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auCL-Ed
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11 December 2009 - 7:38am

Do you consider withdrawal limits when choosing an online casino?

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Lately we have been coming across quite a lot of new (and old) casinos that are starting to add maximum withdrawal limits to their terms and conditions. We are trying to add this information to our reviews so you can consider this information before playing.

I'll give a few examples:
Noble Casino (Playtech) - $10,000 per month, progressive wins included.
Rockbet (Rival Gaming) - $2000 per day, $4000 per week (not sure if it includes progressives).
GoWild (Microgaming) - $5000 per month, progressives excluded.

I have deliberately picked these three because they are all relatively new, and are all good casinos in almost every other way. They cater to different markets, and use different software, so its not necessarily a software provider issue. In all cases I believe that there are other casinos using the same software that have significantly larger limits, or even no limits at all.

The major problem I can see is the case where someone wins a massive progressive jackpot at a casino where progressives are included in the withdrawal limits (ala Noble and most other Playtechs) and is then told they will be paid $10k per month for the next 30 years. Apart from significantly devaluing the jackpot win, who knows if the winner or the casino will still be around then to receive the payments or pay the bill? Another problem is for high rollers - who is going to deposit 5 figure sums or more at a casino with a $5000 per month withdrawal limit? Aren't these casinos effectively saying we can't handle you high rollers?

So what I want to get your feedback on is - are you influenced by this sort of thing when picking a casino to play at? Are you even aware that these limits exist, and most importantly do you care?

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aukabean
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11 December 2009 - 9:03am
#1

holy cow thats a good post. i never really knew they had those sort of limits. i am def not a high roller tho so it doesnt really affect me that much. But if i won a big jackpot and had to wait 20 years to get it all i would be calling in a lawyer!

do you know if intercasino or english harbour has a limit? (they are 2 of my current faves)

auSydney J
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11 December 2009 - 12:37pm
#2

Not often but it really depends on what you play.. I personally prefer blackjack and so huge wins are not really an issue.

auCL-Ed
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11 December 2009 - 10:46pm
#3

kabean ... from English Harbour's terms:

Quote:

the maximum amount that can be withdrawn from the casino is 5,000 per week. Any amount greater than 5,000 will be divided into parts, where no part can be larger than 5,000, and sent on consecutive weeks until the total amount has been delivered.

From personal experience they do enforce this, although they just let you withdraw and send it to you in parts without putting the balance back into your account. Some other casinos don't do this - they send you the first part, then put all the money back into your casino account which forces you to keep coming back and withdrawing. I am sure you can see what they are really trying to do there.

I could not find any limits at Intercasino.

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auSydney J
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12 December 2009 - 1:06am
#4

Intercasino has sent me as much as 10k within 6 hours of requesting it...

aukabean
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12 December 2009 - 9:48pm
#5

thanks Ed and Sydney J! that is a bit of a relief. 5000 per week is 20 per month which isnt that bad compared to the others you mentioned... even better at inter

cacocakolakid
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15 December 2009 - 3:15am
#6

the majority of sites that i currently play all have reasonable withdrawal limits - i agree and would also consider it a problem if progressives were included in the withdrawal limits. i always thought progressives were paid out by another company and not the actual casino itself.

auCL-Ed
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15 December 2009 - 4:41am
#7

Generally that is the case, but sometimes what happens is the software provider like Playtech forwards the money on to the casino and they then pay the player. But then there is the infamous case of Joyland Casino and the missing $2 million where they didn't pay the player in full and seem to have pocketed the change. The lesson learned from that is if you play the Playtech progressives, stick to Betfred, Bet365 or any others that don't have this policy because they can and will enforce it.

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cacocakolakid
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20 December 2009 - 4:50pm
#8

even then you would think since the money is forwarded (i assume it would be the full amount) to the casino to pay the player - what's holding the casino back from paying what they received to the player?

auCL-Ed
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20 December 2009 - 10:40pm
#9

That is indeed the $2m question. Greed? Lack of ethics? Financial trouble?

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usUsne
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24 March 2010 - 2:51am
#10

I wonder if it has to do with tax issues or in some case paying out to US players. I do know that in the US any money received over 10k has to fill out a government form explaining where the money came from. That in itself could get pretty tricky.

I sure would love to have those kind of headaches of receiving a huge jackpot win in increments!!

Usne

auCL-Ed
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24 March 2010 - 5:07am
#11

It is definitely an issue for casinos that accept US players. Not only from a tax perspective, but also the UIGEA law which tries to block gambling related financial transactions. The casinos keep the limits low to stay "under the radar". But casinos that do not accept Americans - like the Playtechs, Microgamings etc - have no such excuse.

I strongly advise progressive jackpot players to pick a casino with no limits, or acceptable limits, before playing.

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inRobert
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16 April 2010 - 11:51am
#12

The maximum of site that I recently play they all have a certain withdrawal limits. I appreciate and consider the problem if progressive were adding in the withdrawal limits. I think they paid through other source instead of their own.

usUsne
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18 April 2010 - 8:14pm
#13

I think its really unfortunate that some of these casinos put such restrictions on payouts. Some casinos actually only allow $1000 per month withdrawal! Can you even imagine winning a nice chunk of change and being told you can only cashout a $1000 per month.

The temptation would be brutal to wait it out and not gamble it away especially if the wait was for like 6 months or more to totally get your payout.

Usne

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