In this report, we'll examine the payout speeds for American online sportsbooks, casinos and poker rooms, factoring in data obtained from players, casinos, and industry insiders. Each casino receives a letter grade, which are updated the average of twice a month and are explained below. (More about US gambling sites here.)
A = Excellent payout speeds
B = Above-average payout speeds
C = Average payout speeds
D = Below-average payout speeds
F = Unacceptable payout speeds
1. Bovada (Sports, Casino and Poker)
Does anyone remember those crazy Bodog ads with Calvin Ayre jetting around the world and hanging out with supermodels? I wish www.Bovada.lv had retained those when they started serving American players, but I digress.
Bovada offers two forms of cashout: rapid transfer and check by courier. With check, there's a 4 to 7-day waiting period from the time you make the request until the time the check is shipped. Rapid transfer is only available if you've used it in the past to make a deposit, but this lightning-fast option should deliver your money within 1 to 3 days (and sometimes as fast as 12 hours). There is a fee that accompanies this method, though, and it ranges from $20 for withdrawals of $100 to $199 to $60 for amounts of $600 to $750.
Bovada does NOT allow customers in the following states to register: Delaware, Maryland, Nevada, New York, and New Jersey.
Bovada's check processing times are the fastest that we know of and Rapid Transfer is another great deposit and withdrawal option. Combine this with the site's reliable track record and reputation, and you have a winning combination.
2. BetOnline (Sports, Casino and Poker)
This multi-purpose site includes a racebook, mobile racebook, in-play betting, and a selection of sports ranging from boxing and cricket to NFL football and golf. Licensed in Panama. All U.S. players are accepted at www.BetOnline.ag.
- Person to Person - If you make your request before 1pm EST, then your payout will be available within 12 to 36 hours (it averages around 24 hours). Only one withdrawal can be made in this fashion each week, and the transaction fee ranges from $34 to $185. The minimum withdrawal request is $50, with a $900 maximum.
- Bank Wire Transfer - The cashout time usually ranges from 6 to 10 days, and up to $15,000 per week can be withdrawn (with a minimum of $500). Each transaction carries a fee ranging from $45 to $75.
- Cheque - Checks can be received by standard mail, courier, or express mail. Standard mail takes up to 30 days and carries a $25 fee. Delivery by courier takes half as long, but it costs $35. Finally, there's the option of express delivery. The check arrives within a week, but the associated fee is $50. From the information I've received, checks have been arriving a few days ahead of schedule in most cases.
- Book to Book - These transfers are completed within 24 hours, but sometimes they get finished much sooner. The minimum request must be $500, while you can get up to $15,000 per week. This is currently one of the best options around.
No matter which method you choose, keep in mind that a 24-hour review period exists before the transaction process begins. The payout speed for BetOnline depends on which option you choose, but I like the fact that several are available to customers. Those wanting a check have the option of faster delivery for a higher service fee, which does provide a certain level of flexibility. The Book to Book option remains one of the best, especially for those who are impatient about getting their winnings.
5Dimes (Sports, Casino and Poker)
This site includes a full online casino and sportsbetting options on everything from baseball to water polo. Licensed in Puerto Rico, www.5Dimes.eu does not require a download in order to place a bet. While players from some U.S. states are prohibited from engaging in online poker at 5 Dimes, their sportsbook is open to all American customers.
Accepted Withdrawal Methods: Debit card, prepaid gift card, ACH, Bitcoin, American Express, courier check, Click2Pay, InstaDebit, MoneyGram, JCB, Player2Player, NETeller, Sportsbook Transfer, Skrill.
September 2014 Performance: MoneyGram is reliable as always, and it's the best option for players who want to get paid in a hurry. If you're not in a rush to get your winnings, then there's always the option of waiting more than a week for a personal check to arrive.
While all the waiting times are acceptable, I did come across a well-documented case of 5Dimes shafting a player over the results of an MMA fight. When they contacted customer service with proof of the oversight, the first rep was less than helpful. Their boss, however, was even worse, and they eventually cancelled the customer's account instead of making things right.
Letter Grade: B (while the payout times at 5Dimes are fine, I graded down for their customer service bungle. Hopefully they can improve on this grade next month, as I've generally found them to be a satisfactory company to deal with).
Club World (Casino)
During business days (doesn't include the weekend), www.ClubWorldCasinos.com offers the following payout speeds on their withdrawals: 5 to 7 days for cash transfers, 6 to 8 days for bank wires, and 30 days for courier delivery of checks. Cash transfers include a $40 fee, and you must withdraw a minimum of $350. Bank wires don't include a fee, but you have to withdraw at least $300. For checks, any request under $750 incurs a $25 processing fee.
While Club World primarily targets American players for their customer base, they also have a growing clientele in other parts of the world. Such growth is always a good sign, especially when the company also manages to hit their projected cashout times on a consistent basis.
Carbon (Sports, Casino and Poker)
The Carbon brand is best-known for its poker room (Carbon Poker), however, it offers decent sportsbook and casino options to US players as well. Here are the payout times that www.carbonpoker.ag offers right now:
- Check or Gift Card - Processing time takes anywhere from 3 to 5 weeks, and a 3% fee is charged for all requests. Checks are sent via courier service, and the withdrawal limits range from $50 to $2,500.
- Wire Transfer - A 3% fee is charged for each withdrawal, and the processing time takes 2 to 4 weeks. This time is right on the button, at least according to my sources. The maximum withdrawal is $5,000, while the minimum is $500.
- Debit Card - The minimum request is $50, while the maximum is $7,500. Your request will be processed within 3 to 5 days, although reports show that it often takes a day or two longer. A 3% fee is charged for all withdrawals of this kind.
While Carbon Poker is reliable, they aren't known for their blazing speed when it comes to cashouts. Their cashout time seems to be holding steady, however, so be sure to check back next month for more details.
Letter Grade: C
While the overall cashout speeds for American poker rooms seems to be up in October, it's still below what many customers would wish for. That's simply the nature of the industry, however. Between the desire to drag their feet and the massive amount of paperwork associated with the business, it could be far worse. Check back next month to see if it is.