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Sportsbooks with the Fastest Payouts
One of the disadvantages that online sportsbooks have over land-based sportsbooks is that payouts aren’t processed immediately. However, there are several that have strong reputations for fast withdrawals. These transactions will always be secure, safe, and available with reputable providers. This guide outlines how to access a sportsbook for its payouts and withdrawals.
How We Rate a Sportsbook By Its Payout Features
Many new bettors may not realize that each sportsbook has its own characteristics when it comes to paying out winnings. For this reason, some sportsbook withdrawals are much faster than others, and this usually comes down to several factors. These include the quality of the payment methods available and the general site terms.
We like to see sportsbook withdrawals that are processed immediately by the site. Each withdrawal method will then have its own additional processing times that will impact how long it takes for funds to reach player accounts. Another great option is the inclusion of early cash outs, which allow players to claim funds before a bet has settled.
Withdrawal Options
The best online sportsbooks for payouts tend to accept a number of different payment methods to ensure that all bettors can make easy and convenient transactions. Often, you’ll find a range of deposit methods available, including credit and debit cards, eWallets, mobile payments, bank transfers, prepaid cards, and eWallets.
There are advantages and disadvantages to each payment option. For instance, some methods may only be available for deposits. This is usually the case with mobile payments and prepaid cards. Other options may charge small fees on transactions, while others may have notoriously slow transaction times for betting payouts.
Fees are common for the average sports betting credit card, while bank transfers can take up to seven days to reach player accounts. In our experience, eWallets such as PayPal or the Play+ card offer the fastest payouts. These are usually processed instantly by sites and funds take as fast as one day to reach your bank account.
All fast payout betting sites will offer a range of these useful deposit and withdrawal options and favor instant processing times over several day waiting periods. If you check for these payment methods before signing up, you could save yourself a lot of hassle and time when it comes to the sportsbook withdrawal process.
Restrictions
Depending on which payment method you choose, there may be restrictions in place before you can request a payout. Even the best online sportsbook for withdrawals can have minimum transaction requirements for different methods. These can be as high as $15 and as low as no minimums at all.
When it comes to requesting bonus fund payouts, you’ll also need to meet wagering requirements before they can be converted into real funds. Some betting sites also have maximum withdrawal limits, though these tend to be in the tens of thousands so won’t impact most bettors.
Early Cash Outs
Many of the best online sportsbooks for payouts will offer an early cash out feature. Essentially, this mechanism allows bettors to receive a cash out on some of their profits before a game has concluded if they lose confidence in their original bet.
While you won’t be able to recoup the value of the full winnings, this can still be a sizable guaranteed payout. You may even be able to receive a full or partial refund of your bet if it looks as though your bet will incur a loss. This allows you to have greater control of your funds when the risks are high.
The exact nature of how each betting site offers this feature will change from each top sportsbook, but it’s now commonly available. You’ll find early cash out options at sites such as DraftKings, BetMGM, and FanDuel for both pre-match and live betting markets.
How to Calculate Payouts
The size of your payouts from a bet will depend on two major factors; the size of your stake and the odds payout rate. Your winnings will include a return of your stake plus your winning profits, so your return will greatly depend on how much you bet and how favorable the odds are.
How the odds are displayed can be changed on any betting site, but it’s likely that your chosen sportsbook will use the American odds system. In the case of underdogs, these are expressed as how much will be won if $100 is bet. For favorites, these are expressed as how much needs to be bet to win $100.
For example, in an NFL game between the Miami Dolphins and the Buffalo Bills, you may see moneyline odds expressed as:
- Amiami Dolphins +375
- Buffalo Bills -455
This indicates that the Dolphins are the underdog. Calculate the profits of underdog or positive odds bets with the formula:
- 375/100 x Stake
When backing the favorite, calculate the odds by ignoring the negative symbol and using the following formula to work out your profit:
- 100/455 x Stake
As you can see, all you need to do is swap the numerator and denominator depending on whether it's an underdog or favorite. Fortunately, you will be able to see the calculated earnings right away when you enter your stake for each market in your bet slip. These formulas can be useful for comparing odds.
Odds Comparisons
You can base your predicted payout on odds quality. This is why it's important to compare the odds offered at your chosen betting site with competitor sites. While it’s always great to favor sites that provide fast payouts, it’s also worth betting with operators that offer the largest profits.
FAQ
What is the best way to predict a sports betting payout?
We have provided two formulas in this guide to predict the profits you’ll earn from a sports bet. The two major factors that you need ton consider to predict your payout size is the quality of the odds and the size of your stake. These formulas are great for undertaking an odds comparison between rival sportsbooks.
Does the total payout usually include the wager amount?
Yes, the total payout that will be listed by a sportsbook will always include what you have staked. Therefore, all you need to do to calculate your true profit is withdraw your stake amount from the total payout.
What strategies can bettors use to improve a payout time?
There are no betting strategies available that will improve your payout time, but there are a few steps you can take to ensure your payouts are faster at an online betting site. For instance, you should favor the use of eWallets and the Play+ card for withdrawals to guarantee speedy transactions.
Conclusion
Now that you’ve reached the end to this guide to sportsbooks with the fastest payout options, you should be ready to make your selection. By choosing a site with the best sportsbook payouts and favoring faster withdrawal methods, you can expect to receive your funds in as quickly as 24 hours.
Meet the creators behind our content: a collaborative of seasoned professionals, each with their area of expertise. From analytical minds dissecting odds and legal counselors demystifying regulations to strategic players sharing their secrets, our team's diverse backgrounds enrich every piece of advice and insight we offer.
You can also improve the quality of your sports betting payout by claiming bonuses such as those featured on this page. These can come in the form of first bet offers, bonus funds, and odds boosts, and can dramatically improve your earnings. The early cash out feature will also speed up your bet payouts.