Reverse Withdrawals and Cancellation Bonuses – What you need to know

Reverse withdrawal at online casinos

You may have heard the term reverse withdrawal before and wondered what it was all about; well it’s pretty simple really…when you decide to withdraw or “cash out” your funds at online casinos you start the withdrawal process. Unlike land based venues, funds are not automatically released immediately but rather go into a “pending” period which allows the casino time to process the request. While you wait for your money you may decide that you’d rather use it to continue to play at the casino and so you can request that the withdrawal process be cancelled and the funds be processed back into your player account. This is called a reverse withdrawal. If you didn’t know it existed, now you do!

There is much debate about the “pending period” within the online casino industry and oftentimes casinos that flush player accounts immediately, releasing funds with little or no waiting period are highly sought after for obvious reasons. This however shouldn’t be the deciding factor when choosing a casino as some of the best online casinos have pending periods of 24 to 72 hours. This is part of a greater “business model” that is designed in the hope that during the pending period you’ll get bored and reverse the withdrawal spending your money at the casino instead of taking it out.

The market has become so competitive that while most casinos offer a reverse withdrawal as an option, others have taken it a step further and offer reverse withdrawal or cancellation bonuses! This is definitely a very controversial type of casino bonus, mainly because encouraging you to rather play your money than withdraw it may seem predatory, but as always, it is your choice, and there are of course those who applaud this type of bonus reward.

Reverse withdrawal requests are not as common as one may think, because generally if you’ve decided to cash out it’s because the funds need to be allocated elsewhere in your budget. The most common request for reverse withdrawals occur when people hit jackpots or enjoy huge wins and large payouts are due to them. At times these types of winners may wish to allocate a part of their winnings to additional casino play and so they’ll request a reverse. When a reverse withdrawal bonus is offered, this serves as an even greater incentive to reallocate funds back to their player account. These types of bonuses are usually quite generous and it makes sense to accept them because of the potential for returns should you have further luck and win some more. Of course, terms and conditions and oftentimes wagering requirements do apply so if you’re offered a cancellation or reverse withdrawal bonus, be sure to read these before accepting it.