Crypto withdrawals: time, wallet and what the bank asks

All five casinos in the comparison pay out in crypto, each with its own coin list. Only HellSpin states a crypto time frame: 0-24 hours. How crypto compares with bank transfer, card and e-wallet for players from Austria is shown in the overview of withdrawal methods with time, minimum and fees per operator.

The real hurdle often comes afterwards: whoever swaps Bitcoin or Tether into euros on an exchange lands at an Austrian bank, which may ask where the funds came from. Then there is tax on price gains between withdrawal and sale. The sections below follow the path of the money: coins, time, limits, verification, bank and finally tax according to the BMF.

I

Crypto withdrawals by casino: which coins (SSOT)

The coin lists differ, mainly for smaller currencies:

• HellSpin: Bitcoin, Bitcoin Cash, Dogecoin, Litecoin, Ethereum, Tether, Ripple, Monero, Cardano, Binance, Dai and Zcash.
• Verde Casino: Bitcoin, Litecoin, Ethereum and Tether according to its “About us” page. The KYC policy of the same casino, by contrast, excludes payments from anonymous instruments and names crypto in that context.
• Nomini: Bitcoin, Litecoin, Ripple, Ethereum, Bitcoin Cash, Tether, USD Coin and Dai.
• Izzi Casino: Bitcoin, Bitcoin Cash, Litecoin, Binance, Ripple, Ethereum and Tether as withdrawal routes according to AskGamblers. According to Casino.Guru, only Bitcoin, Ethereum and Tether are available as account currencies.
• Starda Casino: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Tether, TRON, Ripple and Dogecoin.

Bitcoin, Litecoin, Ethereum and Tether appear on the list at all five casinos. Ripple is missing only at Verde, and so is Bitcoin Cash. Monero, Cardano and Zcash are offered by HellSpin alone, TRON by Starda alone, USD Coin by Nomini alone. Check before depositing that your coin is listed for withdrawals.

If you are looking for a familiar e-wallet instead, the page on withdrawing with PayPal explains why that route is on none of the five payment lists.

II

How long a crypto withdrawal takes

The waiting time has two parts: processing by the casino (status “pending”) and the transfer to the wallet. Only HellSpin gives crypto figures: processing takes 0-72 hours, after which, according to AskGamblers, e-wallet and crypto payouts follow in under 24 hours; for crypto the table states 0-24 hours.

For Verde, Nomini, Izzi and Starda there is no information on crypto timing. Their e-wallet figures do not transfer to coins: Verde gives 0–24 hours according to AskGamblers, Nomini 24–72 hours, Izzi and Starda 0–5 days each.

Before submitting, compare the wallet address and the selected network in the cashier with your own wallet, and write down the transaction ID after the payout. If a withdrawal stays “pending” longer than announced or gets cancelled, the page on withdrawal problems collects what the operators’ terms say about stuck requests and blocked accounts.

III

Limits and minimum amount for crypto

None of the five operators states a separate minimum per coin or network; there is no information on that. What is available is the general minimum withdrawal: HellSpin, Nomini, Izzi and Starda state €10, and HellSpin requires €500 by bank transfer. For Verde there is no information on the minimum amount.

Starda states its own crypto ceiling: there, €4,000 apply (status MID/HIGH), €10,000 in status TOP, €15,000 in status PRO, and for crypto up to 50,000 $ per day. The remaining figures apply in general:

• HellSpin: €4,000 per day.
• Nomini: €500 (VIP level 1–2), €800 (level 3), €1,000 (level 4), €1,500 (level 5).
• Izzi Casino: according to AskGamblers and Casino.Guru €4,000 per day (status New/Regular), according to LCB €250 per day from the first deposit (loyalty entry level).
• Verde Casino: no information.

For HellSpin the sources differ: according to AskGamblers withdrawal fees apply (amount not stated), according to LCB crypto withdrawals are free of charge. At Starda, a withdrawal without wagering the deposit costs 10 % of the amount.

IV

Verification and crypto: what the terms require

A wallet does not replace the account check: all five require documents, and several want to see where the deposit came from.

