Deposits and withdrawals at an online casino
How do I make cash deposits and withdrawals at an online casino?
In all cases you will have to deposit money up front before you can gamble online. This will mean sending online casinos money via Western Union, Moneygram, cashiers checks, money orders, wire transfers, credit cards etc. Most of them will take money almost any way you want to send it. Most will not take personal checks as they would have to wait up to two weeks for the checks to clear to the overseas location.
Having said this, you can normally use personal checks with prior approval from the casino, but your money will not be available for play until your check has cleared. Nearly all casinos now accept credit card deposits. In fact, these are highly recommended due to the low cost and speed of the transactions. All casinos operate on the account system – you send them money and your account is credited for that amount. As you gamble, money is credited or debited as you win or lose. When you wish to withdraw money from your casino account (you don’t have to, you can leave it in for future gambling) you can do so in nearly all of the ways that deposits could be made.
Many operations now allow you to have money withdrawn directly placed back onto the credit card that you first deposited money into your account with. This option is recommended as you can access your winnings within days. Casinos charge reasonable fees for other withdrawal options.
How fair are Online Casinos and Sportsbooks?
Online Casinos are more fair than many people realize. The “house” is happy making the normal profits of gambling. In many of the countries, the computer programs must be submitted to the government for thourough checking of fairness toward the player, and the firm also has to be guaranteed by one of the big eight international accounting firms. In all cases with casino gambling the odds for single deck blackjack, for instance, are exactly the same with an Internet casino as with the real thing. The same is true for baccarat, roulette etc. As for the gaming machine type games (slots, video poker etc) the player payout percentages are determined by the casino, and many will post what the percentage of payout is online.
How safe are Online Casinos and Sportsbooks?
How safe is anything? So far there have been almost no problems with casino payouts and deposit security, but that is not to say there will never be. Many of the jurisdictions require that the licensee posts bonds of cash or insurance as part of the license requirements. As an example, the groups licensed in Curacao have to post an amount of money equal to the average win in a special account in order to guarantee that they can pay winners. To even get a license, those who apply have to go through some extensive government checks.
Your personal security (including credit card details and other personal information) is also guaranteed under license agreements in many, if not all, jurisdictions. Most casinos and sportsbooks use secure servers to conduct all of their transactions, and all information about you is held offline. Many also take out insurance against fraud.