Sportsbook Withdrawals & Payouts
This guide to sportsbook withdrawals will prepare readers for everything they need to know about what could possibly be the most important part of wagering: collecting your winnings. As you read this page, you will come to find that there are plenty of methods available at the best online sportsbooks for U.S. players, and they all have differing speeds, fees, and limits. There is plenty to learn, and we hope to cover every question you might have in this article.
This page is going to cover the legality of online sportsbook payouts, as well as give you instructions on how to request them. We will delve in to each method that is available at the premier sites, and go over the fees, limits, and speeds. After reading this, and our other sports betting pages, you will have more than enough information to get you started.
Are Sportsbook Payouts Legal?
Yes, every payout method used by top-tier online sportsbooks are legal for U.S. residents. That being the case, there are certain rules the sportsbooks must follow, and certain payout methods that they cannot offer. one of the federal laws that regulates betting entitled the Unlawful Internet Gambling Enforcement Act regulates funding methods for legal online sportsbooks, but only certain methods.
The UIGEA states that U.S. sports betting sites are not allowed to send payments directly to a player’s credit card. This is not as much of a hindrance as it seems because there are plenty of other efficient methods that these sites use to get you your money fast and safe, which we will cover later. Just know that you will not be able to request a payout to your credit/debit account, but there are many methods in place that are just as simple.
Payout & Withdrawal Methods
There are many payout methods to choose from on most sites, and some have more than others do. In this section, we are going to describe the methods that most sites use to get you your winnings. All of the sites we recommend follow the rules of the UIGEA, and you can be sure that any method you choose will be legal and safe.
Each method comes with processing times, fees, and minimums/maximums. On order for you to find your preferred method, we will include all of this information in each description. Let’s take a look at the best payout methods for U.S. players.
Submitting A Withdrawal Request
To request a payout you will go through many of the same motions that you would when making a deposit into a legal betting account. Just head over to the cashier section of the sportsbook that you are using. Once there, simply choose a payout method. Each method will have instructions on how to request the money, and the way in which it arrive to you. These sites make requesting a payout simple and fast.
Legal Betting Withdrawals By Checks
One of the most popular payout methods that most sites offer is the tried and true check in the mail. You might not even remember the last time you mailed a check, but we can assure you that this is one of the safest methods in the business. When you request a check, the site will send it to your address that day through expedited mail. You can then cash the check at your local bank, and get that hard-earned money in to your hands.
Processing Time: Checks are sent out the same day they are requested. Most players receive their checks within a week, although snail mail can potentially take up to a month. These sites do their best to make sure your money gets to you fast.
Fees: Checks can come with fees ranging from $25-$80, depending on the website and the amount requested. However, one thing that makes checks so popular is that many online sportsbooks allow one free check payout per month! This free monthly withdrawal option is more than enough for most average bettors, and is why checks are used by so many.
Minimums/Maximums: These vary greatly site to site. Generally, the smallest amount you can withdraw via check is $50, but some sites allow $25 payouts, while some others don’t let you request less than $500. The limits work the same, with some sites setting the bar at $1,500, while others allowing up to $25,000. Check the online cashier of the site you are using to read about limits.
Legal Cash Wire Transfer Payouts
Another very popular payout method is a cash wire transfer via Western Union, MoneyGram, or other wire providers. Soon after you request the payout, you will receive a reference number, which you will take to your local cash wire transfer retail outlet. This excellent withdrawal method is similar to checks, but arrive bit faster.
Processing Time: Cash wire transfers are very quick. When you request the payout, the site will email you a reference number with which to pick up the payout. After that, it is all up to you; whenever you want to pick it up it will be available.
Fees: Service fees ranging from $25-$105 can accrue when using cash wire transfers depending on the amount you would like to withdraw. Some sites will cover the fees if you request more than a certain amount, usually around $300.
Minimums/Maximums: Minimums for cash wire transfers usually hover around $100, while the maximum is usually around $1,000. Check your site of preference to see the amounts they allow for cash wire transfers.
| Rank | Legal U.S. Betting Sites | Withdrawal Options | Find Out More |
|---|---|---|---|
| 1 | Bovada Sportsbook | Checks - Bank Transfers | Visit Bovada |
| 2 | BetOnline Sportsbook | Check - Transfer | Visit BetOnline |
| 3 | SportsBetting | Check - BitCoin - WU | Visit SportsBetting |
| 4 | 5Dimes Sportsbook | BitCoin - Debit/Credit | Visit 5Dimes |
Legal Payouts By Bank Wire Transfer
Bank wire transfers are another popular method because they are very fast, usually taking under a week to arrive. To request a bank wire transfer you must send the site your bank wire instructions along with the amount you would like to withdrawal. They will then process the payout and you will be well on your way to receiving your hard-earned cash.
