Online Casino Payouts - KYC: Rules & Essential Guidelines
Learn how to withdraw winnings from online casinos, understand KYC procedures, and follow essential rules for a smooth payout experience.
Learn how to withdraw winnings from online casinos, understand KYC procedures, and follow essential rules for a smooth payout experience.
The General Terms and Conditions (GTC) stipulates which countries the casino accepts players from and the minimum age. Furthermore, it can impose special exclusions or requirements towards certain groups, for example towards politically exposed persons.
It is important that most casinos only allow one account to be opened per person. What's more, there are casino sites where only one account is allowed per household or internet device, even if it's for different people. A related stipulation may be that we do not open an account from a public device - such as a library computer - or from public networks. Many casino sites also prohibit the use of encryption/hiding methods such as VPN.
It is extremely important to open an account only in our own name and with our own personal data. What's more, the data entered here must also match those shown in our documents, as the casinos will check these during the account authentication step.
In addition to the General Terms and Conditions, there is usually a list of conditions related to money laundering on casino sites, which imposes additional conditions on deposits.
One of the most important things is that you can only play with your own money. Also, the instrument/account used for payment must be in our own name. The casino will also check this during the account verification step and will ask for documents to prove it.
The name on the identity documents must match the name on the means of payment. In this regard, the casino sites are very strict and do not allow exceptions, such as a deposit from a close family member.
Although the rules may differ from casino to casino, in general it can be a problem if someone uses their names interchangeably, such as their maiden and married names. It is also important that casino sites can ask for proof of the source of our income.
The third important topic is bonuses. The terms and conditions for bonuses are quite varied, but there are also a few common and important categories here.
First, bonuses almost always come with a wagering requirement and an expiry date. If we do not meet the wagering requirement before the expiry date, the bonus and any winnings from them will be forfeited.
The wagering requirement also requires us to bet as many times as the value of the bonus (not at once, but as several small bets). This multiple is typically between 15 and 50 times the value of the bonus.
There are casino sites where the wagering requirement is based not only on the bonus received, but also on the real amount paid to obtain the bonus and the bonus together. There are also bonus offers where the actual amount paid is also credited as a bonus balance.
It is also common for there to be regulations on which games you can play and the maximum bet you can use when using the bonus. On some casino sites, we cannot use a new bonus if there is a previous active bonus on our account.
Some casinos also set rules regarding the style of play, for example the banning of a strategy that involves winning a big prize with a big bet and then changing bet levels to small so the wagering requirement can be met.
Casinos require KYC completion before payouts. Document requests vary, but typically include identity, address, and device ownership proof. KYC processing takes a few days, followed by payment authorization, which may also take days. Payout duration depends on the casino, payment method, and prize size. Check the General Terms for big prize provisions, including installments and upper limits.
We made a detailed video about completing the KYC process, so check it out!