One of the most demanded qualities in an online casino is fast payouts. Indeed, most gamblers list “slow payout time” as one of the biggest reasons online gambling puts them off. However, the industry has taken great strides in attempting to fix the long payment processing time issue. That is precisely how we’ve gotten to the point where we have fast-payout casinos.
What are Fast Payout Casinos?
As the name suggests, fast payout casinos are websites that do their best to deliver a payout at a reasonable time. Usually, casinos take up to two weeks to process payment. However, at instant withdrawal casinos, the time is significantly shorter.
To achieve their goal, instant withdrawal gambling sites research different payment options. The goal is to discover which payment option is the fastest. Indeed, most of the fastest payout online casino websites offer various deposit and withdrawal methods with different waiting times.
In this article, we would like to review the different payout methods. In doing so, we will discuss their pros and cons and point you in the right direction. We also want to find out which method is the fastest. Without further ado, let us get into the nitty-gritty.
Play+, a Cashless Payment System
Play+ has recently become the preferred payment option for most online casinos. It is a cashless payment system; you can deposit directly from your mobile device. The incredible part is that, through Play+, you will get your withdrawal in a matter of hours or less. That is a significant advantage of the system.
However, some things could be improved here. Namely, Play+ has yet to be universally accepted by online casinos. You might need help finding a reliable website that accepts Play+ deposits and withdrawals. However, if you do find one, you will be treated to quick payouts in no time.
Cryptocurrency
Another option for players looking for fast withdrawals is cryptocurrency. It is interesting to think about Bitcoin’s relationship with FIAT currency and crypto’s influence on finance in general. However, the crypto craze has also had an impact on online casinos. Plenty of gambling websites have embraced the popular cryptocurrencies. The most notable ones are the following:
- Bitcoin
- Ethereum
- Tether
- Litecoin
- Ripple
The best part about crypto-based transactions is that, apart from fast withdrawals, they also have meager fees. After all, crypto is a decentralized currency, so no intermediary needs to be paid.
However, there is a downside here. Crypto is incredibly volatile. And though many people misunderstand crypto volatility, there is no denying that it can come back to bite you. We recommend avoiding crypto-based gambling unless you have prior experience with the market.
E-Wallets
Possibly the most well-known and popular payment method at most online casinos, e-wallets are also relatively fast. Most e-wallet-based payments require a day or so to process. Some might be done within a few hours.
The most trustworthy and respectable online casinos have hopped on the e-wallet bandwagon and now accept payments made through Neteller or Skrill. The best part is that digital wallets are incredibly user-friendly. They require a matter of minutes to set up and understand. We recommend this as the best option for new and experienced online gamblers.
Despite the popularity of e-wallets, there are certainly disadvantages to consider. For example, some e-wallets charge hefty or downright unreasonable fees for withdrawing and converting currency. Also, most e-wallets demand that you maintain your account. Otherwise, they will charge negligence or dormancy fees.
Still, digital wallets are among the best when discussing fast-paying methods. We recommend you look into them to determine whether they are for you.
Credit Card
Finally, we come to the sound of old-fashioned credit cards. The oldest and most well-known payment option at online casinos, the credit card, remains quite popular. Though it is worth noting that younger generations have moved on from credit and towards debit cards, credit card remains widely used, not just at casinos but in everyday life.
It is no secret that credit card-based payments usually take quite a while to process. You might have to wait as long as a week or even more. However, to some people, the wait time is worth it. After all, no online casino does not take VISA or MasterCard. Most importantly, they are incredibly secure. For most, these benefits outweigh the cons.
However, there certainly are cons. Most credit cards expire after a year, which means you will have to continuously renew your card and change the information on the website. For some, this may be fine. Instead, they will need help with the low amounts credit cards can sustain. Credit card gamblers might need help dealing with amounts that exceed $1000, at least with prepaid credit cards.
Conclusion
While we did not mention all the available payment methods nowadays, we did discuss some of the most popular and fastest ways to get money from a casino. We hope this article has helped you better understand the iGaming industry and online gambling challenges.