Processing Time: Bank wire transfers are very fast, usually taking under a week. Most players receive their winnings in less than 48 hours.
Fees: Fees are quite hefty for bank wires, which is one reason they are best for large withdrawals. The fees usually range from $45 to $85, depending on the amount your request.
Minimums/Maximums: Another reason to use bank wire transfers for large payouts exclusively is their minimums and maximums. The usual minimum for most sites is $500, with the maximum being around $25,000. Many high rollers love to use bank wire transfers as their payout choice.
BetOnline Sportsbook
USA's Leading online Sports Betting Site
BetOnline is a premier U.S. online sportsbook that has been around for over two decades. The longevity of this site attests to how they treat their members. You will find many great payout options at BetOnline such as cash wire transfers, bank wires, checks, bitcoin, and more. We believe that BetOnline beats out all of the competition when it comes to funding methods, and one glance at the online cashier will prove this theory.
Sign up at BetOnline today and you will be eligible to receive a 25% Welcome Bonus worth up to $1,000 in sports free plays. This promotion will add some serious weight to your online wallet, and get you closer to requesting a large payout after wagering on only a few games. Check out the BetOnline sportsbook and, along with your generous bonus money, you will be racking in the dough in no time.
U.S. Betting Withdrawals By Cash/Gift Cards
Although they have certain limitations, cash/gift cards can be great ways to collect your winnings. The main caveat for methods such as these is that they only allow you to withdraw certain amounts. Still, if you want a specific amount, or you like to shop at certain places like Amazon.com or Walmart, this can be a great payout method.
Processing Time: Cash/gift cards are processed on the same day that the payout is requested, making this one of the fastest payout methods in the industry. You will receive your card within two days of the request.
Fees: U.S. online sportsbooks do not charge fees for cash/gift cards, which can add to the allure of this method.
Minimums/Maximums: This is where the cash/gift cards can look slightly less attractive as the other methods. Most sites only payout certain amounts. For instance, if you request a prepaid card to get paid, you will likely only be able to withdrawal $500 per payout on most sites. Gift cards such as Amazon and Walmart work the same way. Occasionally you can withdraw varying amount in certain increments, such as $50 or $100.
Legal Payouts By Bitcoin
A relatively new payout option on many sites is Bitcoin. If you are a Bitcoin user, this is actually a very good method for payouts. Sites require you to have made at least one deposit via Bitcoin in order to withdraw with this method. Many Bitcoin users fund their accounts exclusively with this method.
Processing Time: Bitcoin is very fast, taking less than 48 hours to fund your account. One caveat is that Bitcoin is subject to availability, meaning that some days it might not be available. Check the online cashier to see if Bitcoin is usable that day.
Fees: Similar to cash/gift cards, Bitcoin payouts do not come with fees. However, since Bitcoin is considered its own form of currency, exchange rates will apply. These vary month to month, but are never very substantial.
Minimums/Maximums: The usual minimum for Bitcoin withdrawals is $20, with the maximum being around $4,000. This advantage makes Bitcoin great for small-to-medium payouts.
What Is The Fastest Sportsbook Payout Method?
While Bitcoin and cash/gift cards are technically the fastest payout methods, they tend to be less popular than some of the other options because of their limitations. This is why we suggest cash wire transfers for players wanting fast withdrawals. You can request small-to-medium sized payouts, and they process within 24 hours of the request. If you don’t feel like waiting to receive your cash, cash wire transfers are the best options available in our opinion..
Sportsbooks With The Most Legal Payout Methods
For legal betting US bettors have numerous options to choose from when you want to withdraw funds from a leading sports betting site. The UIGEA sets certain limitations on sportsbooks, but there are plenty of ways to get around this. We feel that a site that is worth playing at should have numerous payout options of varying speeds. We think the site that we review below rules the game when it comes to payouts, and we think you will agree.