In general, you want to get your money into the casino (so you can play) and out again (so you can spend) as quickly as possible. We’re going to examine the various payment methods, paying particular attention to the best casinos for withdrawing your winnings quickly.
What to Look for When Choosing a Casino
Casino Processing Time
No matter which casino you choose to play with (and by all means, choose more than one!) you’ll have to contend with processing times after making a payment request. You see, once you hit the “withdraw balance” button on the website, the casino will take a certain amount of time to process the request and actually release the funds. What’s important is the length of the processing time.
For some casinos, it’s under 16 hours; for most, it’s 24-48 hours and for some, it’s even longer. Read our comprehensive casino reviews1 to find out exactly what the waiting time on your payments will be, before getting stuck in no-man’s-land without your money.
This is the big one, and it will be discussed more in the following section. However, you need to know that frequently, the payment method you use to deposit funds cannot be used for withdrawing them as profit further down the line. If you deposit using a method that isn’t available for withdrawal, your request will probably still be granted, but your winnings may be sent via cheque, in the post…
Naturally, this is the slowest possible method.
Variety of Payment Methods
There are loads of payment methods out there, but they can generally be grouped up into 4-5 categories. Let’s take a look at them from (generally speaking) best to worst.
Almost everyone who’s ever used the internet to pay for anything has heard of PayPal. They are a universal brand with an exceptional reputation, cutting-edge security and are known for making things easy. Not all casinos allow them as a payment provider, but the number is increasing.
The reason they’re so good? Not only can your PayPal balance be used to pay for virtually anything, but once the casino has processed your payment request, the money appears in your PayPal account instantly. No hanging around, no extra fees, delays or excuses. PayPal is going to be a household name in online casino within a few years, and its rivals will be hard-pressed to persuade you to look anywhere else!
These are the preferred banking method for most UK online casino players. They are simple (and free) to use and offer banking speeds equal to PayPal. The most popular brands are Skrill and Neteller, which are available at virtually every casino in the country. There is a generous amount of security (so your money will be safe) but none of the lethargic, poorly explained processing times you get with banks and financial institutions.
The only downside compared to PayPal is that, once you have your balance, you don’t have as many options for where to put it next!
Credit and Debit Cards
While all of our recommended sites accept credit and debit cards, you should be careful about choosing these over an e-wallet or PayPal for two reasons. Number one, some casinos do not allow payments to credit cards at the withdrawal stage – you’ll need to read either a review or the terms & conditions of the specific casino before deciding.
Secondly, it will take a lot longer to get your money back. On top of your 1-3 day hiatus during the casino’s processing period, you could have as many as five more days to wait while your bank churns through the data and the figures finally land in your account.
These are fairly popular for use specifically with online casinos since they are fast, fairly secure and very simple to use. There are quite a few different brands out there, but none have managed to capture the casino audience in the way that e-wallets have.
PaySafe Card is probably the most popular prepaid method in the UK today. Since you don’t have to store any of your personal details on record (kind of like pay-as-you-go SIM cards) they have good levels of security – the downside is that you can’t use PaySafe Card for withdrawals, instead you’ll need to rely on bank transfer.
Bank Transfer and Cheque
Naturally, most casinos allow you to use bank (or wire) transfer to fund and empty your account, but it’s far from the best method. It can take up to 3 days for a deposit to reach your account – can you imagine deciding to try and play slots on a Monday, only to realise you can’t start spinning until Thursday?
Same problem with deposits. Cheques are pretty much not worth talking about – they are absurdly slow and behind the times.
Tips to Get Faster Payouts
The most effective way to get “faster” payouts is simply to be organised when you first signup. Some pointers would be:
Prepare identity documents so that your first withdrawal is as quick as possible. If you can instantly hand over everything the casino needs to verify your identity, then you’ll have minimal delay. This tends to include a photo ID and proof of address.
Consider the payment amount, since larger sums of money (especially if you’re winning 4-5 figures) are usually subject to longer delays. Learn what the maximum normal withdrawal amount is and stick to that if speed is your priority.
Choosing a casino with a fast payout is essential to having the best gambling experience possible. Instantly available deposits are the norm now, and if the casino processing time for withdrawals is over a day, that feels like a poor show. If you’re smart and do your research, you won’t ever spend days on end waiting for your hard-earned winnings to show up.
Over time, slow payout casinos are going to realise why their numbers are declining, but why wait for that to happen? Find the casinos offering the fastest payout times and the smartest payment methods, and start making the most of your online slots straightaway!