In this day and age where online banking transactions can be executed instantly with a gesture on an Apple Watch, one thing is clear: Sports bettors do not expect to wait days to receive their payouts.
The evolution of the industry has seen the addition of bitcoin to many top online sportsbooks cashiers, despite once being considered a passing fad.
The benefit of bitcoin is that online sportsbooks are able to process transactions quickly and without fee, eliminating the need to use third-party processing middlemen that ultimately drive costs up, which are consequently passed on to players.
Countries that are compatible with eWallets such as Skrill or Neteller are still the favorite among rest of world players (non-US/Canada) as players are able to fund their accounts their credit card and bank transfer, and can even make withdrawals using eWallet issued ATM cards.
So, the question becomes how long is too long to wait for a sportsbook payout?
eWallets (Skrill, Neteller)
The best of the best sportsbooks can process five figure and larger eWallet withdrawals within minutes. Online sportsbooks ranked lower on the eWallet payout time totem-pole take minimum 72 hours to process an eWallet withdrawal of any size, while the clear worst eWallet sportsbooks take over a week on average to complete these payments.
An online sportsbook that deals exclusively in bitcoin better not take longer than 10 minutes to issue a withdrawal. Sports betting websites that have other currencies and whose business model do not revolve around bitcoin generally take a day to pay. Sports bettors should avoid using bitcoin to deposit with sportsbooks that take multiple days to fulfill a bitcoin withdrawal.
The average is one day for Moneygram and Western Union payouts. Some sportsbooks take up to three days. Any longer than this, consider depositing with a different online sportsbook.
Most card options are fulfilled within 2 days business days. Sportsbooks that take over a week to fund a payment card are worse than the industry average.
The average is 5-7 business days for a wire transfer to be received at a top online sportsbook. Sportsbook bettors have complained consistently that select online sportsbooks (those on the blacklist or teetering on the edge of inclusion) take minimum two weeks to pay via this method.
If you're a sports bettor who has been forced to wait longer than the times listed above, submit a sportsbook complaint with SBR.