You will see that some of the casino reviews on CasinoManual.co.uk mention reverse withdrawals or reverse pending time. There are reasons why certain online casinos use the reverse withdrawals feature – this article will look at the advantages and disadvantages or reverse withdrawals and explain when you should use this feature if at all.
What is a reverse withdrawal?
A reverse withdrawal is basically a feature online casinos deploy for players to reverse the decision to withdraw their funds from the casino itself. Many online casinos use this to their advantage though in the hope the player cancels their withdrawal request and loses that amount back to the casino.
Some online casinos will wait 24-48 hours
Online casinos typically hold a player’s withdrawal request for a certain period of time (normally between 24 and 48 hours). The main reason why they do this is because they need to verify the payment and process thousands of other payments to players – this gives them the necessary time to perform any security checks if possible. The better online casinos will process cashout requests within hours – such as Videoslots Casino.
Consider bonus hunters
In terms of security, there are many bonus hunters and abusers who will open multiple accounts in order to take advantage of the bonuses on offer. There are also players who use stolen credit cards for example or attempt to launder money. This is why identification documents are normally required on a player’s first withdrawal – see our article on ID verification for more details. The terms of their UK Gambling Commission license requires these checks take place to ensure they operate a robust and transparent company.
Fees come into play
In terms of processing withdrawals, casinos have to pay fees. These fees can be quite high so minimising the number of payments that leave the casino is a good thing in their eyes. The reverse pending feature will minimise the number of cashout requests they receive and therefore lower their costs.
Online casinos naturally want you to lose
The main issue when it comes to reverse withdrawals is that online casinos use this to keep as much money in the casino as possible. Their aim is to make money (only natural) and the more cashouts that are cancelled, the higher the chances of the players losing that money to the casino. Players obviously want to cashout their winnings but it comes down to psychology.
If the reverse withdrawal time is quite long, players might not want to wait for that length of time for their cashout and cancel their payment request. This is exactly what casinos want, ideally, as they will probably lose their money. Having a pending period where the payment request is being looked at is very tempting for players.
Stick to your guns
Obviously, a lot depends on you as a player. First of all, you need to have self control. If you are not disciplined, you will more than like reverse your withdrawal and lose your funds. If you win, you should request a withdrawal and stick to it. Perhaps you should withdraw most of your winnings and leave a small amount in your account to play with. This small amount will be enough to keep you going and not tempt you into reversing your withdrawal.
Some online casinos process cashouts automatically
Another thing to do is look for online casinos that do not offer a reverse withdrawal feature – this is very rare but we found that Paddy Power Casino will not reverse a withdrawal once it’s been requested. This is fantastic and great if you are tempted to reverse your withdrawal.
Flush your withdrawal
The final tip is to manually flush your withdrawal. Manual flushing means that you flush your casino account and therefore leave no funds in there. If you flush your account, you will then not be able to cancel your withdrawal at all. At 32Red Casino for example, you can set your own reverse withdrawal time which is great but you can also flush your account after an hour of your payment request. This is a great attitude to responsible gambling. If you feel that you cannot wait until the reverse withdrawal time ends, you should flush your account to ensure your cashout goes ahead.
Lock your withdrawal request
Online Casinos are looking out for players now – if you take Casumo Casino, they allow you to lock your withdrawal request. This means that you won’t be tempted to play with your winnings so you get what you’ve won.
It may benefit you to cancel your withdrawal
Contrary to the above, there are advantages to the reverse withdrawal feature. Some online casinos send promotions to their players and you may not see a particular promotion that interests you in the time you request a payment. It may be easier to reverse a withdrawal than deposit again.
Another advantage is limiting your fees if you are using an e-wallet solutions such as NETeller or PayPal. Withdrawing from NETeller or MoneyBookers to your bank account will normally incur a small charge so reversing your withdrawal will minimise these fees naturally. Finally, you may decide you want to play another game and have in fact requested a withdrawal. Cancelling the withdrawal is certainly easier than waiting for the payment to hit your account and then redeposit.
It’s all about self-control
We are is ok with reverse withdrawals as long as you have control over yourself and your finances. If you are not strong willed and can easily see yourself losing your winnings quickly, we highly recommend you flush your account or don’t use the reverse withdrawal option. We also recommend playing at casinos such as Casumo Casino, Paddy Power Casino and 32Red Casino who allow you to choose your own destiny. Online casinos that come from sports betting backgrounds tend to process payments quicker.
Whilst there is no definite answer regarding reverse withdrawals, they can used to your advantage as well as being a way for you to cancel your withdrawal and lose that money back to the casino. Our independent casino reviews highlight the reverse withdrawal times as well as if they offer a manual flushing option (where applicable).
Any thoughts or opinions on this article?
Tell us your experiences and whether you find reverse withdrawals useful or a hindrance. Contact us – we’d be more than happy to hear from you.