When the gaming operator starts an online betting house, it is concerned with the design of the site, with the variety of sports and markets and strives to offer competitive odds. However, it often overlooks an extremely important factor: prize payments and withdrawals.
Of course, I didn't mean that operators don't care about that. It's obvious that your customers will be on your site because they're craving the prizes! However, it is very important to carry out payment and withdrawal services in an exemplary manner indeed.
This is the point where every user hopes to arrive, that is, the secret to keeping the customer on your site.
Think like a gambler: you placed your bets and won. The next step is to make sure that you can withdraw your winnings safely and in the shortest possible time.
It's not pleasant to wait a long time to access your profits, is it? Most players want to make sure the site they choose is secure and fast.
What determines the speed of payouts on a betting site?
There are several issues that can delay a withdrawal request at an online bookmaker.
The operation's internal resources are a very important factor. Who is responsible for processing withdrawal requests? Do these processes only occur on certain days and times?
A larger operation is more likely to have a more efficient payments process than a smaller operation.
However, it is not a rule that larger sites are necessarily faster with processing withdrawals. Be aware that some of the big sites on the market take a long time to process payments, although they have a dedicated team.
So if you have a small operation, you can also provide services that are very efficient in terms of payments.
The chosen payment method can certainly affect the time it takes for the customer to receive their winnings.
A bookmaker can be quite efficient in processing withdrawals, but if the customer chooses a method such as a bank transfer, they will possibly have to wait, as this process is slower by its nature.
On the other hand, payments made through digital wallets or through PIX are usually quite fast.
To facilitate and organize their processes, ensuring the security of operations, many sites implement certain restrictions on withdrawals.
These include minimum deposit amounts and wagering restrictions. Of course, all these requirements are listed in the “Terms and Conditions” of the site.
The problem is that most customers don't read them. Therefore, transparency regarding restrictions is a very important factor. In addition to such conditions appearing in fine print at the footer of the site, it is important that they are mentioned in some way when promoting bonuses and other benefits.
In this way, it is possible to avoid problems such as disappointed customers who manifest themselves on social networks, even without being right, and others. Transparency is a value that goes hand in hand with a positive perception of payments on a betting site.
The importance of quick payouts on prizes and withdrawals
If your operation processes all of your withdrawal requests and player payouts quickly, that's an excellent indication that your site is well organized and exudes credibility.
With a plethora of new betting sites looking to grow in the market and establish their authority, the effort to offer ever faster payouts is an extremely important objective for the establishment of the operation.
It is often necessary to carry out security checks to verify the identity of the player, which can cause delays in payments.
However, using robust verification systems, it is possible to complete the entire process, paying the customer in a maximum of 24 hours.
Some houses are able to offer instant payments, in a maximum of 10 minutes. This is certainly a very important differential for a betting site.
If you want to talk a lot more about this crucial topic for the success of your gaming site, please contact me. It will be a pleasure for us to talk about this and other fundamental points for the success of your betting site.
Natalia Nogues
Co-founder and CEO of Control+F5 Gaming
