Are Betting Site Maximum Withdrawal Limits Allowed?

Question Mark Problem Solving ThinkingIf you have ever been a member of an online casino or sportsbook, then you may also be privy to the fact that many of them come with limitations on the amount that you can withdraw.

A minimum amount is often provided, but there can also be a maximum withdrawal limit set in stone too, which obviously dictates how much have the possibility of taking out of your account at any given time. And because those maximum withdrawal limitations will usually be written in the terms and conditions, you need to abide by them.

But why does an online gambling site need to have these limitations? After all, you have deposited, placed bets on sports or games, and if you have gained anything on top of your deposited amount, then surely you will want to withdraw it at some point. Why should you be restricted on the amount that you can actually take from your account, though? It’s also prominent to ask if maximum withdrawal limits are allowed at gambling sites. Or is it just something that a large majority of them have chosen to incorporate by themselves?

It is important to note that here we are talking about daily, weekly, monthly withdrawal limits set as a maximum amount you can withdraw in that time.  Most sites have transaction limits, this is the amount you can withdraw in a single request, but you can generally make several requests or use a bank transfer to withdraw the full amount.

It is also not the same as a payout limit, which is the maximum you can win in a period of time or on a certain sport/market.  In effect payout limits are used as a means to control withdrawals, though, e.g. if you can only win £10k each month then you can only withdraw £10k in that time.

Let’s take a closer look at if these limitations are indeed allowed at casinos and sportsbooks, and why the platforms feel the need to have these in place.

The UKGC Stance on Withdrawal Limits

UKGC Coffee Mug SloganThe United Kingdom Gambling Commission (UKGC) is the body responsible for laying out the rules and regulations surrounding gambling companies operating within the UK.

A vast number of rules and conditions are in place via the Commission, including information surrounding the withdrawal of funds from an online gambling account. Within those terms, it states first of all that all players “must be informed” that they have the ability to “withdraw their deposit balance at any time” (meaning the amount that they deposit into their account), and this includes “when a bonus is pending or active on the account”.

That deals with the money that you have added to your casino or sportsbook account in the first place, meaning that this should always be withdrawable whenever you want it. At the same time, those same rules state that “players must also be allowed to withdraw without restriction, except as necessary to comply with any General Regulatory Obligations”.

The rules do not restrict operators from deducting a fee charged to customers for the processing of withdrawals, or if a customer requests a withdrawal of less than their full deposited balance.

That being said, there is also a section written out by the Gambling Commission specifically on maximum withdrawal limits. This specifically states gambling sites cannot impose a maximum withdrawal limit on players regarding their deposit balance.

For example, if you deposit £200 into your chosen site and then want to withdraw it all, a platform cannot limit you to £100 of that amount if it remains in your account. Players should always be able to withdraw as much or as little from their deposited amount as they like, and this includes their winnings.

This means that if, for example, you deposit £200, you lose £40, but then you win £80 overall bringing your balance up to £240, you should still be able to withdraw £200 at any time, despite £40 of that total deposited amount being made up from winnings in one way or another. “There must be no term in place that restricts this”, according to the Commission rules.

In the “What Not to Do” section of these rules, the Commission also states the following points:

  • There must be no restrictions on the maximum amount of money a player can withdraw at any time
  • Players must not be charged if they wish to withdraw the entirety of their deposit balance
  • The withdrawal of funds must not prompt an operator to request this information

It then proceeds to give an example of what not to do, highlighting that an operator cannot incorporate a term such as “you may withdraw up to £50 per day and up to £500 per week” into their general T&Cs.

This seems to suggest that any operator holding a licence from the UKGC is not allowed to impose maximum withdrawal limitations on anyone registered and placing bets at their sites. Therefore, maximum withdrawal limits are not officially allowed by the Commission.

What sites are allowed to do though is set maximum winnings limits.  This can be by day, week, month or can be variable for different sports and markets.  This can range from £500 to £2,000,000 depending on the site and the markets so do check in advance before placing large stakes or betting at high odds.

Sites That Do Impose Withdrawal Limits

payment declinedIt may not be a common thing to experience at UK-centred online gambling sites, but there are those casinos or sportsbooks which operate with different licences from offshore jurisdictions that may impose such restrictions on players.

If you were successful on a casino game and received a £10,000 reward from it, then an offshore site may only offer to pay out £2,000 of this per week or month as part of its terms and conditions. This is not something that should be taking place at UK-licensed sites, though.

