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Home Tech Which Is The Fastest Online Casino Payment Method?

Which Is The Fastest Online Casino Payment Method?

by Milcah Lukhanyu
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Online casinos are there to be enjoyed, and can provide hours of fun. But realistically, we don’t just play for entertainment purposes, we also want to win. Random number generators power casino games, and so a win can happen at any time. There’s nothing you can do to increase your chances of winning, but there is a way to ensure you get your cash faster. 

As the popularity of playing online continues to grow, the demand for fast payout casinos does too. Once upon a time, you could be waiting up to a week for any withdrawals to reach you, and that is just too long. Thankfully, payment processors and casinos alike have been working hard to cut this down, and now there are ways to get your cash within less than a day.

In this article, we look at these fast payment methods and which is the best option for UK casino players. Keep reading to find out everything you need to know about fast payouts in the world of online casinos.

Debit Cards

The processing time at the casino end needs to be considered when looking at the turnaround of debit card withdrawals. The truth is that the operator themselves can take up to 24 hours to even process your request, as it is all done manually. 

Once your withdrawal has been processed and approved, payments to debit cards can land as quickly as 48 hours. This of course depends on the day of the week or the time of the year. For example, if you’re withdrawing on the Saturday before Christmas, it’s going to take longer than a Monday in July. 

This means that in total, you can expect to wait around 3 days to get your cash on your debit card. This is an accumulation of the payments team processing time and the bank clearance. It’s faster than it used to be, but it’s not the fastest. 

E-Wallets

There are plenty of E-Wallets out there, and online casinos accept a wide range of them. For the purpose of this article, we’re looking at the 3 market-leaders, PayPal, Neteller and Skrill. You will find that these are available at any good online casino, and are very popular with players looking for fast turnaround.

Using any of the aforementioned E-Wallets will almost guarantee that your withdrawal with land within 24 hours. Sometimes it can be much quicker than this, and we have known instances where payments are made within as little as a few hours.

This is likely due to the fact that the processing is much easier and probably more automatic than that involved with debit cards and bank payments. These digital banking platforms are also renowned for their fast clearing times, so the combination of both results in almost instant returns for players. 

Being able to enjoy online slots, landing a win and having your money on the same day would have been unheard of just a few years ago. These wallets have made it a realistic expectation and are still working harder to streamline the process even more.

Open Banking

Open banking is a brand new payment process for online casinos, launching in December 2020. Although not available everywhere yet, it is rolling out across the biggest brands in the UK as we speak.

This new payment method involves a direct link between your bank and your preferred online casino. It works like an API, whereby when you make a deposit or withdrawal, the casino automatically instructs your bank to take action. You may be wondering whether this is safe or not, but you have nothing to worry about. In fact, using Open Banking might just be the safest payment method of all, as it is heavily regulated and involves all of the security you would expect from the major banks.

Because of the direct link to your bank, an online casino will be able to make deposits and withdrawals almost instantly. This makes an instant payout casino a potential reality in future, which is going to change the industry as we know it. For now, open banking is new and still being tried and tested, so it’s impossible to know just yet what the end-to-end process looks like from a user perspective. 

So, Which Is Fastest?

Right now, there’s no competition between E-Wallets and the rest of the online casino payment methods. E-Wallets are paying players faster than anybody else and have been doing so for some time.

That said, we do expect open banking to compete for the title of the fastest payout method in near future. Time will tell whether or not this will happen, but it’s hard to imagine anything being faster than a direct link between your bank and a casino. 

Playing online is becoming even more enjoyable because of this payment perk, and you no longer have to wait long at all to get your hands on your cash. It’s going to be an exciting few years for players as this technology continues to develop. 

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