Most casinos reward their customers with welcome bonuses and reload promotions. While bonus offers are a common feature, it’s the varying amount for bonuses, and terms of conditions that make casino sites stand out.
As a serious punter, before deciding to deposit with a casino site, you should carefully analyse a company’s terms and conditions, and find out what lies underneath their bonus offers. Any missteps can lead to huge losses that you weren’t anticipating.
Max cashout restrictions
Most of these generous offers come with certain additional restrictions. You may be well aware of wagering requirements, but one restriction you might not have heard of before is the Max Cashout Restriction. Directly associated to welcome bonuses and high roller bonuses, the stipulation dictates the total amount you can withdraw from winnings. This means that a casino can cap the amount of cash you can withdraw from any of the winnings you get from bonus offers. Similar to the wager concept, max cashout restrictions can be enforced on most types of bets.
A max cashout limit can turn a decent bonus into an unfavourable one real fast. In retrospect, the restriction is limiting how much money you can win. To understand this, imagine you’ve won £3000 from a successful spin. But your casino has a cashout cap of £1500 on any winnings accrued from bonus offers. What happens is that you won’t receive 50% of your earnings.
As expected, the withdrawal restriction can be especially daunting to high rollers who win big. For the casual gambler, it may not be a huge deal, as they’re rarely placing bets of a lot of cash. But in the case that they win big, they may be hugely disappointed to discover that they can only cash out meagre increments over time.
No Max Cashout
There’s good news for high rollers though. With a spike in the number of high rollers betting online, some sites have lifted withdrawal caps and introduced ”No Max Cashout” promotions. As the name suggests, these are bonuses you can easily redeem with no limitations to the amount you can withdraw from their winnings. You’ll first need to clear the wagering requirements but, either way, these offers provide a great opportunity for players to earn as much money as they can.
As you’ve probably realized by now, No Max Cashouts are not too common. with the few sites where you’ll find this option, you’ll need to look further into their T&C, and confirm whether the online casino bonus can really be cashed out, and if possible, the total amount of earnings you can cash out. This information can be crucial when avoiding dodgy casino sites.
Another factor to consider
Withdrawal limits may vary from site to site – limits may be imposed either day-to-day, weekly or monthly. For example, a specific casino may be having withdrawal restrictions of £1500 every week. Punters, therefore, can only withdraw a maximum of £1500 in one week, and the remaining amount the following week. The amount limited for withdrawals is different in many sites, but generally, casinos prefer monthly limits of £5000.
It’s always a great idea to contact customer support and confirm such crucial details.