Those sites that do impose such limits will have different patterns in place, though. Some have a daily limit, some have a weekly one, and others have monthly. And sometimes, a site will impose restrictions in all three areas. This means that you won’t be able to withdraw anymore than the maximums stated for any or all of those timeframes.

Should you be playing at one of those casinos or sportsbooks, it is vital to read the terms and conditions associated with requesting withdrawals of your money.

Why do some gambling sites have these withdrawal restrictions in place, though? After all, if you have deposited and you take the risk of gambling your money on games or sports events etc. and you are successful, surely you should be able to do whatever you like with that money, including withdraw it all in one go, if you so wish. Why does a gambling site get to determine what happens with your own acquired funds?

A big reason that some people have suggested with regard to this is for the financial stability of all these sites in question. Should you secure a big payout, and multiple other players do so, and then you all request vast withdrawals at the same time, it can see a platform’s funds deplete quickly. That could stop them from being able to cover new bets placed by other players, and so on. Incorporating limitations on a daily, weekly or monthly basis, allows these sites to have a solid cash flow, on both incoming and outgoing bases.

That being said, any well-known, reputable gambling company should have a good cash flow already, as well as a solid back-up in place. It is also necessary that player funds and online site funds are kept in separate accounts, so as to avoid any mix up when it comes to these payouts.

One other reason that has been suggested by some people is that the casinos and sportsbooks are imposing limits so as to protect players. This is because if someone is successful in acquiring a substantial amount of money from gambling and they request to withdraw it all in one go, it may be very easy for that money to be spent swiftly and without much thought. Sometimes, providing a steady stream of funds through multiple transactions gives players the time to think clearer on it.

However, it could also be due to such site stalling for time. If you have a balance in your casino account of £20,000 and you are only able to withdraw £2,000 per week at a maximum, then there may be the idea of the casino that you will get tired of waiting around after a week or two. Having secured £4,000 of it by the end of the second week, you may just end up using the remainder on the games, which is obviously beneficial for the casino, because games often lean in favour of the house. Delaying the full withdrawal by imposing maximum limitations or long pending periods is an advantage to the gambling sites.

What to Do to Get the Most Out of Withdrawals

WithdrawObviously, the best course of action to undertake when it comes to online gambling sites is to try and find one that has high withdrawal limits or none in place at all. It’s a lot more understandable for smaller platforms of this nature to have such restrictions in their terms and conditions, as they don’t possess as much financial stability as those that are well-known and have a bigger roster of players on the books.

If there are maximum withdrawal limitations in place at your chosen site, then you need to understand what those limits are. If the limits seem too low, then it may time for you to try joining an alternative platform. As noted, sportsbooks, bingo sites, casinos and other platforms located within the United Kingdom should not be imposing such restrictions on players. That is in the official legislation provided by the Gambling Commission. A gambler should be able to withdraw as much as they like at any time, unless of course they are under restrictions due to bonus funds being active on their account.

But you also need to understand that if limits are in place, then there’s also the likelihood that an online site is simply trying to ensure it has financial stability to continue operating. The limits aren’t only imposed on you, but all players who are gambling at the site. Without that financial stability, a gambling site can suffer serious issues that can lead to it going under altogether. In these circumstances, it works much better to be as understanding as possible regarding the situation.

Possibility of Increasing Limitations

illustration man holding arrow smashing through red line limitThere are online gambling platforms that incorporate different maximum withdrawal levels for different players. You’ll start off at the basic level for this, and from that point on, you’ll be able to increase it by achieving various things. Often times, these higher levels will come as you ascend up a loyalty scheme ladder. The higher you go, the more you have the ability to withdraw from your account as a perk of moving up.

Reaching the top of the loyalty scheme will place you in the top bracket for not only the highest maximum, but often for priority withdrawals as well, meaning that you get your money a lot quicker. The Gambling Commission in the UK introduced new protocol for making players VIP customers in 2021, because these schemes often require you to deposit and spend more money on the games. Therefore, stringent affordability checks need to be carried out, the betting site needs to look for any evidence of gambling-related harm and ensure that up-to-date information is on file relating to the player.

One other thing to consider as well is the payment method that you are using for your gambling activity. Maximum limits can differ from method to method, and often times, you need to use a bank transfer or debit card to be able to withdraw the very highest amounts from a site.

Options like e-wallets and similar banking routes tend to come with lower maximums attached to them. Always check into the cashier page prior to requesting a withdrawal, as you will be able to see the different maximums for each available payment method.  Remember, though, a transaction limit maximum is not the same as an overall withdrawal limit, you can make several transactions if you need to.