One of the very few advantages of the traditional brick & mortar casinos is that when you win playing the games, you can immediately enjoy the money you’ve won. Since the regular casinos rely purely on offline payouts, i.e. they simply hand you a bunch of cash, some people find this process more advantageous to the alternative at the online casinos.
But technology brings not only change, but improvements as well. Today there are plenty of online casinos which offer near instant withdrawals, diminishing this long-held advantage of their offline competitors. In this guide we will look at some casinos offering the fastest payouts, and show you how you can get an instant withdrawal of the money you won playing the casino games from the comfort of your own home.
Fastest Online Casino Payouts
Instant Withdrawal Casinos
#1. The Bovada Casino is still the king when it comes to instant payouts. One of the first online casinos to use Bitcoin, players at Bovada can now get instant cashout of their winnings by using this popular crypto-currency. No one does it faster or in a more consistent way than the folks at Bovada, so if you are looking for an online casino with the fastest withdrawal times, the instant payout of this one makes it the best choice.
This casino has been around for literally decades and remains one of the most trusted and reputable gambling websites around. Plenty of casino games, over 300 different slots with bet levels from a few cents to hundreds of dollars per spin, Bovada also offers one of the best sportsbooks on the Internet. Couple that with the fastest possible withdrawals and Bovada comes out as the definite all-around top choice for those players looking for speed of their cashout.
#2. SlotoCash comes in as a close second. It is certainly our favorite online casino, but unlike Bovada, which also offers multi-faceted betting services, SlotoCash remains primarily a casino-only website. Instant payouts of players’ winnings are available via ewallets and same-day withdrawal is offered via Bitcoin. What’s holding back SlotoCash from being ranked at the top of the list is that while their Bitcoin withdrawals are free, they only allow customers to request only one such withdrawal per week. The ewallet cashout is also free, and there is no limit on how many such cashouts customers can request. When you consider that the ewallet payout option is also the fastest, it is the better choice for those who value speed of payout over other factors.
#3. Rich Palms is the next in line on the fast paying online casino list. Here players can get same day withdrawal when they choose to cash out their winnings via Bitcoin. The rest of the methods are processed withing 72 hours. But what makes this casino stand out among the rest is that is still one of the few online casinos still offering payouts via credit cards, including American Express. It is certainly not one of the fastest way to cash out your money from the casino, with most payouts to your credit card clearing within 5-7 days, but it is an option not available at most online casinos. Sometimes speed isn’t the only deciding factors, even though Rich Palms does have the same-day withdrawal option for those looking to cash out quickly.
How casino fast payouts work
Online casinos tend to pay their winners quickly, but as mentioned earlier, the land-based casinos still hold the title for the fastest payout possible, since nothing is faster than cash. But you can find an online casino with instant payouts, as long as you are using the right payment method.
There is probably no need to explain why if you choose, for example, bank wire as you payout banking option you will not get your winnings the same day. The same would apply to methods such as credit or debit cards. The nature of the financial system simply doesn’t allow for such speedy monetary transactions. Abd don’t even get us started on snail-mail methods like courier checks. Not only do they need time to clear out at your bank, but simply delivering them to your door takes a lot of time.
Bitcoin: the fastest withdrawal option
However, some of the more popular electronic methods do indeed give you the option for an instant withdrawal or at the very least, a near-instant one. Bitcoin, and other cryptocurrencies that are accepted by the casino, are one way the player can cash out fast. Not only are you able to fund your casino account right away with it, but the best casinos will also let you cash out your winnings with a near instant speed.
Surely, confirmations by “miner” are required on the blockchain for both deposits and withdrawals, but a good online casino will forgo those when you make a deposit, in a way, it will trust you that the deposit is good and credit your account. On the withdrawal side, usually within minutes your deposit will be cleared, oftentimes as fast as it would take you to access and log in to your crypto wallet.
