How To Withdraw Money If I Win An Online OLG Lottery In Canada?
OLG Lottery in Canada offers many online games to play. When you win there are many ways to withdraw your winning amount. Lotto Max, Lotto 6/49, Daily Grand, Daily Keno, and Ontario 49, and Encore are available for purchase online. You can Buy tickets here. Some draws, including Lightning Lotto and Lottario, are available in-store only.
How to withdraw money if I win an online OLG Lottery in Canada?
Withdrawals from your OLG account are made through Electronic Funds Transfer and are deposited directly into your bank account within 3-5 business days. To process a withdrawal, you must first register your bank account. This is a one-time process, provided you do not change bank accounts.
To do this, you will need to know your bank institution, transit and account numbers and upload banking documents to OLG for verification. To make sure the process goes as smoothly as possible, carefully read the instructions, include the correct bank account information and provide the correct documents with all the required information included.
Documents you need to submit are as follows:
- Bank Statement – either downloaded, copied, or photographed and recent (within 2 months)
- Void Cheque – this includes electronic void cheques, photos or copies of a void cheque
- Cleared Cheque – this can be a copy or other electronic image and recent (within 2 months)
Verification typically takes less than 5 business days however it may be longer depending on the volume of requests. If you have been waiting for more than seven (7) days, you can contact them. When the account if verified, the ability to withdrawal funds is enabled.
After your account has been set up and verified, withdrawals are easy. Simply select the amount of money you want to withdraw and follow the steps. Please remember that you are only permitted to have one successful withdrawal request per day. Withdrawal requests are reviewed and approved daily. Once approved, they are sent to the bank where the banking systems take over. You should expect a withdrawal request to take 3 to 5 business days to reach your bank account. If there is an issue with your withdrawal, OLG will contact you via email.
Note that all the documents must include your Name, Address and bank account information:
Your digital document(s) could be rejected for several reasons, including if the document was an unsupported file type, or was too blurry to read, for example.
You can select up to 3 files in PDF, png, jpg or heif format. Please ensure that each scanned or photographed image of your document(s) is smaller than 10MB, and is not dark, blurry, doctored or otherwise unclear.
If your image is unclear, try using a third-party scanning app or a document scanner.
During the withdrawal process, OLG also verify Player’s identity to meet FINTRAC regulations. Your documents may not have met the requirements or further documentation was required. Check or account inbox or email for a message from their Accounts Team.
If you do not want to make a withdrawal or you changed your mind or wanted to change the amount of your withdrawal then it can be reversed on the condition that OLG haven’t already processed your transaction, you can then cancel it and request a new one if you choose.
You can check the status or cancel the transaction in the Banking section of ‘My Transaction History’. Withdrawals that can be canceled with have the option displayed.
You can check if your withdrawal is complete in the Banking section of ‘My Transaction History’.
Click on the Player Icon beside ‘My Balance’. A drop-down menu will appear.
Select ‘My Transaction History’, which will take you to a page displaying all your previous transactions on OLG.ca.
Select the ‘Banking’ tab to see your deposits and withdrawals. Note, follow the same process above to cancel a withdrawal request.
If you are using OLG lotto app then do the following:
- Go to the navigation icon:
- Android: Located at the top left of your screen in app (three vertical lines)
- iOS: Go to ‘More’ on right of bottom navigation in app (ellipses icon)
- Select on ‘My Account & Transactions’ under ‘Account’ section
- Select ‘My Transaction History’ under ‘History’ section
- Select ‘Banking’ to see your deposits and withdrawals.
FAQs
Q1. When playing online games what if games do not load
Make sure that you have third party cookies enabled via your web browser settings. Third party cookies are mandatory to play certain games; if cookies are blocked, the game may not open.
To turn on cookies for Chrome:
1. Select the three dots at the top right of the Chrome browser panel.
2. Go to ‘Settings’.
3. In the left-hand menu, select ‘Privacy and Security’ > ‘Cookies and other site data’.
To turn on cookies for Safari:
1. Select the Safari drop-down menu in the top-left corner of your browser panel.
2. Go to ‘Preferences’ and then ‘Privacy’ via the top panel.
Under ‘Block cookies’ ensure you deselect the checkbox.
Q2. How to start Auto play in online games?
When selecting Auto Play, some games can be set to automatically stop when certain Win or Loss amounts are reached. For example, you may be able to configure Auto Play to stop when you have lost more than $10 (total) or have won over $20 on a single spin. Some games require a Loss amount to be set before Auto Play will start.
Q3. How do credits work for some games?
In some slots, your money is converted into “credits” or “coins”, which are valued from pennies to $100. When some players talk about penny slots or nickel slots – they’re referring to the machine’s credit value, called the denomination.
On games with credits, be sure to check how much one credit is worth. The denomination or value of a credit is rarely the same as the cost of a spin on that machine.
For example, when a credit value of $0.01 is selected, a bet or win of 2400 credits is worth $24.00.
Q4. Will my winnings be taxed
Your winnings and proceeds are not subject to tax in Ontario.
Q5. Can I withdraw cash from my OLG account
No, you cannot withdraw direct cash but your money can be withdrawn on your banking process.
OLG required to ascertain the identity of Players in accordance with Federal laws enforced by FINTRAC prior to the disbursement of funds. In addition to regulations, there are restrictions placed on returning funds to the original source (e.g. Credit Card).
There are few options that allow OLG to meet out regulatory requirements and business needs. The EFT method chosen gives OLG the opportunity to meet them.
Q6. After how many days will I get my money?
OLG typically processes withdrawal requests within a business day. Once the request is processed, your financial institution will typically take two to four business days to complete the withdrawal request via Electronic Funds Transfer.
Q7. Are there any withdrawal fees?
No there are no withdrawal fees.