Imagine you are playing at your mobile casino, and after a few good rounds of baccarat you decide to spin a few reels. You pick a progressive jackpot and as the reels stop spinning, you realise you have just won a substantial jackpot. Your casino balance looks amazing, you have no wagering requirements from your welcome bonus left to fulfil, and you would like to buy something nice and expensive to celebrate. You request a withdrawal from your casino account…. But only then do you find out that there is a daily limit to the amount you can withdraw. At this rate, it could take you a month to cash-out all the money you need, plus you need to factor in the casino’s withdrawal times. Can you imagine the frustration?
Although this is a factor is often overlooked, when looking for the best Canadian casinos, it is important to consider the withdrawal limits. All casinos have some form of limit on the amount they will cash-out in any given transaction, but these limits vary. Your VIP status, your deposit history, the casino’s terms and conditions, and the payment method you use all influence the amount of money you can withdraw.
Benefits of Having High Withdrawals
The most obvious benefit to playing in a casino with high withdrawal limits is that you can get your hands on your money much faster. If you are a VIP or high-roller and regularly make big deposits and play high-stakes games, generous withdrawal limits are a must. However, even the average player could hit a life-changing jackpot and wish to make a big withdrawal.
Aside from reuniting you with your money quickly, there are other benefits to playing at high withdrawal casinos. This one is pure psychology. If you have your winnings in your hand, you may choose to spend them on any number of exciting things other than the casino. However, if your money is trapped in your casino account for weeks, and your winnings are trickled out slowly, it is much more tempting to play with that money than to wait to withdraw it.
Another benefit to high withdrawal rates is that you can reduce the number of transactions required to get your money where you want it. Depending on your banking method, this could reduce your transaction fees, as well as add a level of convenience. Why do something in ten steps if you can do it in one somewhere else?
Casinos with The Highest Withdrawal Limits
There is enormous variation in the withdrawal limits at online casinos. Factors like payment options, the casino’s terms and conditions and regulatory bodies all come into play, but we have found some of the best options to what is possible – and to illustrate the variation.
- Bet365: The maximum withdrawal at Bet365 depends on the banking method you select. If you use Visa or Mastercard, the limit is CA$40000, and the transaction is processed in 1 to 5 banking days. If you use Bank Wire to transfer your fund, you can withdraw up to CA$50000. Your withdrawal will be processed in 2 to 10 banking days. If you prefer quicker processing times, you can use Instadebit (24 hours) which has a maximum limit of CA$20000 or iDebit (24 hours) with a maximum of CA$9999.
- Spinit Casino: The maximum withdrawal at Spinit Casino is CA$22000 a month, and CA$5500 per week, which seems pretty restrictive. There is a big exception to this, though. If you win a progressive jackpot, there are no withdrawal limits. Also, if you are a VIP, you can get a higher withdrawal rate.
- Betsson: Like Bet365, the maximum you can withdraw at Betsson depends on the payment option you choose. If you use Bank Transfer or Trustly, you can withdraw up to CA$100000, but if you have selected Paypal or Entropay, you are limited to CA$8000 or CA$2500 respectively. Neteller allows you to withdraw up to CA$45000, and Ecocard is limited to CA$10000.
- Bitstarz: If you want a casino that will not limit your withdrawals, Bitstarz is the one to choose. A look at the casino’s payments page will show you that every payment method it offers (including cryptocurrency) has a transaction limit. These limits vary according to the payment method, but this does not mean that the casino has a policy of withdrawal limits. We contacted support to clarify the issue, and although there are limits in place for each transaction, you can request multiple transactions and withdraw as much as you want from the casino account.
Best Payment Methods for High Withdrawals
Most payment methods will limit the amount of money that you can move in a single transaction, with one notable exception. If you use cryptocurrency, you can move as much as the casino will allow you to. This is the only payment method that allows unlimited maximum transactions. Web wallets may be safe and convenient payment options, but they tend to have more restrictive transfer limits. Bank transfers will allow much bigger transactions.