Do casinos release big wins instantly?

[LUCKMCFLY]

I believe casinos request additional information from the customer in cases of high-value withdrawals. I remember that some time ago a player won millions of dollars in a casino that had signature campaigns, and he experienced a delay in receiving the payment. He even opened a thread asking for help. The delay probably happened because the payment had to be made manually by the casino owner, since no one would leave large-amount payments on an automatic system, the risk is too high.

I agree with you, that's how things are for casinos now. KYC makes everything work that way, although it's not as relevant now KYC and the whole process has several levels, and that's what can cause delays when the amounts are high and the player hasn't complied. That's one reason for not releasing so much money automatically.

[nullama]

~snip~
I agree with you, that's how things are for casinos now. KYC makes everything work that way, although it's not as relevant now KYC and the whole process has several levels, and that's what can cause delays when the amounts are high and the player hasn't complied. That's one reason for not releasing so much money automatically.

Yeah, that's how casinos work these days, they have different levels of KYC.

For normal operation of a few dollars they don't really bother.

But when they pass a certain threshold then there is a higher KYC operation.

[Ziskinberg]

But when they pass a certain threshold then there is a higher KYC operation.

Have you ever experienced being asked to submit documents for KYC after hitting a big win? If you did, kindly share what they required. From what I’ve read, an ID is just the basic one. There’s also a selfie, and sometimes they ask for proof of address and a bank statement. Just want to confirm.

[shasan]

I believe casinos request additional information from the customer in cases of high-value withdrawals. I remember that some time ago a player won millions of dollars in a casino that had signature campaigns, and he experienced a delay in receiving the payment. He even opened a thread asking for help. The delay probably happened because the payment had to be made manually by the casino owner, since no one would leave large-amount payments on an automatic system, the risk is too high.

I think almthe user has a insyant withfrawal limit to avoid unexpected happenings.the withdrawal limir might be change i mean vary pkayer to player base on the deposit, withdraw, wager and so on. I think the limit and delay ztands for the fumds of the site as well as users.

[Kelward]

Please share your experiences so we can be aware..
And if there are any requirements aside from KYC, let us know so we can prepare for it in case we get lucky and hit the jackpot in the future.

There's no particular way every casino uses in paying their customers when they win huge amount of funds as this depends a lot on the financial capability the casino management. For those well established casinos that are big with dominance in the industry they can pay almost any amount at once, and this what has made me gamble more with casinos like them than I usually do with newly grooming casinos who will want to pay some huge wins in instalments.

I don't think there are standard rules regarding the timeframe for paying out big wins, it will mostly depend on the capability and reputation of each casinos. A casino that has built a solid reputation and have enough backup funds will not hesitate to pay big wins almost immediately so that the gambler won't report them whereby putting question to their ability to pay as at when due. But a new start-up casino that hasn't got a solid backup funds will inevitably delay huge payments for obvious reason that they don't have such funds. A scam casino would find an excuse not to pay big winners, they will give ridiculous excuses. Best to gamble on reputable casinos for rest of mind Incase you win big.

[UmerIdrees]

I believe casinos request additional information from the customer in cases of high-value withdrawals. I remember that some time ago a player won millions of dollars in a casino that had signature campaigns, and he experienced a delay in receiving the payment. He even opened a thread asking for help. The delay probably happened because the payment had to be made manually by the casino owner, since no one would leave large-amount payments on an automatic system, the risk is too high.

I agree with you, that's how things are for casinos now. KYC makes everything work that way, although it's not as relevant now KYC and the whole process has several levels, and that's what can cause delays when the amounts are high and the player hasn't complied. That's one reason for not releasing so much money automatically.

KYC is just a secondary thing and for most of the trusted casino, they will only allow us to play there if we do the KYC. 

And as far as the big withdrawals are concerned, the honest and good casino have no issue processing withdrawals because they operate fairly and are here in the industry for the long term business. It is only the new or untrusted casino, that may block the big withdrawals.

[LUCKMCFLY]

But when they pass a certain threshold then there is a higher KYC operation.

