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BetMGM Payment Methods & Withdrawal Times

Last Updated on 26/03/2024

BetMGM Withdrawal Times

betmgm withdrawalWhen looking to join a new sportsbook, one of the most critical components to look at is the payment options. These include deposit and withdrawal options. BetMGM withdrawal options can help you decide how you want to receive your winnings.

We’re taking a good look into all aspects of BetMGM payments when it comes to withdrawals to make sure you have the most updated information. This includes a look at BetMGM withdrawal time and options and some of the most frequently asked questions. Join us as we take a look at making a BetMGM withdrawal choice that’s best for you.

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BetMGM withdrawal time: What you need to know

When it comes to withdrawal options, sportsbooks offer different types, and there are several things most sportsbooks have in common when it comes to payment methods:

  • Most sportsbooks have fewer withdrawal options than deposit options available
  • Due to specific administrative requirements, the withdrawal process takes longer than the deposit process with most sportsbooks.

With BetMGM, all withdrawal requests have an internal review period that can take up to five business days. Once the internal review is approved, your funds are credited to the account you chose to use as your withdrawal method and will then be subject to this payment method’s processing time.

BetMGM withdrawal options & times

In comparison to other big names in the online sportsbook industry, BetMGM offers a fantastic variety of payment methods for withdrawals, including a BetMGM withdrawal to bank accounts. As mentioned above, your funds will undergo an internal review that can take up to five days and will then be transferred to the account you chose.

Below, we’ll go through some more important information about BetMGM withdrawal time by indicating each payment method’s transaction processing time.

Visa: 3-to-5-Day Withdrawal Time

BetMGM withdrawal options to bank accounts can be done using Visa. Your Visa withdrawal will be made using Visa Fast Funds, and you can use a Visa debit or prepaid card. The Visa payment processing time is 3-5 days.

PayPal: 24-Hour Withdrawal Time

PayPal is always a popular option, with it being an e-wallet and all. Using PayPal as your withdrawal method is one of the most efficient options, as you will receive your money within 24 hours of the BetMGM internal review period.

VIP Preferred: 3-to-7-Day Withdrawal Time

VIP Preferred is one of BetMGM’s preferred payment methods and a bank transfer method. If you’re going to use VIP Preferred, you can expect your funds to land between 3-7 business days.

Online Banking: 1-to-3-Day Withdrawal Time

Online banking is another convenient bank transfer method if you have a bank account linked to your BetMGM account Cashier section. The turnaround time is also not that long as you’ll be able to receive your funds within 1-3 days.

Instant Banking: 2-Day Withdrawal Time

Instant banking is also a bank transfer method that won’t have you waiting for too long. You’ll be able to access your funds in two business days.

Play+ Prepaid Card: 6-Hour Withdrawal Time

Play+ is another example of the preferred BetMGM withdrawal options, and you’ll like it too if you see how quick the turnaround time is. When using your Play+ prepaid card, you’ll only have to wait six hours for your funds to reflect in your account.

Cash at the casino cage: 72-Hour Withdrawal Time

You can make a withdrawal at the casino cage of a participating casino. An example of a land-based casino where you can make a withdrawal is the MGM Grand Detroit casino cage. You still have to visit the Cashier section on the BetMGM online platform to start the procedure by choosing the amount you want to withdraw and submitting the request. Your funds will be available within 72 hours. This option is only available in New Jersey, Michigan, and Mississippi.

Check by Mail: 7-to-20-Day Withdrawal Time

Only available to BetMGM customers in New Jersey, you can find the details in the cashier section of the BetMGM site. This withdrawal option also has the most extended waiting period of 7-20 business days.

How to Withdraw from BetMGM?

BetMGM withdrawals are pretty easy to submit, just be aware that there may be an extra 5-day waiting period for BetMGM's internal review process. Notably, BetMGM will only accept withdrawals via a payment method you have used to deposit in the last 6 months. It's also worth noting that withdrawing via instant bank transfer, PayPal, or BetMGM's VIP Preferred offer the fastest withdrawal times.