Digital wallets come in close second in the race for quick withdrawals
Bitcoin, despite its many benefits, still see plenty of holdout at the online casino. A lot of people are simply not comfortable using digital currency not just in their everyday life, but in a case-specific scenarios like cashing out at the casino. Here the ewallets are a great alternative to those who crave speed but don’t want to commit to the technology of the blockchain.
Digital wallets have been around for a very long time, PayPal is a prime example of a digital wallet which makes it very easy for people to buy things and pay for services online, all while putting a barrier between them and the merchant or service provider. The technology is well-developed and mature, easy to use and when it comes to quick withdrawals at the online casinos – it rivals the speed of Bitcoin.
Some online casinos will go as far as offering their fastest withdrawals when using an e-wallet rather than Bitcoin. The SlotoCash casino is a prime example, where a payout using, let’s say the Eco Payz digital wallet, will likely come faster than even Bitcoin.
Not just fast, but also fee-free
The benefits to using wither Bitcoin or e-wallets to request your withdrawal from the casino are not just limited to the blazing-fast speed hose banking options provide. They also come with the lack of any fees for using them.
It is not uncommon for the casinos to charge small fees depending on the type of cashout method you use. These fees stem not from the desire of the casino to make more money, they are not that large to make any significant difference in the profitability of the casino. Those fees are usually what the online casino passes to their customers from the financial institutions.
All credit cards and banks will charge the casinos and any other business a fee for using their networks. It is the same in the offline world as well. Every time you swipe your card at the store, the credit card company tags on a charge to the store based on a percentage of the transaction. The stores usually pass those fees to you hidden within the cost of the items you purchase there. The online casinos, on the other hand, simply state them directly for every withdrawal you make.
But when using the fast banking methods we talked about, those fees are non-existent as part of your transaction. Sure, the casino still ends up eating the cost of, let’s say, sending your Bitcoin cashout, but it is so small compared to a credit card, for example, that the online casino has no problem chalking it as the cost of doing business. The digital wallets will have a higher fee, but still nothing compared to what traditional financial institutions charge. So the benefit of using them is not confined to just the fast withdrawal you get to enjoy, but it also includes a fee-free experience for the player.
When your instant withdrawal is not so instant
There are many reasons why when you request a payout with an online casino which offers instant withdrawals, your cashout may not happen instantly. We must look at the more common cases of slow withdrawals, even though you have requested one with what is supposed to be a fast cash out.
Your first payout – withdrawal authorization and other forms
The most common occurrence of slow withdrawals is when you make your first one at the online casino. Even though the casinos make no effort of hiding this information, many of which post it in bold letters in their banking section, the first withdrawal you make at the online casino will be slower than typical. This is because players may be required to verify their identity (in some jurisdictions with legal gambling this is known as “Know Your Customer” or KYC for short) or you need to submit a credit card authorization form, if you’ve used any type of credit card to make a deposit at the casino.
These requirements can significantly slow the withdrawal process. On one hand, the player must fill in the forms and prepare any documents which may be needed, and on the other – the casino staff must go over them and verify the information. Luckily, if the authorization process or credit card approvals are needed, the process happens only once – when you make your first withdrawal. From there on, it’s smooth sailing.
Slow processing times can affect your cashout
Another main reason for an unusually slow withdrawal could be related to the processing times. At the best online casinos, if there is a lowdown in processing time it is often temporary and related to an even. But even the best are not immune to occasional slowdowns in processing times. Unusual volume of transactions could affect the speed of the banking options at any casino. This could happen, for example, around the time of the launch of a brand new slot. The casinos spend a lot of resources not only getting new video slots to market, but promoting them, as well. Oftentimes there will be bonuses, including no deposit bonus codes for the latest video slot. One can image that with such high interest from the players, especially if no deposit bonuses are involved, the online casino may become inundated with withdrawal requests from lucky winners. This could slow cashouts processing even at the best prepared casinos. Fortunately, such hiccups are temporary and short-lived, if you patronize a reputable online casino.