You're right, but it's now. Before, I remember there wasn't such a thing as KYC, and I think there would have been more players because they liked to play, spend a lot of money, and maintain their privacy Now things aren't like that. I think that level of KYC has left many players out of this sphere of fun.

[Lida93]

Snip

I don't think there are standard rules regarding the timeframe for paying out big wins, it will mostly depend on the capability and reputation of each casinos. A casino that has built a solid reputation and have enough backup funds will not hesitate to pay big wins almost immediately so that the gambler won't report them whereby putting question to their ability to pay as at when due. But a new start-up casino that hasn't got a solid backup funds will inevitably delay huge payments for obvious reason that they don't have such funds. A scam casino would find an excuse not to pay big winners, they will give ridiculous excuses. Best to gamble on reputable casinos for rest of mind Incase you win big.

Actually there's no set standards for it and how the casino decides to pay big wins is a discretion in the hands of the casino base on their capacity as you rightly give it. And this is why it's very crucial to play at reputable casinos with big capacity that have lasted for very long if you're that gambler that mostly gamble to win big profits. Casinos like Stake.com wouldn't drag back from paying their customers any big win because they have the capacity.

[LucyFurr]

They should, and big casinos will not have any problem with that in my opinion. I often watch the recent bets and people bet like in thousands of dollars and get their results immediately but we don't know that they can able to withdraw it successfully. While we can assume that they have no problem withdrawing those funds that is why they are ready to deposit that big amount on the casinos they are playing.

[Onyeeze]

A casino that have a license will release money instantly for you but I don't have such Faith in some casinos that does not have a license they can operate on any way and they can do whatever thing in this side and I believe that there are the one that to give casino those casinos that does not have a license, so that is why many people does not like to operate or to gamble with a casino platform that is not well registered or well known by the government, oh we have so many casinos that is capable to release whatever thing that you won from the platform

[AakZaki]

I personally have no experience with this, as I have never won big or hit a big jackpot. However, from the experience of my friend who once hit the jackpot and used his winnings to buy a car he never had any problems with KYC or anything like that when withdrawing funds.

So in my opinion, the gambling site that is actively promoted here will not make it difficult for its users when it comes to getting big wins.

[nullama]

~snip~
Have you ever experienced being asked to submit documents for KYC after hitting a big win? If you did, kindly share what they required. From what I’ve read, an ID is just the basic one. There’s also a selfie, and sometimes they ask for proof of address and a bank statement. Just want to confirm.

Most websites that I've seen seem to have different levels of KYC, each one more strict than the other, allowing withdrawals larger in size.

Basically for normal operation they need a basic one, but say, you want to withdraw a massive amount of money, they need to have a better KYC.

Maybe not every website is the same, but that's what I've usually seen in exchanges for example.

[imthegreat]

I don't know how it works at all casinos, but the ones I've encountered in my life never pay out very large winnings all at once, in one payment. It's because they spread the payouts out over several years.
Although when I first heard about this, it was very strange, and I still don't understand why such a brazen practice takes place.
But on the other hand, the casino winner has no choice: either this way or they get nothing at all. And often, some casinos (state-owned ones) even force the winner to reveal their identity by holding a sign with the casino's name in their hands.

[bakasabo]

I don't know how it works at all casinos, but the ones I've encountered in my life never pay out very large winnings all at once, in one payment. It's because they spread the payouts out over several years.
Although when I first heard about this, it was very strange, and I still don't understand why such a brazen practice takes place.
But on the other hand, the casino winner has no choice: either this way or they get nothing at all. And often, some casinos (state-owned ones) even force the winner to reveal their identity by holding a sign with the casino's name in their hands.

Can the reason why they spread payouts over several years be done because of taxes? Can this be connected to «if your annual income is above <amount> you pay that <%>; if it is below <amount> income tax % is lower. For casino and gambler it is more profitable to receive spread payout, than receive whole amount at once and pay increased tax.

Regards «either this way or you will get nothing at all» - I wish to know which casino did that, because that seems illegal. I am sure that there cant be such one-sided solution.

