Your Guide To Depositing And Withdrawing At Online Gambling Sites
When we think about real money online gambling we tend to think about the games, the thrills and the glory. That stuff is why we play course, but to enjoy the best experience possible you also need to give due consideration to the banking formalities that make everything possible.
First off, you need to choose a secure and fast banking method that works to your needs in the UK. Secondly, you need to fully understand how deposits and withdrawals work online.
On this page we’re going to provide a step-by-step guide to the banking basics of gambling online in 2020. So without further ado, let’s get started.
Step 1: Pick your casino site
You’re obviously going to want a UK licensed site that delivers great games, impressive graphics and some big-time bonuses. That’s a prerequisite. But don’t discount factoring in available banking options when you choose a site.
Our advice is to reference our shortlist of the best sites for UK players. From there, narrow down based on the ones that meet your banking needs, in terms of the deposit and withdrawal methods they accept.
Step 2: Launch an account
Before you start playing for real money at a casino you’ll need to register for an account. This is a simple enough process, the type you’ve been through a thousand times before online. Enter your details, select a password, and then validate your email address to complete the process. You know the deal!
Step 3: Make your first deposit
Here comes the important part. To play for real money you’re going to need your account loaded and ready to rock. Nothing can happen until you make your first deposit to your online real cash casino account.
We’ll break down the key stages for you here:
- First up, you choose the method you want to use to make your deposit. We’ll get into the choices later, but you’re going to see the likes of Visa, MasterCard, PayPal and Ukash among the possible options here.
- Next you enter the amount you want deposit. Welcome bonus terms should be considered here, as it is often the case that you first deposit is the one you get rewarded on at a new site (see below for more). You should also be aware that maximum and minimum deposit levels may apply.
- Once you’ve selected the amount to deposit, you’ll be asked to confirm the transaction. Take a breath here, and read through the details carefully to make sure everything looks right. Once you’re satisfied, click to proceed.
- The majority of deposit transactions show up instantly in your online casino account, even if the funds don’t clear straight away. This means you’re free to get playing real games immediately.
Step 4: Get playing
Your account is showing a balance and primed for play. Now you’re left to get browsing the available casino games and choose the one you want to play first
Once you’ve selected your game of choice, you can get playing for real cash and hopefully set yourself on the road to a big win. Forget about banking for now and get lost in the thrills of an online gambling casino.
Step 5: Withdrawing funds
So you’ve been playing for a while and built up a pretty healthy balance in your account. If you decide you want to withdraw some of those funds back to your personal banking options, here’s how you go about it:
- Select the option to make a withdrawal from your casino account. This is also referred to as “cashing out” or making a “cashout”.
- Now select the banking method you wish to use for your withdrawal. This may be the same method you used to deposit, but it could also be a different option.
- Next you’ll enter the amount you wish to withdraw. Note that there may be terms and conditions that influence how much you can withdraw. Each casino website operates to its own rules here.
- Once you’ve confirmed the transaction your withdrawal will be in process. A typical wait time for the funds to hit your banking destination is 3-7 days, depending on the banking method you choose and other factors too.
- Most casino sites take special care to ensure the validity of withdrawals. Don’t be surprised if you’re asked to produce additional identification documents. This is an entirely normal process and it’s done to safeguard your funds and online banking details.
- Once the funds arrive in your banking destination of choice you are obviously free to use them as you choose. There is no tax applicable to online gambling winnings in the UK.
How to choose the right banking method
There are plenty of choices when it comes to banking methods at online casinos. Our best advice is to read up on the main providers (we have a page reviewing all the big ones) and make a judgement for yourself as to which best suits your needs.
Here are some of the major players you’ll come upon:
Why welcome bonuses are important
In the deposits section we talked about the importance of considering welcome bonuses when you pay in your first amount. This is because welcome bonuses are typically tied to the amount you deposit, so it’s sometimes worth investing a bit more at the start to benefit from as much free credit as possible.
For example, if a site is paying out a 100% match bonus on deposits of up to £200, you probably want to pay in as much as you can afford up to £200. This is especially true if you’re convinced this is a site you’ll be playing at in future.
Is it safe to make gambling transactions online?
The answer to this is yes, but with a big caveat attached. Only sites licensed by the UK Gambling Commission are legal for the play in the UK, and we can’t stress strongly enough that you should stick to these for your entertainment.
Licensed sites are regulated and have all the secure software in place to ensure your deposits and withdrawals are completely safe. If you want to play at the very best ones, just follow our links to the top sites for UK players!