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Why Online Gambling Operators Put Holds on Withdrawals

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  • Digital Team 

After a big hit against your favorite online casino or sportsbook, you are going to get that urge to make a big withdrawal. In fact, you should make a withdrawal to secure some of your winnings.

As you submit your withdrawal request, you might encounter some kind of a delay. Before you panic, you should know that withdrawal delays are somewhat normal. They are actually quite common across most banking methods with the exception of cryptocurrencies. With cryptos, online gambling operators like Brango Casino are willing to issue withdrawals in minutes because there is no need for information verifications. Furthermore, these crypto-based casinos can offer generous bonuses in part because of such fast transactions.

If you do encounter a delay, you’ll probably get a little nervous and start to wonder why your online operator is delaying your withdrawal. To give you a little insight, here are five (5) common reasons why your withdrawal request might not get processed right away.

1. Statutory Pending Period

All online casinos and sportsbooks will place a statutory hold on withdrawals for 24-72 hours. They call this a pending period. They use this pending period for two reasons.

First, they use the time to make sure you have dotted all the Is and crossed all the Ts. In other words, they want to make sure they have all the proper documentation and you are in fact entitled to the withdrawal amount you are requesting.

Second, they want to force you into a cooling-off period. They force you into the cooling-off period in the hopes you will change your mind about making the withdrawal. It should come as no surprise that they want to hold onto your money as long as possible, hoping your money will soon become their money.

2. Problem With the Withdrawal Amount

It’s always possible that you will make a mistake when you submit a withdrawal request. It might be that you don’t have enough available “good” funds in your account because a deposit credit has not been fully processed or a wagering requirement has not been fulfilled.

It’s also possible that your withdrawal request falls outside your online gambling operator’s stated withdrawal limits. Should that be the reason for the delay, you could ask management for an exception, prompting them to go ahead and process your request.

3. Account Verification Process Has Not Been Completed

Online casinos and sportsbooks require minimal information from customers in order for them to open accounts and make deposits. It’s only when withdrawal requests are submitted that operators tighten the noose and get strict.

If you want to avoid unnecessary withdrawal delays, your operator will usually let you proactively submit the account verification documents they will need for future withdrawals. This is a process that is commonly referred to as abiding by the operator’s KYC (Know Your Customer) guidelines.

Most delays occur because accounts have not been properly verified. The information most operators want/need includes

  • Proof of age documentation – driver’s license or passport
  • Proof of address documentation – utility bill or bank statement
  • Funding method verification – matching names, bank card expiration dates, CVV numbers, etc.

4. Violation of Casino or Sportsbook Rules

Let’s talk about the worst-case scenario where an online gambling operator will not only delay a withdrawal request but will actually refuse to make a payment. This would happen if you were to violate any of the account terms and conditions you agreed to during the account registration process.

It’s incumbent on you to know the operator’s rules and follow the rules. Most online gambling operators have zero tolerance for rules violations. What rules? Here are a few rules that can get you in trouble:

  • Having more than one account with the same operator
  • Using a VPN when the rules clearly state that is not permitted
  • Providing false documentation of any kind
  • Gambling from restricted jurisdictions
  • Suspicious account activity or unethical behavior

5. Wagering Requirements Not Yet Fulfilled

Everyone loves getting bonuses from their favorite online casinos and sportsbooks. Unfortunately, not everyone fully understands that bonuses usually come with wagering requirements that must be met before the bonus money gets converted to real cash that can be withdrawn.

Example: You get a $100 bonus from your favorite casino. Per the wagering requirements, you might have to fulfill a playthrough requirement of say 5x the amount of the bonus. That means you would have to wager a total of $500 on designated casino games before any of the remaining funds could be withdrawn.

Conclusion

Should you feel that any withdrawal delay goes beyond reason, you should immediately contact the operator’s customer service department. It might be that you only need to provide a single piece of information to get your withdrawal processed.

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Categories: GamblingSports