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The best bets and resources to make you more profitable
The rise of legal sports betting in the United States has led to a modern-day gold rush for casino and sportsbook operators, as companies have rushed to get state licenses and set up shop as fast as possible.
While states vary, most now offer online options which have left bettors looking for answers on how sportsbooks payouts work, which have the fastest payouts, and what are payment options for deposits and withdrawals?
Let’s take a deeper look at each of those questions.
Online sportsbooks payouts work similarly to how they do in-person, with the obvious difference being the money is digital vs. physical.
Once a game or event is settled by the bookmaker based on the house rules, the money is credited to your online account at which time it’s immediately available for payout to your withdrawal method of choice.
As sportsbooks across the country compete for customer accounts, a plethora of both deposit and withdrawal options have popped up. For deposits, a minimum of $10 is the standard amount, the most common options being the following: PayPal (my personal choice for both deposits, and withdrawals), Bank Transfer, Debit Card, Neteller, or a sportsbook prepaid card which you can buy at a physical location with cash.
As far as withdrawals, the options are similar with the most popular being PayPal, ACH (direct deposit to your bank account), check by Mail, Neteller, Skrill, Debit Card, Bank Transfer, and back onto your sportsbook prepaid card.
In my experience, the fastest payouts sportsbooks offer are via PayPal, which can come in as quick as 30 minutes or as long as one business day. Below is a quick snapshot of what you can expect as far as the processing time for each of the withdrawal methods.
When it comes to the fastest payout sportsbook, as well as the fastest paying daily fantasy sports websites for that matter, for me, everything pales in comparison to the market leaders at DraftKings and FanDuel.
Both offer a PayPal option that gets the money into your account within an hour, you can then transfer that money into your bank account all within the same 24-hour period.
In my experience, both offer some of the best support in the industry with 24-hour real-time access to their support agents via chat or over the phone.
When it comes to figuring out how sportsbooks payouts work and nailing the process, both of these behemoths are at the top of the pile.
It also helps that both DraftKings and FanDuel have the biggest market share of any national operator, so when traveling domestically, there’s a good chance one or both mobile apps will be available within that state.