Here’s one thing that all sports bettors can agree on: They want their money fast. And I don’t blame them.
When you put a lot of effort into doing research before making a wager and keeping yourself informed, you reserve the right to reap those rewards!
Today, I’ll cover how you can take advantage of sports betting’s quickest payouts. Finding a trustworthy sportsbook can be a time-consuming task, and the last thing you’ll want is a weeks-long wait to cash out your hard-earned funds.
Sports Betting Sites With the Fastest Payouts
Before we get into the meat and bones of this article, we wanted to provide you with our list of online sportsbooks with the fastest payouts. If you are looking for a site to bet on sports today and get paid today, these sites are for you!
Introduction to Sports Betting Payouts
There is one most assured way to get a nearly instantaneous payout, and that’s heading for the sportsbook or casino with your winning ticket and cashing out.
Unfortunately, most sports bettors don’t live in areas where that’s feasible. Many sports bettors are forced to use online sportsbooks not out of convenience, but out of necessity.
While most of the US is pushing for legalized sports betting, only a small number of states have legal sports betting options available. This leaves a considerable portion of the betting public on the outside looking in.
This opens the booming market for online sportsbooks. Many of these operations operate as an offshore site.
Wait, is that legal? Well, they’re technically not doing anything illegal considering they don’t operate within the US. Furthermore, it’s not illegal to place bets with these offshore sportsbooks in most areas either. I’d suggest checking your local regulations and weighing the options.
I’ve never heard of a sports bettor being targeted by law enforcement for using one of these online sportsbooks. I make this distinction to illustrate the importance of paying attention to the payout policies when choosing an online sportsbook.
Rest assured, many of these sites operate entirely on the up and up. However, a few bad apples have tarnished the reputation of online sportsbooks. Regardless of the legitimacy of the online sportsbook, you may still be in for a long wait. That’s why you must gather all of the available information when you choose a sportsbook.
Remaining Patient With Payouts
Sometimes, financial transactions simply take time for reasons outside of the sportsbook’s control. Most reputable sites will clearly communicate their withdrawal policies and process in their terms and conditions. I know, nobody wants to go line by line reading technical legal jargon.
Would you rather find out your money isn’t available after it’s too late instead? You can simply avoid most of the pitfalls that can plague the payout process by doing your homework when selecting a sportsbook.
The substandard sportsbooks will give you a list of excuses more protracted than a Walgreens receipt as to why your funds are tied up. Some others will simply put a “pending” status on your transaction.
Obviously, these are attempts to coax you into changing your mind about the withdrawal. Don’t grow so hastily impatient that you succumb to their shenanigans. I’ve seen more than one sports bettor go all-in with a poorly chosen online sportsbook only to have the punter’s financial institution reject the transfer.
This is perhaps the most catastrophic outcome imaginable. Put yourself in their shoes… You find what you believe to be a favorable sportsbook and make a significant deposit. After all, they offered you a deposit bonus of $250 just for signing up. Plus, the lines look great on your favorite sports.
You have a few solid weeks, followed by a beautiful week. You’re up big, approaching five figures. Then, you decide to take a payout on your winnings and treat yourself to a nice vacation. You jump through all the hoops with the sportsbook and expect to finally see the money hit your account. But there’s a problem.
Could this be another delay? A shady tactic by the online site?
No, after hours of phone calls, you’ve determined your bank rejected the money. Devastating at best, worse if you actually need that money for an unexpected emergency.
Let’s take a look at how to avoid this sinking feeling.
Research Sportsbook Payout Schedules
You may not know that many sportsbooks don’t process payouts as they’re received. In fact, many reputable sites only process payouts on specific days. This can make for some impatient sports bettors.
Suppose the company with your money only processes withdrawals on Thursday, and you request a payout on Friday. In that case, you’re in for a long wait.
Most online sportsbooks will process withdrawals at least twice a week. This can still put an unnecessary delay in receiving your funds.
Look for the online sportsbooks that process payouts immediately. A simple online search should yield exactly what you’re looking for. Not all online sportsbooks offer them, but ask about any VIP programs your sportsbook may offer. Being a VIP doesn’t necessarily place you at the front of the line for payouts.
However, your status as a VIP won’t hurt when you ask for an expedited payout. And it COULD help.
Understanding the Payout Process
If you’re new to online sportsbooks, you probably have a ton of questions. What’s often overlooked are the payout procedures of the companies that have your money.
Now that I have given you an overview of how payouts work, pitfalls to avoid, and some tips to make the process as painless as possible, let’s take a more in-depth look at what your payout will likely look like from beginning to end.
To start the payout, you must request the withdrawal.
Assuming, of course, that you have a positive balance, simply log into the site’s cashier portion and request how much of your balance you’d like to take out and how you’d prefer to receive the funds. Once the payout request is received, the sportsbook will run an ID verification, sometimes referred to as a fraud check.
The sportsbook doesn’t want to send your money to a scammer any more than you want them to. This is typically a simple process, but you need to know that it can slow things to a halt if they are trying to contact you and are unable for any reason.
If you haven’t sent in your identifying paperwork before you request a payout, you’re in for a wait. I see many bettors skip this simple step in the beginning and have to wait up to weeks for a withdrawal.
Save yourself the trouble and knock this out early. If you choose to procrastinate, you should only have to deal with the inconvenience of your first withdrawal. All future payouts will be quicker because your documents are all on file.
After the sportsbook is satisfied that you aren’t some sleazy fraudster, your payout will be processed. Remember that payouts are often only processed on certain days, and you may not receive an immediate confirmation.
This step is the initiation of a financial transaction, though. So, the wheels are in motion.
Finally, you’ll receive the funds, depending on the method of payment you chose when requesting a payout largely determines how long this can take.
Getting Your Funds
You may have to wait a significant time depending on your payment method. Here are a few of the most popular options and how long you can expect to wait for each.
Usually, a credit card or debit card payout can be received in one to three business days. Of course, there are outliers where it could be up to five days, but those are rare. I accept this as a reasonable amount of time. Still, I would probably feel differently if I suddenly needed that cash for something.
Wire transfers to your bank will typically take a little longer than a credit or debit card. I’ve heard of these payouts taking as few as 48 hours and as long as 10 business days. One key thing to keep in mind is that you’re entirely at the banks’ mercy in most cases. Once the payment is sent, it’s out of the hands of the sportsbook.
For those of you waiting on a check from the sportsbook, you’re in for the most extended wait. First, you’ll have to wait for the mail for the check to get to you from the sportsbook. It’s likely being shipped internationally, and delivery times can be frustrating.
When you finally deposit the check in your account, the bank could put a hold on the funds for another week. The entire process could last upwards of four, maybe even six, weeks. That’s a long time to wait for your money.
Online wallets seem to be some of the fastest options available. I deal with a lot of PayPal transactions as both a sender and receiver, although not for sports betting purposes. Other wallets specialize in sports betting, though.
These transactions almost always go through within minutes.
Sometimes, the funds arrive in seconds. If your sportsbook offers this type of payout as an option, I highly recommend taking advantage.
Conclusion
A magic button to instantly transfer funds between your account with the sportsbook and your bank doesn’t exist.
Your best bet for sports betting’s quickest payout is to read online reviews of existing customers and follow the guidelines I’ve provided here.
Sports betting is meant to be entertaining. Don’t have the good times spoiled by a terrible payout experience!
Michael Stevens
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. …
