If two companies offer their services at the same high level, the fight for the client wins the one that will provide faster service. And when it comes to the online gambling industry, the speed of transactions is not just important - it is crucial.
One of the greatest flaws of usual online casinos is that they completely rely on third-party payment processors like PayPal, VISA, MasterCard, etc. It often leads to the situation when a deposit or withdrawal is delayed by the payment system, and the casino can do nothing to speed things up. That is where Bitcoin saves the day.
Cryptocurrency completely eliminates the need for third-party online payment processing services and allows crypto casinos to perform truly instant withdrawals. However, for one reason or another, not every crypto gambling website takes full advantage of such benefits that cryptocurrency provides. Thus, the cashout speed in different crypto casinos may be different, so the following classification can be outlined:
- Instant - a withdrawal that takes no longer than 5 minutes.
- Fast - a cashout executed in the range from 5 to 15 minutes.
- Decent - a withdrawal that fits in the timeframe of 15 to 40 minutes.
- A withdrawal that takes 40 minutes or more can be considered as a delayed one and is a reason for contacting the casino’s support.
Having tested the withdrawal process on dozens of websites we have shortlisted crypto casinos that provide the quickest cashout:
- slots from all of the popular providers
- "Stake Originals" section with 18 custom games
- 20 most popular coins accepted for deposit
- perfect crypto sportsbook
- now accepts several popular cryptos
- unique "Backpocket" reward system
- great promotions and loyalty club
- 1000+ games
- 11 cryptos and many usual currencies accepted
- thousands of casino games and sportsbetting
- more than 2000 games from top providers
- regular tournaments
- 12 cryptocurrencies accepted
- based on highly respected "bitcoin.com" domain
- many games including 6 exclusive ones
- anonymous and with simple registration
- awesome variety of promotions and bonuses
- thousands of games
- accepts BTC, ETH, BCH, LTC, DOGE and USDT
- 110% and 300 free spins on first deposit
- one of the oldest crypto casinos (founded in 2013)
- 6 cryptos and multiple regular online payment methods
- thousands of games (mostly slots)
- awesome dice-only provably fair crypto casino
- huge amount of bonuses and awards
- 19 cryptocurrencies accepted
- has an outstanding list of slot providers
- Bitcoin, Dogecoin, Ethereum, Bitcoin Cash and usual currencies
- awesome variety of promotions and bonuses
About withdrawal process in crypto casinos
Bitcoin and most cryptocurrencies are a decentralized type of money which means it can be transferred directly from the sender’s wallet (in our case, a crypto casino) to the wallet of the receiver (a player). Of course, different coins vary in terms of how quickly the transactions are performed within their network, with the good old Bitcoin being one of the slowest. Here is a selection of cryptocurrencies published on Statista that have the highest transaction speed, therefore providing instant or nearly instant payout when used for playing at crypto casinos as of 2022.
However, the withdrawal speed in crypto casinos often depends not only on the bandwidth of a particular cryptocurrency. There is also a number of internal factors that directly affect how quickly a crypto casino will process a player's withdrawal request.
Let's take a look at the list of the most common reasons why a crypto casino may delay withdrawals:
- Withdrawal amount. For safety reasons, the vast majority of crypto casinos keep most of their funds on cold storage (the offline type of crypto wallets). So if the withdrawal amount is significant and exceeds the casino’s available reserves, it may take some time until money is transferred to the active wallet.
- Security measures. There are situations when unscrupulous users try to cheat a casino. This can be either a banal violation of the terms of service or deliberate abuse of casino mechanics in order to get undeserved winnings. Thus, if the casino security department suspects any fraudulent activity on the part of the player, it may take time to investigate the case. In addition, if a player usually makes withdrawals from one IP address (yes, casinos track it), and then it changes, the casino may ask the user to confirm that withdrawal request by email to prevent possible account hacking.
- ID verification. For experienced online gamblers, it is no secret that many online casinos may ask for identity verification. This most often happens on the first withdrawal of funds, which becomes the reason for the processing delay. However, if in usual online casinos verification is a mandatory procedure for being able to cash out winnings, there are plenty of anonymous crypto casinos that provide a relatively higher level of player privacy.
Based on the foregoing, it is safe to say that new casino users have a higher chance of facing withdrawal delays than regular players.
Crypto casinos usually have some kind of “white list” where they add users who gained trust over time. While withdrawals in most cases get manually approved by the casino operator, the whitelisted player requests on some websites may process automatically. Therefore, if you visit crypto gambling websites quite often, it makes sense to stick to one or two favorite casinos.
It is important to know that if a casino applies withdrawal restrictions or delays that are not clearly indicated in the terms of the casino, the casino's management should directly inform the customer about the reasons. If that does not happen, the players have the right to address the support service of the website and demand an explanation. If the casino is legit and doesn't have shady motives, the management will clarify why the inconvenience took place and how to avoid it in the future.
The bottom line
With the advent of cryptocurrency, instant payouts have become the standard in the online gambling industry that all crypto casinos aspire to. However, often the withdrawal speed depends not only on the payment system, but also on how quickly the casino processes the request. That is why we have made a selection of crypto casinos that can provide their players with truly instant withdrawals.