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Finding the Best Payout Options at an Online Sportsbook

Updated: .May 23, 2017

By Dave Schwab

It really does not matter what attracted you to the online sportsbook you currently use to bet on sports in the first place as long as you are happy with its selection of sports betting options, the customer service support you receive for your online betting account and the overall response time when you make a withdrawal request.

The latter of the three is probably at the top of most sports bettor’s list, because when you win you want to get paid. The top offshore sportsbooks in the Internet sports betting industry are well aware of the fact that a big part of its overall rating by various online sportsbook review sites is based heavily on its response time for paying out money on winning bets.

Most books will offer customers a number of different banking options to make deposits and receive funds and, as expected, some are better than others. Along with being concerned with how long it may take to get paid, you also have to be aware of any fees or other additional costs that may be involved with any particular method. If it is costing you a hefty fee every time you request a payment by one particular option, it may be time to starting looking into some other methods that offer lower user fees.

You also need to constantly police the online sportsbooks that you do business with. Just because it earned a high rating in its latest round of online reviews, if it is taking longer and longer for that book to process a payout request this could be a sign of some potential trouble down the road. Truth be told, the highest ranked sportsbooks in the online sports betting industry tend to be the most consistent ones when it comes to making timely payouts, but everything is subject to change in what can be a very competitive business environment.

One of the fastest growing options for making both deposits and withdrawals from an online betting account is through a virtual online currency known at Bitcoin. More and more offshore sportsbooks accepting online sports bets from US players as well as sports bettors from across the globe are adding Bitcoin as a preferred method of transferring money on the Internet. In just a few short years, it has grown to become a highly popular option among anyone looking to move money online.

Some of the biggest benefits of using Bitcoin as an e-wallet money transfer service include the simple fact that it does have to be tied to a traditional bank account. There are a number of public exchanges were Bitcoins can be used to make payments, purchase goods and services as well as complete a variety of other online financial transactions in a safe, secure and completely anonymous fashion. The actual value of Bitcoins varies much in the way that stocks can go up and down since they are bought, sold and traded on an open market.

Another popular way for recreational sports bettors to request a withdrawal from their online betting account is by check. There may be some additional time required when requesting to be paid by check, but most of the top online books will offer one free payout each month using this method.

The best thing you can do when it comes to online sportsbook payout requests is to completely educate yourself with all the rules, regulations and requirements a particular online sportsbook may have in place for each particular payment option it offers. Nobody like surprises, especially when it comes to money so be sure to do your due diligence ahead of time to find the best payout options for your particular sports betting needs.

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