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Comparing Sportsbook Payout Options

Comparing Sportsbook Payout OptionsThere is nothing more frustrating than waiting for your winnings from your sportsbook. It can be extremely challenging finding a sportsbook that pays out quickly and keeps your wait time to a minimum.

Plenty of options exist for withdrawals from your favorite sportsbook. These methods will vary from sportsbook to sportsbook and should be part of your initial decision to open a betting account.

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Just as the payout options vary from sportsbook to sportsbook, there are certain withdrawal methods that one player may prefer over another. Here’s a look at some of the advantages and disadvantages of the different payout options.

Sheer Speed - Sportsbook Payout Options

The absolute fastest method of withdrawing winnings from a sportsbook account is using cryptocurrency, specifically Bitcoin. Most sportsbooks worth anything will accept Bitcoin as a form of deposit and withdrawal. America’s Bookie has a great reputation using crypto.

Sportsbooks that payout in Bitcoin typically tout that payments are received within 24 to 48 hours. The transactions are also anonymous and practically untraceable, if that is something that appeals to a bettor.

Reliability is Very important

Bettors just want to be able to cash out their winnings and receive them in a timely fashion. They don’t want to wait several days, or even weeks, to receive their payment. 

For both fast and reliable payments, bettors can choose ACH, also known as e-check, or PayPal. Both typically allow for fast withdrawals and, more importantly, neither method incurs a fee.

There are some withdrawal methods that charge a processing fee. This is another consideration when choosing a sportsbook - deposit and withdrawal methods, processing times, and fees.

PayPal, unlike Neteller, does not charge any transfer fees and is comparable to cryptocurrency with its processing times. ACH e-checks are processed quickly as well, don’t incur fees, and are very reliable.

Other Payout Options Offered By Sportsbooks

There are other methods of withdrawing from a sportsbook account in addition to Bitcoin, e-checks, and PayPal or Neteller. Skrill is another online payment system that isn’t as widely available as PayPal and Neteller. 

The slowest of all payout methods is a check via mail. The processing time is slow and then the recipient is at the mercy of a delivery method. It can often take weeks to receive a payment via a regular check.

It’s a similar story for a bank wire. Again, recipients will wait while the transaction is prepared and then are at the mercy of their own bank. It can be weeks before one receives payment via bank wire.

In some cases, if your online sportsbook has a physical location you can withdraw while on the premises. In today’s modern age, this is rare as most bettors are using their smart devices to take care of their betting accounts online. 

There are numerous payout options that vary among sportsbooks. Before establishing an account with a sportsbook, it would be wise to do your research on the different types of withdrawal methods. 

It may even be wise to do a test run at sportsbooks that you are considering. Set up an account, make a deposit, and attempt a withdrawal using your favorite method. Remember, the “best” payout option is the one that suits you.

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