The Best Payout Gambling Sites of 2020

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 Gambling Site Deposit Bonus Products Get Started
#1 Las Atlantis Logo
Las Atlantis
280% Up To $14,000
  • Casino
Visit Site  
#2 Super Slots Logo
Super Slots
300% Up To $6,000
  • Casino
Visit Site  
#3 MyBookie Logo
MyBookie
100% Up To $1,000
  • Sports
  • Casino
Visit Site  
#4 BetNow Logo
BetNow
100% Up To $1,000
  • Sports
  • Casino
Visit Site  
#5 Bovada Logo
Bovada
50% Up To $250
  • Sports
  • Casino
  • Poker
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:

  1. Player initiates the withdrawal
  2. Accounting 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
  3. Upon 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
  4. Additional time is added depending on the outside
    financial provider or, for checks, on the shipping method used
  • Approval Time: The amount of time it takes for the casino, sportsbook, or poker room to review the payout request and send it on to the payment processor.
  • Turnaround Time: The total amount of time from the withdrawal request to actual money in the customers hand.

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.

For Example

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.

Fees

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:

  1. You’re a brand new player
  2. The amount you’re cashing out is above 2,300
  3. Your 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.

What do we mean by that?

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.

What happens then?

You either get a bank transfer or a
paper check, and you’re looking at an extended turnaround time to receive your
winnings.

E-wallets

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.

Bitcoin

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.

VIP Programs

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.

One of the big benefits of these programs is that players who have graduated
up the tiers not only are allowed higher withdrawal amounts but, many times,
they receive expedited processing.

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.

Online operators all have a cap on what they’ll pay in any given week or month.

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:

  1. Make sure you have all required identity or banking verification in place first.
  2. Select a fast turnaround method when you make your deposit (Most operators require the same payment option be used for payouts as for deposits).
  3. Comply with all bonus requirements and clear them before you initiate any cash out request.
  4. If you haven’t deposited any significant amount in your betting account, withdraw small amounts at a time.
  5. Don’t plan on a payout over the weekend; week days allow for faster turnarounds.
  6. Try to rack up some VIP points and take advantage of any payment processing benefits offered.
  7. Get 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.

Verdict

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.