How it works
In general, the money transfer side of online gambling is very similar to other e-commercial transactions online. The sites from which you buy goods online normally expect that you register with them first and then choose from their range of payment options to pay for your purchases. Once you have made your choice and confirmed the amount you want to pay, your money gets transferred into their account.
Well, exactly the same basic procedure is followed at online casinos: you register with the site and transfer money to your casino account so that you have that amount available to bet on the games. You can also accept the payment of your winnings at online casinos in very similar ways as you would accept payment for goods or services you offer online.
To set up an account at casinos online, you normally have to do the following. Procedures may depend among others on the legal requirements of the country where the site is registered:
- Create a username and password.
- Provide and supply contact information (e-mail address).
- Supply identity information: you may have to supply valid New Zealand identity information (ID, passport or driver’s licence number).
- You could also be asked proof of residence. It will be used during the identity verification process and will enable the casino to establish whether you are indeed of legal gambling age and the person you claim to be. Normally the casino will accept the relevant information via fax or e-mail. Some have a direct interface where you can upload scanned documents.
- Choose a payment/money transfer option. Choose carefully, because at some casinos it may be difficult to change it later. If the payment option allows deposits, but not withdrawal facilities, you may have to wait longer for your winnings to be paid out to you, because the casino may then possibly use a more time-consuming method such as cheque payments into your bank account. If the casino promises quick pay-outs, but do not clearly state which options can be chosen for the payment of your winnings, be careful about registering with them at all.
- Once you have completed the registration process and agreed to their terms and conditions, you would normally receive an e-mail from the online casino to verify your e-mail address and another to confirm that your account has been successfully created. This is similar to the procedures you would follow to register at any other website where you purchase goods or services online.
The payment options at online casinos generally include these categories:
- Credit cards and debit cards issued by reputable companies such as Visa and MasterCard are accepted by most reputable online casinos. They are popular because they can offer both deposit and withdrawal options. Check whether the online casino you have chosen does offer both.
- Electronic wallets or e-wallets act as intermediaries between your bank and online gambling site. You do not have to enter your credit or debit card details at the casino. The best-known e-wallets ones are NETeller, PayPal, POLi, and Skrill (previously known as Moneybookers). Most e-wallets can be used for making deposits as well as for withdrawals.
- Prepaid vouchers such as Paysafecard are gaining popularity and can be bought online or at offline outlets. They allow both deposits and withdrawals. Each voucher has a unique PIN number which you can enter together with the amount you wish to transfer. Similarly, if you want to withdraw money, the participating online casino will send you a code that you can use to collect your funds in cash or online. Prepaid vouchers can help you manage your bankroll, because you cannot spend more than the value of the vouchers you have purchased.
Transferring funds into your account normally works as follows:
- Go to casino cashier and select the ‘deposit’ button.
- Select the payment option of your choice.
- Type in or select the amount you want to deposit.
- Confirm the transaction and wait for it to be processed.
So you have won a nice sum of money and you want to have it paid out to you. How does this work? Most online casinos promise fast pay-outs, but you have to ensure that this will be the case: familiarise yourself with their policy regarding pay-outs (such as their play-through requirements, and the minimum withdrawal amount since some casinos have a minimum withdrawal amount that is higher than the original deposit amount.) Also remember that international sites are not governed by New Zealand laws: any disputes will be settled according to the laws of the country where the website is registered.
Pay-out procedures of your winnings normally work as follows:
- The relevant amount of your winnings is credited to your player account.
- Choose the payment option and account where your funds should be transferred.
- As long as the amount exceeds the minimum withdrawal amount, the funds are then deposited to the relevant account.
- For large amounts, you may have to provide proof of identity before you can withdraw your winnings.
Our researchers at gambling.co.nz ensure that the important things are covered by our recommended sites: they all offer a range of payment options that are convenient to Kiwis and also have good customer support to help you with your money transfer issues. All our recommended sites have pay-out policies that are fair and reliable.