iGaming Casino Withdrawal times - why isn't this regulated?

I hope I worded that title correctly. What I mean by this is some casinos will have a withdrawal processed within 24 hours of having made the withdrawal (which is optimal, of course)... and some casinos will take "7 to 10 business days, not including weekends". ???? This is, for lack of better words, most certainly not acceptable!

HOW is it that as a customer, we can put our money INTO this casino and within moments, it is there - ready and available for play. But when it's the other direction, a customer is expected to wait 7 to 10 business days (not including weekends - it feels like forever!)..

My question is this: Why hasn't the AGCO or iGaming for that matter put stricter limits on withdrawal processing times. When you go to a land-based casino, you LEAVE with your funds. There is no 7 to 10 business days wait. The incentive to gamble online with those withdrawal times leaves something to be desired, and frankly, one should not have to wait that long EVER for their withdrawal, I mean, there are excellent payment systems out there and some casinos can process a withdrawal INSTANTLY (BetRivers does, it's amazing - two thumbs up!) ... Does anyone know why this long wait time is allowed? Seems to me that perhaps the casino needs more staff in the payments department OR an upgraded payment system, it isn't really fair to have to wait a week for your money.

Just a kind note: ïn land-based casino, you're verified in a couple of minutes. Sadly, the verification, additional checks, AML policy, and other factors are specifically applied in online casinos.

The most common complication resulting in withdrawal delay is full-scale account verification.

But I agree with you some casinos are capable of handling all mentioned above on the same day, while others are not.

Hi Radka! Thanks for that response.. however, I now have more questions haha..

So - when one JOINS a casino, and they ask for all of that "verification", this isn't verified at that time? This seems odd. What if the person isn't who they say they are. What if it's someone underage? etc.. etc.. And for the money laundering purposes, it seems to me that verifying an account after a withdrawal is made and not before is simply opening the door for money laundering, isn't it?

Now, all of that being said, how do the instant withdrawal casinos manage to do all of this verifying so quickly and others not? I mean, call me green on this subject, but I am truly interested in knowing. Why are casinos not all held to the same standard, considering that it IS a gambling platform and all, wouldn't it be a whole lot easier for those who govern these sites to insist on having certain systems in place for withdrawals? Wouldn't that eliminate the "scam" casinos out there as well, if they all had to build their casinos with the same systems?

Hi!

Your questions are perfectly reasonable, let me start by saying the complexity of the KYC is affected not just only by license (Costa Rica, Curacao, Malta, Kahnawake...) casinos size, number of currently handled withdrawals, and pending KYCs, but also by more variable aspects such as the deposit and withdrawal history, VIP status, limits reached, and so on

As indicated there is enough space for alterations, you may even experience different procedures in a "sister casino" within a larger group.

I try to advise players to undergo the initial verification as soon as possible. Honest casinos will verify you per request. It's a good tactic to avoid possible struggles in case you win.

Casinos, however, do not verify every new player automatically - it's not time effective, instead only winning players get verified to get the winnings once the verification is passed successfully. Many players just register, lose their few deposits then leave, never coming back.

In some cases, while the sum you wish to withdraw is under a certain limit, the casino won't ask you to undergo the verification. It depends on the management, employee's capacity - whatever.

By creating the account, every player accepts the terms and condition, hence when an underaged person create such an account, it's obviously a violation, and such a person will not pass the verification once triggered.

As you can see, there is no golden standard applicable to every single casino, this is probably the reason, why some players see the verification as an ultimate stall tactic, well - I'd say it depends on the concrete situation.

If you prefer to enroll in a related free course, mind the Casino Guru Academy.

https://casino.guru/academy/course/igaming-player-verification

Because I'm quite sure I didn't cover all your concerns 🙂.

Let me know what you think.

Stay away from Ontario licensed Casino, I had problem with Deal or no Deal casino and I have filed 2 times complain at AGCO,,, but they are not willing to solve the problem, Thanks to Casino Guru I was able to colect my winnings,but other players I see they have trouble to collect the winnings, Now I have registered with new Casino from Igaming its called Casino time and made my first deposit with 100% bonus with 15X wagering

so I manage to play through 5700 CAD and have balance of 3000 CAD but it still says bonus...when I checked bonus progress bar it showes you have to wager 3000/3000 CAD, so basically it did not count even a penny for bonus, to bad there is no place i can file complain, while AGCO would not help you!

Could you post an URL of this new casino you are talking about, perhaps? Would like to check it out. Thank you.

Have you checked if the games you actually played are allowed to play with this bonus? This could be the case you have not wagered it, actually.🤔

Hello Romi,

This Casino I found on Igaming Ontario site,

casinotime.ca

I have contacted the Casino 2 times and they told me they have technical problem and they have forwarded this issue to Technical support for investigation and they will let me know via email once the problem is solved,

I just have bad felling That they will prolong this while bonus is valid for 14 days and they will cancel my winnings even do that I have wagered more than required very first day.

Ok, I understand. How long has it been though, when was the last time you have spoke to the casino? I wouldn't be so skeptical, especially if there really was some kind of technical problem there need to solve.

We do not have this casino yet, so I will pass it to our data team straight away.

They have fixed the problem ,and I was able to request withdrawal,,,money paid out within 5 minutes!

Great news, thank you for sharing.👌 Did you leave a review for this casino, yet?😉