Big deposits, big bets and big wins are a reality for the high rollers of the gambling world. Does betting a few dollars at a time just not cut it? Well, you might be a high roller. If you need to place larger-than-usual wagers to get the thrill you seek, you need to find a betting site willing and capable of taking your action. Surprisingly few sites are equipped to handle the action you need.
At the most basic level, your site needs to be willing to accept large wagers in the first place. Online sportsbooks and casinos are big on risk management. Someone who bets big and wins too much can really put the squeeze on some of the smaller sites out there. That’s not going to work for the high stakes gambler.
Poker sites need to host high stakes tables and have the traffic to keep them busy. Even if a site hosts high limit tables, you’re not going to get any action if there’s nobody to play with. Larger sites are always your best bet for big poker games.
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The criteria for choosing a place to bet online are a little different for the high stakes gambler than they are for the everyday Average Joe. Now, we all care about our money no matter how much we have, but safety takes on additional importance for the high roller because those big cash balances present a juicy target for the unsavory individuals of the world.
Logistics are also important. It’s no problem to whip out your credit card and make a $100 deposit, but it’s a whole different story for someone who needs to make a $5,000+ deposit. If your credit card even supports large transactions, your betting site may not. Online sportsbooks, casinos and poker sites are leery of large deposits due to the ever-present risk of fraud.
The same goes for withdrawals. If you’re fortunate enough to win a bunch of cash and accrue a large balance, you’d better hope your site is capable of processing large withdrawals. Take a look at the fine print of many betting sites and you’ll find that they limit withdrawals to something like $5,000 a week. That’s plenty for the average player, but it’s not enough to process a big cashout within a reasonable time frame.
It all comes down to financial logistics going both ways. If your site doesn’t have the ability to process large transactions, it’s going to be more trouble than it’s worth. Payment processing is always something I consider when looking for high stakes gambling sites.
Bonuses and VIP programs are also worth a look. Any betting site would be thrilled to have your business – so make them earn it. Don’t be shy to ask for special treatment. If one site isn’t willing to give you worthwhile rewards, someone else most definitely will. You’ve got the biggest bargaining chip sitting right there in your bank account. Use it.
Contact a VIP Host
It never hurts to make a phone call or write an e-mail to your prospective operator. Tell them that you’d like to make a large deposit and ask them how they would handle that deposit and subsequent withdrawal. If they have the means to do so, that’s great.
If you already have an account somewhere, you can also see if they’d be willing to increase your betting limits. Some sites (especially online casinos) have “flexible” limits. The max bet is set at some default but they’re happy to increase limits on a case-by-case basis. This works fairly often if you have a little history with the site in question.
Ask them if they have any sort of VIP program or special rewards for high rollers. Many brands won’t have anything official in place but if you tell them a big enough number, a competent manager will pull strings and make good things happen.
As a side benefit, you can see what their customer support is like before you deposit. If you get placed on hold all day or the people there treat you like a jerk, well, at least you’ve found out before you made that big deposit. Every customer deserves decent customer service, but a site that can’t even take the time to give high rollers quality customer service has some serious issues.
Don’t be surprised if you have a few problems depositing the first time you make the move to high limit betting. Large financial transactions make everyone nervous. This includes your credit card issuer, bank, gambling site and its own payment processors. Nobody wants to be the one to take the hit if someone uses a stolen credit card or fake identity to make a large fraudulent deposit.
You can minimize delays and avoiding rejected transactions by contacting your betting site before you make your first big deposit. Let them know what you’re planning to do and ask them for advice. Your site should recommend a deposit method and tell you anything else you need to know to make sure your transaction goes through the first time.
Don’t be surprised if you’re asked to send a copy of your driver’s license and/or proof of residence. This is just a byproduct of everyone’s natural paranoia when dealing with large sums of money. The process is completely normal and legit. At worst, you’ll be asked to scan a picture of your license and a recent utility bill and then e-mail a copy to your site’s customer support team.
Divide and Prosper
Nothing says you have to keep your bankroll all at one place. In fact, it might even be better to split your bankroll across a couple high limit betting sites. This is basic risk management. Why keep it all at one place if you don’t have to?
The odds of any big-name gambling site suddenly going rogue are infinitesimally small but still, it doesn’t hurt to keep your eggs in a couple different baskets. If someone guesses your password at one site or you leave yourself logged in and the cat jumps on the keyboard, there’s a modicum of damage control.