Whether you’ve made a big score in a poker tournament, or you’ve just been grinding out profits at the cash game tables, there’s going to come a time when you want to withdraw your winnings and enjoy the fruits of your labor.
But sometimes, making a withdrawal from a poker site can seem like a huge hassle. After all, it’s not like you can just take your chips to the cage and ask for cash. Instead, you’ll have to pick from various withdrawal methods that vary in their speed, reliability and availability. If you’re unsure about how you’ll get your money after raking in a monster pot, we’ve outlined some of your best options below.
Before you make a withdrawal, you may have to take some steps to confirm your identity and address with the poker site. This process can sometimes take weeks to finish, as you send documents to the poker room and wait for them to be processed. In reality, the process of confirming your identity isn’t painful at all; however, if your online poker room requires you to file paperwork before you make any withdrawals, it’s probably best to do so when you first sign up with a new room – that way you won’t have to wait later on when you’re ready to spend your winnings.
Bank Transfers
One of the simplest methods for getting your money from an online casino is to have them wire the money directly into your bank account. When this method is available, it has several advantages. For one, it’s often the fastest way to get your money into your bank account, if that’s where you ultimately want it to go. There’s no middleman, and nowhere for the money to get lost or slowed down.
In some cases, there may be fees for bank wires or transfers. In general, these fees (if they exist at all) tend to be small, though, especially if you’ll be transferring large amounts of money. In most cases, you can expect to receive your funds with a week or so of making your request.
E-Wallets
An e-wallet site (such as NETeller or Moneybookers) is an excellent solution for both depositing and withdrawing money from online poker sites. If these sites are available to you (which, unfortunately, is not normally the case for American players), it’s likely that they’ll be the easiest way for you to move money between sites. Since you can also use an e-wallet to move money into your bank account or fund your online gambling accounts, they offer you a lot more flexibility than other options.
Checks
Another popular option at many online poker rooms is to receive your winnings by check. Of course, checks are a relatively slow option; between processing the check, having it mailed to you, and having the check clear your bank account, it can often be 2-3 weeks or more before you can start using the money you’ve withdrawn.
If you’d like to get your money via check, but don’t want the long wait, many sites offer a couriered check option. This allows you to receive your check in just a couple days, rather than a couple weeks. However, this will usually come with additional fees in exchange for the convenience of having your money arrive much earlier.
Many online poker sites also offer alternative methods for withdrawals. If none of the above options will work for you, chances are that your site of choice has additional choices such as prepaid cards and vouchers that you can use to receive your money.