After a win, it’s natural to want to pocket your winnings sooner rather than later. To avoid you having to wait around for your cash, we’ve outlined the fastest paying betting sites, pay out methods, and what to keep in mind while making your withdrawals.
Best Betting Sites for Fast Withdrawals – Ranked
What is the Withdrawal Process On Betting Sites?
The betting withdrawal process undergoes three stages:
To receive your winnings, you will have to prove your identity. Some bookies ask you to do this as soon as you create an account, others will ask for it when you request your first withdrawal. Either way, the process is the same. You will be required to send copies of your passport or driver’s license, and many bookies will ask for a recent utility bill, bank statement or credit card statement to prove your address.
#2 Request your Pay Out
When you decide it’s time to cash out your winnings, you have to request a withdrawal. Betting sites will have a cashier (which may also be titled a wallet) where you can request the amount and banking method that you want.
#3 Payment Processing
After you’ve submitted your request, the sportsbook will review your account information to make sure that it can be processed. The time this takes varies according to the bookie, but you will usually hear back within 24-48 hours. Once your withdrawal is approved, the bookmaker will transfer the funds using your selected payment method.
Why Quick Withdrawal Times are Important
Swift withdrawals are always a great sign of a bookmaker’s credibility and demonstrates how highly they value their customers. If you’ve won some money, you deserve to have it in your pocket as soon as possible. No matter what you want to use it for, getting in your money in hand without delay is always going to enrich the betting experience.
Which Online Withdrawal Methods Are Fastest?
The best thing you can do to speed up your withdrawals is to select a quick payment method. Below are some of the leading withdrawal methods that punters can use to cash out their winnings.
Extremely popular among punters, debit cards are offered by almost every sportsbook around. Withdrawals to debit cards (usually VISA or MasterCard) go directly into a punter’s bank account from their betting account. Despite their popularity, debit cards aren’t known to be the quickest withdrawal method since it usually takes a few days. However, the recent emergence of VISA Fast Funds – supported by bookies such as BetVictor, William Hill and Betfair – has changed the game, allowing punters to transfer funds into their account within 30 minutes to 4 hours.
Besides keeping punters protected while betting online, eWallets are fantastic because of their rapid withdrawal times. Big names include the godfather of e-wallets, PayPal, as well as Neteller, Skrill, Trustly, EcoPayz and paysafecard. These methods are offered by most leading online bookmakers, and often make it possible to receive same day pay-outs (depending on how long the betting site take to process the withdrawal request). It’s also worth mentioning that many bookies allow users to deposit via ApplePay or GooglePay, but withdrawals are typically done through bank transfer or debit cards.
If you want swift withdrawals, bank transfers aren’t going to be your preferred method. You could be waiting for up to 5-10 days to receive your winnings, which is why they’re one of the less popular methods that punters resort to while betting online.
One of the more unorthodox ways to deposit and withdraw from your betting account is through a cheque. This is the slowest way to claim your winnings since, after requesting the withdrawal, you have to first wait to receive the cheque by post, and then cash it or deposit it at your bank. The time frame can range anywhere between 5 to 28 days, making it one of the more unpopular withdrawal methods.
Good to Know
- Every bookmaker sets maximum pay out limits, indicating how much you can withdraw at one go, weekly, monthly et cetera. Familiarise yourself with these limits to avoid disappointment.
- Sometimes (thought not always) you’ll be forced to withdraw using the same payment method that you deposited with. So for example, if you deposited using your VISA debit card, you’ll have to withdraw using that same card.
- Do not use a payment method registered under someone else’s name to deposit funds into your account – this is not allowed. Chances are, when you go to withdrawal the bookie will reject your request and confiscate your winnings.
- Your withdrawals will only be processed on working days. If you request a withdrawal over the weekend or on a bank holiday, you will have to wait longer for your winnings.
- Most bookies set wagering requirements for bonuses before they can be withdrawn. These are the conditions you must meet to withdraw winnings associated with the bonus offer.
What Could be Delaying My Withdrawal?
Before a withdrawal can be cleared, an operator will go through a KYC (know your customer) check to verify your identification, selected payment method and address. There are a number of reasons your withdrawal might be delayed, such as:
- You haven’t sent in the right documentation
- You selected a different withdrawal method from your deposit method
- You deposited using a payment method registered under somebody else
- You tried to transfer funds into somebody else’s account
In these situations, we recommend contacting a customer support agent to resolve the issue.
It has also been suggested that some bookmakers take their time to process a withdrawal to try and persuade punters to change their mind, cancel the withdrawal and use the funds to bet instead. This is another reason why we suggest using bookies with quick pay out times – it lessens the temptation to do such a thing.
In a worst-case scenario, an operator could be delaying your withdrawal because of illegal practices. Unfortunately, these things do happen, which emphasises the importance of registering with bookies that are licensed by reputable gambling authorities. All the bookies we suggest are licensed by the UK Gambling Authority (UKGC), since this is largely recognised to be the most trustworthy gambling license provider. To add an extra layer of transparency, you should also keep an eye out for licenses from:
- The Malta Gaming Authority
- The Isle of Man Gambling Supervision Commissioner
- The Gibraltar Regulatory Authority
In a situation where you feel a bookmaker is unfairly withholding your money, you should raise a dispute with IBAS , a company that handles disputes between punters and licensed gambling operators.
Fastest Withdrawal Betting Sites FAQs:
⏩ Which Betting Sites Offer the fastest withdrawals?
💰 How Can I Receive Fast Withdrawals?
To speed up withdrawals, select a bookmaker and payment method with short processing times and make sure that you have all the right verification documents.
💳 Which Payment Methods Allow for the Fastest Withdrawals?
VISA Direct and eWallets such as PayPal, Neteller and Skrill allow for the quickest withdrawals after the bookmaker has approved the withdrawal request.
✔ Can I Use the Same Deposit and Withdrawal Method?
This will depend on the bookmaker and payment method. However, using the same method is more likely to lead to faster withdrawal times, since this will require fewer checks from the operator’s side.
ThePuntersPage Final Say
Seeing your balance rising and picturing all the things you can do with your winnings is one of the most enjoyable parts of online gambling. Faster withdrawals simply make for a better betting experience, so it’s important to sign up with the right bookies and use the best payment methods to ensure you’re not left hanging around for your cash.