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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 Withdrawal Methods: What options are available for the offshore US-friendly poker rooms?
- International Withdrawal Methods: More withdrawal options are available internationally – this section covers the main types.
- Why Bitcoin Cash Outs are Super-Fast: For US poker fans, Bitcoin (and other cryptocurrencies) are the speediest method of getting your cash.
- Check Cash-Outs: This is the main alternative for US players, though not always very quick.
- Money Transfer / Wires in the US: Pros and cons of withdrawing via transfers and wires.
- Credit / Debit Card Withdrawals: Internationally, this is a common withdrawal method – though it does not work for every card type.
- eWallet Options: This section includes PayPal, Skrill, Neteller and other electronic wallets.
- Local Bank Transfers: A withdrawal method of choice in many countries.
- How to Speed Up Withdrawals: Information on the ‘KYC’ (know your customer) rules, and how you can speed up withdrawals.
- Red Flags for Payment Issues: What to look for before you deposit, to ensure that you’ll get your money in a timely manner.
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Online Poker Sites with Fast Cashouts, Reviewed by Our Experts Withdrawals, also known as payouts or cashouts, are the processes that let you take money from your online poker site player account. Taking the real world poker elements of thrill, challenge, character, and rewards to online space, the democratization of the game is making it possible for millions of people earn money.
- Of course, if you want to earn money playing poker online, it’s important that you manage to find the type of game that works for you, along with the frequency at which you play. There’s no point playing for 15 hours a day if it means that you neglect your health and social life – and if you’re not winning, it’s all in vain.
- Whether your aim is to play full-time, or just as a side-line to top up your monthly wages, playing poker online is an excellent way to make money! Although there are still many people out there who simply see it as another form of ‘gambling’, unlike other games poker actually rewards very well those who can master even just a few of its many skills.
- A Poker Pro tells you how much money you can make playing online poker in 2020, what your expectations are and how online poker has changed.
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What Cash Out Options Are Available for US Players?
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.
Canadian players also face bank restrictions. These are due to Canadian banks looking to comply with the US laws – as poker is legal in Canada.
Poker Cash Out Options for International Players
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.
Why Bitcoin is the Fastest and Easiest Cash Out Method for US-Based Players
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:
- Register your poker site account first, most will have instructions for depositing, which include any site-specific requirements.
- Get a Bitcoin (or alternative crypto) wallet, there are many big services like Coinbase offering these.
- Buy Bitcoin at an exchange, your coins will be with you as soon as your payment is cleared, and the fees are tiny.
- No need to hold Bitcoin for long, go into your wallet, add the ‘receiver id’ you got from your poker site, plus the amount to send (either in BTC or dollars) and send.
- Unless you are playing at a dedicated Bitcoin only site, your balance will be transferred into dollars, which you will use to play as usual.
- When it is time to cash out, get a receiver id from your own wallet, and give this to your site – along with the amount you want to withdraw.
- You the go back to your exchange and switch your Bitcoin to dollars.
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 2020!
Check Cash Outs for US Players: Reliable and Slow
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.
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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.
Money Transfer / Bank Wire Cash Outs for US Poker Sites
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.
eWallet Cash Outs from International Poker Sites
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.
Local Bank Transfer Options for International Players
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.
How to Ensure Your Poker Cash Out is not Delayed?
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.
Fastest Paying Options for US Players vs. International Players?
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.
- Bitcoin / Alt-Coins: 48 Hours+
- Check: 5 Days+ (depends on when sites issue payment runs)
- Money Transfer / Wires: 7 to 10 Days
International sites have more ‘quick’ cash out methods. The times below are averages based on the assumption you have been through their KYC checks.
- eWallets: 48 Hours+
- Local Bank Transfer / Cards: 3 to 5 Days
- International Wires (larger amounts via IBAN): 5 to 7 Days
Red Flags for Payment Issues
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!