Sportsbook Payouts - Cashing Out Your Winnings
There are plenty of viable ways to get a payout from one of the best online sportsbooks. The best way to do this at most sportsbooks is going to be cryptocurrency. The best sportsbooks in the USA hold the title that they do in part because they make getting your money out of the sportsbook as easy as possible.
Popular methods for withdrawal include checks, cryptocurrency, and wire transfers, with crypto having the lowest fees and fastest transfer times. Checks have managed to hold on as a useful method of withdrawal thanks to how familiar they are to everyone, and some sportsbooks offer other withdrawal methods as well.
Can USA Sportsbooks Payout to my Credit Card?
No. Credit card payouts cannot be processed at the majority of online sportsbooks. You can receive checks that are then deposited into your bank account, but generally, they cannot put money onto a credit card directly, because a credit card works on credit, and these companies cannot simply pay your balance off for you.
Is It Legal To Receive a Sportsbook Payout?
Yes. it is safe and legal to receive a payout from a USA online sportsbook. The relevant laws – in this case the UIGEA – do not restrict anyone from receiving payouts. The laws are targeted at payment processors, not at individuals. In addition, if you use cryptocurrency, you’ll bypass even the need to worry about payment processor issues.
Processing Times With Payout Methods
Payout methods for online sportsbooks will vary in many respects, and processing times is one of them. Obviously, it takes more time to send a check over to you than to process a cryptocurrency withdrawal. The general rule of thumb is that crypto is the fastest method, checks are the slowest, and every other method falls somewhere in between. Check out Bovada’s processing times as an example:
Bovada Payout Method Processing Times
| Method: | Time Frame: |
|---|---|
| Bitcoin | 24 Hours |
| Bitcoin Cash | 1 Hour |
| Litecoin | 1 Hour |
| Ethereum | 15 minutes |
| Player Transfer | Up to 15 minutes |
| MatchPay | Up to 15 Minutes |
| Voucher | 2 Business Days |
| Check by Courier | 10-15 Business Days |
Processing Fees With Payout Methods
Online sportsbooks make their preferences known when it comes to payout methods by applying fees to the ones that can give them trouble. One of the major upsides for cryptocurrency users at online sportsbooks is that they can sidestep fees entirely on the sportsbook-side, only paying gas fees on the movement of their crypto. This means they have the least amount of margin-cutting among the major payout methods.
Bovada Payout Method Fees
| Method: | Time Frame: |
|---|---|
| Bitcoin | 0 |
| Bitcoin Cash | 0 |
| Litecoin | 0 |
| Ethereum | 0 |
| Player Transfer | $100 except first time |
| MatchPay | $100 except first time |
| Voucher | $100 except first time |
| Check by Courier | $100 except first time |
Minimums/Maximums on Payout Limits
Minimums and maximums on payout limits vary heavily depending not only on what deposit method you use, but what sportsbook you use. For example, some sportsbooks offer unlimited maximums for crypto usage, some cap it at $10k, and others cap it at $100k. This situation means that many online sports bettors have to choose not only a proper online sportsbook to use, but a proper deposit method.
Bovada Payout Methods – Mins And Max
| Method: | Minimum Payout: | Maximum Payout: |
|---|---|---|
| Bitcoin | $10 | No Limit |
| Bitcoin Cash | $10 | No Limit |
| Litecoin | $10 | No Limit |
| Ethereum | $10 | No Limit |
| Player Transfer | $10 | $15,000 |
| MatchPay | $20 | $1,000 |
| Voucher | $10 | $3,000 |
| Check by Courier | $100 | $3,000 |
USA Sportsbook Payout Methods Pros and Cons
Sportsbook Payouts Using A Check
- Pro: Checks are reliable, everyone knows how to use them, and you can avoid having to learn about other methods of deposit.
- Con: Checks have high fees, low payout minimums, and have to be waited for in real time.
Wire Transfer
- Pro: They are speedy compared to checks, but still take some time. Money can go directly to you.
- Con: Significant fees, and can take up to a week.
Money Order Sportsbook Payouts
- Pro: Similar to checks, but mostly faster.
- Con: High minimums, low maximums, and many sportsbooks have stopped offering money order payouts.
Bitcoin Sportsbook Payouts
- Pro: Fast payouts with no fees. Arguably the best single withdrawal method available at online sportsbooks.
- Con: If you don’t want to become an inadvertent crypto speculator, you need to sell your crypto immediately. Of course, for some people this is a pro – there are many crypto believers out there.
Best Sportsbook For Easy Payouts
The best sportsbooks for easy payouts all share a few things in common. First, they offer crypto withdrawals as a major option. This means that players at these sportsbooks can get withdrawals with no fees at any time. Second, they offer a variety of other withdrawal methods for those who wish to avoid crypto. Finally, they are trusted and regulated online sportsbooks that we use, and we know will treat you well.
BetOnline Sportsbook 
BetOnline features a wide range of withdrawal methods – wider than any other sportsbook, especially as far as crypto is concerned. There is no other sportsbook on the planet that takes more crypto than BetOnline. This means that bettors have tons of options to access no-fee withdrawals, which is a huge advantage, since fees cutting into your hard-earned sports betting winnings is basically a nightmare.
Bovada Sportsbook
Bovada is a stellar online sportsbook in every respect, and it should be no surprise that they rank high in terms of withdrawals. Bovada features many different ways to withdraw, applies no fees on crypto, and even covers the first withdrawal fee on other withdrawal methods that you want to try out. They also have a program where if you only withdraw via checks every 90 days, they’ll cover the fee each time. If you hate payout fees, you’ll love Bovada.
