The online gambling industry is booming, driven by the rise of digital poker, online casinos and fantasy sports betting, making it crucial for operators to enhance the user experience to retain players. A key area for improvement is the payout process, as traditional withdrawal systems are often slow and frustrating, driving players to competitors.
As more gambling platforms adopt real-time disbursement technology, a PYMNTS Intelligence report, “Sure Bet: Accelerating Gambling Payouts Makes Everyone a Winner,” in collaboration with Ingo Payments, explores why faster and more reliable payouts can elevate player satisfaction and loyalty.
Slow Payouts Are Issue for Gamblers
Despite the popularity of online gambling, players continue to complain about slow payouts. Nearly 2,400 complaints have been filed against top sportsbooks like DraftKings, FanDuel and BetMGM, with delays of days or even weeks causing frustration. While some delays are attributed to fraud checks or compliance, these extended wait times hurt user experience and trust.
According to the report, 79% of gamblers prefer instant payouts and 76% of those without access to them would choose them, if available. Only 49% of players, however, have access to instant disbursements, highlighting a gap between expectations and reality compared to physical casinos.
Instant Payouts Boost Loyalty
Real-time payouts offer advantages for online gambling operators, despite the initial investment required. Instant payouts not only streamline operations and reduce costs, but they also boost customer satisfaction and engagement. According to the report, players who receive their winnings instantly are more likely to reinvest those funds in further bets, creating a cycle of continued play and fostering loyalty.
For example, Caesars Sportsbook partnered with Ingo Payments in 2022 to implement instant payouts, which has been well-received by players. Drew Edwards, CEO of Ingo Payments, noted that players who receive instant payouts tend to keep their funds on the platform for future bets, rather than taking them elsewhere.
According to the report, 18% of players would abandon an app if it didn’t support their preferred payment method, and with 39% of gamblers playing monthly and 23% weekly, losing even a small portion of players can have a financial impact.
Partnerships Accelerate Instant Payment Adoption
Implementing instant payouts can be a complex and costly task for online gambling operators, which is why many are turning to third-party payment providers for support. Companies like Pavilion Payments and Trustly offer integrated solutions that enable casinos and sportsbooks to provide real-time disbursements without the need for extensive internal development.
For example, ClutchBet partnered with Pavilion Payments to integrate options like FedNow® Service and same-day ACH transfers, resulting in over 3.5 million registered players.
Similarly, Station Casinos partnered with Trustly to accelerate payments for its NFT loyalty marketplace, enabling faster transactions for players buying and selling digital assets. This use of real-time payment solutions in both traditional gambling and newer platforms like NFT marketplaces underscores the growing importance of instant payouts in staying competitive.
The demand for instant payouts in online gambling is undeniable, with 79% of players preferring faster access to their winnings. Operators who fail to meet this demand risk losing customers to competitors.
