Opening your first account on an online betting site can genuinely be an intimidating experience. To the novice, they may all look the same, seem to offer great bonuses, and have plenty of ways to accept your money to fund your account.
But how they handle paying out money is what tells the real story about the financial health and authenticity of an online betting operator. One of the most important factors when determining the safety and reliability of an online betting site is how quickly it processes withdrawal requests.
When we rank the best online casinos, we vet things like the range of games being offered, the quality and professionalism of the site design and the rewards and bonuses provided. The last thing we want is for someone to find their ideal casino or sportsbook, deposit large sums of money, win, and then have a frustratingly tedious time attempting to withdraw their money.
Unreasonably slow payout times can ruin an otherwise excellent experience for the gambler. And for this reason, we have created this page. Here you will not only find the online betting sites with the quickest payout speeds, but we will explain the attributes we research when determining our rankings.
We believe the following online betting options have the fastest payouts:
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Why Fast Payouts are Important
Safety & Authenticity
If you peruse the internet for online betting sites, you will notice that there are many certifying bodies and even more blacklists and warnings about online scam sites. One of the easiest ways to identify a fraudulent website is slow withdrawal speeds.
Many of the sites will eventually give you the money that you requested, but there is an unethical method to their madness. The belief is that by holding your money longer, you will lose patience and see a bet that you’d like to make while you wait. They want you to keep betting with that money rather than pull it from your account. The delay is to ensure you continue playing so that even if they do get around to paying you out, it will be for less if anything is left at all.
Conversely, a website that does not need to stoop to these tactics shows us that they are operating on the up-and-up. The sites that we recommend care more about providing an enjoyable experience for their customers. In return, they get more traffic and more repeat business. While the scam sites are a short-term cash grab, the legitimate sites thrive by offering fast withdrawals and quality websites.
Fast payouts are also a great indicator of the financial health of the institution with which you are placing bets or gaming. In order to process and payout withdrawal requests quickly, the company must have deep pockets. The reason is, for each withdrawal option they must have a well-funded account of that type that can move large amounts of money at the customer’s request.
So, quick withdrawal times is an excellent way to predict the long-term success of a betting site. Knowing they have several payout options with fast payouts, you can deduce that the corporation is well-funded, has a large customer service department that is processing requests, and is willing to spend on staffing and operations to keep customer’s happy.
As mentioned previously, it takes a big team to manage incoming withdrawal requests and payout customers at a reasonable speed. If a site has a quick payout speed, you know that they are willing to hire the appropriate staff to deliver the best gambling experience. From the customer side of things, this is priceless.
If they are staffed well enough to handle withdrawals, they are most probably staffed appropriately to handle customer issues as well. So, just by knowing that the website you are about to open an account with allows for fast withdrawals, you can assume that they will be quick to answer any questions or issues that you have as well.
Common Payout Options
PayPal & eWallets
Paypal is the most popular of the eWallets. These payment methods allow the consumer to make financial transactions without having to link their banking information directly. PayPal and other eWallets are some of the best options to receive fast payouts. They are one of the fastest methods of moving money. They also carry lower fees than some other options.
Bitcoin is a crypto-currency that is growing in prominence. It’s a type of digital currency that is decentralized, and there are a finite amount of bitcoins in existence. Bitcoins are “mined” by using computer processing power to solve complicated equations.
The cryptocurrency is stored in “wallets.” There are two types of wallets, full clients, and lightweight clients. Lightweight clients are the more commonly used wallet type, as they can be used on smartphones. Full clients verify transactions on a local copy of the blockchain, which can be several hundred gigabytes. The size and complexity require more powerful computing devices.
As BitCoins continue to grow and become more mainstream, they are gaining traction as the currency of the future. More and more casinos are accepting and paying out in BitCoin, and this trend will most likely continue. They are a great way to deposit funds since the transactions are anonymous.
This is not a particularly fast way to deposit or receive money. However, it is dependable and allows you to receive the funds directly to your checking account. While eWallet services and BitCoins require the player to collect the money into their wallet account and then set up a transfer to their bank, the eCheck removes the middleman. Regardless, they still have slower overall processing times.
Most online betting sites will accept credit and debit cards. These transactions typically take two to five days. They aren’t the most secure form of payment, and some people are hesitant to give their card information to an online site.
