One of the most exciting times when playing the casino games is when it’s time to cash out your winnings. Until then, most may have wondered about the different depositing options, number and quality of games, bonuses they could get when joining the casino or when making a deposit, but now it’s all about one thing – how long will it take to get paid by the online casino. Here we will tackle exactly this question.
How long to get paid by the casino
The answer is that the speed will depend on the casino payment method you’ve chosen to make your withdrawal. Very few things would have an effect on the casino withdrawal time as much as how you want to get your winnings paid to you. Certainly, some online casinos are faster than others in general, and you can see the ranking of the fastest casinos for payout here, but in general, the deciding factor will be the withdrawal method you choose to employ.
In that sense, your withdrawal time could be as fast as instant or as slow as two or more weeks. So selecting the right payment method is not only important from convenience point of view, but will also affect the speed of the withdrawal itself. Below you can see the most popular casino payment methods and their average payout times.
Casino withdrawal times by method
The various options for withdrawing your winnings from the online casinos are listed below. For each one we will note the general timeframe of withdrawal, along with a few other things we deem important to know. Keep in mind that the payment methods are ranked from shortest to longest withdrawal times, starting with the fastest one.
Bitcoin – the shortest withdrawal time
There is no question that if you want to get your payout as fast as possible, Bitcoin is the best option. Withdrawal times for getting paid with Bitcoin are as short as instant. As a matter of fact, 9 out of 10 times you see a casino advertising an instant payout it is with Bitcoin only. Thus, this payout method has the shortest withdrawal time of them all.
Bitcoin also wins in terms of ease of withdrawal, not just based on the time-frame the withdrawals are processed. You also get plenty of special Bitcoin bonuses, something that should not be easily overlooked when deciding to dab into crypto payments. That said, the initial learning curve to this and other cryptocurrencies could be a bit steep for some. Since it’s a still relatively new form of wealth transfer and storage, there are plenty of people who remain uncomfortable enough to not even dip their toes in crypto. Luckily for these players, the next cashout method offers almost as short of a timeframe to get paid when you make a withdrawal as Bitcoin does, so not all is lost for those valuing speed the highest.
Virtual Wallets – a fast alternative to getting paid by the casinos
Virtual wallets, or ewallets, are another options for folks who wonder how long it would take to get paid by the casino and want a method that is as fast as possible. Some of the most popular examples of virtual wallets are Neteller, Skrill, EcoPayz, and even PayPal.
If Bitcoin is not your forte, a virtual wallet could give you close or nearly the same speed as crypto. As a matter of fact, we know of a few online casinos which process ewallet withdrawals faster than even Bitcoin.
The withdrawal time of payouts via ewallets will depend both on the casino and the actual ewallet, but generally the timeframe is anywhere from instant payout to about 24 hours. As you can tell, withdrawals to a virtual wallet are quite quick.
The main drawback of the ewallets is that they are not as widely available as Bitcoin. Where anyone in the world can use Bitcoin, and use it in the exact same way, this may not be the case with a virtual wallet. To add to this, certain online casinos will only work with one or two of the popular wallets, while other casinos may not work with any of them. This makes it a bit challenging, but if you know that the casino you patronize works with an ewallet you already use or is available to you, then they become a great way to reduce casino withdrawal times to minimum.
Bank Transfers – Slow and steady doesn’t win the race
We have now reached the withdrawal options measuring in days to complete. Among them, bank transfers, such as bank wires, ACH, etc. are the fastest, for what is worth. Most of the withdrawals processed via bank wire should be expected to arrive withing 5 to 7 business days. The bank wires do allow for the cashing out of large wins at the casino, but as you can see, the withdrawal time is rather slow as compared to some of the more modern methods of money transfer.
The bank wire withdrawals are also the most expensive option you can choose. Most online casinos will charge you upwards of $50 for each withdrawal made using a bank transfer, so keep that in mind when sorting through your payout options.
Check – they call it snail mail for a reason
Another withdrawal option available at nearly every online casino is to get paid by check, sent to you in the mail, which you can cash out at your bank or deposit into your bank account. If you want to know how your grandparents felt waiting for a letter, then go ahead and choose this option to cashout your winnings. And if you want to know how long to get paid by the casino when using check, just prepare yourself for at least two weeks. Even with the top online casinos, we have never seen a check arriving faster than a week, and those were record-setting speeds using private couriers, like DHL and Fedex, not your local post office.
But the speed of snail mail is not the only deciding factor of timeliness of such withdrawal. It will take some time for the casino banking department to cut the physical check, with some casinos opting to make check payments only a few times a week, in batches, rather than as they come. Then you will have to add the time it would take for the check to clear at your own bank, which is at least one business day, even at the best of banks. Therefore, if you care about speed at all, withdrawing via check should be the last thing you’d want to do.
Withdrawal Time – the ultimate ranking
#1 Bitcoin – as soon as instant, to no longer than 1 hour in most cases
#2 E-Wallets – instant with some casinos, others will get paid in one day on average
#3 Bank Wire – from 5 to 7 business days
#4 Check – on average two weeks, it could be longer
As you can see, how long would it take to get paid by the online casino will greatly vary depending on the cashout option you’ve chosen. Bitcoin (and other cryptocurrencies where available) will give you the shortest withdrawal time. E-wallets come in a close second, although availability is sketchy at most casinos. If you are not in a hurry and don’t mind waiting a few days, getting paid with bank wire is not a bad, albeit expensive, option. And finally, waiting for a check could be a real exercise in patience, but for some people it’s all there is available, so waiting a couple of weeks may not be all that bad after all.