How to Withdraw From a Crypto Casino Safely

Afterwards, once the casino sends the transaction, the blockchain takes over; in fact once enough confirmations have happened, the funds will arrive in your wallet. And most importantly, good crypto casinos pay out very quickly, we are talking about minutes, literally. 

However, there are a few tiny details that you should keep in mind – for example, wallet security fees, limits, taxes, double-checking addresses etc. It is really important to know this before you hit that withdrawal button. And below we will list the step by step withdrawal process so you avoid any type of confusion when it comes to this process.

Step-By-Step Withdrawal Process

1. Verify Your Account First

You must make sure that your account is fully verified before you try to attempt any withdrawal. That’s because most of the crypto casinos will not process your withdrawals if you don’t pass the mandatory KYC checks or confirm your email address.

This could also mean uploading your ID or proof of address in the case you are withdrawing larger amounts, however for smaller withdrawals, the process can be much much faster. The bigger amounts most likely will trigger checks. This might feel a bit annoying but if you do this beforehand it will save you a lot of time waiting later on.

2. Choose the Crypto and the Network

Once you’ve verified your account, you will need to go to your casino wallet and pick the coin you want to withdraw, whether that is Bitcoin or Ethereum or USDT for example. Then you would need to pick the network. Be super careful here, it is very easy to mess this step up.

What’s important here is to match the network with the receiving wallet, because sending the funds on the wrong chain can lead to losing the funds. Example of some networks are ERC-20, TRC-20, BEP-20.

3. Enter Your Wallet Address and Amount

What matters here in this step is not to rush it – you would need to paste your wallet address very carefully. If you add only one wrong character your money is gone forever, and there won’t be refunds or chargebacks. 

Before you confirm the casinos will show the network fee and the minimum withdrawal amount, it's important to check both. The minimum amount is usually around $10-$30.

4. Confirm the Withdrawal (Security Checks)

This is where the 2FA code or an email code comes into play, because most casinos do require a confirmation step. But hey, this is a good thing because it literally protects your account if someone ever gets your password. Here, you need to just enter the code, confirm the withdrawal and the request gets processed and sent to the casino.

5. Wait While the Casino Processes It

Once you have confirmed the withdrawal you would probably see the status as pending first. As we discussed earlier, smaller amounts usually get processed almost immediately, while the bigger ones might trigger manual review which can take up to 24 hours. And sometimes even longer if this is your first big withdrawal. 

During this stage it is important to keep the transaction ID once it appears, because you might need it later on.

6. Blockchain Confirmations Happen

After the casino sends the transaction, the blockchain takes over. For Bitcoin confirmations, it usually takes 10 minutes per block. In practice, many services wait for 6 confirmations which means roughly an hour. Ethereum on the other hand can take just seconds or minutes. If you are keen to find out how long the withdrawals take for the different coins, check our guide on average crypto withdrawal times.

After the confirmations are done, your funds will appear in your wallet and become spendable. And that’s it, this is the whole withdrawal process journey.

Crypto Casino Withdrawal Security Best Practices

This is the part that honestly matters more than the withdrawals themselves. Here's an infographic that quickly goes through the most important security steps, as well as details for each below.

Fees, Limits and Confirmation Times

Keep in mind that every casino sets its own rules, but there is a general pattern and you can learn more about it below:

Fees

You will usually pay a network fee + sometimes a tiny casino fee which is oftentimes just a few dollars. Stablecoins usually cost around $1-$3 to withdraw and the fee is shown before you confirm – that’s why you should always check it beforehand.

Minimum Withdrawals

Most online casinos would set a minimum around Most casinos set minimums around 0.0001-0.001 BTC or that’s roughly $10-$30. Don’t try to withdraw less because it would simply won’t work.

Payout Speed

Many online crypto casinos will pay you out very fast. Bitcoin withdrawals often land within 1-15 minutes once processed. However, for large withdrawals or new accounts it might take longer because of the security checks, sometimes for a few hours but most likely up to 24 hours in total.

Limits

It is commonly known that verified accounts usually get very high withdrawal limits and sometimes they are basically unlimited. On the other hand, unverified accounts often have strict daily caps and if you plan to withdraw big amounts, verifying early helps a lot.

Tax and Legal Considerations

Crypto gambling and taxes get confusing quickly. Here is a quick overview of what you need to be aware of:

KYC and Compliance

Casinos that are licensed follow AML rules and that means that the identity checks for large withdrawals are normal. Sometimes even the no KYC casinos perform these checks behind the scenes. 

Tax Reporting

There are some countries where gambling winnings are tax-free, however, crypto complicates things a bit. Once you deposit or withdraw crypto you might create a capital gain event if the coin has increased in value. That’s why you have to keep track of exact dates, amounts and fiat values. 

Troubleshooting Common Issues

Next up, we list the most common issues you might encounter during a withdrawal:

Slow or Missing Transactions

If your transaction is slow or missing you might need to check the blockchain explorer that’s using your transaction ID; and that’s because sometimes network congestion can delay confirmations.

Casino Processing Delays

It can happen sometimes that the delay is caused by the casino itself, and this can happen because of manual reviews, security checks or simply high traffic. You need to be aware that large withdrawals can take a bit longer.

Failed Transactions

These could sometimes occur due to either a wrong address or a wrong network, as well as not enough funds to cover the fees. 

Wrong Address or Network

Unfortunately, this usually means that the funds are gone; as we discussed earlier the crypto transactions can’t be reversed at all. 

Contacting Support

If you have the feeling that something is off, you need to contact support and provide your transaction and account details. It’s important to stay calm and factual here.

Quick Checklist of Do’s and Don’Ts

Withdrawal Methods Comparison 

Each of these options has its advantages and disadvantages. And we’ve seen it’s a common practice for players to withdraw to a personal wallet first and only then they decide what to do next.

Conclusion

Withdrawing from a crypto casino is not that much of a complicated process as most people would think. It’s actually a very straightforward one, once you finally understand how it works in practice.

You just need to complete a simple checklist and a pretty basic one. Again, verifying your account, double checking the network and wallet address as well as securing the wallet are the best simple practices that can help you later on.

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