Legal Sportsbook Payouts + Withdrawal Methods
Of course we're going to have a section dedicated to payouts, because after all that's what sports betting is all about right - winning big and getting paid out from the sportsbooks fast and efficiently. Sports betting sites will offer their players a range of different choices to pick from when selecting the best method for them to withdraw their winnings, whether it is all of their account or just partial.
The details in the payout process of a sports betting site are important to go over, because they can ultimately determine the proper way to go about the withdrawal process for an individual player. Remember though, what may be good for one player might not be the best for the other and certain states have betting laws which others do not.
There are several parts of the payout process that will decide the method for you. Some players place an emphasis on getting their winnings as fast as possible. Others might not be flexible on the way in which they want to receive. And then let's also not forget the fees that players might have to pay in order to receive their method a certain way.
What Is The Fastest Sportsbook Payout Option For U.S. Players?
Wire transfers can be received by the player in as little as 12 to 36 hours, making it the fastest available method to receive a payout. Wire transfers are very commonly offered among sports betting sites, and make for a great way to withdraw the winnings that you earned in your betting.
Be sure to note that not every option will be available depending on the deposit method you chose when funding the account - some sportsbooks have stipulations that money must with withdrawn the same way that it was originally deposited.
Fastest Sportsbook Payout Methods For 2022
Those who gamble sports online in the United States will definitely notice similarities in the payout options that are available to them, regardless of the betting site that they happen to hold an account with. If a sportsbook accepts American players, there are only a finite amount of options. But the nice thing is that they are all quite different, opening to a wider potential set of users.
Bitcoin – Bitcoin is a digital currency that has taken over the sports betting world. Bitcoin is always the fastest method for sportsbook payouts, with funds sent within minutes of a withdrawal request being approved. You can also enjoy zero fees when opting for bitcoin payouts at legal online sportsbooks.
Electronic Cash Wire Transfers - American sports gamblers will be hard pressed to find a faster payout option available to them than they will with wire transfers. Western Union is very popular, as is a MoneyGram. Both are under the same umbrella term, but they can have different limits on what can be paid out. Sometimes WU can payout more, sometimes it's MG depending on the site.
The fees that come with these deposits are also different most of the time. Fees for a wire transfer directly relate to the amount of money that the player is choosing to withdraw from their account. The more taken out, the higher than the fee to do so.
Bank Wire - Transfer Funds Back To Bank Account - Think of the bank wire as the method of choice for the big boys in the online sports betting arena. This is for the bettors who play for lots of money and can cash out big. Bank wires can take up to 10 days to be received by the player, but despite the fact a lot of money can be had, the fees are quite low. This certainly makes it appealing.
Paper Checks + Bank Drafts Through Mail / Courier Service - In an age with the Internet and online sports betting, the check is still the most commonly offered payout option to account holders. Different check options can be sent out through the mail, or a courier. The time it takes to receive a check can be about seven days or upward of three weeks at legit sports betting sites. This method can vary by sportsbook as well, with different minimum and maximums withdrawal amounts + options for delivery. And while there can be fees, the good news is that most legit sports betting sites offer free payouts once every 30 days or calendar month.
Money Orders/Cashier’s Checks - At sportsbooks which have the money order and cashier's check option, there should be the same chance to receive a payout this way. In order to do that though, players will have had to fund their account with a money order or cashier's check to start. The minimum payout options are typically much higher than a standard check.
Sportsbooks With Fast Withdrawal Times
Don't Forget To Figure In For The Time To Process The Payment
Regardless of what payout method you pick, it will all start with submitting a withdrawal request at the sportsbook, which will take about a day to be approved. This can add additional time to the time it takes to get paid... one of the reasons we stick to the legal online sports betting sites shown above is because they do not take a long time just to make the decision to pay.
From there, the payout form and amount you requested to withdraw will be sent to you. Sportsbooks make it a priority to pay their player out on time and as fast as they can.