Poker, online or live, is all about earning money. The common impression among all online poker players is that it is absolutely easy to deposit money and extremely difficult to cash-out. Why withdrawal isn’t as simple as the deposit? When it comes to the deposit, it takes just a few seconds to complete the formalities either through debit or credit cards and when it comes to withdrawal you just have to wait and wait to complete the formalities, sometimes take even a month to get the real money in an account that too after so many deductions. Why so?
Fortunately, the new poker sites are working aggressively to solve this biggest challenge of real-time settlement so that players could enjoy the game and remain free of the worry to see the real money in the bank account. If you are not sure about the cash-out your tournament prize money, then here are some of the basics. You need to understand these basics so that you could relax and enjoy the game:
- Limited Withdrawal Option
Just reach any online poker site and you will be mesmerized by the variety of options on offer to deposit the amount. All you have to do is provide your card details and the amount everything else will be taken care of. The balance of the deposit will almost immediately reflect in your poker playing account so that you could instantly come on the table.
The situation changes the moment you look for withdrawal options. The variety of options suddenly evaporate and you get very limited the few options to withdraw the amount. If you don’t have a registered account in the available options you have to create one to route your money to the designated account. The reason behind the limited withdrawal option is the country-specific regulatory limits and applicable taxation laws.
In some of the countries there is a limit on remittance clearance subject to forex adjustments. It real-time takes 5 to 7 days to get the clearance. Although the clearance system is automatic, if the issue is raised then it might take over a month to resolve the issue.
The challenge isn’t just the limited option to withdraw and regulatory issue, but the online poker site itself. You have to log in to your poker site first, and then reach to the “cashier” section to click on the “withdrawals”. This might, in most of the cases, will lead you to banking options, if that is allowed. Here comes the challenge, you need to enter the cash-out amount. If the amount isn’t matching with the post adjustments calculations, then you have to redo the whole process. If you are lucky enough, you have to click on the “submit” button.
Some of the points you need to know in advance about the withdrawal process are the minimum withdrawal limit, which varies from site to site and payments method wise. If all goes well with your winning amount will reach your account in 3 to 7 days period.
You are not the only one who is confused. Confusion is common by the terminology “net deposits” on poker sites. It doesn’t go well with the normal accounting understanding. According to online poker site rules, the net deposit means of your deposit different amount using different mediums. Then you can withdrawal will accordingly go to through the respective medium. Sounds like accounting chaos, but it is important to maintain the legitimacy of the fund flow from source to destination. This helps in checking identity, money laundering or any illegitimate acts.
It is a bit tricky as the withdrawal time depends on your locality, banking method, and most importantly the online poker site rules. Frankly, all reputed poker sites have a very robust money management system in place. The challenge arises at the banking end, where it is very difficult to make it quicker. If you are still operating in paper mode, then the wait could be little longer. This is because the courier will take sites own time along with the banking system delays.
In the contemporary world of daftar poker online, all serious players use e-wallet services. These services are provided by PayPal, Skrill, or NETELLER for easy and quick cash-outs.
Your withdrawal worries don’t end at finding better transfer options. You have several things like fees and processing problems to loom into. Almost all payment gateways have direct or indirect changes in the services, so it is better to inquire about the fee. Another big headache is the verification of the identity in online poker money withdrawal process. Not a big issue, but it becomes painful when you are waiting for your money.