Take a look at our step-by-step withdrawal guide below:

  1. Go to "My Account", which you'll find in the top-right corner.
  2. Next, click on "My Balance".
  3. Select the "Withdrawal" tab and click on "Withdraw" again.
  4. Select your preferred withdrawal method.
  5. Enter or select the amount to withdraw.
  6. Click "Confirm" when prompted.
  7. BetMGM will start their internal review. This can take up to 5 days.
  8. Your money will arrive within the withdrawal waiting time.
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BetMGM Withdrawal Limits

BetMGM has a minimum deposit of $10 for all of its accepted payment methods, and in general, does not state withdrawal limits for every payment method. However, the table below summarises the payment methods that do have withdrawal limits:

Withdrawal MethodWithdrawal Limit
Online Banking$25,000
Check by Mail$50,000
Instant Bank Transfer$50,000

Common BetMGM withdrawal problems

If you like taking advantage of the latest BetMGM bonus bet or you’re into betting strategies like EV to get the most from your wagers, based on the mathematical systems, you’re using to calculate your best outcome, and you’ll be likely to use the withdrawal option more often, don’t you agree?

In this case, it’s essential to know why your funds are not reflecting, as you made some effort during the wagering process to earn your winnings.

These are specific situations BetMGM identifies on their platform as reasons why your withdrawal funds may not be showing in your chosen account:

  • The customer did not meet wagering criteria or a BetMGM promo code was entered incorrectly.
  • The withdrawal is still in processing. Keep in mind that the time this takes depends on the withdrawal option you chose in the Cashier section.
  • Multiple withdrawal requests may have merged into one if a previous withdrawal has not been through the entire BetMGM internal review process yet.
  • BetMGM reserves the right to process withdrawals back to the source payment method used to make your deposit before it allows other withdrawal options.
  • Until the withdrawal is approved and dispatched, you may reverse or change your withdrawal request, which may require more reviewing time.

If BetMGM admin has experienced an issue with your withdrawal request, they will make contact by sending an email, so ensure that your details on the site are always updated.

If you have not received any emails from us and you’ve been waiting longer than indicated on this guide, you can contact BetMGM via live chat or email on the platform.

The top five BetMGM withdrawal FAQs

What is BetMGM’s internal withdrawal procedure?

After you submit the withdrawal request, it is reviewed by BetMGM’s internal review team and must be approved by them before we distribute any funds. The internal review process can take up to 5 business days. After the review is completed, the payment is forwarded to the payment method of choice.

Is it possible to make an offline withdrawal?

Yes, it is possible in certain US states where BetMGM is legally operating. These states are New Jersey, Mississippi, and Michigan. You can withdraw offline at the Casino Cashier. Your withdrawal request procedure still starts online by visiting the Cashier page.

To collect your funds, you’ll need to show the system-generated voucher number you received. You’ll also need to provide a government-issued photo ID like your driver's license and be able to verbally provide the last four digits of your SSN.

Can I change or cancel my withdrawal after I’ve made it?

You can edit or cancel your withdrawal; however, it depends on the withdrawal processing status. You can make changes up until the final approval and dispatch of the funds. It’s really easy to do, too. You just need to navigate to the Cashier page, opt for Deposit, and enter the amount you want to reverse on a pending withdrawal.

How do I see the status of my withdrawal request?

If you want to know what your BetMGM withdrawal options status is, you can check the Payment History section on the BetMGM Cashier page to see if your withdrawal has been processed.

Is there a BetMGM withdrawal limit?

There is a BetMBM deposit limit, but there is not a set withdrawal limit.

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Conclusion

If you’re the type of sports bettor that uses the withdrawal option more than most, it’s important to know the ins and outs of the BetMGM withdrawal options. BetMGM offers a fantastic variety of withdrawal options when compared to other sportsbooks. The withdrawal options and operator offers are usually way less than the deposit options.

There are enough options available to find one that is best for you and fits your needs, whether it be payment timing, using an intermediary, or just making sure your withdrawals are secure, which will be the case with all options. To find out more about BetMGM and to get important information, such as the latest sportsbook promo code to use, please check out our full review of the operator.

BetMGM withdrawal time FAQ

💳How many BetMGM withdrawal methods are there?

There are at least 8 BetMGM withdrawal options. When it comes to sportsbooks in general, a variety of withdrawal options is often lacking; however, BetMGM does not have this issue. It’s important to know your options, though. You can get details of all the withdrawal options in our BetMGM NY sportsbook review.

💲Can I withdraw funds from my BetMGM account using Skrill?

No, Skrill was an option in the past, but it is not currently accepted. BetMGM offers a variety of withdrawal options that include bank transfers types, e-wallets, and more. It’s important to offer variety to customers as everyone has their own preference when it comes to making a withdrawal

❓Are the deposit and withdrawal options at BetMGM the same?

No, almost all sportsbooks, offer more deposit methods than withdrawal options. There may be some of the same options, but they may not mirror each other.

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