal limits.
It might seem a little shady to have maximum withdrawals at online gambling sites, but there are actually valid reasons for this. Online casinos that serve the United States have to jump through a few hoops to process withdrawals for customers in the United States.
Additionally, I suspect that online gambling sites like to maintain liquidity in the uncertain US market. Rather than paying out a bunch of money at once, most sites would rather pay you in weekly installments.
The one exception at Lucky Red Casino occurs if you win a progressive jackpot game. Yup, the daily limit on the credit card still applies, the casino's ATM machine has nothing to with it.
But why draw money at all? Some the credit card credit limit is higher than your drawing limit. You can play Aussie casino games online with your credit card instead of drawing money.
Terribly sorry that every ATM in every casino in the world probably does not have the same rules. I'd imagine that if your card has a daily limit, then it has a daily limit.
The limit is whatever is set by your bank. Casino ATM's are not exempt from that limit. No one stole your stuff. You gave them your money.
Anyone that would go into anyplace other than home with the card and the pin in the same place is trying to give away their funds.