When you’ve been fortunate enough to come away from the table with a nice win, the most pressing matter soon turns toward the speed at which you can receive your hard-earned winnings.
In the early days of online casino gaming, withdrawal speed was not a factor that many providers concerned themselves with. It was all about getting new customers on board and ensuring the site kept customers and their information safe. If you were withdrawing funds, you’d receive them promptly once the casino had gone through the necessary checks.
There are plenty of casinos that still adopt a hardline approach to withdrawal times, but there are others that make it their mission to have fast withdrawal times as their unique selling proposition (USP). It’s a multi-billion dollar market out there, and every edge counts, but how much do casino withdrawal times affect the games that casino players choose?
Ranking fast withdrawal casinos
As the market for slot gaming companies looking to innovate continues to thin, and the finite number of themes out there started providing diminishing returns for their creative departments, casinos leave no stone unturned in their bid to attract new customers.
Fast withdrawal casinos rose quickly to the top because, let’s face it, the idea or the concept that you can receive your winnings instantly is a pretty good marketing strategy.
The sound of this marketing idea is often better than how it looks on marketing pitches. Although talkSPORT Canada has highlighted just how many brands are now beating this drum, looking to claim theirs as the fastest withdrawal option out there, and experts have been rummaging around the highest-rated sites looking to find which ones actually have the fastest withdrawal options, there are often non-negotiables that are standard and industry-wide.
KYC (Know Your Customer) and verification
It doesn’t matter if a casino claims to pay out your withdrawal in 0.2 seconds; the chances are that if you haven’t verified your details and provided your photo ID, proof of address and whatever else they ask for, then any withdrawal will be delayed. This is almost always the case with large withdrawals or anything exceeding $100.
While this might sound like a total contradiction of what the site offers, KYC and verification are vital. Not only does this protocol shield casinos from a regulatory perspective and ensure that their platforms are as protected against money laundering and fraud as possible, but they also want to ensure that if they pay out thousands of dollars, the payment goes to the correct person.
Does it impact a player’s game of choice?
In short – no. The biggest casinos in the market have been able to refine the quality of their payment systems over the last decade. They have spent millions ensuring that the finest minds in fintech have made their withdrawal and deposit process as smooth as possible.
Once you have verified your information and received the thumbs-up from the casino, your withdrawal should be with you within a few hours. If you’re a slots gamer, the chances are that you will opt for a site with thousands of slots titles and an array of promotions that give you free spins. In the grand scheme of things, it doesn’t matter if your withdrawal takes one or three hours – not in this example, anyway.
You could roll this out and apply it right across the casino gaming market. It’s unlikely that the withdrawal speed will result in somebody shifting their entire gaming behavior to a brand-new site. Granted, there are exceptions, such as particularly high fees or withdrawals taking weeks to clear into your bank. However, such incidents are rare in the modern market.
Does it matter about your payment method?
Yes, traditional payment systems are more established in the casino gaming market. Newer payment systems, such as cryptocurrencies, are still making headway and establishing themselves in the market.
Cryptocurrencies have been one of the most significant talking points in world news in this decade so far, and with more casinos looking to integrate blockchain, Bitcoin and altcoins, they’re likely to play a more prominent role in the future of the casino and sports betting sectors.
While cryptocurrencies usually have a similar withdrawal time, they can face other issues that stem from congestion on the blockchain and gas fees, especially if you use Ethereum, which can generate exorbitant costs during periods of high usage.
This is more likely to impact a player’s choice of payment option rather than cause them to change their mind about the game they play. We are creatures of habit, and if we’re logging in to a casino we know well and are familiar with, there’s no sense in switching from poker to slot games purely because a withdrawal has taken too long.
Final thoughts
I’ve been on the receiving end of a casino taking weeks to pay – and while it was unbelievably frustrating and felt like an obvious delaying tactic, it didn’t cause me to question my game of choice. Unless you use a specific slots gaming site and continually have withdrawal challenges, I don’t see how the two correlate. It doesn’t really matter what payment method you use – the best way to pre-empt any delays is to verify your personal particulars.
As long as you do this and the casino confirms it, you shouldn’t face any serious delays. If you do, you can complain to the licensing body that regulates the casino.
