That’s not to say you shouldn’t join Bovada. In fact, we highly recommend them. But I do want to paint a worse-case scenario so you can see what choosing a sportsbook (over another) can mean for you.
Tired of Waiting for Your Monies? Then Join a Fast Paying Betting Site
Betting offline vs. betting online. There are many, many differences between the two.
One of the biggest differences – no, suckiest differences – is the time frames in which you’re paid your winnings.
Below we have listed what we’ve found to be the fastest paying betting sites:
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Cashing out in a land based casino is instant. Your “wait” is however long it takes you to walk from the sportsbook area of the casino to the cage. Then maybe a minute while the cashier punches in your ticket and counts out your monies.
That’s it. Your payout is instant.
Online, not so much. The best case scenario is hours. But what’s more likely is a few days to a few weeks. Maybe a month. Some posted minimum time frames is 5-6 weeks.
This makes bettors antsy. Understandably so, too. Who wants to wait weeks or months to get their money?
So, naturally, bettors have turned to Google asking:
- Who is the fastest paying betting site?
- What sportsbooks offer instant cash outs?
We make no guarantees though (because this is a dynamic industry), but we’ll do our best to point you in the right direction.
But first I want to explain to you the different variables and how they impact the withdrawal process – including how fast they move from your player account to your greedy little hands.
The Cash Out Process (and Why You Should Care)
Let’s start with how a cash out works. The process. Then I’ll explain why this matters to you.
This is the first step to cashing out. You need to prove that you’re you.
Most, if not all sportsbooks will ask you to fill out a form. You’ll also need to send in a few different forms of identification. This can include your ID, banking statements and/or utility bill.
This can take a couple days to complete, assuming there aren’t any problems. So, I recommend doing this once you make your deposit. Otherwise you might face delays when you go to cash out.
The next step is for the casino to process your request. This means looking at your request, making sure it’s okay for you to cash out (you meet their terms, haven’t broken the rules, sent in your verification forms, etc.) and then making your payment.
Processing times vary wildly. It depends on payout method and sportsbook. But I have seen times range from 1 hour to several days. Keep in mind this time frame doesn’t include the actual sending of your money.
3rd Party Payment Processors
Once the sportsbooks sends the funds, they usually go through an additional payment processor. This can be a bank, e-wallet or some other sort of processing company.
It takes them time to process the payment from the sportsbook to you. This, too, depends on multiple factors. Are they legal? Is there a problem with your payment or account? Is your bank, card or wallet accepting/declining the payment?
Finally, there’s the banking method you use. Each one has its own time frame for the payment to clear (which probably goes hand in hand with the payment processors).
Choose one method and you might wait hours. Choose a different method and you might wait days or even weeks.
I’ll outline each method and how fast they’re expected to deliver in just a second.
Do you see what I’m saying? There are many wheels turning behind the scenes. And they all need to work flawlessly in order for you to get your payment on time, much less get it fast. If any one of those wheels break – if they stop or slow down for any reason – your payment will be delayed.
What Else Delays Payouts?
Now that you have a general idea of how the cash out process works and how a problem there can delay your payout, let’s get specific – what else can delay your payout? What else can slow it down?
Here are a couple examples:
(Allegedly) Breaking Terms & Conditions
The sportsbook might delay or even decline your cash out request if they suspect you broke their terms and conditions.
As for reasons, there are many. Worse, shoddy sportsbooks will make stuff up. But common examples include being a pro gambler, being involved with a gambling ring, abusing a bonus, not fulfilling bonus terms, or making prohibited bets. The list can go on and on, really.
And, it’s possible IT IS your fault. But in other cases – especially at industry-average (or below) books – it’s quite possible they’re giving you an excuse or the runaround.
Another instance where your payout may be delayed is when you’re betting at a rogue, or very, very shoddy sportsbook.
They’ll delay your payout for all sorts of “reasons” (the ones I mentioned above).
In many cases they’re waiting in hopes that you’ll get tired of waiting, cancel your cash out, and then go back to betting at their book It’s called reversing your winnings.
Another reason is they simply don’t have the cash on hand. They need to wait until more players lose their money back, or make another deposit, before they can cash you out.
In fact, I heard of one case where a sportsbook had to delay payouts until the start of NFL season.
American Banks & Payment Processors
A problem that Americans face is the UIGEA. This is a law that was passed back in 2006. Most people think this law makes online gambling illegal. That’s not true.
What it actually does is make payment processing (for online gambling) illegal. In other words, if Bank of America knows you’re trying to fund your 5Dimes account (or receive a cash out from them), they’re not supposed to send it through. They’re supposed to decline it. Otherwise they face SEVERE consequences.
So, there are a couple points of (possible) failure here:
- The bank/merchant knows you’re receiving a payment from a gambling site and declines the transaction.
- The payment processor is having troubles (legal or otherwise) and have to come up with a workaround to get your payment through.
- The sportsbook has to find a different payment processor.
These are the biggies that will delay your payout, but I’m sure there are plenty of others.
One way to avoid these problems is to join a legit sportsbook. They will have their ducks (payment processors) in a row, and are known to pay their customers. Bovada is a good example. I also suggest joining a book that doesn’t have a problem taking action from pros or high limit bettors. Pinnacle is a good choice.
How to Speed Up Your Payouts?
