Are crypto casinos less trustworthy than other casinos or can you trust them to pay out your winnings? Let’s find out…
Crypto vs Fiat Casinos
With the emergence of crypto casinos, it is understandable that a lot of players were and still are somewhat skeptical about their existence and how they differ from “regular” casinos.
I’m sure you have heard it all as well. I would say it’s pretty common to hear things like :
– “I’m not sure I can trust them”
– “I don’t know anything about crypto so I’m going to stay far away”
– “I’m staying put where I have always played and I’m not touching that new wave digital stuff no matter how good it seems”
Make the Switch
By now you see more and more players making the switch or at least starting to dabble in crypto and hybrid casinos so I think it’s safe to say that many of them have proven themselves.
One of the most important areas, and one where you want to be sure that things will be running smoothly, is off course withdrawals and payouts, especially when it comes to the BIG kind we all dream of.
So, the question of the day is – Will a Crypto Casino pay my big win?
Of Course They Will
The answer to the question is: of course they will! Just like any other casino, a crypto casino has obligations and rules to follow, at least the licensed ones. In terms of the process itself, it’s pretty much just like any other payout.
Do Not Waste Our Time
We all know that unfortunately there are still a number of shady casinos out there, where scamming players seems to be a part of the short term business plan and therefore ruining the reputation of the others.
This is why I appreciate and respect the professional and hard working casinos that show you the same respect back and do their best not to waste players time by delaying payouts etc.
When you are enjoying a good run and want to withdraw your winnings, you are very much entitled to do so. The casinos I refer to will make sure that your withdrawal is not pending longer than necessary so that you can enjoy your wins sooner.
The Process of Your Payout
To quickly explain the process of your withdrawal ( in most cases) these are the steps that needs to be taken:
- You as a player request a withdrawal
- The casino needs to verify your account and that you are who you say you are. If they need something from you in terms of documents, they will contact you.
- If needed, the casino will take care of the communication with the game providers
- In the meantime, support will be there in case you have any questions
- Payout approved and the money is on its way to you. How long depends on the method
Big Wins Means Higher Security
Something that could be slightly different but also expected is the fact that if there is a big win, the verification process might take a little longer.
In general, there are a few different types of verifications that sometimes need to be conducted prior to processing a withdrawal.
- You may have to complete the KYC process by sending in documents strengthening your identity.
- If it’s a BIG WIN, the win itself needs to be confirmed by the game provider before the withdrawal process can begin. This part is therefore out of the casino’s hands since each provider is a separate entity with their own internal processes of verifying that wins are valid. How long this verification will take is impossible to predict but is often the reason for a delayed payout.
- Should your case need the approval of a provider, the casino will always send it over to them as soon as possible in order to minimize the time it would take. As soon as it’s been approved by the provider, any casino with 24/7 support will be able to handle your payout super quick.
Casinos are the ones having to cough up the money for all wins, however big or small they are. However, there are huge progressive jackpots that would put an end to 99% of the casinos out there if they had to pay it.
For example, Mega Moolah is known as the biggest jackpot in the business. You can see one of the biggest ones in the image above, a mouth watering €18,915,872.81!
If any casino would have to pay that by themselves, they are done. This is why progressive jackpots are paid by the actual game provider.
How It Works
The way progressive jackpots work and how they can get so incredibly big is because the game will take a small portion of the wager for every single spin and add it to a jackpot fund. This means that every player that plays the game, anywhere in the world, will help contribute to the big jackpot.
Most jackpots, after they have been won, they will reset to €0. Mega Moolah is not like everyone else and when it resets, it does so at a much bigger €1,000,000.
As time goes on and players keep playing the game, the progressive jackpot increases until that one day when one lucky player wins it and says bye bye to his old life. The win will then be paid out by the provider. I haven’t even gotten close to a jackpot of this magnitude. What about you?
Go Be a Winner
Right now, the Mega Moolah jackpot is at €6,3 million and as the saying goes, you have to be in it to win it. You can play Mega Moolah at most casinos, including Fortune Jack, BitStarz, Cloudbet and 7Bit Casino.
So if you do win, yes, a crypto casino will pay out your winnings. Unless it’s a progressive jackpot, which will be paid out by the provider. In either case, you will get paid!