There’s no denying that online gambling is one of the most popular activities among players of all ages, backgrounds, genders, and nationalities. Year after year, it engages millions of people and lets them experience fun, thrill, and excitement without a need to go anywhere.
Not surprising that thousands of online casinos struggle really hard to grab the attention of their players and remain competitive. They apply lots of different strategies: a broad game variety, rewarding bonuses, exclusive offers, and fast withdrawals. In this post, we are going to discuss what the payout speed is, the main things that impact it, and the payment options with the fastest cashouts. Stay tuned!
Payout speed definition
Everyone and their dog say that gambling is all about fun and entertainment. And it is really so! But let us not dissemble: we all want to win and make some money. Moreover, we want the money to land on our accounts as quickly as possible.
That is why the payout speed becomes one of the most important features for any gambling site. It is a period needed to withdraw the winnings from the casino account to your card or wallet. As a rule, fast paying casinos are those which are able to complete the process in less than 24 hours. Catalina Kirby, Gamblorium’s expert, recommends choosing a gambling site without a pending period if you want to find a platform with instant withdrawals.
What influences the payout speed
The payout speed differs from one online casino to another and is based on several factors including:
- The gambling site itself. Depending on its size, experience, and organization, there might not be a dedicated team for processing withdrawal requests. Or they might work only several hours a day. Plus, the casino may follow strict KYC and anti-money laundering policies and apply multiple verification measures and procedures that prolong the payout process.
- The chosen payment method. Some options, like e-wallets and cryptocurrencies, are fast and take only several hours to conduct a transaction. However, bank cards and direct transfers are rather slow and you might wait up to 10 business days for the money to end up on your account.
- Terms and conditions. Almost all gambling sites have a set of requirements that players need to meet before they are able to request a withdrawal. These requirements concern the minimum withdrawal sum, wagering requirements, and so on. That is why you should always read the T&C attentively to be sure that you are eligible for the payout.
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Payment methods with the fastest withdrawals
When it comes to playing at online casinos, there is one thing that engages gamblers not depending on their budgets and preferences. They want to cash out the winnings as quickly as possible.
You already know that the payout speed depends on several factors. And in this paragraph, we are going to discuss one of such factors – the choice of a payment method. We’ve made a list of the fastest and the most convenient options that ensure quick and secure payouts:
- PayPal. This online payment system was introduced back in 1998 and by now has more than 250 million active accounts. Even though it is not available in all online casinos due to legal and geographic restrictions, PayPal remains one of the fastest payment options both for deposits and withdrawals. Usually, the cashout period is less than 24 hours.
- Cryptocurrencies. It is a well-known fact that crypto is making the gambling industry better thanks to outstanding security, convenience, and anonymity. The number of casinos that accept Bitcoin, Ethereum, and other coins is growing exponentially, and they are considered the fastest withdrawal methods at the moment.
- Skrill. This third-party processor operates in more than 120 countries and is accepted in thousands of online casinos. When seeing Skrill in the list of payment methods, be sure that the withdrawal will be fast, convenient, and secure.
- Neteller. It is an e-wallet with a great reputation both among beginners and experienced players. The main advantages of Neteller are speed, low fees, and wide acceptance.
Such common payment methods as debit and credit cards, as well as direct bank transfers, and cheques remain more popular but inferior to the methods above in terms of payout speed. So if this feature is important for you, we recommend picking one of the options from the list.
Wrap-up
The industry is evolving and gambling sites have become much faster at processing transactions. To speed up the process, they reduce pending times, cooperate with instant payment systems, and use the latest software to automate all the processes. It is as clear as day that the payout speed will continue to improve until the withdrawals become instant. Let’s hope that this time will come very soon.
Read more: Best Gambling Payment Providers