There are a couple things you can do to speed up your payouts (on top of everything I already mentioned above):
- Take advantage of VIP programs.
- Join the right sportsbook.
- Choose the right banking options.
Take Advantage of VIP Programs
One option is to find a book with a VIP program. Or, request VIP access with your current book.
This is more common with casino and poker VIP programs, but a common perk of being a member is receiving preferential treatment. If you’re loyal and spend a lot of money with the sportsbook, sometimes all you have to do is ask, “Hey, can you speed up my payout?”
Sometimes expedited payouts are a part of the program. This doesn’t speed up banking method or the processing on your end, but it does move you to the front of the line at the sportsbook.
Join the Right Sportsbook
Each sportsbook is different – they have different cash out limits, processing times, verification procedures, and so on.
For example, some sportsbooks will handle bitcoin transactions within minutes. That means you’re getting an instant payout.
Bovada states their processing times can take up to 48 hours. From there you’ll get your bitcoin in 1-7 hours.
That’s a big difference. One of the biggest benefits to using bitcoin is the speed in which you can send and receive it. But through Bovada, the processing time makes it no different than a cash transfer or bank wire.
I saw a forum post from a year or so ago where Sportsbetting.ag had processing times of 5-6 weeks to get a check-by-courier.
Compare that to posts about Bookmaker from a few years ago. They were sending paper checks by FedEx. Customers got them within 1-2 days of requesting them.
The bottom line is you need to do your homework. You need to review each sportsbook before you join one (you can use our reviews for guidance). But don’t stop there – you need to continue to review them after you join to make sure they’re still up to your standards.
Choose the Right Banking Option
This is the most important thing you can do. Each method has its own time frame (which starts AFTER the sportsbook’s processing time).
Here are the options, from fastest to slowest:
- Bitcoin – Instant (once sent)
- Prepaid Debit Card – Instant (once sent)
- E-Wallets (PayPal, Neteller, Skrill) – Instant to 3-4 days
- Money Transfers – 1-3 days
- Bank Wires – 1-10 days
- Credit/Debit – 2-5 days
- Paper Check – 2 weeks
This is (clearly) best case scenario. And it varies (oddly) from book to book. Probably in part to each individual’s payment processors.
One last thing to point out – each banking option still has pros and cons. You might get your speed, but just realize that there might be tradeoffs.
- Bitcoin – This is a limited supply virtual currency that has a value that fluctuates on a day-to-day basis.
- Prepaid Debit Cards – These often have an overall limit. And even though you can go directly to the ATM to get cash, those (usually) have limits, too. You might have to go back daily for a few days to get ALL your cash. And then do it all over again your next payout.
- E-Wallets – Only available to bettors outside the US.
- Money Transfers – I’ve seen forum posts and comments about how the people at services such as Western Union will start asking questions about where your money’s coming from if they see you too often.
- Bank Wires – Your bank may find out where your money’s coming from. They may decline the transaction. In a worst case scenario, they’ll close your account.
- Paper Check – Same as money transfers. You might be asked where you’re getting these weird, foreign checks from.
Of course, most of these downsides apply to Americans. If you’re not American, chances are you can bet at the bigger, better and more legitimate sportsbooks (Bet365, 888, Pinnacle, Titan, etc.) where payout methods and withdrawal times are less of a problem.
I hope this helps.
The answer of who’s the fastest paying just depends on so many factors. Some are in the sportsbook’s control, some are in yours, and some are in neither.
And, in some cases – like for Americans – you really need the perfect storm to get fast payouts. A miracle for instant or same day payouts.
The best you can do is this:
- Understand the process (so you’re prepared).
- Choose the right sportsbook (who has fast processing times, VIP perks and won’t give you the runaround).
- Choose the right banking method (for fast delivery times).
Oh, and cross your fingers.
That’s how you get fast payouts.
Sportsbook Payout FAQ
We receive lots of questions about getting fast cash-outs from sportsbooks. We’ve added those here with our responses for your convenience.
Which sportsbooks have the fastest payouts?
This depends on who you ask. Each review site says something different. And – and this is REALLY important – it changes from month to month. Sometimes sportsbooks run into problems or have a bad month. That’s why I suggest you regularly review who you’re betting with.
You can see the time frames, payout options, fees and notes on our latest payout report.
Does any sportsbook offer same day or instant cash outs?
The closest anyone will get to same day / instant payouts is to use bitcoin. If the sportsbook processes it fast enough, you can have your money in minutes – definitely in the same day.
Most books won’t promise that. Especially hybrid books (those that take both bitcoin and fiat currency).
Why are fast payouts a good sign?
They’re a good sign because they show a sportsbook is liquid, flush with cash, that they’re not having cash flow problems.
That said, fast is relative. I wouldn’t consider 4 weeks fast, but if the sportsbook is legit and pays, then clearly (as far as I can tell, anyway) they’re not having money problems.
Do bets or size of winnings play a role?
Relatively speaking, it can.
For example, you might be able to get a bitcoin transfer within 3 days at 5Dimes.
However, their max is $10,000 per transfer. You can get maybe $20,000 per week at that pace. So, if you want to cash out $500,000, it might take 6-7 months to do that.
Is that a long time? Well, not really – you’re still getting paid fast. But because of the $20,000/week you have to wait longer than if you were able to cash more out per transaction, or if there were no limits at all.