To receive your winnings, you must prove your identity. Some bookmakers will ask you to do this as soon as you create an account, others will ask for it when you request your first withdrawal. Either way, the process is the same. You will need to send copies of your passport or driver's license, and many bookmakers will ask for a recent utility bill, bank statement or credit card statement to prove your address.
When you have decided that it is time to redeem your winnings, you will need to request a withdrawal. Online Betting sites will have a cashier (also called a wallet) where you can request the amount and banking method you want.
After you submit your request, Sports Book will review your account information to ensure that it can be processed. The amount of time this takes varies by bookie, but you'll usually hear back within 24-48 hours. Once your withdrawal is approved, the bookmaker will transfer the funds using the payment method chosen by you.
Fast withdrawals are always a great indication of a bookmaker's credibility and show how much they value their clients. If you won some money, you deserve to have it in your pocket as soon as possible. No matter what you want to use it for, getting your money in hand without delay is always going to enrich the betting experience.
The best thing you can do to expedite your withdrawal is to choose an accelerated payment method. Below are some of the key withdrawal methods that punters can use to capitalize on their winnings.
Extremely popular among punters, debit cards are offered by almost every sportsbook. Withdrawals from a debit card (usually Visa or MasterCard) go directly from the betting account to the bookmaker's bank account. Despite their popularity, debit cards are not known as the fastest withdrawal method as it usually takes a few days. However, the recent rise of VISA Fast Funds - backed by speculators such as
In addition to keeping punters safe when betting online, e-wallets are great for their fast withdrawal times. Big names include the godfathers of e-wallets, PayPal, as well as Neteller, Skrill, Trustly, EcoPayz and Paysafecard. These methods are offered by most major online bookmakers, and often make it possible to receive pay-outs on the same day (depending on how long the betting site takes to process the withdrawal request). It is also worth mentioning that many bookmakers allow users to make deposits via ApplePay or GooglePay, but withdrawals are usually done via bank transfer or debit card.
One of the more unconventional ways to deposit and withdraw from your betting account is via Cheque. This is the slowest way to claim your winnings, because after requesting a withdrawal, you must first wait to receive the check by mail, and then cash or deposit it at your bank. The time frame can be anywhere between 5 to 28 days, making it one of the more unpopular withdrawal methods.
Good To Know
Each bookmaker sets a maximum payout limit, indicating the amount you can withdraw in one go, weekly, monthly, etc. Familiarize yourself with these limits to avoid disappointment.
Sometimes (not always thought) you will be forced to withdraw using the same payment method that you deposited. For example, if you made a deposit using your Visa debit card, you would need to make a withdrawal using the same card.
Do not use a payment method registered in someone else's name to deposit funds into your account - this is not allowed. Chances are, when you go for a withdrawal the bookmaker will deny your request and forfeit your winnings.
Your withdrawal will be processed on working days only. If you request a withdrawal over the weekend or on a bank holiday, you will have to wait longer for your winnings.
Most bookmakers set wagering requirements before the bonus can be withdrawn. You must meet these conditions in order to withdraw winnings associated with the Bonus Offer.
Before approving the withdrawal, an operator will go through a KYC (Know Your Customer) check to verify your identity, selected payment method and address. There can be a number of reasons why your withdrawal is delayed, such as:
1. You have selected a different withdrawal method than your deposit method
2. You have deposited using any other payment method registered under
3. You tried to transfer money to someone else's account
4. we recommend contacting a customer support agent to resolve the issue.
It has also been suggested that some bookmakers take their time in the withdrawal process and try to persuade bookmakers to change their mind, cancel withdrawals and use the money to place bets. This is another reason why we suggest using bookies with quick payout times - it reduces the temptation to do so.
In the worst case, an operator may delay your withdrawal due to illegal practices. Unfortunately, these things do happen, with reputable gambling authorities stressing the importance of registering with licensed bookmakers. All the bookmakers we recommend are licensed
as it is largely considered the most trusted gambling license provider. To add an extra layer of transparency, you should also take a look at the licenses of:
1. Malta Gaming Authority
2. Isle of Man Gambling Supervision Commissioner
3. Gibraltar Regulatory Authority
In a situation where you believe a bookmaker is unfairly withholding your money, you should file a dispute with IBAS, a company that handles disputes between punters and licensed gambling operators.
Fastest Withdrawal Betting Sites FAQ:
Processing times depend on your preferred withdrawal method, however Bet365 offers the fastest debit card withdrawals while Betfair offers the fastest PayPal withdrawals.
To expedite withdrawals, choose a bookmaker and payment method with less processing time and ensure you have all the correct verification documents.
Visa Direct and e-wallets such as PayPal, Neteller and Skrill allow the fastest withdrawals once the withdrawal request is approved by the bookmaker.
This will depend on the bookmaker and the payment method. However, using the same method is more likely to result in faster clearance times, as it would require less investigation on the part of the operator.
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