How To Withdraw Your Money if an Online Casino Closes?

Why do Casinos Close Down?

The online casino industry is a for-profit business. Like any industry in the business world, some brands succeed while others fail because of competition. This might happen even when a casino has excellent services, a good eye for detail, excellent customer service, and wonderful offerings at their facility. The most common reason a casino closes down is that it is no longer profitable - it is no longer making money. 

It is crucial for a gambling company's financial footing to be strong. This is probably the main requirement of the gambling commission, and it assesses this before handing out a licence to a gaming site. However, keep in mind that all online casinos will hold their money and the members’ money in separate accounts. Companies don't use their customers' money for their payments and transactions. Your money is not put at stake in the event of closure - they will be able to return the money players have in their accounts. 

Sometimes, websites simply stop accepting players from specific countries like New Zealand or the UK. This only happens because gambling laws change and certain restrictions are placed. For example, players from Australia are not allowed to play at all online casinos. So if you've been having trouble logging into your account, it might just be that your luck has run out. 

Lastly, closures might only be temporary. It is common for websites to be updated for increased compatibility with browsers or to improve their functionality. After all, we all like fast-loading sites that are well-optimised. This also happens when the casino has changed ownership. The new owner might be revamping the casino to put his stamp on it and improve the customer experience.

Black Listed Casinos

If a casino loses its licence, it is blacklisted by the online gaming community immediately. Casinos lose their licences for misconduct, which results in an almost immediate revocation of their licence. You can conduct a quick Google search to find out which online casinos have been blacklisted and in what manner. 

How Can I Make a Withdrawal From Closed Casinos?

The first thing that comes to everyone's mind when they hear of a casino closure is: what will happen to my winnings and bonuses? Don't worry; there is a chance that you can still access your account. Additionally, the casino is aware of such a decision's impact on its members. A player works hard to earn that money; some game bets have paid off while others have failed - they are understandably attached to their money, whether earned from poker or online slot games. It wouldn't be fair if someone took it away without giving them the ability or option to withdraw their funds safely and securely. 

Therefore, the casino will take appropriate measures to mitigate the effects by sending out a notice via email or text to notify you beforehand. All players will get a message with a deadline to withdraw their winnings. You usually have a month or more to complete the process. For instance, you might receive the text on the 1st of January to complete your withdrawal by the 2nd of February. 

If you want more information, the first step is to call the helpline for a consultation. Every customer support helpline has operators to help you sort out a problem and guide you. You can prepare a list of questions to ask the operator - jot down all the information on a piece of paper, so you don't forget. You can ask about the withdrawal limit, the steps to withdraw the money, the options for withdrawal, the fees, whether you need some documents, and whether you need to do it on a computer or the app on your phone. You can inquire about everything that will make the process seamless and retain security and privacy. State any concerns you may have and ask for advice. The operator is responsible for putting your mind at ease, so take your time until you are content with the information you have.

Do not disclose credit card details, account details, balance, or the amount of money in your account. It's not safe to do so - you could put your account at risk. 

On the other hand, if you have cash in your account, simply do your part and log onto the account timely and place a withdrawal request. Make sure your account has been verified with proper identity documents according to the guidelines - you don't want an issue at the last moment, prolonging the process. 

If there was any change in your account details, they should have been sorted out earlier. Wait for the confirmation that the withdrawal is sorted. The payment process should not take very long. Immediately deposit the money in your account. At times like this, check the statement for any discrepancies beforehand. You must do everything in your control to make sure.

On the other hand, sometimes casinos are closed immediately - the gambling commission might have closed them by force due to harm, or they might not have complied with the licensee's code of conduct. But that does not mean that your money is lost. If you are in this position, keep a calm head. The casino will make some provisions for its members. If you find out the casino has been closed immediately, do the following things:

1. Check the website for more information.
2. Have they provided any details about the closure? Have they explained on what basis the casino has been shut down?
3. Have they given instructions or suggestions about what to do following the closure?
4. Is there an email address or number for customer support? There is always at least one email listed on the website.

Reputable casinos, especially those licensed by the European Union, tend to handle this situation very well, so you do not have to worry too much. Their response is very swift in the event of a ban because they do not want to lose consumers in the industry. So, even when it feels like you can't do anything to recover your money, there is hope. If you don't find a list of instructions on the website or can't get a hold of someone in customer service, you can approach the licence provider directly. Gaming authorities are well prepared to deal with these situations because they have controls in place to avoid a negative effect on the industry due to misconduct and scams. A casino that fails to provide appropriate notice of changes as closures count as misconduct. 

How Do I Make A Withdrawal from a Closed Casino?

1. Use your laptop in order to avoid issues that may occur with the mobile display view of the site on other devices.
2. Check the website to see if the casino is still open. 
3. Go to the menu and log onto your account. 
4. Go to accounts and place a request for a withdrawal. Fill out the form correctly to avoid any delay in the process. Double-check the form from top to bottom, and verify your personal data, like your name, address, and payment method. 
5. Depending on your chosen payment method, it can take about a week for the money to arrive.
6. If the website doesn't allow you to log onto your account, contact customer service for help with the return of money. 
7. If that fails, or if they refuse to get a refund for you, gather all the evidence and approach the licence-providing gaming authority for guidance. 

It is your responsibility to make the withdrawal within the time frame suggested by the casino.