A commission is due when a casino player chooses to withdraw funds from their online casino account. True, there aren't many online casinos that have this regulation in place. But it is possible to run into casinos that charge withdrawal fees frequently, so here are some things to consider:
At physical casinos, a middleman is not required. All you have to do to start playing is walk up to the casino cashier, pay over your money, and get your chips.
For obvious reasons, it would not work in online casinos, thus you must transfer your funds to an online casino via a payment method.
In some ways, a payment system is similar to a traditional bank, but it provides fewer services to its customers. A payment system typically simply handles online payments and does not offer credit or other financial products. At least a handful of them have probably already come across you. Neteller, Skrill, Ecopayz, Visa, and Mastercard are a few more that stand out.
An online casino player must first open an account with a particular payment method before using its services. Once it is complete, they will be able to send and receive money.
Payment systems, like any other business, charge a fee for each transaction they process. To make money is why they are in business.
My own experience is that fixed fees normally range between 2-10%. It spans a wide range, and particular figures depend on:
No one disputes the need for fees for payment systems, so why are they so expensive, especially in the gaming industry? Those are primarily brought on by:
As a result, hefty commissions are required because there are still a lot of risky players online and payment systems would not be able to operate without paying higher expenses than those levied in other industries.
Ultimately, it's the casino player who foots the bill. Even if an online casino doesn't overtly charge a withdrawal fee, rest assured it's factored in somehow. This might manifest in less attractive bonuses and promotions, for instance.
So, don't be disheartened by withdrawal fees; they're part and parcel of the online casino landscape. Everyone pays them, whether explicitly or hidden in other ways.
One final piece of advice: always scrutinize a casino's withdrawal policy before making a deposit. These rates can vary greatly from one casino to another. While some venues may have relatively low fees, around 1-2%, others could burden you with charges as high as 10%.
Author: Cliff Benton