Avoiding Reverse Withdrawals at Online CasinosBy: Rick Balding, Tuesday March 17th 2009
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Once players have completed the wagering requirements at online casinos have to allow players to withdraw their funds. Online casinos have a set procedure for doing that through the cashier of the casino. However, online casinos do not like players to withdraw funds. They would rather that the players use their winnings to wager at the casino. Hence they have set a trap for them. This is called the "reverse withdrawal" option.
Online casinos inform players that processing their withdrawals will take some time. Most online casinos create a window of between 24 hours and 48 hours for this. The reason given is that there is a waiting queue or that the procedure takes that much time. Actually the time provided is to tempt players to cancel their withdrawal. Once players request a withdrawal the amount is kept aside and players can neither use it in the casino and cannot get it in their account for the duration of the window. During this period they can exercise the reverse withdrawal option to cancel the withdrawal and immediately have the funds transferred back to their casino account and ready to wager. Many online players give in to temptation, exercise the reverse withdrawal option and ultimately lose all their winnings to the casino. The temptation is stronger if the player has just made a big winning. He often sees it as a bonus and not hard earned money and is tempted to reuse it for wagering. Another occasion when a player may give in to temptation is when there is no money in his casino account but a nice sum in the window waiting for withdrawal.
Exercising the reverse withdrawal option is a pitfall the player must avoid. The best way is to be strong willed and to follow the budget prepared for online gambling. But this is often easier said than done. Therefore players have to take a practical approach. One way out is to leave sufficient funds for use during the window period and withdraw the rest. This way they will not run dry during the window period. If the player has had a large win he can easily do this, but with smaller wins it may be more difficult. Another option is to avoid being around the computer during the window period. Take in a movie or go out with friends.
Many online casinos are realizing that the reverse withdrawal option does not fit in with the social responsibility of the online gambling industry. Therefore they are toning down the temptation offered. Some casinos allow players to put in a request to by pass the window and flush out the funds quickly. Other online casinos are reducing the window to 12 hours. Some of the best online casinos have done away with the window altogether and have made the withdrawal irreversible. But while it is there, reverse withdrawal is a pitfall that online players must not only be aware of but must ensure that they avoid.
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