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Won the Lottery? Want Your Money? Not so Fast — Withdrawal Problems Exposed

A Guide to How You can Deposit and Withdraw Lottery Money

Why Is It So Easy to Deposit and So Hard to Withdraw?

In theory, it sounds really simple. You sign up, deposit some money in an online lotto website, play, win and get your money. That’s how the logical course of development goes. Unfortunately, real life isn’t always as simple as theory. Things have to get a bit more complicated, probably to keep giving you an adrenaline rush long after you’ve celebrated the big win.

Making a deposit in an online lotto website doesn’t rank among the most complicated tasks on earth. When it comes to asking for your money back, however, you may have to deal with some stumbling blocks that stand in the way of burying your face in that cash pile.

Terms, Conditions and Other Matters of Inconvenience

Have you read the terms and conditions of your online lotto of preference? Chances are that you haven’t. Don’t worry about it, generally-speaking nobody goes through this information. The lack of desire to inform yourself, however, is usually to the benefit of the online lotto provider.

Certain sneaky terms and conditions could be standing in the way of withdrawal. This is why, when it comes to money, you should read every single letter and make sure that you comprehend what you’re getting yourself into.

Verifying your identity is usually the first part of the process. If the lottery guys don’t know who you are, they aren’t giving you any money, no sir!

Also, there could be minimum withdrawal requirements. That means that most probably, you aren’t going to cash out the 20 dollars you won last week. Read through those terms to make sure that you’ll get to hold that heard-earned cash in your hands, even if the sum is comprised of just a banknote or two.

No Money for You!

Various online lotteries have policies that restrict the withdrawal of certain types of money.

Very often, it’s impossible to withdraw the sums that have accumulated in bonuses. These are simply available in your balance and you can use the amounts for new purchases. Learn to make the difference between your online available balance and your withdrawable balance – these are two completely different terms. If your initial idea was to simply wait for the bonuses to accumulate and to then draw the money out – you’re one unlucky person!

One final thing to keep in mind is that certain withdrawal fees and taxes could exist. You’ll be responsible for those, as well as for third party charges for taking the money out of the account. If the money in your account is in a certain currency and you’d like to take it out in another, you’ll also lose some due to the exchange rate that the particular lotto site uses.

Once again – terms and conditions! Read those! Good idea about terms and conditions means no withdrawal surprises, losses, tears and personal drama.

Just Keep on Playing!

Even if withdrawals aren’t particularly easy, one thing is – using the money to continue playing.

Almost all online lotteries give you the chance to convert the money you’ve won into play credits. This way, you don’t have to deposit more funds and you can keep on trying to hit that jackpot.

A fine line needs to be drawn, however! You can easily get sucked up in this vicious cycle. You win, you get more play credits, you win again… or eventually lose! Sometimes, practicing a bit of restriction is much better. After all, the purpose of playing lotto games is to cash out. If you get drawn to this method of winning and spending, you may end up losing money.

Sometimes, it’s a good idea to celebrate the small victories rather than to keep on trying to hit the jackpot.

And Now Things Get a Bit Tricky

You’re one smart cookie if you decide to buy a ticket for high jackpot lotteries online. EuroMillions is an example. Small winnings in this case will immediately be credited to your account and you can withdraw whenever you deem appropriate. Congratulations, you’re a lottery winner.

When you happen to win a bigger amount or praise the Lord, you hit the jackpot; things get to be a bit trickier.

You’ll usually be contacted in person with instructions about how to claim the amount in your country. Of course, this is done for security reasons. Transferring two million dollars in an online account can be risky, to say the least. So, it’s better to be safe than sorry.

It’s still possible to remain anonymous and to have the lottery handle the money transfer process for you, just in case you have a greedy sibling that’s waiting for the opportunity to snatch the jackpot. Once again, instructions will be provided about the viable options.

Money withdrawal isn’t always for the faint of heart but there’s nothing especially complex if you’ve read those terms and conditions. If you still feel a bit confused, you can visit specialized websites like Lotto Exposed. The forum features tons of information and useful advice that will make it easier for you to finally celebrate that big win by actually having the entire amount in your bank account.