Okay, so you’ve gotten really lucky. You signed up for a deposit at an online casino, maybe gave them $200 New Zealand dollars as a deposit, and wonder of wonders, you’ve beaten the odds and have won anywhere from a thousand dollars to $10,000 or more. Now what. well, if you are not careful, you wait, and you wait, and you wait. The big difference for example between playing slots at one of New Zealand’s 5 brick and mortar casinos is that when you win, within a few minutes and after signing a few forms, you’ll walk out of the casino with a cashiers check within an hour that you can bank in any bank in New Zealand you wish. The country prohibited online casinos as part of the New Zealand gaming act of 2003, when it limited the 5 brick and mortar casinos and set a moratorium on the rest, including online casinos. The closest online casino with any reputation will probably be in Japan someplace, around 6,000 miles away. There are actually three things to be concerned with signing up for any online casino:
- One of the licensing authority
- Two, the reputation of the casino
- Three, the fine print on the casino’s website.
Let’s start with the licensing authority first. The vast majority of online casinos are licensed under two jurisdictions, the United Kingdom and Malta. Both Malta and the United Kingdom take their gambling licenses very carefully and will Yank a license if an operator does operate thoroughly and transparently. In addition, most Malta and UK gaming establishments are monitored by private groups, the biggest one in the world being eCongra. If a casino is licensed by either the UK or Malta and is also audited by eCongra, then this is a casino where you will need to have little concern about. However, a few bad ones do slip through, so even in the best of casino licenses, reputation is important. Most payment problems come from either unlicensed casinos, or casinos licensed by questionable countries, Panama and Costa Rica being examples. There, along with places in the Caribbean mean almost nothing, and you will rarely find a licensee audited by eCongra in the Caribbean, with Canadian Indian Tribes, or even outside the UK or Malta. So the first question you have to ask is if you really trust the casino’s operating ethics at all. And the second thing you need to do is read the fine details on their website. What kind of fine details are we talking about? The first is what are the payment limits. You say you won $20,000 on the latest slot machine Jose’s Casino in the Bahamas. Great, but read the fine details. Jose pays out a maximum of $5000 per week. So it will be a solid month before you get paid off on your winnings. What about processing time? We don’t know why a fast payout online casino can process their deposit in 2 days or less, but it takes a week to 10 days to process, but it could be in the fine print. Another concern is player verification. Be sure you meet all standards for playing at the casino from New Zealand because some online casinos only start the verification process when you win, or win at a certain dollar amount.
If the casino determines that you do not meet its requirements for playing, then guess what, you won’t be paid at all. Not only will the casino close your account, but they may keep your deposit as well. This happens with a great many Caribbean casinos. And it’s important to realize that the vast majority of licensing authorities do very little step in between casino and customer problems. Another element is to read in the details the form of payment. Generally, if you deposited by credit card or by eWallet, you will be paid off in the same manner, within a day or two. Some casinos, however, do not make their own payments but rather rely on third-party processors. Many of them do this to get around strict gambling laws. For example, if you receive a payment for $7,000 from EZ payment processors, it could be for an internet purchase rather than from a casino that may be regulated. This may be of actual advantage to online gamblers in a few strict countries, but they should tell you upfront, processing will take 7 to 15 days. Always read the details before even making a deposit. In general, if you have won a big payout in slots, you should expect to be paid within 2 or 3 days at the most. These fine details are vitally important for you not to be very disappointed with your online gambling experience.