Fast Payout Casinos
There are few things more frustrating than hitting a big win at a casino only to be left waiting several days or weeks before you get your hands on the money. Or even worse, only to find out they have minuscule withdrawal limits that leave you having to accept a series of payouts over an even longer period.
At fastpaycasinos.co.uk we test and rank online casinos to make sure that if you win, you’ll get paid out lickety-split. We also guide players on best practices for how to speed up the process and which casinos they should avoid.
And that’s where PayPal comes in. We thoroughly recommend PayPal as one of the top payment methods for quick deposits and withdrawals as it offers one of the fastest turnaround times possible whilst still making your deposit eligible for bonuses. More on this later, but first, a list of our favourite PayPal casinos.
Best PayPal Casinos in the UK
Why is PayPal the Best Casino Payment Method?
There are a few reasons why PayPal is one of the best ways of depositing and withdrawing at an online casino, the first is the speed. Deposits are normally immediate, and withdrawals generally happen as quickly as the casino can process them – this could be as little as 4 hours depending on the site and how busy they are.
Compare this to debit cards which take 1-2 business days on top of the processing time and you’ll soon see why PayPal is a bit of a no brainer when it comes to fast withdrawals.
Visa Fast Withdrawals – There is a new form of debit card withdrawal that is much faster and can be completed just as quickly as PayPal, however it is limited to specific Visa cards from a limited number of banks making it not a great general recommendation. It is still worth investigating out if your card is eligible.
What About Other Ewallets?
It is true that the same could be said for a variety of other ewallets such as Neteller and Skrill, but one major advantage that PayPal has over the others is that it is often still eligible for the welcome bonus at the casino.
In a strange quirk of online gaming – and one likely relating to minimising fraud or bonus hunting – many sites no longer allow ewallet deposits to trigger their sign up offer, however when this is the case they often still permit you to use PayPal. And whilst some casinos only allow Debit Cards for their offers, plenty of them are PayPal-friendly.
How Quickly Will an Online Casino Pay Out?
There are two parts to any withdrawal that determine how long it is going to take. The first is the processing speed of the casino and the second is how long it takes the money to reach you via your chosen payment method.
Generally speaking the speed of the processing on the casino’s side should be very similar regardless of which method you use. So if you see a processing time of four hours for PayPal, then that’s probably around how long it takes for their system to approve the withdrawal for a debit card, it just takes a lot longer to reach your account.
Processing times vary between casinos, and this is why you can see such drastic differences in payout times for different sites. Some casinos will get your withdrawal approved and en route in a few hours, whilst others might take a couple of days. That’s where choosing the right casino makes a bit difference.
Below you can see the projected withdrawal times from five UK licensed casinos:
|Casino||PayPal||Debit Card||Bank Transfer|
|A||4 to 24 Hours||2 to 5 Working Days||1 to 5 Working Days|
|B||Within 8 Hours||1 to 3 Working Days||2 to 4 Working Days|
|C||Within 24 Hours||1 to 5 Working Days||1 to 5 Working Days|
|D||Within 24 Hours||2 to 5 Working Days||1 Working Day|
|E||Within 12 Hours||1 to 5 Working Days||3 to 5 Working Days|
Thankfully reverse withdrawals have been banned by the UKGC, meaning that it is no longer legal for a casino to offer you the opportunity to reverse a withdrawal once it has been requested. This is a great development for multiple reasons:
- Problem Gambling – It is an unfortunate reality that some people do have problems with gambling addiction (for those people, please seek help) and the ability to cancel a withdrawal request has been shown to exacerbate this issue.
- Faster Withdrawals – Previously some casinos used to intentionally slow down the withdrawal speed to give you the opportunity to cancel or reverse the withdrawal, with some sites even offering bonuses and promotions if you did. This used to be known as a ‘pending’ period, literally meaning that your withdrawal was sitting waiting just on the off chance you wanted to reverse it.
Verification & ID
By law, licensed casinos have to perform various checks on your identity, largely for money laundering purposes. Often with the larger sites you won’t even realise it has happened because they simply perform a soft credit check – meaning that they’re allowed to run your details against a credit database to ensure that you are who you say you are, but without leaving any kind of footprint that could affect your credit rating.
Other sites, or when you have deposited or withdrawn over a certain limit, may request identification documents from you. This process is known as a KYC check – or Know Your Customer – and is a legal requirement in the UK.
What Do You Need to Provide?
If requested, you’ll normally be required to submit a digital copy of one form of photographic ID such as a driving license or passport along with proof of address such as a utility bill or bank statement.
How Does it Affect Payout Times?
It’s pretty easy to see how performing KYC checks will slow your withdrawal down as the payout cannot be processed until you have been cleared by the casinos security team. This can be a relatively quick and painless process but if additional documents are requested or the site is particularly busy (such as a bookmaker around the Grand National) then it can drag on a little.
To ensure that your withdrawals aren’t affected you can normally voluntarily provide this information to the casino and ask to be verified before you start playing. Especially if you’re planning on making larger deposits that could result in bigger payouts.
The KYC checks only normally need to happen once, meaning that once you’re verified you shouldn’t have any further delays.
Source of Wealth Checks
In addition to the KYC checks if you’re making large deposits you may also be required to respond to a Source of Wealth check. Again this is a legal requirement of the casino and is a little more in depth than a simple ID check. Here they will require proof of the origin of the funds you are playing with (and again this all stems back to money laundering regulations) which could involve showing copies of pay slips or investments, depending on where you say the money has originated.
Maximum Withdrawal Limits
Another thing to check when selecting an online casino to play at are the withdrawal limits as this is another tactic that less scrupulous sites can use to slow down your payout speed. Whilst for many people the kind of withdrawal limits you see at reputable casinos should be more than sufficient, unless you have a particularly large win, some smaller sites or shoddier white labels (neither of which you’ll see recommended on this website) have very small withdrawal limits – even as low as £500.
Whilst this doesn’t affect your ability to eventually get your hands on the winnings, it does slow it down significantly. For example, if you were trying to make a £10,000 withdrawal and the casino imposed a £500 daily limit then this means it would take 20 days of withdrawal requests before you managed to complete the transaction.