If you choose to have your withdrawal deposited directly into your account, the payout times may vary wildly. These can take anywhere from 1-10 days. A general rule is that the more you utilize this method of payout, the shorter the wait becomes. This process requires the user to provide the betting site with their banking information including their account and routing number, which may be a deal breaker for more security-minded bettors.
Additional Key Factors in Our Rankings
While fast payout speeds are critical, they aren’t the only factor we consider when compiling our recommendations. There are some necessary requirements that we vet as well to ensure that in addition to your quick payouts you’ll receive the best customer experience possible with a straightforward, hassle-free process.
Before we send you to an online betting site, we want to verify that the website is professional, well organized, and easy to navigate. A poorly designed website can make life incredibly frustrating for customers. Things like broken links or difficult-to-locate customer service sections are unacceptable, and so we do this research ahead of time for you.
Positive History and Reputation
You know the saying “history repeats itself?” Well, it also applies to online betting websites. Gambling operations with a history of scamming customers or with a bad reputation from past dealings do not make the cut. We only recommend sites with a proven track record of ethical business transactions.
Responsive Customer Service
The ability to contact customer service when they are needed is of the utmost importance. Being unable to get into communication when you need help is one of the more infuriating things we all go through. That’s why we make sure our recommended websites won’t leave you hanging.
Most websites have several options for contacting the customer service department. They usually have an email address, phone number, and many have a live chat/ instant messaging feature.
A thorough customer service section should also have a Frequently Asked Questions page.
Rewards Programs and Bonuses
Since you’re going to be depositing your hard-earned money, you might as well get something in return, right? Due to the competitive nature of the online gambling industry, it is industry-standard to offer incentives for signing up, depositing money, and for being a loyal customer.
Most of these gifts come in the form of free plays or matched deposit amounts. But some of the loyalty rewards include perks such as cash back on a percentage of losses. For the active gambler, these can be a significant reward, and so it’s worth factoring into our rankings.
Things to Keep in Mind
Before you make your decision and sign-up with a betting site, there are just a few more things to keep in mind. These all pertain to the payout speeds that you can expect and are easy to miss if you aren’t experienced in online gambling.
Cash Out Limits
Regardless of the speed at which an online betting site can send you your money, if they have low cash out limits, it can still take an inordinate amount of time to receive your payment. Make sure to research if the website has weekly or monthly payout limits. Some also have individual transaction limits. Depending on how much you are planning to bet with, make sure the withdrawal limits will allow you to move money at a rate that you’re comfortable with.
Terms and Conditions
You should also read the betting site’s Terms and Conditions before depositing your money. Many places have specific criteria that you must meet before being allowed to cash out, especially if you accept bonus money. It’s just sound practice to ensure that you know the rules before making an investment of time and money with a site.
Different Payments Work Better on Different Sites
Depending on which website you are using, they may process some payment types quicker than others. For instance, some online casinos exclusively operate on BitCoin. You can expect these sites to handle BitCoin withdrawals faster than a website that traditionally utilizes eWallets or credit cards.
Basically, there are no hard-and-fast rules when it comes to payout speeds; the timelines vary across different platforms. So, do your due diligence and examine which transaction types a website specializes in. Like the example above, this is particularly important if you are planning on paying in BitCoin.
The Wrap Up
You want your money, and you want it now! And that’s perfectly reasonable, after all, it is your money. That’s why we have extensively researched the fastest payout speeds in the industry and provided a list of the online betting sites that perform the best.
Payout speeds aren’t just relevant because it’s more convenient to get your money quickly, they also tell you about the company. Faster payout speeds show you that the betting site is financially stable and able keep large amounts of cash in numerous accounts to meet withdrawal demands. It also tells you that they’re willing to hire the appropriate staff necessary to process requests. If they have enough staffing to handle payouts quickly, they also have the personnel to respond promptly to customer service issues.
Even though we’ve done the bulk of the footwork for you, make sure you also know what to look for yourself before signing up. Read the Terms and Conditions and familiarize yourself with the rules before accepting bonuses or placing bets. Things like unmet rewards criteria and low withdrawal limits are the most common factors that will slow down your payouts if you aren’t careful.