Sports Betting Payouts
If you want to wager at an online betting site, one of the first things that you should ask yourself is how do I get paid? This is a critical question because real money sites will offer a number of different methods for a player to withdrawal from their account. Essentially, a bettor is not paid out on every bet that they win - unless they request to be each time. But in order to withdraw, it's up to the player to declare that they would like to get paid out from their account - partially or completely.
The ways in which a player has the opportunity to withdraw from an account will be specific to the sports betting site that they have an account with. With that being said though, this is a page that will talk about those methods that you will see. Without being specific to one site, we can certainly clarify the common methods available. Some will have more, some will have less, and some will have the same.
When it comes to deposit options at legal sports betting websites, most every method will instantly fund your account and have you ready to make a real-money wager within minutes. For payouts, this process is a bit different. Certainly players would like their money to be in their account instantly, but this is not the reality. Having said that though, bettors have options that can have money deposited into an account within 12 hours - to a few weeks. There are parameters attached to every payout method - variables like time, fees, + withdrawal amounts governing the best choice for an individual.
Checks - While we said that sportsbooks could have different methods, the one seen at every one that we deal with is the option of a check. Certain sports betting websites might offer different types of checks - through the mail, a courier, or an Express Check. Checks are nice because many players deposit with a credit card. Rather than go through other means, a check is the easiest way to get your money sent to you without having to do extra things. This is certainly appealing. Checks can take anywhere from just a few days, to a few weeks to get. The payout amounts can range as well.
Wire Transfers - If you are looking for the fastest way to get your payouts, then the wire transfer is the way to go. Wire transfers like a MoneyGram or Western Union option will have a player's money in their account in as little as 12 hours. However, players might have to pay a fee for this. Some sports betting sites give a free withdrawal every 30 days - outside of that it will cost money. With a wire transfer, the cost isn't based on time; it's based on a sliding scale for the amount that is being paid out to the player. In other words, the higher the amount withdrawn, the higher the fee.
Bank Wires - A bank wire differs slightly from a wire transfer in terms of how it's processed. A wire transfer is processed individually, so it can go through quicker. A bank wire is not processed this way, and can therefore take up to 10 days to be received. The advantage of a bank wire lies within the high range that players can take money out. It can be upwards of $10,000 or more per transaction. Relatively speaking, fees are very little as well.
Debit Cards - In some cases, the chance to put money back on a card is offered. 5Dimes Sportsbook is the betting site that comes to mind where American players are legally accepted. They have a method to put a payout back on a Visa card that the player used to deposit. This is more seen as an international method, but not always.
Cashier's Check/Money Order - These are slightly different than a check in the mail, as money orders and cashier's checks can be received just like they can deposited at a betting site. The time it takes to receive is similar to that of a check as well.
E-Wallets - E-wallets can transfer money back and forth, and because the account number will already be on file with the sportsbook, it makes the transfer time very small - sometimes in as little as one hour from the withdrawal request.
For players looking for a good amount of payout options, consider BetOnline as your go-to legal sports betting website. BetOnline accepts players from all 50 states, and gives them some great chances to play and bet real money. All the most popular sports can be wagered here (NFL, College Football, NBA, MLB, NHL, etc.), but this is a fantastic option for anyone that wants to wager on international soccer matches and other global games.
There are several ways to withdraw at BetOnline, led by three different check options - through the mail, through a courier, and an ExpressCheck are all available. It depends on how fast you want to get your payout. Other methods include Western Union, MoneyGram, and a bank wire. This gives a player the maximum options to pick from. A free payout every 30 days is offered here as well for account holders.