Fastest Paying Online Casinos

Many casinos advertise themselves as being fast payout casino platforms, but the truth is that you will still wait between 2 to 3 days from your initial payment request before the money reaches its intended destination. On this page of the GamBonus.com website, we explain why this is so. As regards where to look for the best rapid payout sites, including the fastest paying online casinos in the business, we strongly recommend that you use this website as all of the casinos we list have been checked for player safety and fair gaming by our team of experts. You can also check out our casinos reviews for more information.

Why Online Casino Withdrawal Applications Take So Long to Process

Online casinos are designed to provide those who enjoy gambling with an easy and convenient way of participating in an exciting, fun pastime that provides challenges and opportunities to win real money. Unfortunately, they also provide people involved in illegal, criminal activities with an easy way of laundering money.

Money Laundering

Money laundering is the process whereby those who have gained money through unlawful activities can wash it by purchasing legal goods and services, which allow them to then reclaim said money. The reclaimed money (winnings, when talking about the online casino industry) then appears to come from a legal source. Indeed, it is a legal source despite the fact that it wasn’t when it was used for the deposit.

There are three steps in the money laundering process:

• Step 1 – Placement:  When the “dirty money” is injected into a legitimate financial site.
• Step 2 – Layering: This process is about concealing the origin of the money via a series of transactions and trick bookkeeping.
• Step 3 – Integration: The final step, where the clean, laundered money is withdrawn from a legitimate account.

   

In order to try and prevent money laundering, even the fastest payout online casino has to operate an AML (Anti-Money Laundering) program, which should include CDD (Customer Due Diligence) involving the verification of customer identification documents. 

KYC – Know Your Customer

The AML process operated by all casinos, including the fastest paying online casinos, is known as the KYC (Know Your Customer) process. As well as combatting money laundering, KYC is also used to prevent underage gambling. For properly licensed online casinos, it’s a mandatory procedure which also forms the cornerstone for responsible gambling.

Third-Party KYC Processing

Most online casinos, and certainly fast withdrawal casinos, go through the mechanics of  the KYC verification process in-house. However, some contract it out to a third party, such as iDenfy or Jumio, and because they have no direct control over the company carrying out the procedure on their behalf, it can take more time, especially if there is a long queue.

Doubling Up on KYC Is not Always Necessary

These days, it’s quite common to have to complete the KYC procedure when you first register. Once you’ve done so, click the verification link if the casino sent you one, ,ale a real money deposit (or claim a no deposit welcome bonus), and you can start playing. 

However, most instant payout casino platform’s terms and conditions have a clause that says they reserve the right to check your ID at any time, which usually means when you request a withdrawal.

The fact is that KYC verification is not mandatory in most jurisdictions when you make a deposit at an online casino, whether it’s one of the top online casinos that payout instantly or not. The reason for this is that deposits in themselves don’t carry the same risks that withdrawals do in terms of money laundering and fraud. But, as always, there are some exceptions. The UK is one.

The UK Gambling Commission (UKGC) insists that all of its licensees must verify your identity before you can make a deposit. This part of the KYC procedure can be done via third-party software. But if this automatic check fails, you will be asked supply full ID proof before you’ll be permitted to make your deposit.

How Long Does ID Verification Take?

You will have to spend at least a little time waiting for ID verification, even with quick withdrawal casinos. The time, which can usually be anywhere from hours if you’re playing on one of the fastest paying online casinos, to two or three days if you’re not, depends on various factors. They include:

• How quickly you respond to the proof of ID request.
• Whether or not the copies of the documents you provide are clean and legible. If not, it will delay the process.
• The timescale a casino uses. Some work around the clock, while others work normal office hours.
• The length of the queue. In busy times, like weekends and bank holidays, the queue could be bigger, and you’ll have to wait longer for your turn to come.

   

Common Problems Players Experience with KYC

Sometimes, players encounter problems when trying to complete the KYC procedure. The  most common difficulties are:

• ID document unacceptable: Casinos require an ID document that includes a photo. It has to be a passport or a national ID card. Cards issued by other authorities may not be accepted, even though they are bona fide and include a photo.
• Given address rejected: The usual document required is a utility bill, such as a water or electricity bill, which clearly displays your postal address. Telecommunication bills often do not qualify. Also, in most cases, the document needs to have been issued in the last three months.
• Payment method not verified: If this happens, take a screenshot with all the necessary details clearly visible. A photograph of both sides of your payment card may also help.

   

Even if the platform you’re using is a new instant withdrawal casino site, the KYC process can take longer than you hope. It’s a manual process. Try and be patient.

Payment Methods Accepted at the Fastest Paying Online Casinos

The payment methods you use can have a significant effect on withdrawal times. The first thing you need to consider is that a fast payout casino likes you to use the same payment method both when depositing and withdrawing. That means that things like Paysafecard and pay by mobile phone bill will cause problems because they can only be for depositing. If you use one of these payment methods for depositing, when you come to make a withdrawal, you’ll have to opt for another method, which will cause a delay.

Online casino payment methods and the times they generally take for withdrawals are:

1. Bank transfers – Up to 5 days.
2. Credit cards – Up to 5 days.
3. eWallets – from 2 to 48 hours.

    

Obviously, options 1 and 2 not used by platforms on the same day payout online casino network. Option 3 is the favourite. 

