FINANCIAL MANAGEMENT OF ONLINE GAMBLING
Internet gambling is bit different to real-life casino gambling when it comes to the aspect of deposition, payment and withdrawal of funds. Though playing casino online enjoys privacy and easy accessibility, however the absence of a cashier makes it much hard to deposit and receive your payment after a long haul of playing Poker online. This article aims at assisting a beginner to understand the mode of deposition and withdrawal, and proffer solutions to most often questions asked by a beginner, however it may not be to 100% precision because we are observing on the general level.
In the context of this article, we assume you must have signed up to the gambling website of your choice. However if you are yet to be registered, we advise you to first sign up, and get yourself familiar with the website environment. The next thing, is to play a game such as Slot online, but before you will be able to play a game, there are some key information you need to know about, such as mode of payment, and how to fund your gamble account.
• WITHDRAWAL AND DEPOSITION METHODS.
This is simply the means by which you make a deposit or withdraw your earnings. There is nothing to worry about because this mode is the same with those use for online shopping and using them is as easy as online banking. Cards are the most often used mode of payment on gambling websites due to the conveniences it offers and its wide use across the globe, cards include credit or debit card, visa or master card. Another mode is the America express, however it’s major limitation is that it is only used by the Americas, reason says it may be because if the strong legislation against internet gambling on the US soil.
If you are willing to deposit a fixed amount in your gamble account knowing that you may easily exceed exceed your gambling limit when you use a credit card, then all you need is to purchase a voucher or prepaid card. Another option for payment is the PayPal, your earnings gets on your PayPal account first which in turn forward it to your respective bank accounts. Other modes of payment includes e-wallet, skrill, e-bay e.t.c
The slight difference in all these modes are the duration for payment and charges. Some takes no charges while others may take Little charges, some give instant payment while some may take at most 24hours. Now that you have chosen a method, then you proceed to the cashier desk on your account page, where you give personal information about you and also select the mode of payment, finally you determine the amount you want to deposit and now you are ready to play Slot online.
After, you have make enough money by playing Poker online or any of the games and ready to cash your earnings out. Withdrawing procedure is the same as deposition, but now you decide the amount to withdraw, but you are strongly advised to use the same mode by which you make your deposit.
• FREQUENTLY ASKED QUESTIONS ON MANAGING CASINO ACCOUNT.
1). In which currency can you make a payment?
The mode of currency deposited solely depends on the gambling website and it locations. However, most of the websites receives payment in US dollars, Pounds e.t.c. On this note the player is advised to choose a country which uses the same currency as his/her country to avoid charges with conversion, same applies to withdrawal process.
2). Do internet gambling sites have minimum deposit and withdrawal amount?
Well, some casino online give a range of amount you can deposit and also withdraw, this depends on the casino and the mode of payment. For deposition, most gambling websites give a range of $5 to $50, however, in the case of withdrawal there is always a limit to how much you withdraw on daily basis.
3). Is the transaction secure?
Affirmative, funding and withdrawing your earnings is always safe with any casino. To ensure that you transactions are secure the websites have put in place some security measures which includes the application of SSL-128 encryption technology for payment. And it is expected of the player demanding his/her earnings to verify their account at every time they get a win, this measure though sometimes annoying is to ensure that your identity corresponds with the one you have given initially and to ensure payment is made to the rightful person. The documents include a government issued ID (e.g National identity card, voters card) and a utility bill(electric or gas bill) to confirm your residential address.
4). Is it possible to keep track of your transactions?
Yes, it is possible to monitor your depositions, earnings and withdraws. Internet casinos allows you to view your history while some notifies customers with a detailed transaction record. Knowing your transactions will enable you to control, and manage your winnings effectively, thereby giving you the opportunity to prolong your gambling days.
5). Can I reverse my withdrawal?
Well handful number of the casinos allows players to reverse there withdrawal, however it must be done before the payment, that is within the transaction period.
6). Can transaction takes days?
As stated earlier on, the duration of transaction depends on the mode of transaction, meanwhile most of the method works instantly, except for e-wallet which require 24-hours and other bank transfer mode may last for 2-7 business days.
7). Do casinos deal with cryptocurrency?
The world is advancing day by day, so also in the banking sector. Now transactions are made using electronic currency and casinos are really adopting this method too, the customer can then redeem the currency into money or use it for further shopping online.
We hope we have been able to introduce you to the transaction process of internet gambling, however we advise that you carefully read and adhere to the terms and conditions of the website, it contains everything you need to know about their website and services, have more fun as you earn online.