Online casinos are now more popular than ever, and besides the sheer volume of games with high or above-average RTP% payout rates you can play on these sites, and the numerous lucrative bonuses you can claim, one of the main reasons for this is how quickly it takes to receive your winnings these days.
Technology has dramatically evolved in recent years, meaning withdrawal times are quicker than ever. Less than five years ago, it would still take up to 48 hours or longer for the payment processing departments on today’s most trusted sites to process your withdrawals.
Today, many players report receiving their winnings in under an hour, which is a significant improvement and why these sites are so popular.
With that in mind, let’s dive in to discover roughly how long it takes from the moment you start the withdrawal to actually receiving your winnings on the industry’s safest and most secure online casino and sports betting sites that call themselves instant withdrawal casinos and betting sites.
How long does the average cashout time take at online casinos?
In 2024, it’s not uncommon for players to receive their winnings back on their preferred debit or credit card, eWallet, crypto wallet, mobile wallet or personal bank account in under 60 minutes.
However, the average cashout time at any online casino today can still vary somewhat depending on several key factors. It can take anywhere from as little as five to ten minutes up to two or three hours. At the very longest, it can take 24 to 48 hours for players to get their hands on their winnings.
What factors determine how long it takes me to receive my online casino winnings, even at the fastest payout casinos?
For most players, speed is of the utmost importance when it comes to withdrawing winnings at their chosen online casinos. Most players don’t like having to wait ages for their withdrawals to be processed, especially when deposits are processed instantly.
However, many factors can greatly impact how long it takes for you to receive your winnings. For example, even the fastest payouts at online casinos can take slightly longer than usual based on the following factors:
- Withdrawal method – some withdrawal methods are notoriously slower than others, so if you want to cash out your winnings rapidly, stick to using reliable methods that are known for processing quicker than average withdrawals, such as PayPal, Neteller, Skrill, Visa, American Express, Mastercard, Discover, Apple Pay, Google Pay, and Trustly, to name a few. In fact, some sites now accept cryptocurrencies, such as BTC, ETH, XRP, USDT, and LTC, which are said to be even quicker than traditional online payment processing companies
- Withdrawal amount – the amount of money you are trying to withdraw can also impact how long your withdrawal takes to be processed. For example, withdrawing anywhere from $10 to $20,000 is usually fairly rapid. However, if you win a multi-million-dollar progressive jackpot, then it might take slightly longer. For example, the operator of the casino you are trying to withdraw your $10M+ jackpot from might want to contact you to discuss the safest, quickest, and cheapest way for you to get your winnings
- Withdrawal time – the time of day and day of the week you initially start the withdrawal process can also affect how long it takes to be processed. For example, you may find that the withdrawal you started on a business day during business hours (e.g., Monday to Friday from 09:00 until 17:00) will be processed much quicker than it takes to receive your winnings when you start the withdrawal on the weekend in the early hours of the morning), so be prepared to wait slightly longer sometimes, or perhaps wait until Monday morning to start the withdrawal
- How busy the payment processing department is – some online casino payment processing departments may be handling a larger than average volume of withdrawals, and if you are at the back of the queue, it may take a little while longer than usual to receive your winnings
What else can affect how long it takes to receive my winnings?
On many of today’s most trusted online casinos, players must, at some point, prove that they are who they say they are, meaning they must complete the Know Your Customer (KYC) account verification process.
This requires sending in a valid scanned colour copy of your driver’s license or passport (or any other nationally accepted form of identification) and a recent copy (less than 12 weeks old) of a bank or mortgage statement, mobile phone or gas/electricity bill.
The KYC process prevents underage gambling, bonus misuse, unauthorised accounts being opened in your name (or anyone else’s name) and other fraudulent activities.
If you don’t complete the KYC process after they have requested these documents from you, you may find that temporary restrictions will be placed on your account, meaning you won’t be able to withdraw during that time.
As soon as you have sent in the required documents, it should take that casino’s account ID verification department anywhere from a few minutes up to usually no longer than 48 hours to check out documents and complete the ID verification process, meaning you will now be able to withdraw your winnings because all restrictions that were placed on your account will now be lifted.
Final thoughts
When signing up to an online casino that processes fast withdrawals, always ensure that it is controlled by a reputable company and that it’s fully licensed and regulated by at least one mid or top-tier licensing authority.
The other thing to remember is that even at ‘Instant Pay Casinos’ or ‘Fastest Withdrawal Casinos,’ the term ‘instant withdrawal’ very rarely means instant. It just means quicker than most other online casinos. In other words, the average cashout time on these sites can take anywhere from a few minutes up to usually no longer than two or three hours at most to be processed.
