Withdrawing at Online Casinos – A Guide for Australian Players

Of all the things you’ll be asking yourself when you check the casino wallet, the choice of the withdrawal method will be among the top questions. What you might not realise is that you may have already sorted this out with your deposit. If you used Mastercard or MiFinity, chances are you can withdraw the same way.

To pick the right method for you, you need to consider a few things even before you deposit, such as:

• Whether you want to play with FIAT or crypto
• The size of your deposits
• Whether you mind waiting for withdrawals
• Whether you want to play with bonuses

For instance, debit/credit cards are an easy way to deposit, but they are not always available for withdrawals, in which case you’re stuck with a bank transfer. The same goes for prepaid cards. Now, e-wallets are a better option, but they might come with lower limits and bonus exclusion.

In my opinion, the best thing is to choose a multi-purpose method that allows both deposits and withdrawals.

The deposit method is important for managing your casino transactions. In most cases, the method you choose to deposit will be the one you must use to cash out winnings.

This is why you should pick the initial payment method carefully and possibly avoid prepaid vouchers like CashtoCode, Paysafecard, or Neosurf, unless you’re making a small deposit and are comfortable with a bank transfer withdrawal.

My suggestion is to use a method available for both deposits and withdrawals. The choices depend on the casino, but they usually include e-wallets, bank cards, and cryptocurrencies.

The withdrawal request goes through two processing phases: internal and external.

The first phase is the internal processing, which is how the casino handles withdrawal requests. From the moment you submit the request, it usually takes the casino up to 48 hours to process your payment, regardless of the method you choose.

Note that there are some casinos that process payments only on business days, usually Monday to Friday from 8 AM to 4 PM, but I’m not a fan of those.

In general, the exact time it takes depends on several factors:

• Whether you’ve completed your KYC – If not, it can take an additional 48 hours to get this done.
• Whether you’ve verified your payment method (if asked) – It could take a few hours up to 48 hours as well.
• The amount you’re withdrawing (jackpot wins are subject to additional checks) – Could add an additional 24 hours.
• Whether you’ve played with bonuses – The casino needs to check whether you’ve cleared your playthroughs properly.

Therefore, if you’re a regular and you keep using the same method, your request might get approved within a few hours at the top Australian casinos. On the other hand, if it’s your first time withdrawing, it might take 2-3 days.

External processing is the second phase, in which the payment service provider checks the transaction. This is where things differ, as some payment options are far faster than others. As a general rule, crypto withdrawals are the fastest, followed by e-wallets, then bank cards, and finally, bank transfers.

I’ve created a table to illustrate the processing times of the payment methods commonly used for withdrawals at online casinos in Australia.

Note from Australian Gamblers: Crypto withdrawals are generally instant (they take up to 10 minutes) once the casino sends the money, but some crypto networks are faster than others. The slowest are Ethereum and Bitcoin, where a Bitcoin transaction can take up to 2 hours.

There are three distinct types of withdrawal limits:

• Payment method limits: These are the minimum and maximum withdrawal limits you can make in a single transaction from a payment method. The minimum amount is usually between A$20 and A$30, while the maximum can range from A$2,000 to A$7,000.
• Withdrawal caps (daily, weekly, and monthly): These limits tell you how much you can withdraw on a daily, weekly or monthly basis, regardless of the method. Some casinos skip the daily limit, but impose a weekly cap of around A$12,000. The monthly limit ranges between A$20,000 and A$50,000, depending on the casino.
• Number of withdrawal requests: This is perhaps the most overlooked form of withdrawal limit, but it’s just as important. Most Australian online casinos let you submit up to 3 payout requests in 24 hours. Keep in mind that some only allow one. You can find this info in the general T&Cs or by contacting support.

Note from Australian Gamblers: If you’re a high roller, you might get higher withdrawal limits as part of the VIP rewards. In this case, you can withdraw more on a weekly and monthly basis, but the maximum payment method limits stay the same. So, if MiFinity is capped at A$6,000 per transaction, that won’t change. What will change is the number of times you can request this payout on a daily or weekly basis.

The good news is that withdrawal fees imposed by casinos are a rare sight nowadays, especially at instant withdrawal sites. However, what the payment services charge for the transaction is out of the casino’s hands. The only casino fees you may see are for bank transfers, although I’m seeing those less and less as well.

There are a few technical steps you should take before submitting your withdrawal request, which I’ll explain below.

This one’s important. If you’ve claimed a bonus, you can’t withdraw bonus funds or any winnings until you’ve completed the bonus wagering requirements, or at least until the bonus expires.

If the bonus expires before you finish the wagering, you will lose the bonus and bonus winnings, but you can still make a regular withdrawal. If you request a payout while the bonus is still active (wagering unfinished), you can do so, but you agree to forfeit any winnings you have gained up to that point.

If you’ve cleared the withdrawal requirements and have a substantial amount of money to withdraw, I suggest you max out on the daily limit. However, if you want to keep on playing, it’s smart to leave some part of the balance, so that you don’t have to deposit again as soon as you send that request.

If you’ve won a jackpot, though, your winnings are likely to be paid out in instalments, but you should talk to support on how to proceed.

Withdrawing is a technical process that various factors can hinder. There’s no need to panic, though. I listed and explained some of the most common withdrawal issues I’ve encountered so that you can avoid them.

• Processing delays – Processing delays can occur for a range of reasons, including incorrect or incomplete information, network congestion, or the withdrawal method used. This doesn’t mean your winnings are lost; it just might take them longer to reach your wallet.
• Security checks – Licensed casinos perform different security checks to avoid fraud, money laundering, and other possible risks. If you’ve not completed the verification process or are using a payment method that’s not in your name, this can lead to security checks and potentially a sanction by the casino.
• Incorrect information – It’s surprisingly easy to enter the wrong card number or expiration date accidentally. This isn’t as much of a problem with cards, but if you enter the wrong crypto address, this is a non-traceable and non-reversible transaction, so you’d lose your winnings.
• Void bonus funds – If you try to withdraw cash funds while you have an active bonus in the bank, the bonus funds and winnings you’ve collected from that bonus will be voided. That is, unless you complete the wagering requirements. Once you satisfy the bonus rollover, you can request a withdrawal, or you can voluntarily cancel the bonus if you believe the wagering requirements exceed your budget.
• Use of different payment methods – Online casinos expect you to use the same deposit method when you make your withdrawal, and if you decide to use more than one deposit method, you’ll need to verify them all before withdrawing.