Are Instant Casino Payouts Really Instant
The short answer is no. Read till the end for the long answer.
What’s the Truth About Instant Payout Casinos?
Online gamblers would perhaps unanimously agree that it is easier to deposit at casinos than withdraw winnings from them. You can fund your account within seconds using any supported banking method of your choice ranging from bank cards to net banking, e-wallets, and more.
However, when it comes to cashing out, the wait is almost always longer. It could be within a few minutes, a few hours, a day, several days, or even a week, but very rarely instant, the window of which in our opinion, should be a few seconds.
Instant withdrawal is a myth, which operators and payment processors feed players to not discourage them from playing. A false perception is created in the players’ minds, which makes them believe they can meet their winnings immediately after they request a withdrawal.
The truth is otherwise. Casino withdrawals follow a long-winded route, which might get even longer if norms aren’t followed and rules are broken. There are nearly no exceptions to this rule.
This article discusses why instant casino payouts cannot be called instant after all. We will also cover the banking methods that are conducive to fast payouts and talk about the ways withdrawals can be delayed as well as sped up in casinos. Let’s begin.
How ‘Instant’ are Instant Payouts in Online Casinos?
No matter how speedy a casino advertises its payout time to be, it is obligated by law to put in place a pending processing time of 24 to 48 hours before it processes withdrawal requests. Of all online operators, the fastest payout casinos would enable withdrawals within 24 hours. If you expect to cash out within seconds, you would be disappointed.
The processing time for withdrawals is a requirement mandated by a casino’s licensors and regulatory jurisdiction, which it must meet. During this period, the operator must verify the identity of a claimant to make sure the right person is paid and money laundering is prevented.
The process of verification is known as KYC (Know Your Customer), in which the claimant must provide evidence that they are who they claim to be. The operator must run further stringent checks to rule out foul play. The player’s account must not be compromised, the winnings must be legit, and the player must meet the specified wagering requirements before cashing out.
The uninitiated should keep in mind that the ‘instant’ in an instant withdrawal casino means winnings would be processed instantly after the verification is successful. Even then, you would receive your winnings only in your player account.
To move them to your bank account, you would have to submit a request to the payment processor, which you initially used for depositing money and wait some more. Only when the latter releases your funds can you meet your money in the truest sense.
To find the best fastpay casinos, rely on casino comparison sites that specialize in them. For instance, fastestpayoutcasinos.co.nz focuses on the fastest withdrawal casinos in New Zealand. They have the most authentic information at hand for Kiwi gamblers.
How to Detect False Claims of Fast Payout?
The best way to detect a casino’s false claims of fast payout is to read the small print. There would always be a processing time mentioned against every payment option it supports, even if it has been advertised as an instant payout method.
Which are the Speediest Withdrawal Methods in Online Casinos?
The speediest withdrawal methods in online casinos can be clubbed into just two groups:
E-wallets are the most ‘instant’ cashout options a fastpay casino can offer. The most popular e-wallets online punters include Skrill, Neteller, AstroPay, MuchBetter, and PaySafe. PayPal is another sought-after payment option for withdrawals, which is rare these days.
Cryptocurrencies are the next speediest withdrawal options at casinos. You can receive money anonymously, which is another benefit. Once the casino processes your withdrawal request, the wait time is just a few seconds.
What Causes Delays?
The following are the reasons for a delay in withdrawals:
- Duplicate player account
- Bonus abuse
- Unmet wagering requirements
- Unsuccessful KYC
- Incorrect banking details
- Incorrect amount for withdrawal
- Different methods used for deposit and withdrawal
- Detection of underage gambling
- VPN use
- Server downtime
How to Speed Up Withdrawals?
There is nothing you can do to change a casino’s processing time for withdrawals. However, to ensure there is no delay, you can ensure the following:
- Be of legal gambling age.
- Use a single player account.
- Meet wagering requirements.
- Use bonuses as specified.
- Complete KYC.
- Feed in the correct banking details.
- Cashout within withdrawal limits.
- Use the same for withdrawal as for deposit.
- Avoid using VPN.
Please keep in mind that you cannot do anything when the server is down. Under such circumstances, you can only get in touch with the operators, ask for assistance, and hope for a timely response. In case you smell something fishy, contact the regulatory commission and request a probe.
The Faster the Better?
Not necessarily. While a casino operator releasing your winnings at the earliest sounds incredible, it might not be worth it. A casino taking the time to verify a claimant and making sure it is paying to the right winner is a sign that it takes player protection seriously.
In fact, reputed licensers of the likes of the UKGC and MGA require casinos to follow a protocol to safeguard payer interests. Indeed, patience is a virtue, just as the adage goes, good things come to those who wait!