Get Your Winnings Out Quick with this Poker Site Cash-Out Guide
No player wants the excitement of a big win ruined by a lengthy cash out process. This guide covers everything you need to know about getting your profits out of poker sites – and into your pockets.
Both US and international sites – and many payment methods are covered. You will also find out what steps to take in advance to ensure that you get the best possible withdrawal speeds.
Here is what you will find on this page:
US banks will try (usually unsuccessfully) to block transactions with the offshore poker sites. Credit card poker deposits will work, though these do not accept cash outs. To make a credit card deposit, your card will need to be able to make international purchases – as the poker sites are based in Caribbean nations or in Central America.
Bitcoin and other cryptocurrency deposits and withdrawals have proven to be a far easier option. These days, using Bitcoin is simple. With most of the sites working in dollars, you only need to hold Bitcoin for a short time – making the volatility of prices for these less of an issue. Bitcoin works quickly and simply for withdrawals too.
Money Transfer services like MoneyGram and Western Union can also be used for both deposits and cash outs. Some sites will also work with bank wires – though the banking restrictions make these tricky and they are expensive for smaller amounts.
If you deposited with an option that does not accept cash outs, then a paper check will be the standard withdrawal method. Most sites will courier these to your door, though you will have to wait for your bank to clear the funds.
Outside of the US, withdrawing poker profits is much easier. Many credit cards and debit cards will be able to accept cash outs. There are exceptions. Maestro cards and sometimes MasterCard credit cards will not be able to accept withdrawals.
Electronic wallet services are popular internationally. These provide a secure step between banks and poker sites. The best-known brand is PayPal. There are several others including Skrill, Neteller and Trustly. Withdrawals to these services are quick and easy.
If you used a voucher, virtual credit card or one of the cards above which don’t accept withdrawals, you’ll need to find an alternative way to cash out. Checks can be used, though local bank transfers are the method of choice. These can take up to 3 days to get through the banking system and into your account.
Below I have provided more information on the individual cash out methods.
If you want fast cash outs from all the offshore poker sites – switching to Bitcoin makes a lot of sense. This payment option is very much mainstream these days, and a lot easier to set up than most players realise.
Here are the 7 steps needed to cash out quickly:
Even with the processing time the sites add for all cash out requests, you should have your money within 2 to 3 days – that is a lot faster than waiting for a paper check and makes this method the fastest poker payout method for 2018!
Many players are surprised to find out that paper checks are the default cash out option. Sites will usually offer one free check withdrawal per month. For more than one, you’ll need to pay a small administration fee.
These checks are usually sent by courier right to your door. You will be able to pay them into your bank account, where they will clear after a few days (once the bank verifies the funds). There are no reported issues with US or Canadian banks refusing these checks. Note that they can expire, so make sure you pay them in quickly.
While this cash out method is safe and reliable, it is also slow. You need to add processing time, printing time and a day or two for the courier service – plus however long your bank takes to clear the funds.
Both of these methods will involve charges. Money transfer services make their profit by charging transaction fees – these will quickly eat into smaller withdrawals. If you are happy to pay, then you will find some poker sites willing to send you money via MoneyGram or Western Union. Note that this cash will not come from the site, it will come from a named individual sending on their behalf.
Wires can sometimes be arranged for large withdrawals. You will need to work with your site to arrange these. Restrictions from the banks mean that wires will not always be possible.
If you made a deposit with PayPal, Skrill or another electronic wallet, international poker sites will let you cash out to them. This is one of the faster withdrawal methods. The money is transferred instantly, so you only need to wait for your site to process your request.
Fees depend on the wallet type used. With PayPal, you will pay a small fee when you receive money. With some other services (for example Skrill or Neteller) you pay fees when you send money instead.
While international sites will often send a check (or Cheque!), local bank transfers are preferred. This is a simple version of an international wire. There is often a delay built in to this cash out option. First, the site will need to process your request. Then you can wait up to 3 days while the transaction is in ‘banking limbo’ before it appears on your balance. While not the fastest, this is at least a very reliable withdrawal option.
Most reputable poker rooms will verify your identity before they will process a withdrawal. This is known as a ‘Know Your Customer’ (KYC) check. It is part of an anti-money-laundering / fraud system which protects both you and the site.
You should expect this KYC check. By preparing for it in advance, you will avoid any delays in getting your money out.
The first step to preparing for a KYC Id request is to make sure you use accurate information when you register your account. It might be easy to fill in some random address, though that could prove awkward when you get asked for Id. Double check your registration info before you submit it.
Second, you should collect together your Id documents, and a recent utility bill or bank statement – plus a picture of both sides of your credit card (you can obscure some of the numbers). This will cover all the information sites request. You can even be proactive – and write to security at your site to go through the checks before it is time to withdraw.
Remember, these checks can seem intrusive, though without them we would not enjoy the legitimate poker rooms we all enjoy.
For US poker players Bitcoin crushes the other payment options in terms of cash out speeds. Here are some guidelines for how quick you’ll get the money. Note that the minimum 48 hours ‘processing time’ for the sites to catch up on their administration is included. Of all poker sites we’ve reviewed, Bovada and Ignition are the fastest for quick payouts.
International sites have more ‘quick’ cash out methods. The times below are averages based on the assumption you have been through their KYC checks.
While poker is a clean industry, with very few major issues, there are still some rogue operators. Making sure your poker room has a reputation for great service and fast cash-outs before you deposit can make life a lot easier down the line.
I recommend choosing sites which have been around for 5+ years where possible. Some newer brands are part of groups which have a long reputation too. Look for a licensed site where possible and ensure there are no unresolved issues. If you hear of a scandal or payment delays, get your money back off the site as quickly as possible!