When selecting an online casino to play at, some players tend to overlook one important factor – how liberal the casino is when it comes to withdrawing whatever you have won. Many gambling operators will readily accept your deposits, no matter how big or small, but when it comes to cashing out your profits, you will soon find things are not as simple.
Most online casinos impose limits on the amounts players can withdraw from their accounts per day, week, or month. Maximum limits are particularly inconvenient for high rollers who play for large stakes and get to enjoy equally big wins. But withdrawal limits work to the disadvantage of small-scale players as well.
Some casinos have minimum withdrawal requirements that exceed the deposited amount several times. A person who plays ¢10 per hand or spin will have to arm themselves with quite the patience until they generate enough wins to be able to withdraw. Others land a huge jackpot with a nominal stake only to find out they cannot withdraw it in full due to the casino’s monthly maximum withdrawal restrictions.
As unpleasant as they sound, such occurrences are common at many gambling sites. The good news is some online casino operators go off the beaten path and altogether do away with withdrawal limits, much to the delight of their customers. The following article introduces you to everything you need to know about no withdrawal limit casinos. We also put forward 5 suggestions for operators that impose no restrictions on players’ cashouts.
Why Do Some Casinos Limit Withdrawals?
Let’s start by tackling the reasons why online casinos impose limitations on players’ withdrawals in the first place. Most gambling sites restrict the amount of money each customer can withdraw for the day, week, and month. More often than not, this is an attempt on the operator’s side to protect its business and secure its financial stability.
To achieve this, the casino would put withdrawal limits in place so that it does not have to pay out large sums of money to big short-term winners in one go. Some of these gambling sites are run by small companies whose operating capital may prove insufficient to handle multiple jackpot wins within a short period.
This might possibly lead to financial difficulties for smaller operators or even cause them to go insolvent. Most regulatory authorities in the gambling industry prohibit their licensees from using customers’ funds to cover their operational expenses. Because of this, many gambling operators would restrict maximum withdrawals so they can maintain a constant cash flow of payable player profits.
Said withdrawal limits must not be unreasonably low, however. Regular casino players from Europe are probably familiar with the Malta Gaming Authority (MGA), one of the most uncompromising regulators in the gambling industry. In 2018, the European regulatory body released a new Player Protection Directive, part of which tackles the subject of withdrawal limits.
To be more specific, Section 30 (1) (a) of Part IX that deals with the protection of player funds reads the following:
As for what constitutes “unreasonable withdrawal restrictions”, the MGA Player Protection Directive proceeds to state that the regulator’s B2C licensees must under no circumstances impose withdrawal restrictions under the amount of €250 per month. Like it or not, operators must comply with these regulatory requirements unless they are willing to part with their MGA licenses.