Casino lock withdrawal feature
Lock withdrawals are account management features that help you protect your winnings. Locking withdrawals is now a cornerstone of responsible gambling strategies, and the feature is a good way to know if an online casino is serious about helping players to develop good habits.
The first casino to introduce lock withdrawals was Rizk, back in 2016. Since 2019, more and more casinos have introduced the feature to their player account management systems.
|Top 3 UK online casinos||Casumo, SlotsMillion, Rizk|
LadyLucks has a serious commitment to responsible gaming, and we want to help you be as informed as possible about the resources at your disposal. We’ve come up with a list of the online casinos in the UK with the best lock withdrawal features to help you keep your money safe.
Make sure to check out our full article on responsible gaming.
- 1 What are withdrawal locks?
- 2 Top responsible casinos with great lock withdrawal features 2020
- 3 Tips for responsible play
- 4 Locking withdrawals
- 5 Why it’s important to lock your withdrawals
What are withdrawal locks?
Withdrawal locks are self-imposed restrictions that prevent you from playing with funds after requesting a withdrawal. This is the most effective way of protecting your funds, especially after a big win.
Most casinos take at least 24 hours to process a withdrawal, while some can take anywhere up to a week. During this time, many players are tempted to reverse the withdrawal and play with the funds before the casino has a chance to initiate the transfer. Lock withdrawals, as their name implies, lock in the withdrawn funds so that the casino cannot make them available for you to play with them, even if you request it.
Lock withdrawals are for everyone, not just people with gambling problems.
It’s a good policy to request a withdrawal immediately after a big win. Unfortunately, this is also when many players think they can take advantage of a winning streak, so they tend to cancel the request for a transfer in order to play with their winnings.
Top responsible casinos with great lock withdrawal features 2020
It’s extremely important to know what casinos offer the best responsible gambling and account management features before registering to play for real money. Unfortunately, not enough casinos offer lock withdrawal features. That’s why the LadyLucks team thinks it’s so important to give you a list of the best casinos with lock withdrawal features in the UK.
All of these casinos are certified by LadyLucks.
I’ve created accounts at all of these casinos to test their games catalogues, their account management systems and their support services. They all have great welcome bonus offers for first-time users. You can claim the bonus codes by clicking on the links on this page.
These casinos are all licensed by the United Kingdom Gambling Commission (UKGC). This means they are fair and safe casinos that comply with legal requirements to operate in the UK, including regular testing and audits.
Remember to read our detailed casino reviews for more information.
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Tips for responsible play
Locking withdrawals is just one of the different measures you can take to make sure you gamble responsibly.
We recommend taking full advantage of the account management settings that let you set up limits based on time and money spent playing. Each casino offers different combinations of these limits, and they each have their own terms, but the concepts remain the same:
- Spending budget
- Deposit limit
- Loss limit
- Wager limit
- Time alert
- Time block
See our full-length page on responsible gambling for more details.
How can I enable lock withdrawals on my online casino account?
Each online casino has a different approach to locking withdrawals. Some include the option in the withdrawal request. Others require you to manage each withdrawal separately. Regardless, they all guarantee that once the withdrawal is locked, nobody can change it.
Casumo lock withdrawal: account transaction management
Simply make a withdrawal and go to your account transactions. The page will list the pending withdrawals. Once you click the lock button for the withdrawal, it won’t be possible to reverse it.
SlotsMillion lock withdrawal: upon request
Go to the Banking page to request a withdrawal. Select the Lock button while making the request and submit it. Your withdrawal will be processed and the funds transferred as quickly as possible.
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Full terms available here
Rizk lock withdrawal: upon request
Go to the Transactions page and request the withdrawal. Enter the withdrawal amount and click the lock icon. After submitting the request, the transaction will be marked ‘Awaiting Approval’ and it will be processed without allowing any further intervention.
Withdrawing your winnings
Reliable online casinos always make it easy to withdraw funds. They also have quick withdrawal processing times. It’s important to keep in mind that the payment method used to withdraw the funds will affect the time it takes to transfer them.
Casinos usually let you withdraw funds using the same method you chose for deposits.
Our casino reviews have detailed explanations of the different payment methods available at each online casino. We also compare the time each of them takes to transfer.
You can also see our page on payment methods to see detailed reviews of the different methods available through UK online casinos.
Why it’s important to lock your withdrawals
Locking withdrawals is the safest way to secure your winnings. After big wins, the best practice is to submit a withdrawal request and lock it.
This is because most of us tend to think that playing with the larger-than-usual bankroll that a big win provides is a sort of investment, assuming that we’ll win big again. This is a common mistake, like thinking that having a few wins within a short amount of time means that we’re on a winning streak.
Locking withdrawals prevents you from making decisions based on erroneous logic inspired by the excitement of winning.