Choosing a casino with a fast payout
More and more people are choosing to opt for online casinos rather than going for the traditional choice of land-based, brick-and-mortar casinos. This is because online casinos offer their players a wider variety of games and slots, typically better odds than traditional casinos, as well as providing a level of convenience that cannot be matched by land-based casinos.
However, one area in which classical casinos do have the edge over online casinos is the payouts. Land-based casinos do not require any waiting time for players to withdraw their winnings. They win at slots, games, or table games, and cash out their winnings while leaving. On the other hand, online casinos require a little more patience from their players, since they need a bit of time to process and approve their requests for withdrawals. This has led to many gamblers being annoyed.
However, with the recent explosive growth of the online gambling industry, online casinos find themselves competing against rival casinos in what is an ever-evolving, ever-growing, and highly competitive market. Ideally, most online casinos will try and look for that extra thing that will set them apart from other casinos.
One of the ways casinos have tried to achieve this edge is by offering their players shorter payout times, with many casinos shifting their models to suit the growing need for instant withdrawals. Fast withdrawals are of importance for many significant reasons, one of which is that every player would like to receive their winnings instantly since no one wants to wait to receive or spend a decent chunk of money they’ve just won. Moreover, a casino that offers fast payouts to its players also gives a glimpse of how smoothly it runs its operations, which we’ll discuss shortly.
We’ve gone over some of the major reasons why we think fast payouts are important and why players should consider choosing casinos that offer fast withdrawals instead of those that take a few days to process withdrawals:
Importance of fast payouts
The first and foremost point is simple: the money you’ve earned and deposited in the casino account is your money. Nothing is more annoying than a situation in which a player who puts their hard-earned money into the casino account wins big but does not receive their winnings when they want them. It doesn’t do the player any good if the money is stuck in an account without any option of retrieving it, which is often the case.
There could be numerous other reasons why a player might not receive their payout, including withdrawal caps, which limit the amount of money they can take out per month or week.
Another more important factor is what the casino implies by offering fast withdrawals, including how well and tightly they run their operation. Firstly, it implies that the casino is completely dedicated to providing the highest customer service level and is willing to spend its profits and hire an appropriate number of employees who will direct their attention to providing the customers with what they want. Moreover, fast payouts also indicate that the company is financially stable and healthy.
For instance, if an online casino offers four or five different payout methods, including e-wallets, they will need to have large sums of money present in their account to be able to transfer the winnings to their customers quickly, no matter the payout type. If this wasn’t done, the process would be getting dragged and become prolonged. Additionally, in this case, when a casino has the capital to manage and hold money in multiple payout accounts for their customers, it suggests that they are not a scam. This also suggests that they have been in the business for a long time to reach this point and can be trusted. Besides, news travels fast on the internet and any company that rips people off or tries to rip people off packs up and leaves with the money rather quickly.
Another reason why fast withdrawals can be beneficial is that they deter people from making a wrong decision or a series of wrong decisions. Many slower processing online casinos run their business like that typical scene from a movie: a wealthy gambler wins big, and the casino pretends that his jet has technical issues and he won’t be able to fly yet, so they get him back on to the casino floor in hopes that he’ll start gambling again.
Slowly but surely, the gambler starts betting again, and before he knows it, he’s lost most of his winnings, and the casino has made back most of their losses. Online casinos work on the same model and try to make it a little difficult for players to retrieve their winnings, assuming that players will gamble more while they wait for their money and, in return, give back to the casino. However, this can be avoided through fast payouts and a bit of discipline.
When a player has the option to withdraw and move their money easily, the can put most of the money in their bank while keeping some in their casino account at a balance with which they are comfortable. Certain players will undoubtedly want to keep most of the money in their casino account, but at the very least, this option could save someone from a financial catastrophe.
Exploring the banking options
Although more and more casinos are trying to get the payment process sped up as much as possible, there are only so many casinos that can do so. This is because some of the responsibilities lie on the payment methods, and processing times can sometimes vary depending on which one a player chooses. For instance, if a player wants to withdraw money back to their credit card, it might take some time, not through any fault of the casino but rather because of the people handling the issue from the credit card side, who may not be so keen to speed everything up and may not feel the same urgency as the casino.
