Legal Poker Sites Payouts
After playing a great game or a heated tournament, most poker players agree that the next best thing is collecting their winnings. Playing online is a little different than playing in a local club or casino in that you can’t walk up to the cashier and turn in your chips for cold hard cash. This being the case, there are many premier poker sites that make collecting your winnings easy, and safe.
Because of laws restricting the transfer of electronic funds overseas, legal poker sites cannot pay users out via their credit card, even if they used it to fund their account in the first place. While this is an unfortunate turn considering that for most US players their credit card is their most convenient way of processing money online, most online poker rooms will take great steps to rectify this. There are some sites that offer Bank Wire Transfer, Neteller, and other options that involve depositing your money into your bank account. All of these options are convenient and will see your money safely delivered to you. More information is below.
Check By Courier: By far the most popular payout method is the good old-fashioned check in the mail. One great reason is that the fees for paying out this way are minimal-to-nonexistent. Most sites offer one free payout per month, which the majority of members find sufficient. The sites will ask you to expect to wait up to two weeks, but most members receive their checks within a few days. This is the method we suggest for collecting your winnings. Before requesting a payout by check, ensure that you have the correct address in your account information, and make sure to provide a physical street address, as checks cannot be mailed to PO boxes.
Cash Wire Services: There are cash wire services such as MoneyGram and Western Union available on most sites as well. These methods arrive fast, but usually come with minimum cash out amounts and fees.
MoneyGram: Usually requires a minimum payout of $100, with a maximum of around $650-$1,000. Payouts using this method are charged a corresponding fee relating to how much you are receiving. The minimum fee is usually $20 for the first $200, and then rises by $10 or so for every extra $100.
Western Union: Works basically the same way as MoneyGram. Occasionally the minimum and maximum payout amounts are different, as are the fees. Cash wire payouts are one of the fastest payout methods, usually taking under a week, which is why many members like collecting their winnings this way. If you feel the fee is worth it, this is a great way to get the money into your hands fast.
eWallet: A relatively new payout method is by eWallet. This is much like Bitcoin and is akin to making a PayPal account and receiving transactions that way. Many sites don’t offer eWallet yet, but this method seems to be rising in popularity. With eWallet payouts you must have an eWallet account, and you need to have deposited money at least once using your eWallet. Accounts are credited within 48 hours of requesting a payout.
BitCoin: Those that have used BitCoin for other online purchases will delight in the fact that they can conduct all their online poker business with their BitCoin account. To receive payouts via BitCoin you must have deposited at least once with your BitCoin account. Payouts will be credited within 48 hours, making this one of the fastest payout methods. There is a minimum $20 payout amount, and a maximum of $2,000 per week.
Other methods such as Book to Book which transfers the money from your poker account into another one are the least popular, and have relatively high minimums and fees. Check the cashier pages on the websites to see what payout options they offer.
Most fees associated with payouts have a direct correlation to the speed of delivery. Checks by mail have the lowest fees, and are often free. Other payout methods such as BitCoin come with $20 minimums and are only available to players that have deposited via BitCoin. Some minimum fees rise by incrementally smaller amounts the higher your payout amount is, making payout methods such as Bank Wire Transfers more attractive for larger payout sums. Payouts were high on our list of criteria when reviewing poker sites, and we can assure you that every site that has been recommended has the best payout options out there and the lowest fees.
As mentioned above, there are minimums on many of the payout options, but there are also limits. For some sites with legal poker, the limit for a check payout is $3,000. So if you hit it big and decide to cash out your fresh $10,000 bankroll, you can expect a check to be sent out every week until they have met your amount. Cash Wire Transfers are usually the more attractive option when cashing out large sums, as the associated fee will be quite low compared to how much you’re receiving. eWallet and BitCoin limits are around $2,000, and you will just have to cash out incrementally to collect. Each site has different limits for different payout methods, these are just ballpark figures. Navigate to the cashier sections to see the payout limits for each method.
Don’t let the name fool you, SportsBetting.ag is one of the best poker sites around. Offering everything from Texas Hold’em to 7-Card hi/lo, you will be spoiled for options when exploring their cutting-edge poker rooms. They offer numerous payout options, each with their perks and drawbacks. For instance, they offer BitCoin payouts, but you must have deposited with you BitCoin account, and there is a $20 minimum and $2,000 maximum. They also offer the most popular check in the mail method as well.
Sign up for SportsBetting.ag now and you will be eligible for a 25% Welcome Bonus upon your first legal poker site deposit. This generous offer will give you bank account a little extra padding with which to explore all the site has to offer without putting a dent in your bankroll. There has never been a better time to join SportsBetting.ag!