• HellSpin: ID card, passport or driving licence, proof of address, proof of deposit, selfie with ID, video and phone verification, other procedures if needed. The check usually comes with the first withdrawal.
• Verde Casino: ID, photo of the payment card, selfie with the document; if needed proof of address, bank statement or employer letter, handwritten memo and video call. The check applies at the latest from 1,000 USD/EUR.
• Nomini: certified identity card, proof of residence, proof of ownership and transaction histories of the payment methods, phone or face verification if needed. Every withdrawal is checked with an account verification.
• Izzi Casino: official document, proof of address, proof of ownership of the payment method, proof of deposit and video verification, mandatory before the first withdrawal.
• Starda Casino: ID, proof of address, proof of the payment method, proof of deposit, selfie with ID and video verification; according to LCB reserved from a withdrawal of 1,250 $ or cumulative deposits of 2,000 $.

With a card or bank account, your name is on the statement. Crypto is different: how proof of deposit or ownership of a wallet is to be shown in practice is not stated in the terms of the five operators. The obvious candidates are the exchange history in your own name and the transaction IDs of the deposits.

V

From wallet to account: when the bank asks questions

A player from Austria writes about a „Mittelherkunftsnachweis wegen Krypto- Casino gewinnen“ for a five-figure amount and asks: „Reicht es wenn ich Nachweise des Casinos über die Gewinne und Auszahlungen ... vorlege?“. Another reports that Erste Bank wanted the „Mittelherkuft wegen ca. 25k casino auszahlungen“ explained, collected over four months.

The basis is the FM-GwG. Under § 6 (1) no. 1 FM-GwG, credit institutions establish and verify the customer’s identity on the basis of documents or independent data. Under § 6 (1) no. 4 FM-GwG, they obtain and verify information on the origin of the funds used; this can include occupation, income or general financial circumstances. § 6 (1) no. 6 FM-GwG also provides for continuous monitoring of the business relationship, where necessary including the origin of funds. A fixed amount threshold: no information.

One player puts the crypto problem this way: the exchange shows the incoming funds, „nur halt nicht mit dem Bezug, dass es von Casino xy stammt.“ You close the chain yourself: the payout overview from the casino account, the wallet transaction IDs, the exchange history up to the swap into euros and the transfer to the bank account. Which documents banks request and how to order them is covered step by step on The bank asks where the money came from.

How strict banks are varies. One forum user says: „Raiffeisen und Volksbank sind zb extrem lästig bei Crypto.“ Another writes that banks „sperren einen ja schon bei normalen Kryptotrades und kündigen lieber die Geschäftsbeziehung“. Voices, not a rule. That evidence matters is also shown by an older legal principle of the VwGH (90/13/0075): unproven gambling winnings were not accepted there in tax proceedings as an explanation for household spending and assets.

Under § 52 (1) GSpG, a credit institution is penalised if it knowingly forwards a player’s payments to providers of prohibited games; the games themselves are reserved to the federal state under § 3 GSpG. Blocking payments to such providers is only planned according to government bill 594 d.B. What applies today and what is only a draft is laid out on the legal situation in Austria with monopoly and licences.

VI

Price gains and tax according to the BMF

According to the BMF, ongoing income and price gains from cryptocurrencies have been subject to the special tax rate of 27.5 percent as income from capital assets since 1 March 2022. This applies for the first time to cryptocurrencies acquired after 28 February 2021; coins acquired up to 28 February 2021 count as old holdings. Exchanging one cryptocurrency for another is, according to the BMF, not a disposal and is not taxed.

Players ask about the period between withdrawal and swap into euros. A player from Austria sums it up: „Casino gewinne sind nicht zu versteuern? Nur potenziell eine Wertsteiergung zwischen gewinn und verkauf“. Another was „der festen Überzeugung, dass die 27.5 % KESt hier nicht greift“ and is now unsure. A third voice asks: „Soweit ich weiss sind gewinne aus glücksspiel steuerfrei? Gilt das bei krypto casinos auch?“. For coins that come from a casino withdrawal, the BMF information contains no specific statement.

What is certain under the GSpG: the gaming tax is borne by the operator, not the player. How the winnings themselves and the types of income are classified is covered on Casino winnings and tax in Austria, separately from price gains.