[Beparanf]

I don't know how it works at all casinos, but the ones I've encountered in my life never pay out very large winnings all at once, in one payment. It's because they spread the payouts out over several years.
Although when I first heard about this, it was very strange, and I still don't understand why such a brazen practice takes place.
But on the other hand, the casino winner has no choice: either this way or they get nothing at all. And often, some casinos (state-owned ones) even force the winner to reveal their identity by holding a sign with the casino's name in their hands.

Can the reason why they spread payouts over several years be done because of taxes? Can this be connected to «if your annual income is above <amount> you pay that <%>; if it is below <amount> income tax % is lower. For casino and gambler it is more profitable to receive spread payout, than receive whole amount at once and pay increased tax.

Regards «either this way or you will get nothing at all» - I wish to know which casino did that, because that seems illegal. I am sure that there cant be such one-sided solution.

Nope, it’s not about tax since casino pay taxes based on their profit not including their loss.

The only reason why casino spread payouts is because of insufficient bankroll. They are trying hedge their loss by splitting the profit distribution and rely from profit to other user to come in then use it to pay on big wins.

Also, there’s a chance that user who won big amount will play back again what he won through partial payout instead of big payout. Big casino always payout big win in one go.

[Bitcoin Smith]

I don't have the first hand experience of winning an amount that is too big for the casino to go bankrupt or anything but I won like $700 or something from slot and I withdrew immediately on a casino and I had no issue withdrawing them to my wallet, it went so smooth just as always. And the same thing works for big amounts too in my opinion unless the casino find any suspicious changes in the way of betting like the user deposit big amount and wager on games with lowest odd which almost resembles the laundering attempt that is when the casino will ask for KYC, proof of funds and many other things.

[NurseHub]

I have no idea about the huge range you are talking about, but I think they will possibly take some time, not like the regular small winning. But I also don't think it will not take 24 hours. Except you have some challenge with your KYC, the bet company will make you fill it out before you can take your win. Sometimes it depend on the casino involved. Some betting company will even want to take some picture with you and use it as a means of positive ads. With this they can waste your time. Another thing is, some wasting of time in some local bet center is, they actually doesn't have such amount of money, so when you win, they waste your time to buy themselves time to give you your win.

[LFC_Bitcoin]

No casinos usually don’t release big winnings instantly. Large payouts are often checked and verified first to prevent fraud or errors. This can take anywhere from a few hours to several days, especially for jackpots. Smaller wins are usually paid right away but big wins almost always involve extra approval and paperwork.

[hedgeh0g]

I don't have the first hand experience of winning an amount that is too big for the casino to go bankrupt or anything but I won like $700 or something from slot and I withdrew immediately on a casino and I had no issue withdrawing them to my wallet, it went so smooth just as always. And the same thing works for big amounts too in my opinion unless the casino find any suspicious changes in the way of betting like the user deposit big amount and wager on games with lowest odd which almost resembles the laundering attempt that is when the casino will ask for KYC, proof of funds and many other things.

I also haven't won very large sums, so I initially bet small amounts because I can't allocate more to gambling because I have a family to support. But I've heard of friends who have had different situations. For example, when one of them won a large sum, the casino simply wouldn't let him withdraw it all at once because the rules stated that he could only withdraw a certain amount per day and no more. He ended up having to withdraw his winnings every day for several weeks, which, of course, didn't improve his mood much, despite his winnings.

[Numeral]

I don't know how it works at all casinos, but the ones I've encountered in my life never pay out very large winnings all at once, in one payment. It's because they spread the payouts out over several years.
Although when I first heard about this, it was very strange, and I still don't understand why such a brazen practice takes place.
But on the other hand, the casino winner has no choice: either this way or they get nothing at all. And often, some casinos (state-owned ones) even force the winner to reveal their identity by holding a sign with the casino's name in their hands.

The system whereby casinos pay out winnings over several years is understandable, as they are not prepared to give away all their income and be left without revenue, so they have to resort to such maneuvers. But as for publishing the identity of someone who has won at a casino or lottery, I think it's simply dangerous and distasteful on the part of those who do it, whether it's the state or a private casino. The only reason it might make sense is if the winner themselves wants publicity, their moment of glory. But I would emphasize that this has now become extremely dangerous. People sometimes lose their heads in pursuit of profit and are willing to commit any crime to get their hands on big money.