Cashout Your Winnings
Time to withdraw your winnings from your sports book account? If you're reading this section, you must have won some money. That's always good news.
The online gambling scene keeps weathering one sea change after another. For U.S. bettors, legislation such as the UIGEA has had an enormous impact and redefined the market. Sports fans of other nations have had to adjust to changes their home countries have brought upon the industry, too.
Many options for withdrawing money from an online sportsbook have vanished, but new ones tend to open up to fill the void. Customers outside the U.S. continue to have more of a range of methods for cashing out. Non-U.S. bettors can usually use:
Credit cards: These continue to be options for many, for cashouts, if you are not in the United States.
Bank Wire: Easy to do. Request to be paid by wire and make sure you give the full information required for processing. There is normally a minimum withdrawal amount required, and sometimes a fee.
Online Wallet: Neteller, Moneybookers, and Click2Pay are examples of online financial processors which are open to residents of many nations other than the United States. These 3 have a history of service and security you can read about online.
No matter where you live, you should make sure you're doing a couple of things.
1. Communicate with your sportsbook -- and stay in touch with them. Ask which methods are available to withdraw for someone in your location. And when it's time to cash out, ask again if the same methods are still open to you.
2. Have more than one method available for you to use. For instance, if your sportsbook is changing check processors when you want to withdraw, you'll need an alternative to avoid long wait times.
Other methods:
Check: Check processors change, so ask: Is this still an option for withdrawal? and How long would it take to receive winnings by check?
Bank Wire: Check to see if they are able to wire to a U.S. bank account. Alternately, they may be able to wire to a non-U.S. bank account, if you have one. And ask how long they expect this to take.
Other Online Wallets: If you're smart you've signed up for other methods available online in addition to the method you first used to deposit to your sportsbetting account. Worldwide bettors are still having reasonable processing times for cashouts using Click2Pay, Moneybookers, and Neteller, as well as others. U.S. bettors are able to use Usemywallet and eWalletXpress. EWalletXpress does not require a credit card, and can be funded from a bank account. There is a 10% fee to withdraw funds. Usemywallet requires an invite from an online sportsbook or casino in order to sign up. Ask your sportsbook if they offer these as deposit/withdrawal methods.
Person-to-person Transfer: These cash transfers charge sizable fees. If your sportsbook uses this method, they'll give you details. If you are choosing this method only because check or some other preferred option stopped being available -- or is taking way too long -- you might ask them to waive part or all of the fees. It's worth a shot.
Often when you request winnings, you'll be asked to submit ID. This is a security measure and extremely common now, so try not to view it as a reason to distrust your sportsbook. Your account with them already contains this information.
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