Why Fast Withdrawal Casinos Are Setting a New Standard for Digital Payout Speed

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These days, one of the key factors that online casino players consider before joining a new site is how quick that casino operator’s payment processing department is at processing withdrawals. 

They tend to avoid signing up to online casinos that are notoriously slow at cashing out players’ winnings, for obvious reasons, and will only consider joining online casinos that are ‘quick’ at processing winning withdrawals. 

With that said, let’s delve in and discover more about why fast withdrawal casinos are setting a new standard for digital payout speeds and why the average payment processing times for withdrawals (and deposits) are more important than ever for online casino players across the world. 

How long does it take for an online casino to process a withdrawal?

The exact length of time it takes for an online casino operator’s payment processing department to process a withdrawal can vary somewhat. It all depends on a combination of factors. 

However, most online casino players today have reported that many of today’s most popular online casinos with fastest payout times will typically strive to get your withdrawal processed within anywhere from just a few hours (in some cases, as little as five to 20 minutes) up to usually no longer than 24-48 hours (although can be up to three days at most). 

Back in the day, pre-2020, it could take much longer. Some players would have to wait a week or longer to receive their winnings after starting the withdrawal process, but fortunately, those days are long gone. 

The main factors that can determine how long an online casino takes to process your winning withdrawal are the following:

• Withdrawal amount – much larger withdrawals typically take much longer to process than smaller withdrawals of around $/€/£20 to $/€/£2,000 (or equivalent currency value). For example, if you win a life-changing multi-million-dollar progressive jackpot, the casino operator may wish to contact you to discuss the safest and cheapest way to ensure you get the maximum amount in as little time as possible. Additionally, you may also find that some online casinos state that huge windfalls like this might be paid out in slightly smaller instalments instead of one lump sum (this information will always be stated in the terms and conditions or general casino policies)
• Withdrawal method – some online payment providers, such as Visa, PayPal, Apple Pay, Mastercard, and many other trusted brands, are well-known for being much quicker at processing transactions than others, so always check the reviews to find out which payment method might be worth using to withdraw your winnings, especially if you don’t like waiting around
• The casino/operator – some online casino operators are more focused on ensuring their fully registered members receive their payouts as quickly as possible and will do everything to ensure they process withdrawals quicker than their competitors, so look for sites that are fast at cashing out your winnings for you if you prefer not to wait
• The time of day/day of the week – exactly when you initiate the withdrawal can also sometimes impact how long it takes to be processed. For example, if you start the withdrawal on, say, a Saturday evening around 8 pm, you might not receive your winnings back on your preferred credit or debit card or eWallet until the following Monday morning or lunchtime, meaning you would have to wait over a day and a half. However, if you were to start the withdrawal on, say, a Monday morning around 11 am, you may find that it is processed in less than two hours

The slowest online casino withdrawal option that some operators still have available in their virtual cashier/banking sections is the bank cheque/check. 

If you don’t want to wait too long for your winnings to arrive, avoid using this method and stick to using any of the other accepted withdrawal methods, such as bank transfers, mobile/digital/eWallets or, where possible, cryptocurrencies. 

What else can affect how long it takes for my withdrawal to be processed?

If you haven’t yet got your account verified, there may be a temporary restriction on your account, meaning they won’t even start processing the withdrawal for you until you complete the Know Your Customer (KYC) ID and age verification process. 

Completing the KYC process by sending in the relevant documents can significantly prevent delays on your withdrawal. 

The types of documents that are generally accepted are scanned colour copies of your driver’s license, national ID card or passport, and a recent copy (less than three months old) of a mortgage/bank statement, or a utility/mobile phone bill. 

Before sending in the documents, make sure that the details you provided to the casino during the sign-up process (such as your current name and address) are clearly visible and that they aren’t blurry, because this will delay the process even longer. 

Final thoughts

Before signing up to an online casino that claims to process withdrawals quicker than any other site, always take a minute or so to read the expert reviews first, just to determine how safe that site is. 

The reviews will also tell you whether that casino accepts players in your country, and whether your preferred online payment methods are accepted on that site. 

The expert reviews on today’s most reputable iGaming review sites will also give you a much better insight into the games, bonuses and promotions, player support, device compatibility, licensing, and so on.