The Best Payout Gambling Sites of 2017
Bigger, better, faster... Businesses are always trying to outdo each other to stay on top, and gambling operators are no different, especially online where competition is fierce.
Online gambling has a projected growth of 10% from 2014 to 2018 and, this year, we've watched as one new casino or sportsbook pops up after the other.
A recent trend, providers use an extensive network of software providers to create a huge casino. Five to ten years ago, a few hundred games offered was quite impressive. That's now considered small as some of the current casinos are offering more than 1,000 slots games alone, all on one website.
The other trend involves payouts, and it seems to be evolving at a rapid pace. A week, two weeks, sometimes betting account withdrawals could take up to a month to get into the player's hands, especially if a paper check was being issued.
Now, you've got e-wallets, cryptocurrency, prepaid cards, and an assortment of nontraditional financial methods that allow for much faster turnaround times. Of course, the approval still lies in the hands of the betting site's accounting department, but it seems many operators have stepped it up quite a bit, with some even authorizing payments within a matter of hours.
|Rank||Best Payout Gambling Site||Sign Up Bonus||Casino||Sports||Poker||Get Started|
|#1||Bovada||Up To $3,750 Free||Visit Site|
|#2||SportsBetting.ag||75% up to $1,000||Visit Site|
|#3||BetOnline||50% up to $2,500||Visit Site|
|#4||Slots.lv||200% up to $5,000||Visit Site|
|#5||BoVegas||400% up to $8,000||Visit Site|
We've provided the above list of some of our top recommendations for sites that don't hold your cash hostage for longer than necessary. They're worth checking out if you appreciate a quick payout of your winnings.
These Sites Cross The Finish Line First
In a race for the fastest payouts, there are some clear winners. If you read on, you'll discover that there are some things that you, as the player, have to do to ensure that your payouts won't be held up, like clearing bonuses and submitting any required paperwork. But, with all your ducks in a row, you want the casino or sportsbook to do its part and get you the money in hand as quickly as possible.
Approval Time vs. Turnaround Time
Depending on the site you're using, you'll come across different terms involving the payout process. Some will refer to payment approval; others will reference a turnaround time. Every operator has its system in place for player cash outs, but those terms represent different things.
The following is the typical chain of events that occur whenever a player requests a cash out from their betting account:
- 1Player initiates the withdrawal
- 2Accounting department reviews the request and either approves it, denies it, or asks for more information - Optional: if the amount is relatively large (usually over 2,300) or it's a first-time payout for a new player, an identity or other verification procedure may be implemented
- 3Upon approval, the payout request is then sent to the payment processor that the player has specified, or a check is issued directly from the casino or sportsbook
- 4Additional time is added depending on the outside financial provider or, for checks, on the shipping method used
There is a big difference between the two terms, so be sure to identify which one the casino is using regarding its timeline.
The Waiting Period
The waiting period is another consideration but, honestly, we're talking about the fastest payout sites, and they shouldn't have a waiting period.
It's a term used for the amount of time between the withdrawal request and the accounting department reviewing and approving the payout. Until recently, many sites used a waiting period as a way to get players to reverse their payout request.
A player may have won $500 and decided to take the money and run, so he or she authorizes a $500 withdrawal. The operator puts that request into a pending status where it'll sit for 24 or 48 hours. The player then decides to play some more and maybe had some credits left when the withdrawal was first initiated but lost any remaining balance, and now wants access to that $500.
Because it's just being held without any activity, the request can be canceled and the money put back into the betting account.
You can see how a casino or book would benefit from a waiting period. However, a website competing for business that wants to be known for fast payouts is not going to implement that process.
Beware of the Hidden Waiting Period
Having just said that operators who promote fast payouts wouldn't use a waiting period, we just ran across a casino that promotes same day payment approvals but also has a 48 hour waiting period.
Technically, they can get away with it because the approval process doesn't start until after the 48-hour pending status, but it's misleading and certainly not a fast payout site.
Sometimes you give up free to get fast. When you opt for a gaming site because of its quick turnarounds on withdrawals, be sure to review all of the details first.
An expedited payout doesn't necessarily mean a free one, and we've seen some sites make good on their promise for one or two-day payments but tack on fees, so you have to pay for the service. You won't see it stated that way but just know that some sites will charge for cash outs.
Verification Equals Delay
Sometimes a payout delay isn't in the hands of the service provider; it could result from a player's delay in response.
Because you're not in a brick and mortar building in front of a cashier window where the representative can ask for your identification, you need to go through some additional steps with online payouts.
There won't always be a verification process, but most will initiate one if:
- 1You're a brand new player
- 2The amount you're cashing out is above 2,300
- 3Your withdrawal is more than four times what you've deposited in total to your betting account
If any of these apply, you may be asked to get on the phone with the casino to go through identity verification, or you may be required to submit documents confirming your identity and possibly even your bank account if there's a direct transfer request.
This is all encompassed in that accounting department approval window so, if you don't do your due diligence and follow up as needed, your payment could be delayed indefinitely. This holds true at a fast payout casino as well.
Bonuses In The Way
We just can't seem to get around those bonuses and all of the hoops that you have to jump through when you use them. They are the source of so many questions and issues, that online players have devoted entire forums to discussing them at length.
We're discussing fast payouts here, and bonuses are one way to take a speedy turnaround and delay it or even cancel the entire transaction.
