Ladbrokes is one of the most popular names in the sports betting industry, with millions of clients spanning the whole world. Owing to its popularity, there’s a good chance that you’ve read about the games and the site. However, in this article, we’ll be focusing on the Ladbrokes withdrawal process, highlighting the process of getting money out of your account. Similar to most leading brands, the withdrawal system is kept as simple as possible.
Bonuses and Promotions
Ladbrokes offer an outstanding new player bonus that offers a 100% Sign Up reward worth up to £100 on any deposit (£5-£100). It offers players a great introduction to the casino and after you claim that, the perks keep coming.
There are many more ongoing offers most of which are seasonal. However, the most outstanding rewarding system is the VIP Club where rewards, special promotions, and loyalty points can be collected and changed to hard cash. The casino also features usual tournaments for Blackjack and Slots depending on what tickles your fancy. Besides these wealthy promotions, the casino offers prize draws weekly to boost player pockets.
How to Withdraw at Ladbrokes
Just a few simple steps are required to initiate a Ladbrokes withdrawal. Follow these steps to cash out swiftly:
- Log into your account using your casino IDs;
- Enter “My Account” by clicking on your name at the top page;
- Click on “Withdraw” from the page of cashier and pick your payment option;
- Input the amount money you would like to cash out;
- Click the withdraw button and the process will kick off (withdrawals at Ladbrokes can take up to 5 business days) ;
The available withdrawal methods for the customers are e-Wallets such as Skrill, PayPal, and Neteller as well as bank wire transfers plus credit and debit cards.
How Do You Withdraw Your Bonus?
The process of cashing out your bonus is just the same as making any other withdrawal at the casino, where you should follow the steps that we’ve highlighted above. However, bonus withdrawals come with extra terms which must be fulfilled before you cash out.
For instance, in most cases, there will be rollover requirements for the bonus amount you receive plus your initial deposit in case of matched bonuses. For free spins, on the other hand, you might be required to roll over you free spins several times before cashing out. Failure to meet any of these terms will mean nullification of your bonus, and you won’t be allowed to cash out. You should know that the bonus requirements keep changing from one promotion to another at Ladbrokes and so, you must read through the requirements of any bonus before claiming it.
Jackpot Winning Case
Imagine you hit a $30 million Jackpot, how will you withdraw your payout? Well, basically, your choice of receiving your payout helps determine the exact amount you’ll cash in. In this section, we’ll cover everything you need to know about such a scenario.
- In case you win $1-$1199, you are allowed to withdraw just as you usually do.
- If you win $1200-$4999, you immediately shift to the bracket of bonus taxing. You have to fill in tax returns W-2G form to officially declare your payout to the federal government, however, casinos aren’t bound to take away any of your cash. Paying the taxes is up to you. However, if a winner fails to give a social security number, then the casino will take out 28% for the IRS.
- If you win a lump-sum of over $5000: The IRS will regard the payout as a form of income, that may make your winnings incur a higher tax bracket.
You should, however, note that the tax regulations vary from one jurisdiction to another. For instance, in Germany, there is a fixed 5% tax levied on any and all earnings received from betting online.
Like most betting companies out there, Ladbrokes gives its winning players two ways of receiving their payout. The choice you make could have critical tax implications. These options are:
- Life-time payout: a set yearly payout for a particular number of years.
- Lump sum: Winners have 2-3 months to make a decision on whether they prefer to get paid the full sum or choose the lifetime option. By selecting the lump sum, you might end up facing a heavy fee on your winning cash.
Deposit Methods Special Conditions
Similar to the majority of online gaming sites out there, Ladbrokes follows some strict anti-money laundering policies set by the industry. You are only allowed to cash out from the payment option that you used to deposit the cash in the first place. This makes it easier for tracing of your cash flow in case of anything.
However, in case you loaded money to your account using a wallet that is not accepted as a cashing out option such as MasterCard in some regions as way as other prepaid cards, your funds will automatically be withdrawn to your primary bank account.
RTP is basically a percentage that shows how frequent a gamer will land on a win. The higher the RTP percentage of a casino, the more often players will win. In general, the probability of a gambler to earn a win are equal to that of a loss (i.e. a win for the casino) at 100%. And if the RTP goes above 100%, it implies the casino actually lost money to its customers from the betting activities over the given time period.
As a gamer, you can easily make a calculation of the RTP (Return to Player) of a game or gambling site by the formula below:
RTP= (Sum of money earned by gamers after betting)/ (Sum of money wagered by bettors)
Amount Earned by Gamers – the total sum of money the bettor wins in one round. For table games, the stake is not part of the return, only the sum you won is considered as the payout. For other games like video poker and slot machines, the initial wager is not calculated once it is placed. The amount that is earned by the gamer is the total sum based on the pay table in the outcome of that round of the game.
Sum Wagered by Bettors – The net amount of each original bet for all rounds by all gamers for the timespan within which the audit was done for a given game (normally a calendar one month)
RTP is a measure of all the play of all the game players brought together. Some will win and have an RTP more than 100% while others will lose and have an RTP of less than 100%. For instance, if you win £500 from a £10 play your RTP in that instance will be 5000%. Others are likely to have an RTP below the advertised average. For Ladbrokes, the average RTP for all players is between 96% and 98% meaning that as a player, you have a good chance of winning with every bet you place.