Withdrawal Options at an Online Sportsbook

By Dave Schwab

If you are someone that loves to bet on sports, then you know that the only thing better than making the right call on a high unit play is getting paid for it. This is why it is so important to find an online sportsbook that offers a number of easy and convenient ways to withdrawal cash from your betting account.

One of the best starting points to finding the right online book to meet your specific needs when it comes to managing the financial aspects of your betting account is to click through to the banking center on their website. You should be able to easily find all the information you need to collect a payment along with any rules and regulations tied to making payment requests. This is the kind of information you will want to have upfront to avoid any misunderstandings further down the road.

Some  of the more standard rules in place at most of the top online sportsbook include a certain waiting period from the time you make your first initial deposit to requesting a withdrawal. Usually it will be at least seven days. Some books may require that you use the same method for a withdrawal that you use to make deposits. Also, keep in mind that additional documentation may be required as part of the verification process.

The most common way to make a withdrawal from your online betting account is to request a check either sent electronically or through the actual mail. This is probably the easiest way to get your money, but you always want to make sure that you know what the exact time frame is for receiving your check as well as any service charges or fees that will be tacked on for using this method of withdrawal. You can also request a Cashier’s Check to receive your winnings, but once again both time and costs should be taking into account.

If you are an active player that is constantly moving money in and out of your online betting accounts may want opt for a direct bank wire to receive your money. This can often times speed up the process depending on each book’s payment policies. Some books will offer one free payout a month when you use this method, but there could be a minimum dollar amount required. Once again it is important that you understand each book’s policies and procedures for a direct bank wire to make sure this method is a good fit for your overall online betting activity.

If you made an initial deposit with a credit card, then most books will simply transfer any withdrawal requests back onto that card. This is why it makes quite a bit of sense to use just one type of credit card for all your online sports betting activity. It will make things easier to keep track of, while also keeping everything separate from your other household finances.

MoneyGram and Western Union are two common examples of person-to-person methods of withdrawal. These are widely accepted across the entire online sports betting industry, but you still have to be wary about any additional fees involved.

One of the fastest growing ways of moving money into and out of your online betting account is through Bitcoin. This form of digital currency requires you to set up your own personal Bitcoin wallet that will come with your own address. Payment requests can be processed in as little as three business days. There are a number of fast and easy ways to turn your Bitcoins into cash. One of the best resources for more information on this withdrawal method can be found at spendbitcoins.com.

Comment about withdrawal options at an online sportsbook