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Withdrawal Limits at Online Casinos

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If you'’ve ever taken the trouble to truly read through all the fine print that online casinos feature on their website’s pages, you probably know about the payout limits. If you don’t, let me be the one to break the sad news for you: no, you can’t cash out as much as you would like to/win. There’s actually a well defined limit on how much money players are allowed to withdraw from online casinos. Doesn't that seem fair? It is fair indeed, and you’ll see why soon, but first let’s see how online casinos go about setting these limits. One way is to limit player deposits. Because the payout rates are obviously set, by limiting how much money players can deposit, online casino operators will implicitly limit the amount of money players will be able to cash out too. There’s only one problem with this approach: online casinos like their players to deposit as much as possible, so slapping a limit on player deposits is a bit like working against their own interests.

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The more common way to limit withdrawals is to just put a fixed limit on withdrawals, regardless of the amount players deposit.

Casinos say that they use these withdrawal limits to limit the amount of money players turn around at their site and thus to prevent problem gambling. While this explanation sounds nice, it is in fact a half truth if that only. The real reason behind the limit is a simple one. Let’s see a possible scenario: a filthy-rich player decides to make a $1 million deposit, then he takes his money to the roulette and wagers it all on red. He hits red and the casino owes him $1 million. God forbid he repeats the move with $2 million and wins again. By leaving withdrawal unlimited, the casino basically removes all limits from its own liability too. While the odds still work against the players, those who deposit monstrous sums and then proceed to win a simple near 50-50 bet can pretty much bankrupt the whole operation in one move. That there ladies and gentlemen, is the real reason behind why online casinos limit their payouts, and like it or not, one has to admit it is indeed a pretty solid and justified reason.

Wagers on individual games are limited too, for the same reason. Take slots for instance: players are limited in a variety of ways at these games. There are a limited number of paylines, there’s an upper limit on the number of coins one can wager on a spin and on the coin denominations too. Modern slot machines feature bonus rounds which can often be re-triggered. Another way to limit payouts is to limit the number of times this bonus round can be re-triggered. Since it is theoretically possible to re-trigger these free spin rounds a huge number of times, casinos had to something about them. The same goes for the gamble games featured by the various Video Poker and online slot games. There are exceptions from under the payout limits too, like the various progressive jackpots.

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