Some casinos may even have a slightly slower or faster payment time, which varies from site to site. Also important to note is the fact that some online casinos prefer certain methods, meaning that they specialize in a payment type, which may allow them to process a withdrawal faster than others. That being said, there are several extremely popular and reliable payment options that players can easily find at online casinos:
Credit Card/Debit Card
For players who are taking the route of using their credit or debit card to make online transactions to and from an online casino, it is essential to make sure that the site is legitimate. Credit and debit card transactions are fairly common with online casinos since it is a very straightforward approach and easily managed by most people. However, while the casino may make sure that the transfer you’ve requested is processed immediately, the bank or credit institution may not feel the same way. This is why, on average, a transfer through credit or debit cards may take between two to five days.
eChecks are a method of transacting money online. They’re usually offered by online payment companies such as PayPal. Like normal cheks, eChecks are perfectly legal and legitimate documents that request the transfer of money from one account to another. While setting up an eCheck can take a slightly longer time than usual methods, it is worth it. This is because once it gets set up, players can link their bank account directly with their gaming account, thus making the whole process a lot smoother. In addition to that, eChecks are generally considered to be a lot safer than using credit or debit cards, as well as being a bit faster. The average time for withdrawals via eCheck is one to three days.
E-Wallets are another common choice for most gamblers who play at online casinos. These are third-party services, like PayPal and ApplePay, which allows players to deposit or withdraw money, in addition to offering an extra buffer between the player’s bank and the specific casino or company with which the player is making the transaction. Once set up, they provide a seamless experience for moving money. The withdrawals are usually instant but may take up to 3 days, depending on the online casino and the status of the player’s E-Wallet account.
Bitcoin took the world by storm and quickly emerged as one of the most popular currency options for people to use online. Based on an algorithm called the blockchain, Bitcoin is a cryptocurrency that has a finite amount in circulation, thus giving it some long-term stability. But more than that, the aspect that makes Bitcoin so attractive to players who gamble online is its tendency to be anonymous and lightning-fast.
It has now gotten so big that there are online casinos that are essentially called ‘Bitcoin casinos‘ and specialize in Bitcoin transactions. Another exciting fact about Bitcoin is the steady growth in value that it has experienced over the last few years, so players’ winnings could continue to increase even after they’re done playing. Bitcoin casinos have almost no waiting times for transactions and are usually instantaneous once the request gets processed by the casino.
How to speed up the payout process
Like we mentioned earlier, different online casinos have different withdrawal speeds depending on their processes and payment methods involved. However, there are still some steps that players can take to make sure that they get the fastest turnaround time possible. These do not guarantee an instant withdrawal, but they can quicken the process and make life much easier.
Stick to the casino-specialized payment method
Some casinos push for certain payment options over others because they specialize in those payment options. So, for instance, the newer casinos that trade exclusively in Bitcoin may take weeks before they can process and approve an eCheck. Similarly, if you are a player that prefers to do their transactions in Bitcoins, choosing a Bitcoin casino will result in you getting your payouts at the earliest possibility. Knowing which method suits you most is the first step, but finding a casino that specializes in that method is more important since this will mean that their primary focus will be on that particular method of transaction.
Verify your account
Before confirming a player’s transaction, online casinos need to verify their identity to access a player’s banking information. This can include copies of various forms of identification, bills, and account numbers to confirm a player’s identity. This is a lengthy process, and for someone who has won their money and wants to withdraw their winnings, it can be very frustrating. This is why we suggest that players get their accounts verified and ready for the transaction as soon as they sign up. This allows all formalities and verifications to be dealt with in the earlier stages, thus allowing players a smoother experience when it comes to cashing out their winnings.
Confirm the site for fast payouts
The online gaming industry is an enormous industry that brings in lots of profits every year. Unfortunately, it also brings in scammers who’re looking for a quick score. It is essential to read reviews on the casino, check out their certifications, and make sure they are a legit gambling operation that can be trusted. Some companies get licensed and then stop complying with regulations, while others paste a picture of a certification that doesn’t belong to them. Either way, it is essential to know what the gambling community thinks about the casino and do thorough research on the establishment before you register.
Conclusion on the Fast Payout Casinos
The world of online casinos is vast, evolving, and scary. Players do not want to give away their financial information and hours of hard-earned money on a scam. However, if a player finds a reliable casino and knows that he/she is at the right place after having gone through all the formalities, knowing about fast withdrawals and the different methods will make life so much easier.