Do you consider the best ways to cash out your casino winnings. For us, the speed of transactions is a highest-end factor. Who wants to wait several long days to receive cash, so it’s time to learn about brands with the fastest payout time and how to choose them.
Note that different types of payment methods have contrasting terms that affect customer experience in a significant way.
Which Factors Influencing Withdrawal Speed?
Projecting the duration of the transfer from a casino site can be tricky, as numerous factors come into play. To explain why some transfers take much longer than seemingly similar withdrawal requests, it’s necessary to look under the surface and understand how the financial side of an online casino operation works.
● Payment Method
The choice of the payment method largely determines the speed of withdrawal, since some banking methods are considerably faster than others. In particular, eWallet online services tend to be very expedient, while wire transfers are the most cumbersome method.
● Casino Policies
Some casinos have policies in place designed to improve security and prevent money laundering, but their unintended side effect may be slower money transfers. If the casino site has a complex approval process, that could add a few days to the waiting period.
● Verification Process
Players who are withdrawing money from a specific casino for the first time might have to verify their identity before they are allowed to proceed. This step takes a day or two, but must only be completed once, so any further requests are processed significantly faster.
● Time of Request
Timing of your request could also affect how fast the money arrives. If a casino site is processing all requests at a certain hour (i.e. 1 PM) every day, any requests that come in later might be delayed for a full day. Obviously, you also want to avoid weekends and bank holidays.
● Transaction Volume
Since large transactions may require additional approvals, they are typically slower to process. This is why it makes more sense to draw smaller amounts and skip through the withdrawal process than to wait for one big transfer that could take forever to execute.
● Geographical Restrictions
Some countries have weak banking systems so casino sites perform additional checks when sending money to them. This is the reason why players from certain geographic locations have to suffer through sluggish withdrawals while others get their money faster.
● Currency Conversion
If you want to make a withdrawal in a different currency than the one you currently own on the site, you will have to convert the funds first. While this step usually only takes a few minutes, in rare cases it could cause longer delays.
Comparison of Withdrawal Methods Speed: By Type
Modern global economy supports multiple methods for transferring money and casino sites show quite a lot of versatility in this regard. Players can choose between up to two dozen methods at some websites, including both traditional banking and digital means for moving cash across borders. Let’s say a few words about each type.
E-Wallets
The advantages of e-wallets include a high level of security, low costs, and unmatched speed of transactions. All you need to share with the sender is your email address, so there is less chance of sensitive data being stolen. On the other hand, funds held in an eWallet can be spent online or redirected to your personal bank account. Since eWallets are widely available to UK, they are used quite often on casino sites.
Bank Transfers
Direct wire transfers allow you to move funds without any intermediaries, but they can be painstakingly slow. It can take nearly a week to transfer money with this method, but the advantage is that it appears at your bank account and there is no need for further actions. Most casino websites still allow bank transfers, but they are increasingly going out of favour.
Cryptocurrency
Due to the high level of privacy combined with fast transactions, cryptocurrencies like Bitcoin are becoming very popular with online gamblers. They are nearly as fast as eWallets and very secure, but unfortunately only a handful of British casino sites support crypto withdrawals at this time. Another issue is that conversions are often necessary to make this method work.
Debit/Credit Cards
Most of us have bank cards in our wallets, so using them for withdrawals from casino sites is very convenient. However, this method is relatively slow and might not be as secure as some of the alternatives. There are some fast withdrawal casinos that accept Visa cards and operate in UK, but in general you can expect a waiting period of several days if you decide to use this channel.
| Withdrawal Method | Processing Time | Fees | Security | Availability in UK |
| e-Wallets | Instant to 24 hours | Varies | High | Widely Available |
| Bank Transfers | 1-5 business days | Varies | Moderate | Common |
| Cryptocurrency | Instant to 24 hours | Varies | High | Limited |
| Debit/Credit Cards | 2-5 business days | Varies | Moderate | Common |
Based on all of the above, it’s clear that e-wallets offer the best balance between different priorities, which explains their current popularity. Methods associated with banks are much slower, while crypto-based withdrawals are not yet widespread enough to fully replace e-Wallets as the predominant method for cashing out on casino sites.
Comparison of e-Wallets Withdrawal Speed
The competition between different e-wallets is intense, and the level of service they offer is constantly improving. Here is a comparison of processing times and other key parameters for some of the most popular financial solutions of this type.
| e-Wallets | Processing Time | Fees | Security | Availability in UK |
| Skrill | Instant to 24 hours | Varies | High | Widely Available |
| Neteller | Instant to 24 hours | Varies | High | Widely Available |
| ecoPayz | Instant to 24 hours | Varies | High | Widely Available |
| MuchBetter | Instant to 24 hours | Varies | High | Limited Available |
The popularity of various e-wallets differs across the globe. While most worldwide players prefer PayPal casinos with instant withdrawal, UK players will benefit locally from other payments (i.e. Skrill).
Since PayPal is restricted for any gambling-ralted transactions, services like Much Better are wider on the page, so you can use them. Still, always check terms & conditions of each e-wallet before choosing your default fast withdrawal solution.
What Payment Has the Fastest Withdrawal Realistically?
It’s probably best to choose one of the most popular e-wallets like Neteller and Skrill for casino withdrawals in the United Kingdom.
You can reasonably expect to receive your money within 24 hours with any of them, but it’s best to test them with small amounts and see how it all works in practice. If you are a crypto enthusiast and play at crypto-friendly websites, you might want to use your Bitcoin or Ethereum wallet instead, as this way you can increase security without any real loss in terms of transaction speed. However, this could be too complicated for the average player, especially since the values of cryptocurrencies tend to fluctuate wildly on a daily basis.
Disclaimer:
CBD:
Qrius does not provide medical advice.
The Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) outlaws the recreational use of cannabis products in India. CBD oil, manufactured under a license issued by the Drugs and Cosmetics Act, 1940, can be legally used in India for medicinal purposes only with a prescription, subject to specific conditions. Kindly refer to the legalities here.
The information on this website is for informational purposes only and is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or another qualified health provider with any questions regarding a medical condition or treatment. Never disregard professional medical advice or delay seeking it because of something you have read on this website.
Gambling:
As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman, and Sikkim, prohibit gambling. Land-based casinos are legalized in Goa and Daman under the Goa, Daman and Diu Public Gambling Act 1976. In Sikkim, land-based casinos, online gambling, and e-gaming (games of chance) are legalized under the Sikkim Online Gaming (Regulation) Rules 2009. Only some Indian states have legalized online/regular lotteries, subject to state laws. Refer to the legalities here. Horse racing and betting on horse racing, including online betting, is permitted only in licensed premises in select states. Refer to the 1996 Supreme Court judgment for more information.
This article does not endorse or express the views of Qrius and/or its staff.
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