Instant Online Casino Withdrawals: Fact or Myth?

Whether you’re a newbie or an experienced online gambler, you must be familiar with various payment options you can use to make casino deposits and withdrawals. While deposits are processed immediately, withdrawing funds from your casino account may take more than a week.

Many online casinos today aim to attract players by promising instant withdrawals. This article will discuss whether instant online casino withdrawals are a fact or myth.

Here, you will also find the top 10 instant withdrawal casinos where you can collect your winnings almost immediately.

Is It Possible to Cash Out Casino Winnings Instantly?

The answer, in a nutshell, is no. However, it’s not that simple.

Gambling sites fail to mention an essential part of the overall process when promoting instant online casino withdrawals. Of course, we’re talking about the pending time.

All operators are obliged by law to enforce this step in their withdrawal process. Although online casinos don’t mention it, you can easily find the information about it in the fine print.

Online casino operators have a pending period before they process a payout. Typically, this period takes between 24 and 48 hours. Still, you’re likely to encounter online gambling sites boasting a pending period of up to 24 hours.

However, online casinos licensed and regulated by reputable regulatory bodies are obliged to run verification checks. It doesn’t matter if you’ve already verified your identity. The casinos must check it one more time to ensure everything is in excellent order.

They have to see that your account hasn’t been compromised and that the money you won is legit. These procedures are part of the player protection process enforced by the regulator’s KYC.

So, you have to understand the true meaning of “instant payment” for an online casino. Some banking options may allow your withdrawal to be processed instantly. Yet, it can happen after the pending period ends and the necessary checks have been conducted.

Keep in mind that even after this step is over, there’s a chance you won’t be able to access your money straight away.

The Fastest Withdrawal Options When Using Fiat Currencies

Players can use a wide range of methods at the best fast withdrawal casinos. Most of them are eWallets, also known as web wallets. Some of the most popular eWallets available are PayPal, Neteller, and Skrill. Here’s how they work.

After the necessary regulatory steps are taken, the money will show up within minutes in your eWallet. In that way, we can say these methods can be called instant. However, accessing the funds will depend on the player’s account.

For example, PayPal offers its customers a physical card, which can be used to withdraw their winnings at the nearest ATM. But, of course, that’s possible only after the winnings show up in their accounts.

The card functions as a standard debit card, meaning you can use it for everyday shopping at a retail store. Since most online stores accept PayPal, players may use their online casino winnings to shop online.

But if they wish to get the money to their bank account, they will need to transfer the funds from their PayPal account to the preferred financial institution. The entire process can last from one to three days.

There’s always the option to pay an additional fee to speed it up. In that case, your money will be transferred to your bank account much more quickly (from a couple of minutes to half an hour).

In some cases, eWallets can help players gain instant access to their winnings. After the pending processing period is completed, of course. However, if you’re looking for a genuinely instant withdrawal experience, there’s only one option you can use for online gambling. We’re talking about using a cryptocurrency, such as Bitcoin.

Crypto Withdrawal Timeframes

After Bitcoin emerged in 2009, it didn’t take long to see the rise of crypto online casinos. Since cryptocurrencies represent an anonymous way to send/receive funds, they have become the perfect choice for gambling.

Over the years, crypto has evolved into one of the fastest payout methods. One of the most important advantages of this digital currency is speed. There’s no need to wait long for crypto transfers to be completed, as they can be done in a matter of seconds. The same goes for turning crypto into cash.

But wait about the pending time? The good news is that some online crypto casinos don’t enforce them. If you’re asking why the answer is simple: they don’t have to! Most online casinos that accept cryptocurrencies have a license from the Caribbean nation of Curacao.

The island’s government doesn’t impose strict rules but, at the same time, doesn’t pay too much attention to protecting the players. So, a Curacao-licensed online casino that enforces a pending processing time does it hoping that gamblers will cancel their cashout requests and continue gambling their winnings.

When online casinos say they are offering instant withdrawals, it’s logical to assume their license holder doesn’t require a pending processing time. Therefore, they most likely only accept payments in cryptocurrency.

It doesn’t mean the operator is untrustworthy. Some may be, that’s a fact. In that case, we recommend getting more information about the casino’s reputation before trusting it with your funds.

Other Things to Pay Attention to

You need to pay attention to a couple of things regarding the fastest payouts at instant withdrawal casinos.

The first thing you need to check is whether a casino holds a valid license. It’s important to play at a reputable establishment. If the casino is rigged, you’ll hardly be able to benefit from a fast withdrawal.

Some fast withdrawal casinos charge cashout fees. In most cases, they are small and almost the same from one online casino to another. A certain amount of withdrawals can be free, with charges applied only after exceeding the amount.

Banking options determine the size of the withdrawal fees. For example, using eWallets typically comes with a fee of 2.5%. However, you can reduce these fees by limiting the number of withdrawals you make.

Most casinos have a minimum withdrawal limit, depending on the chosen payment method. In some cases, online casinos will impose a maximum amount you can withdraw per day, week, or month.

Online gamblers can find detailed information on many of these crucial issues in the casino’s terms and conditions.

Tips and Tricks for Fast Withdrawals at Online Casinos

You can do things to improve your experience at fast payout casinos.

1. Understand Wagering Requirements: When joining an online casino, you can benefit from various bonuses and promotions. They’re designed to draw new players but may come with certain withdrawal restrictions. If you study the terms and conditions, you’ll have no problems meeting the condition necessary for the fastest withdrawals.
2. Verify Your Identity: Of course, you’ll also have to verify your identity. Online casinos use this method to reduce the risk of fraud. Verifying your identity as soon as you join a casino can significantly improve the speed of your withdrawal. Unfortunately, many online gamblers hesitate to share their personal information, but that’s a crucial step in the online gambling world. After verifying your identity, online casinos can ensure the payment method is legal and valid. Then, if you’re willing to share your information, casinos will provide faster withdrawals. It’s a win-win situation for both you and the gambling venue.
3. Play at Reputable Casinos: Fraud is a significant concern, so you should stick with playing on big gambling sites. With a huge player base, these sites have all it takes to offer low withdrawal time.
4. Do Your Research: Use the internet to do your research before spending any money. For example, reading an online casino review lets you see what to expect when joining a gambling venue.
5. Use eWallets: As we already mentioned, the choice of a withdrawal option can make all the difference. For example, consider eWallet payments, which care much faster when compared to bank transfers. EWallets are one of the easiest (and fastest) ways to get your money. But even in this case, the withdrawal speed will depend on the online casino.

Closing Thoughts

Withdrawing your money faster seems like a great idea, but it’s not always worth it. Instead, always pick a reputable gambling venue to make the most out of your experience.

Curacao licensed casinos aren’t the safest option. On the other hand, online gambling sites regulated by the UKGC or Malta Gaming Authority adhere to strict regulations, offering the highest level of player protection.

All in all, instant payouts sound fantastic, but in the end, it all comes down to the old adage: the best things definitely come to those who wait!