Table of Contents
- What is an acceptable time to wait for a payout?
- Other reasons your cash payments could be delayed
- Why do some casinos try to delay the payout?
- Payout times by payment system vary significantly
- Payouts when you win a large amount of money
- Fastest Casino Payout in the World
- NZ Casinos with the Fastest Pay-out FAQS
What is an acceptable time to wait for a payout?
Payout methods are not uniform across all casino websites in NZ. However, all of the operators that we have come across allow its customers to claim payouts via Visa.
| Casino | Visa Withdrawal Period |
|---|---|
| Sky City Casino | 0-1 Days |
| Mr Play | 0-4 Days |
| Casigo | 1-2 Days |
| Captain Spins | 1-2 Days |
| Wazamba | 3-5 Days |
| Spin Casino | 3-8 Days |
| Dunder | 3-8 Days |
From this representative list, it is apparent that you should not have to wait for any more than three days from requesting a pay-out for this sum being returned to your payment card. However, there are plenty of establishments that enforce minimal processing periods for all pay-outs, at these platforms you can expect to see your card refunded within 48 hours.
Other reasons your cash payments could be delayed
There are several reasons that a casino might state as being the reason behind any payment delay. These range from the understandable to the unconvincing.
First, a casino might highlight that you have reached a pre-set pay-out cap at which point you need to verify your identity concerning Know Your Customer (KYC) legislation. Know Your Customer procedures are designed to ensure that crime in gambling and under-aged gambling is minimised. At the point that these checks are triggered, normally when you have requested pay-outs that total $2,000, you will need to upload copies of photographic ID, and letters that confirm your address. It may take up to 48 hours for your identity to be confirmed, during which time all withdrawal requests will be placed on hold. The good news is though, that once these checks have been completed they will not cause future pay-outs to be delayed.
Second, a casino may suspect that transactions that are being made from your account are ensuring a form of money laundering. If this is the case, your online casino provider may request additional details regarding the source of funding for your account. By doing this your casino can confirm that gambling profits in your account are not the result of criminal enterprise. Because the Malta Gaming Authority (MGA) is strict when it comes to ensuring that money laundering has no place in gambling and that most of the casinos that serve Kiwis are MGA licenced sites, New Zealanders are affected by these rules.
Third, casinos may come up with all kinds of outlandish reasons as to why your winnings cannot be withdrawn. Some of these stories might include the removal of promotional terms, the use of unfair gambling practices, or increasing minimum pay-out limits. However, all of these practices are unlikely to occur at an MGA licenced casino. So if you want a guarantee that your pay-outs will be completed reasonably, choosing an MGA licenced operator is always likely to be a good idea.
Why do some casinos try to delay the payout?
The only reason that a casino would delay your payment, once all regulatory checks have been concluded, is to hold on to your money for longer to ensure that payout requests are reversed. Sites that operate within NZ, including Spin City Casino, still have a ‘reverse withdrawal tab’. The ‘reverse withdrawal tab’ allows you to reverse any pay-out request within the processing period for pay-out claims to be verified. As casinos work on the assumption that they will profit (on average) the more you play on a site, it is beneficial for casinos to offer this service. It is expected that any win that you claim today will be reduced by tomorrow, as the return to player rate (RTP) on even the best-paying casino games is only 98%.
However, market forces will likely dictate that the ‘reverse withdrawal tab’ will be a thing of the past in the years to come. The United Kingdom Gambling Commission (UKGC) has already banned the practice of payout reversals, so this progressive step is likely to be exported to New Zealand via MGA licenced casinos in due course.
Payout times by payment system vary significantly
The other factor that often delays the process of you receiving your casino winnings is the time that it takes for transactions by different methods to be completed. Most casinos in New Zealand allow transfers by three types of methods. Cards, either debit or credit, although the UKGC has already banned the use of credit cards at remote locations, so this is another change that is likely to hit NZ at some point, e-wallets, or Bank Transfers.
Transactions that are performed by e-wallet tend to complete much quicker than Card or Bank Transfer payouts, so Best NZ Online Casino readers are strongly advised to set up a Skrill, NETELLER, or Much Better account to complete financial dealings with your casino.
| Method | Fee | Expected Withdrawal Time | Max Payout (NZD) |
|---|---|---|---|
| Visa | Free | 1-5 Days | 20000 |
| Mastercard | Free | 1-5 Days | 20000 |
| Maestro | Free | 1-5 Days | 20000 |
| PayPal | Free | 0-1 Days | 5500 |
| Neteller | Free | 0-1 Days | 5000 |
| Skrill | Free | 0-1 Days | 5000 |
| Paysafecard | Free | 0-1 Days | 779 |
| EcoPayz | Free | 0-1 Days | 5000 |
| Bank Transfer | Free | 2-10 Days | 50000 |
Although payout requests by Card and Bank Transfer take longer to finalise, this is perhaps not a surprise. These options also allow you to shift more cash, so it is to be expected that transfers completed in this way would move at a more pedestrian pace. However, unless you are being seriously optimistic (we all must dream), most of you will probably be happy to make do with using Skrill, Neteller, or EcoPayz for most of your payouts.
