U.S. Sports Betting Withdrawals + Payouts

In all but two of the 50 States—Delaware and Nevada—betting on sporting events is more or less prohibited by the law. As such, it comes as no great surprise that many gaming enthusiasts turn to online sportsbooks, licensed overseas and based offshores. These sportsbooks are not only totally safe and legal, but they are also convenient—though they do raise some important questions. One of the most urgent ones: What are the best ways for players to deposit and withdraw money from these sportsbooks?

This page will seek to answer that question. Meant as an educational resource, this page will highlight some of the pros and cons of different sportsbook payout and withdrawal methods. Use this information to assess not only which payment forms you use, but also which sportsbooks you choose to visit.

How long does it take to get money out of online sportsbooks?

One of the primary concerns for those wagering through online sportsbooks accepting U.S. players is the question of how long it takes to receive payments. When you win money, you want to get it as expediently as possible, but some withdrawal methods are significantly quicker than others.

The best method, for those who just want to get their money quickly, is to get a wire transfer. These usually just take a few hours, meaning you can get your payment on the same day you request it. With other methods, you’ll likely be waiting a few days, if not a few weeks.

USA Friendly Sportsbook Withdrawal Methods

Checks/Cashier’s Checks - There are many who like to receive checks or cashier’s checks, and indeed, there are some significant benefits here. Fees are low, withdrawal limits are high, and this withdrawal method is easily available to U.S. gamers. The only downside is the slowness; you will likely have to wait weeks for the check to be processed and sent.

Cash Wire Transfers - Meanwhile, cash wire transfers are quite advantageous, at least as far as speed goes. Again, with any wire transfer, you are likely going to get your money within the span of hours, not days. For those in a hurry to receive payments, this is the best bet.

Bank Wire Transfers - Bank wires, meanwhile, will usually take a little while longer to receive. You could be looking at a few days, maybe up to a week’s wait. There is also some paperwork you will have to do to set up the transfer, though this is a one-time thing.

Debit Card Re-Credit - A debit card re-credit involves money being credited back to the card you used to make your deposit, and while this may sound convenient, very few sportsbooks offer this so U.S. gamers. Additionally, the turnaround time is about a week.

More About USA Sports Betting Withdrawals

Of course, these different withdrawal options all come with unique pros and cons, and there is more to them than just the processing time. Indeed, there are several other issues for players to consider as they make this decision. We’ve highlighted a couple of them in the paragraphs that follow.

Credit card Verification Forms

One thing to note is that you may need to fill out a credit card verification form—that is, assuming you opt to make your initial deposit via credit or debit cards. These forms are used to verify that you are who you say you are, and that you are authorized to submit the card in question. In other words, this step is designed for your protection.

Sometimes, these are required at the time of your withdrawal, as well, specifically at the popular online sportsbook Bovada. You can usually print out the online form, complete it, and either fax or e-mail it back. Note that you may need to photocopy your identification card, as well; this is simply the industry standard.

Withdrawal Fees

Also note that you will likely be charged a fee for every withdrawal that you make. The amount of the fee will vary, depending on the delivery method and payout speed that you select. Some of these withdrawal forms do not come with fees, though most of the time American gamers do have to pay—simply as a result of UIGEA legislation.

Why Do I Have To Pay Fees?

Speaking of which, the Unlawful Internet Gambling Enforcement Act of 2006 is, indeed, pertinent to online gamers, at least those betting from within the U.S. What this law means, most basically, is that, while Europeans can use things like PayPal or simple debit card transactions to make withdrawals and deposits at online sportsbooks, Americans cannot, usually.

This explains why you have to pay fees: Gambling sites have to jump through more hoops these days to offer you quick, secure payment options. The silver lining here is that this legislation is likely to be repealed when online gambling because totally legalized in the U.S.—and that’s something that will surely happen sooner rather than later.

Click here to learn more about the payout options and where to bet in your state.

Bovada Is Legal For All U.S. Players