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If you have ever tried to withdraw cash from an online gambling site, you know how annoying it can be to wait too long for your withdrawal to be processed. Therefore, it’s super important for new online gambling site to be as quick as possible when it comes to cashing out players’ winnings.
Not only promising but also coming good on having super-fast withdrawal times is a massive USP (unique selling point) that can help an operator stand out from its competitors.
These are the kinds of sites I look out for these days because I can’t stand waiting forever for withdrawals, and I know I’m not alone.
I tend to avoid signing up to sites where I can play online fruit machines, blackjack, craps, and poker, which are notorious for being slow at processing withdrawals or using online payment methods that take longer to process my payment compared to most other methods.
How long does it take for iGaming operators to process withdrawals?
I’m lucky enough to have access to hundreds of UK sites licensed by the United Kingdom Gambling Commission. They are known for having some of the quickest average cashout times in the world.
Most of the time I have started my withdrawal, I have usually received my winnings back onto my preferred online payment method within a few hours at most. At some sites, it has literally been processed within 20 minutes.
However, that wasn’t always the case. Five or more years ago, you were lucky if your withdrawal was processed within a few hours. It would usually be around 24 hours, but on average, 24 to 48 hours.
As mentioned, the average time it takes for me to receive my withdrawal today is less than a couple of hours, but it depends on a number of things, so try not to stress too much if I haven’t received it within a couple of hours.
The main things that can affect how long it takes for you to receive your winnings can depend on the following:
- How busy your operator’s accounts/banking department is, and how many withdrawals it’s trying to process at once
- The type of withdrawal method you use (some are naturally much quicker than others)
- The time of day and day of the week you are trying to withdraw (for example, it might take longer for a Sunday evening withdrawal to be processed compared to a withdrawal that you started at, say, 10 am on a Monday morning, which is likely to be processed much quicker)
- The amount of money you are trying to withdraw. If you are only trying to withdraw relatively small amounts, say $/€/£10.00 to $/€/£1,000, it won’t take long. However, if you win a progressive jackpot worth upwards of $/€/£1,000,000.00, the operator might want to contact you to discuss the cheapest, safest, and most convenient way for you to receive your winnings before processing your withdrawal
Which new sites are known for processing fast cashouts?
Almost all new online casinos at your disposal on the globally renowned NewCasinos.com iGaming review site are known for processing withdrawals in above-average time. They must if they want to stay ahead of their rivals.
What are the fastest withdrawal methods in 2024?
There are several reliable online payment methods to choose from, but each site is different in terms of which deposit and withdrawal methods it accepts in its cashier/banking section.
Before signing up anywhere new, I always head to the payment section just to see if my preferred payment methods are accepted, and I always try to use the same method to withdraw that I used to deposit. For example, some methods, like Paysafecard, can only be used for deposits.
Paysafecard is a perfectly reliable payment method, but I don’t like to have to use two different methods. The fastest withdrawal methods I have found also process cashouts in around the same timeframe of one to two hours and include the following trusted brands:
- Apple Pay (mobile digital wallet)
- PayPal (eWallet
- Skrill (eWallet)
- Visa (debit card)
- Trustly (bank transfer)
- Neteller (eWallet)
Almost every site in the world accepts Visa and Mastercard, so it’s handy to have one of these debit cards ready to use, and most of the sites I have joined accept one or more of my other favourite withdrawal methods I just mentioned.
The important thing to remember is that the gambling site will never charge you for your withdrawals. If a fee is applied to your transaction, it will be the payment provider, NOT the operator of your chosen site.
When choosing a payment method to use at sites like this so you can top up your account and cash out your winnings, try to use well-known payment methods and find sites known for processing quick withdrawals to ensure you get your money as fast as possible.
Being impatient won’t get you anywhere, so be prepared to wait to get your hands on your winnings, and don’t keep contacting the site’s customer support until you really need to.