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Best Sports Betting Payment Methods 2024: Guide to Sportsbooks Deposits & Withdrawals Methods

Last Updated on 09.05.2024
Fact checked by: Ethan Blackwood

These days, we all want everything as quickly as possible, such is the way of modern society. However, it used to be the case that we had to wait up to a full working week to get our betting winnings.

With some sports betting withdrawal options, that is still the case – but it no longer has to be that way. With e-wallets, you can receive your funds within 24 hours on many bookmaker websites. Meanwhile, cryptocurrencies can, in some cases, afford you the luxury of instant withdrawal.

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💫 The best bookmakers compared by payment method in 2024

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⏳ Betting sites withdrawal times – What to expect

Withdrawal times at online betting sites can still vary between payment methods and bookmaker platforms. When both parties are considered, there are two processes that contribute to the total time it can take you to receive your funds:

  • Approval time – This is the time that it takes the bookmaker to approve your withdrawal. Nowadays, most sports betting sites providers will approve your withdrawal request within 15 minutes to an hour. However, it can take up to 24 hours in some cases, especially on weekends. Sports betting bonuses and their approval times can also vary
  • Payment processing time – Once your withdrawal request has been approved, it is over to the payment provider. This is where the processing time can be anything from instant to seven or more business days.

🤩 Bookmaker deposit methods – The other side

Before we get to the business of withdrawal methods and processing times, which are far more varied, let’s first look at deposits, which are far more straightforward. You probably won’t be surprised to hear that it is, on the whole, far quicker and easier to give the bookies your money than to take it back out again, so betting sites withdrawal times tend to be slower.

As a result, you will find that you can make instant deposits on most betting sites and betting apps and with most payment methods. The only thing that can sometimes slow the process down are mitigating factors, such as busy blockchains when depositing in crypto.

However, even in such cases where things have been slowed down, the funds should still arrive in your betting account within 15 minutes.

We’ll get to the best betting sites for fast withdrawals a bit further down this page. First of all, let’s take a look at the average processing times for the most popular sports betting withdrawal methods.

🪃 The fast options:

Let’s start with the positives and take a look at the quickest methods:

  • Crypto – Although it might be the more alternative option to some, it is consistently the quickest. Almost all crypto betting sites offering crypto withdrawal will see the funds arrive in your wallet instantly or within 30 minutes.
  • E-wallets – Most betting sites with PayPal and other e-wallets now process your withdrawals within 24 hours. However, there are now many online bookmakers, such as 22Bet, that credit your funds instantly with all e-wallets.
  • Prepaid cards – Paysafecard and other cash alternatives mostly offer instant withdrawals as well as deposits. The downside of these options is that you can only spend the money on them in certain places. As a result, a secondary withdrawal from the prepaid card to your bank may be required.

🐢 The not-so-fast options

While these betting payment methods might not be the quickest, they do still have some perks, including security and convenience:

  • Credit/debit cards – In general, it should take between two and five business days to receive your funds from credit card betting sites. However, there are still many platforms where it can take up to seven business days.
  • Bank transfer – This is by far the slowest withdrawal method, as it can take between five and 10 business days. However, it is also the safest and sometimes the only available withdrawal option for larger fiat currency payouts.

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💰 Looking beyond the fastest betting sites withdrawal times

Now that we’ve covered the actual payment methods and their withdrawal times,, it’s time to take a look in more detail of how these actual betting sites let you make your withdrawals.

After all, there is much more to making withdrawal than just how long it takes. So here is a quick table showing you the other factors to consider when making a withdrawal from a betting site:

Payment type 🪙Fees 💲Limits 👾
CardsNone from betting siteUsually upwards of $20
Bank TransfersNone from betting siteUsually upwards of $20
EwalletsNone from betting siteUsually upwards of $10
CryptocurrenciesNone from betting site but network fees applyUsually none

💵 Betting site withdrawal fees

The good news is that the vast majority of betting sites won’t charge you any fees in terms of making a withdrawal. The closest that I have come to this is when I used some betting sites where I got one free withdrawal each month, and then had to make a minor payment for each withdrawal after that. If you see any betting site that charges you regular amounts for each withdrawal, you should probably leave them alone.

However, that’s not the full picture, because although the betting site isn’t adding any withdrawal fees doesn’t mean that there won’t be any charges elsewhere. You might find that your card provider or bank adds fees such as Visa betting sites or PayPal betting sites and is worth checking out, and this is especially true if there are any currency conversions.

Things get even more complicated when you make a betting site withdrawal via a cryptocurrency. This is because there will be a mining or ‘gas’ fee in order to verify each transaction onto the blockchain. It might not be much, but such costs can add up over the long-term.

  • Usually free to withdrawal from betting sites
  • Might be some fees from card providers and banks
  • Currency conversion fees may apply
  • Network fees for crypto withdrawals

🔝 Betting site withdrawal limits

It’s also worth noting that your choice of payment method will also determine how much you can withdraw at a time. It’s generally true that bank transfers and cards can be used to withdrawal larger amounts of money compared to ewallets, but this varies according to the betting site that you are using, Apple Pay betting sites will have different T&C’s to say Mastercard betting sites.

You might also find that there is a relatively high minimum withdrawal amount for bank transfers compared to things like ewallets. As for cryptocurrencies, the minimum withdrawal amount can vary considerably, so be sure to check out the brand’s payment policy first for this and any minimum deposit betting sites rules as well.

🏈 Sports betting withdrawal options conclusion – How to ensure a quick and easy process

At the end of the day, there are a few things that you can do to make your withdrawal process as quick and easy as possible. First of all, pick a sportsbook with a fast processing time and a good selection of quick and efficient payout options. Whether they offer a betting bonus or not is of secondary importance here. Secondly, make sure your wallet or payment account is ready, and verify your account as soon as you sign up. That way you won’t have any unwanted delays before your first withdrawal.

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❓ Betting sites withdrawal time FAQ

🫰 How long do betting withdrawals take?

Betting withdrawal times vary depending on a number of factors. Regarding the first step, some bookmakers have slower approval times than others. Secondly, the processing times can vary hugely between different payment methods. For example, crypto can be instant while bank transfers can take more than a week.

💸 What betting sites have instant withdrawal?

There are a number of good betting sites with instant or quick withdrawals, even among the lowest deposit betting sites. I’ve ensured that some of my recommendations feature on the banners across this page.

⏩ Which sportsbook has the fastest withdrawal?

The sportsbook with the fastest withdrawal time in May can be found in the banners on this page. By taking advantage of my reviews, you can also find out more about eligible payment methods, fees, and limits.

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