One of the biggest thrills in sports betting is seeing your wager win, and see the winnings in your account. Its even just as exciting, or even more, to see it finally be credited in your bank account. Most sportsbooks have standard processing times for payouts. So as a bettor, you more or less know when you should be getting money. Getting delays in payouts, however, is one of the worst things a sportsbook can do. Our latest bookie guide to payouts will gloss over the basic payout options and the timeline for each option.

As a bookie, one of your responsibilities is to ensure that your players’ deposits get credited asap, and that they get their payouts as fast as possible. Using a bookie pay per head service can help you easily track your players’ activities, from deposits to wagers, winnings, and the like. It will help you easily see the numbers so you can act accordingly.

 

The Bookie Guide to Payouts

The Bookie Guide to PayoutsAs a bookie, you can choose which payment options you would want your players to use. You can also set up rules, such as cashing out on any option, or limiting cash out methods based on currency or cash in method. For example, if a player pays in cryptocurrency, you have the option of cashing out strictly in cash, or cryptocurrency only. Here are some of the most popular payment methods and the time frame for payouts that people who use online bookie software also use:

  • eWallets. eWallets are very popular because its fast, convenient and safe. Providers like PayPal gives people the ability to send money to anyone, anywhere, in real time, regardless of what bank you use, or payment method. Many bettors like using PayPal because its very easy to send money to others. Transfers also happen fast, usually taking up to two days to get to your bank. But for PayPal to PayPal transfers, it happens in real time.
  • Bank Wire. Wiring or transferring money is easy, and secure as well. The transfer times depend on the banks involved, and sometimes takes up to 7 days for certain transactions.
  • Cryptocurrency. Cryptocurrency works just like eWallets in a sense that transfers happen in real time. The hold up may be in converting the currency itself. If you are into cryptocurrency, then it will be easier. If not, there are other online service providers that offer conversion for a fee.
  • Check by Mail. Some bettors may not be comfortable with online transfers and would like a paper check that they can get by mail. If you will allow this option, just make sure you have your checkbook on standby.

Payouts and Terms

These payment options are common with most sportsbooks, and bettors will be familiar with these. You can also set rules and schedules for payouts. For instance, some sportsbooks accept payouts only during certain hours or days. Some also impose processing times for each method, so that they can ensure that there will be no delays on their end with sending money to their players.

Doing so will also allow you to organize your payout process as a bookie. It gives you more freedom to focus on improving your sportsbook business. Or, it will also give you more time to pursue other interests while still earning well, which is another good reason to become a bookie.

 

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