Payouts when you win a large amount of money
Big pay-outs tend to be covered by the terms and conditions that online casinos in New Zealand are guided by. In essence, there are a few different ways in which you can win at a casino. Either a fairly small sum from an in-house casino product, a huge win from an in-house casino product or a progressive jackpot win, that is paid in part by the software developer of the qualifying game.
The approach of Jonny Jackpot to this range of events is consistent with industry norms.
| Payout | Minimum (NZD) | Maximum (NZD) | Time Period |
|---|---|---|---|
| Regular Play | 10 | 5000 | 1-3 days |
| Progressive Jackpot | 10 | Unlimited | 30 days |
| In-house Jackpot | 10 | 99999 | 1-3 days |
| In -house Jackpot | 100000 | Unlimited | Up to 10 months |
Although Jonny Jackpot is reasonably flexible with the payments that it can make, business operations limit how quickly it can pay sums over $100,000. Perhaps, this should not be a surprise, $100,000 is a big sum of money for any business to find, although it does seem a little disappointing that you may still be waiting for some of your jackpot cash ten months into the future.
Fastest Casino Payout in the World
In New Zealand, most casinos advertise some form of processing period before pay-outs are guaranteed to be released. Megaslot Casino must be considered to be one of the best performers on this metric. Many of the pay-outs that are completed by this firm happen within six hours. Compared to some of its rivals, this is an express service. Although, as with all other casinos, this is dependent on the transaction method that you select. But, even at an expected one to three days for payment via Card or Bank Transfer, Megaslot Casino performs well.
NZ Casinos with the Fastest Pay-out FAQS
Are there any NZ casinos with withdrawals that take less than an hour?
Maybe. All casinos that serve the New Zealand market state that pay-outs are subject to a minimum processing period. Normally this period is listed as being a minimum of 24 hours. However, in reality, pay-outs tend to be made much quicker than these limits would suggest. Skol Casino and Megaslot Casino, both advertise that pay-outs from their sites should be processed within 24 hours. Therefore, pay-outs within an hour may be possible if you request payment via an e-wallet. Unfortunately, this cannot be guaranteed. But, in a worst-case scenario, your requested winnings should be with you within a day when you request a pay-out from Skol or Megaslot.
Do pay-outs have to go to the same deposit payment method?
For security purposes, this is normally the case. If pay-outs are paid to the same account from which a deposit was made, this ensures that winnings are paid to the right person. By paying to alternative accounts, online fraudsters could claim cash that is the property of others. As well as having a security benefit, returning pay-outs by the same method reduces the potential for money laundering to take place. If money is deposited by one method and paid out to another, the route by which money flows via casinos would become more complicated. If this was the case, criminals might look to ‘launder’ ill-gotten gains by passing these off as the proceeds of gambling.
Are online casinos trying to avoid pay-outs?
Most casinos see benefits in making pay-outs to their clients. After all, if you have been paid out by a casino once then you can surely make this happen again. Therefore, a pay-out can be great marketing for casinos, as you may come back next week and wager twice the amount that you have withdrawn this week.
However, there are a couple of steps that you may need to take to ensure that your casino is playing fair when it comes to its pay-out decisions. First, make sure that you are playing at a well-regulated website. MGA and UKGC online casinos have a great record when it comes to paying out customers when they should.
Secondly, check out the terms and conditions that a site operates by when it comes to pay-outs. Rules that relate to pay-out caps or wagering requirements are normally listed somewhere within the T & C’s. Often these are complicated documents to read which is why we try to alert you to any unusual clauses in our website reviews.
But, in essence, casinos may sometimes be slow at paying out, however, on the whole, most casinos are prompt payers when they are called upon.
If I win a lot of money will a casino pay out in one go?
If you win lots of money, from either an in-house jackpot or a progressive jackpot your pay-out will likely be spread over several months. One of the most common pay-out rules is that progressive jackpots over $250,000 will take up to 30 days to payout. For in-house jackpots, many casinos serving NZ reserve the right to pay these winnings over ten, monthly, instalments. It is, perhaps, a little frustrating that jackpot sums are sometimes drip-fed in this way. However, if you have been fortunate enough to land a six-figure jackpot prize, this is likely to be only a small inconvenience.
How do I know if the casino has enough money to pay me out?
One of the reasons that casinos have several conditions set out that relates to payouts, is that casinos need to ensure that they maintain sufficient cash flow to meet all of their liabilities. In addition to paying jackpot wins out over a series of months, casinos that are licenced by the United Kingdom Gambling Commission (UKGC) should also ensure that all player balances are ring-fenced. In essence, this means that all player funds should be held in accounts that are independent of those of the casino company and, therefore, players should be able to claim these sums if a casino meets any financial difficulty.