The world of online gambling has grown exponentially in recent years, with more and more players opting for the convenience and flexibility of playing from their own homes. As a result, the competition between online casinos has become increasingly intense.
One aspect that can greatly affect a player's gambling experience is the time taken for processing withdrawals. Some casinos pride themselves on offering lightning-fast withdrawal times, while others follow a more traditional approach.
In this article, we'll explore the differences between fast withdrawal casinos and traditional online casinos in the UK and help you determine which one is better suited to modern-day players.
You must bear in mind that while both types may not be different from each other in terms of game selection, payment methods, casino bonuses, mobile compatibility, and other aspects, their speed of processing withdrawals makes them discrete.
Also, before we begin the comparison, let’s discuss the general process of withdrawing money from UK online casinos.
General Process of Withdrawing Money for the First Time From Online Casinos in the UK
Regardless of whether an online casino in the UK pays out instantly or takes a while to release your funds, the general process of first-time withdrawal involves these 5 essential steps:
- Verification of account details
- Selecting a withdrawal method
- Requesting withdrawal
- Waiting for the request to get processed
- Receiving the payment
Verification of Account Details
To be able to cash out your winnings, it's necessary to complete an initial verification process with the casino. This typically entails submitting some form of government-issued identification, like a passport or driver's license, along with proof of your address, such as a utility bill.
At UKGC casinos, age and identity verification is done electronically prior to allowing a player to stake money. This is true irrespective of whether the operator enables fast withdrawals or otherwise. Even so, these casinos are still likely to ask for photocopies that prove your ID and address in order to process your first withdrawal request.
Selecting a Withdrawal Method
To cash out, players need to head to the cashier or banking page of the casino and select a withdrawal method. This must almost always be the one that was used for deposit.
Please note that traditional online casinos are no different in terms of the payment options they offer. However, their overall promptness in releasing funds may be somewhat slower than that of fast pay casinos.
After selecting a withdrawal method, players need to enter the amount they want to cash out and then submit their withdrawal request. This process might differ slightly depending on the withdrawal method chosen.
For instance, if you are cashing out via PaySafe, you must feed in the e-mail connected to your PaySafeCard account. But, if you are using AstroPay, you will be asked to enter the registered phone number during the process.
Similarly, if you are using Apple Pay, you would have to verify the transactions using Face ID, Touch ID or a passcode.
Waiting for the Request to Be Processed
Once the online casino receives your withdrawal request, it will take a certain amount of time to process the transaction.
Do note that there are certain circumstances where your funds won't be paid out. Expect your funds to be released only if…
- You are not a minor indulging in gambling.
- You are not operating more than one account with the casino.
- You are not using a VPN to access the casino.
- No other player has used your IP address.
- No other player is using your account to gamble.
- You haven’t abused the operator’s bonuses.
- You have wagered your initial deposit at least once.
- You deposited with a banking method registered in your name.
- You have requested a withdrawal to a banking method registered in your name.
- You are withdrawing funds to the right payment method (normally the one you deposited with).
- The account information you provided on registration is correct.
- No suspicious activity has been detected in your account.
- Necessary KYC documents, if requested, have been furnished.
Please note that the prerequisites for eligibility to withdraw funds differ slightly in UKGC casinos, which we have discussed in detail in another article.
Also read: Can an Online Casino Refuse to Cash You Out?
Receiving the Payment
Once the casino processes your withdrawal request, the funds will be sent to your chosen payment method.
The length of time to receive the funds can vary depending on the payment method you choose and is irrespective of how fast a casino processes your withdrawal request. E-wallets and instant banking options are the fastest ways to meet your money in the UK.
The above clarifies that the overall time taken for your funds to hit your account depends primarily on two factors:
- The speed at which a casino releases your funds (processing time).
- The speed at which the payment processor accepts the released funds and/or transfers them to your account (transaction time).
Whether fast paying or not, no online casino has any control over the transaction time of a payment processor. The only way they can impact the overall withdrawal speed is with their own processing time. This is also the crux of the difference between a fast withdrawal casino and a traditional casino.
Now, let’s discuss the two in detail.
About Fast Withdrawal Online Casinos
Fast withdrawal casinos are exactly what they sound like; they are online gambling platforms that allow players to quickly and easily withdraw their winnings. By ‘fast withdrawal casino,’ we mean online casinos with a maximum processing time of up to 24 hours.
Such casinos can be further categorized into two types:
- Instant withdrawal casinos that process withdrawal requests instantly or within seconds.
- Same-day payout casinos that process withdrawal requests within 1 hour to 24 hours.
About Traditional Online Casinos
We deem any online casino operating in the UK that takes longer than 24 hours to process withdrawal requests as ‘traditional'. Such casinos fail to meet the expectations of modern-day players who seek instant or same-day payouts.
Comparing Fast Withdrawal Casinos to Traditional Casinos
The table below compares and contrasts fast withdrawal casinos and traditional online casinos as well as highlights the pros and cons of each type:
|Factors||Fast Withdrawal Casinos||Traditional Online Casinos|
|Withdrawal processing time||Up to 24 hours||More than 24 hours|
|Speed of access to winnings||Fastest||Not as fast|
|Wait time||Minimal||Somewhat longer|
|Withdrawal limit per request||At the operator’s discretion||At the operator’s discretion|
|Payment methods||Fastpay options almost always available||Fastpay options may or may not be available|
|KYC||Before gambling and/or prior to withdrawal||Before gambling and/or prior to withdrawal|
|Withdrawal cancellation time||Limited (0 at UKGC casinos)||Substantial (Still, 0 at UKGC casinos)|
|Bankroll Management||Easier||Not as easy|
|Security of funds||Higher because of limited (or 0) cancellation time||May be lower because of the substantial cancellation time|
|Customer service||Likely to serve with a customer-first mindset||Not as likely, although it isn’t always a given|
|Bonus restriction||On certain payment methods||On certain payment methods|
|Potential for problem gambling||Higher because of quick access to winnings||Comparatively lower|
So, you see, even the fastest withdrawal casino is nearly akin to any other traditional casino except for the fact that it processes withdrawals more readily.
Of course, with this aspect come certain advantages, including swift access to your funds and a restricted window for cancelling withdrawal requests. These, in turn, bring in other advantages such as enhanced security of your funds and more efficient management of your bankroll.
Yet, with speed comes the potential for other troubles such as aggravated problem gambling. Sometimes, the gratification that comes with winning money and getting quick access to it is reason enough to risk more money.
Verdict: Fast Withdrawal Casinos or Traditional Casinos – Which is Better?
Whether you prefer playing at a fast withdrawal casino or a traditional online casino boils down to personal preferences and priorities. Typically, fast withdrawal casinos are better in terms of speed of payout and bankroll management.
But, as already discussed, a potential downside could be the heightened chances of gambling addiction. That's why it's important to only play at fast withdrawal casinos that are licensed by the UKGC.
The Gambling Commission has been proactive in attempting to keep gambling issues at bay by imposing various rules that their licensed online casinos must follow. For instance, mandatory participation in GamStop – the voluntary self-exclusion program for players.
It also requires casinos to check the source of a player’s funds to ensure that they’re gambling within their limits and equip players with tools that help them play responsibly. You can set reality checks on your account and during a gambling session, time and money spent in a game must be visible.
These are just some of the many protective measures taken that make casinos licensed by the UKGC the best choice for ensuring a safe and trustworthy gambling experience.
If you’re looking for UKGC casino sites with the fastest withdrawal speeds, check out our list of recommended operators. We have objectively reviewed each casino and pointed out the pros and cons to help you decide better.