More and more UK gaming platforms and bookmakers are now offering fast withdrawal options, which allow you to get your cash quicker when you withdraw it. This is in stark contrast to the past when the cash would have taken several days to land in your bank account. Nowadays? You could have access to the cash in a few minutes. It has taken gambling companies a long time to get to this point, but it has made the whole experience a lot more convenient. After all, who wants to wait around for days to get cash? You wouldn’t experience slow payouts at a brick-and-mortar casino or bookmaker.
Today, we’re going to take a look at how UK fast withdrawals work. We’ll also give you a few of the benefits that extend beyond just getting your cash quicker.
What are Fast Withdrawals?
This part probably doesn’t need a whole lot of buildup. It just means that you get your cash winnings quicker, far quicker than in the past. If you have gambled online for a while, then you’ll probably know that a few years back, you would have been lucky to get access to your winnings in just a few days. With fast withdrawals, you could have the cash sitting in your account faster than it takes for a horse race to finish.
Fast withdrawals are not available on every single website. They are also not available for every potential payment method on a platform. So, whenever you land at an online bookmaker or casino, have a look through their withdrawal options to get a clear idea of the speed and whether they truly are one of the fastest withdrawal casinos available. Generally speaking, fast withdrawals will only be tied to systems where instant payment systems are available, such as:
– Bank transfers (within the UK)
– eWallets, such as PayPal and Skrill
Fast withdrawals may not be available for payment methods such as debit cards, mostly because the refund process, which is how the cash is sent to these cards, can take up to seven days. This timeline is completely out of the control of the cash sender.
How Do Fast Withdrawals Work?
Now you know the definition of fast withdrawals, we need to let you in on a caveat — fast withdrawals may not always apply the first time that you withdraw cash from your account. There are rules in place, and those rules are out of the hands of the gambling companies.
Online gambling, like many industries, suffers from criminals attempting to do illegal things, such as money laundering and identity theft. Every online gambling company has a legal obligation to double-check who they are sending money to. They must also keep certain logs. This means that the first time that you ever make a withdrawal at an online gambling site, you will be subject to certain checks. For example, you may need to supply photos of an identity document or a copy of a utility bill.
Some online gambling sites will allow you to pre-verify yourself, so your fast withdrawal won’t be impacted, so have a look through your account settings and see which information is required. Even the document approval process should be incredibly quick. Many top online gambling companies will have software that can verify documents.
Every so often, you may be asked to send additional documents to verify your identity. Again, this is out of the control of most online gambling companies. Many of them will try to grab that information before you even attempt to make a withdrawal, so you should have advanced notice of everything. This normally happens after a certain number of withdrawals. The more you gamble somewhere, the lower the chances are that you will need to prove your identity. After all, you will become a trusted gambler on the online platform.
The Benefits of Fast Withdrawals in the UK
The main benefit of looking for a fast withdrawal option is that you get your winnings quicker. Most of us are gambling for a bit of fun, and we may want to treat ourselves if we hit it big on the roulette wheel, or because we gambled on Harry Maguire to score an own goal or something (low odds on that one!). However, this isn’t the only advantage.
Due to the amount of effort that it takes to put a fast withdrawal system in place, most online gambling companies don’t bother. Those that do have invested in their company, which means that they are much safer places to gamble and often boast a lot more features through their online marketing activities, highlighting it as a key unique selling point to their customers in adverts or blog content, which in turn helps build their brand.
Always do your research, as fast withdrawal options can differ from one online platform to the next. You should also ensure that you pre-verify your identity before you make your first withdrawal, just to make the process a little bit faster.
UK fast withdrawals do just what you expect them to. You can withdraw your money from an online casino or bookmaker quickly, normally within a few minutes or a few hours. This doesn’t negate the rules that online betting companies need to abide by though. During your first withdrawal at any platform, you’ll almost certainly need to verify your identity, which can take anywhere from minutes to several days, but once you have managed to get over that hurdle, you won’t have to go through that process again.