The screenshot below is taken from the Bit Starz casino, which specialises in Bitcoin.

The Most Popular eWallets

The most popular eWallets in Europe include:

• eZeeWallet
• Jeton
• MiFINITY
• MuchBetter
• Neteller
• PayPal
• Payz (formerly ecoPayz)
• Skrill

   

eWallets are a popular choice not only because they offer one of the fastest withdrawal methods, once you withdrawal request has been processed by the casino, but they offer a good degree of anonymity, and no or low fees depending on the brand in question.

Crypto Wallets and Fast Withdrawal Casinos That Accept Crypto

The use of crypto in online gambling has increased substantially since its launch back in 2009. Players liked it initially because it offered better anonymity, and transactions were considered more secure because they are enacted via blockchain technology. However, since online casinos began complying with KYC philosophies, some of that shine has worn off. 

Although the fastest paying online casinos often forgo KYC ID proof when you register, they still have to comply with it when you withdraw money, in order to accord with the conditions of their gambling licenses.

Depositing and Withdrawing With Crypto

If you want to use crypto to fund your online gambling at an instant payout casino, you’ll need to open a crypto wallet. Depositing with crypto works like this:

• Select a trusted crypto exchange such as Binance, Coinbase, etc.
• Open an account and verify your ID.
• Add funds via whichever source you prefer—bank transfer, credit card, Apple Pay, Google Pay, etc.
• Purchase Bitcoin or another cryptocurrency and transfer it to your crypto wallet.
• Open the deposit page at your chosen fast payout casino.
• Select ‘Crypto’.
• Copy paste the casino’s unique deposit address or scan the QR code – whichever option the casino presents you with.
• Enter the amount of crypto you want to deposit.
• Click ‘Confirm’ or ‘Deposit’.

   

When withdrawing via crypto:

• Open the cashier page at the casino and select ‘Withdraw’. 
• Confirm the cryptocurrency in which you want the withdrawal made.
• Enter the amount you want to withdraw.
• Enter your crypto wallet address.
• Click ‘Confirm; or ‘Withdraw.

   

One thing of which you should be aware is that if you’re claiming a welcome bonus, crypto might not be a deposit option unless the casino is crypto centric.

Interestingly, some quick withdrawal casinos (like 7 Bit) have on-site crypto exchanges (some platforms have a partnership with Moonpay), which facilitates you buying crypto using the currency and payment method of your choice.

What Triggers KYC on Withdrawals

Each fast payout casino sets its own rules when it comes to asking you to complete their KYC process. Some will insist on it when you register, and some will only initiate it when you make a request to withdraw your winnings. They might ignore small withdrawal amounts if you completed KYC when you registered, and will revert to it only when the sum involved is significant, or a pattern of regular modest amounts is detected. For many of the fastest paying online casinos, the trigger is set at £2,000.

Minimising KYC Delays

KYC is a thorough process designed to validate who you are. It has been put in place to safeguard you as a player and to ensure that even the fastest payout online casino complies with anti-money laundering laws. You are likely to be hit with it many times throughout your gambling life. It does take time, but you can limit how long it takes by being prepared. Follow these steps:

• Have the necessary documents accessible.
• Ensure that the copies of said document are clearly legible.
• Make sure the details of the documents contain what is required.
• Follow the procedure specified by the casino.
• Remain aware and responsive should the need arise.

   

If you save the documents on your computer or laptop for quick access, don’t forget to make sure they are kept up to date. Utility bills, for example, must usually have been issued within the past 3 to 6 months.

No Such Thing as a Legally Licensed Instant Payout Casino

Although the terms ‘Instant’ and ‘Immediate’ are bandied around in connection with making withdrawals from the fastest paying online casinos, it’s basically a fabrication. Any casino that has one of the industry respected gambling licenses such as Curacao eGaming license, an MGA license, or a UKGC license, has to employ KYD proof of ID at some stage, and this takes time. The Anjouan license is one of the more relaxed licenses, but even so, the degree of compliance varies from licensee to licensee.

Beware Unlicensed Fast Withdrawal Casinos

A reputable and respected online casino gambling license guarantees your player safety, ensures the site offers fair gaming, utilises tried and trusted payment methods, and provides appropriate customer support. You cannot rely on any of these things if you choose to play at any of the unlicensed, paying online casinos – of which there are many.

We here at GamBonus.com recommend gambling responsibly at one of the licensed, quick withdrawal casinos listed on our website. It’s best to exercise a little patience and be prepared to wait anywhere between 2 and 48 hours to withdraw your winnings, rather than choosing an unlicensed casino you come across elsewhere, promising immediate withdrawals, only to find that your identity has been stolen or your financial details have been compromised.

Frequently Asked Questions

What is KYC

The initial ‘KYC’ stand for ‘Know Your Customer’.

Why do online casinos utilise KYC?

It is used to help prevent underage gambling, combat money laundering, and ensure that the money withdrawn reaches the intended recipient.

Are there any online casinos that do not utilise KYC?

The only online casinos that do not use KYC are sites that operate without a gambling license. GamBonus regards these sites with extreme caution and recommends that you steer well clear of them.