If you've gambled online and accepted any deposit matching reward, you're probably well aware of the rollover requirements that accompany these types of offers. You don't just receive free money, there are strings attached, and they involve a certain amount of wagering to cash out anything.
Players that haven't complied 100% with the wagering requirements will immediately be held up in the payment approval department regardless of the site or their withdrawal policies.
Your Choices Make A Big Difference
Identity verification and bonus compliance are both in the hands of the players, but there is something else to consider; selection of payment method being used for transactions.
Your choice of financial processing can make the difference between a nearly instant payout (if the operator provides for one) to delaying it for weeks.
Bank Transfers, Credit, and Debit Cards
We should call these the "traditional methods" as they involve conventional financial institutions with strict guidelines on payment processing. When you opt to use a bank account or a card tied to an account, you have just turned over approvals and potential delays to the bank. You can experience additional fees as well as a lengthy turnaround.
Occasionally, you'll see a casino banking menu that lists instant turnaround for e-wallets, instant for Bitcoin, and then you get to bank transfers or credit cards, and you end up with 3-5 business days, for example.
Credit and Debit cards are not 100% guaranteed ability to be used for reverse transactions, which can also delay payments. They may allow for an immediate deposit into your betting account, but you may not be able to select them for the withdrawal process.
You either get a bank transfer or a paper check, and you're looking at an extended turnaround time to receive your winnings.
Skrill, Neteller, PayPal, Ecopayz; regardless of what payment provider you use, these types of accounts should allow for the fastest turnarounds. If you've ever used an e-wallet account, you've probably had an experience where you sent money, and it was taken out of your account and in the hands of the recipient in the blink of an eye. The same should hold true with online gaming. After the payment is approved, the e-wallet provider should be immediately transferring the funds to you.
Prepaid Vouchers or Cards
Prepaid methods are ideal for quick and easy deposits. You don't need a bank account, and everything is private and safe. It's like a cash transaction that you can make online. However, if you've used prepaid cards to fund your betting account, chances are you won't be using them to receive anything back. It's rare that any sportsbook or casino will issue a payment to a prepaid card. We have seen some allow for Paysafecard transactions in both directions, but it's not a sure thing. If you run into this situation, you're now looking at a similar scenario as with credit cards. You may be getting either a bank transfer or a paper check, depending on the casino cashier. So, fast payouts with prepaid vouchers or cards aren't a great option, and aren't often approved.
We realize that not everyone wants to delve into the relatively new world of cryptocurrency. It's somewhat confusing, and there is a process to getting a wallet set up. But, if you're a regular online gambler, it can certainly make life easier for you. Bitcoin transactions, unless there's an oddity going on with the block chains, should always allow for payments that take less than 20 minutes. All the cashier needs is your wallet address, and it's then a one-click process. Fast payout casinos that accept Bitcoin should be able to turn it around for you as quickly as e-wallets.
We hate to say it, but status matters. Nearly every online gambling provider has some loyalty or VIP program where all players' betting equates to points. The higher your point balance, the higher the status you have.
So, even if your favorite casino doesn't offer same day payouts as the standard, it may, anyway, for VIP players.
If you're going to devote a good amount of time to online wagering, you may want to stick with one website and earn a VIP status. You'll receive better bonuses, more gifts, and the benefits that can come with payouts alone, are worth it.
Larger Payouts - Different Rules
You could be a member of one of the fastest paying casinos around which, right now, would allow for two-hour payment turnarounds, but if you win a substantial amount of money, you may be waiting for quite awhile anyway.
Some may impose a limit like $5,000 a month, and others allow for $20,000 or even more.
Once you reach that limit, though, your payouts end up being divided out to coincide with the maximum for the month. So, if you are cashing out $30,000 from a sportsbook that only allows for $20,000 a month, you'll get $20,000 within the first month and then the remaining $10K the next month.
Here's where the VIP program can come into play again, though. VIP members at higher levels are given more leeway on payouts. Most players may only be allowed that $20,000, but if you're a top tier member, you may be able to claim the whole $30,000 right up front. It all depends on the service you use, but there are different rules for different players.
How To Get The Fastest Payouts
To get the speediest turnaround, you need to do a few things, and you need to identify a site that also meets your standards.
The Casino, Sportsbook, or Poker Room should provide:
No Waiting Period
Two to 24-hour approvals (meaning two to 24-hour approval from the time you make your request; not an approval after a waiting period)
Non-traditional banking methods like e-wallets, Bitcoin, and other banking intermediaries that allow for immediate transfers
Your End of the Deal:
- 1Make sure you have all required identity or banking verification in place first.
- 2Select a fast turnaround method when you make your deposit (Most operators require the same payment option be used for payouts as for deposits).
- 3Comply with all bonus requirements and clear them before you initiate any cash out request.
- 4If you haven't deposited any significant amount in your betting account, withdraw small amounts at a time.
- 5Don't plan on a payout over the weekend; week days allow for faster turnarounds.
- 6Try to rack up some VIP points and take advantage of any payment processing benefits offered.
- 7Get the full picture before you ever start betting - make sure you understand the entire payout procedure and ask about waiting periods and turnaround times if they're not posted in detail.
It is entirely possible these days to locate a website that will take you from payout request to money in hand within the same day. It does take a little homework as well as your understanding of how the process works but players in forums have numerous discussions and share tips about the fastest payouts they're receiving so you can benefit from their experience.
As long as you tick all of the boxes needed on your end and verify that a site that promotes same day payouts is true to its word, you can win some cash in the morning and spend it that afternoon.