How the Fintech Industry Revolutionised Transaction Speed

The fintech (financial technology) sector has dramatically revolutionised online payments’ efficiency, speed, and security.

Over the past five years, there has been a major shift in how people pay for things and send and receive money, and it’s all thanks to the fintech industry, mobile phone technology, Artificial Intelligence (AI) and super-fast internet speeds.

On this page, we will be taking a closer look at how it’s now possible for people to use certain online payment solutions at licensed real-money gambling sites to get near-instant withdrawals.

We will also reveal the names of some of today’s best new ‘Instant Withdrawal’ online sports betting casinos that process withdrawals in anywhere from as little as a second or two up to usually no longer than one hour.

What exactly is fintech?

The fintech industry is the integration of the financial services/payment processing industry with modern, state-of-the-art technology.

Businesses often labelled as fintech companies are online payment processing companies, online banking institutions, peer-to-peer payment services, and investment/portfolio managers and advisors. Examples include the following:

  • PayPal
  • Visa
  • Coinbase
  • Klarna
  • Adyen
  • Revolut
  • Skrill
  • Neteller
  • Paysafecard
  • Wise
  • Trustly

Fintech also includes the development and use of cryptocurrencies. There are now over 22,930 cryptocurrencies, with Bitcoin being the most well-known.

Others include Tron (TRX), Ethereum (ETC), Litecoin (LTC), Ripple (XRP), Solana (SOL), Bitcoin Cash (BCH), DogeCoin (DOGE), and Tether (USDT), to name a few.

These companies have helped revolutionise online payments, which is particularly important in the iGaming industry, which encompasses a wide range of licensed real-money gaming sites, including sports betting, casino, poker, bingo, and lottery sites.

Thanks to these fintech companies and their services, players can now deposit instantly and more securely than ever.

Are there any instant withdrawal casinos, and how do they work?

Players in certain parts of the world now have access to a new type of online casino called ‘instant withdrawal casinos.’ They are a modern phenomenon and are only available in certain countries, namely Estonia, Finland, Netherlands, and Sweden.

If you want to know how instant withdrawal casinos work, the best thing to do would be to visit the official Ask Gambles website.

This reputable online casino and sports betting information and review site has an entire page entitled: ‘Fastest Withdrawal Casinos,’ containing everything you need to know about these sites in greater detail.

A Swedish company called Trusty is one of the market-leading payment processing companies that facilitates instant withdrawals (and by instant, that means anywhere from just a few seconds/minutes up to usually no longer than 60 minutes).

This leading fintech company developed an innovative new gaming-focused product/service called Pay’ n Play. As well as Trustly/Pay N Play withdrawals, cryptocurrency withdrawals are also known for being instant (0 to one hour).

How long does it take for most online casinos to process withdrawals?

The average time it takes for most online casino payment processing departments to process a withdrawal can vary greatly.

Some of the things that can affect the amount of time it takes them to process your withdrawal are simple things like how busy the casino is (e.g., how many withdrawals the department is trying to handle) and what payment method you use to withdraw.

For example, Trustly and cryptocurrencies are known for being instant, whereas receiving your money by an old-fashioned bank check/cheque (that’s right, some players don’t mind receiving a check/cheque in the post within their winnings) can take up to TWO WEEKS!

However, in most cases, players usually only have to wait anywhere from just a few hours up to anywhere from 24 to 48 hours to get their hands on their winnings.

Credit and debit card withdrawals usually take two entire business days (48 hours at least) but can be as little as a few hours at some casinos.

Let’s just say that you start the credit/debit card withdrawal process on a Saturday evening after 6 PM. In this case, you may have to wait until Tuesday afternoon or Wednesday for your withdrawal to be processed.

With market-leading digital wallets like Apple Pay, Neteller, Skrill, PayPal, eZeeWallet, and Jeton, to name a few, most casinos will process your withdrawals in less than a few hours. You don’t normally have to wait days.

The other thing that can dramatically affect how long it takes to receive your winnings is the casino you are trying to withdraw from and the country/jurisdiction you are based in.

Take today’s best UK online casinos, for example. The ones that are licensed by top-tier licensing authorities such as the UK Gambling Commission and the Gibraltar Gambling Commissioner and controlled by some of the iGaming industry’s most trusted names usually ensure all players receive their winnings within a few hours.

However, when playing at rubber-stamp (bottom-tier) licensed casino sites that are not controlled by reputable operators, you could be waiting forever to get your rightful winnings.

Final note

If you want to read the latest reviews for instant withdrawal casinos, such as Videoslots Casino, The Rialto Casino, Lottomart Games Casino, Xtreme Win UK Casino, PowerUp Casino, or Kryptocasino, to name just a few, go to the official Ask Gamblers website today.

It also has the latest honest and unbiased reviews for over 4,000 other fully licensed online casino sites that are well-known for their above-average withdrawal times.