Cash out your winnings at an ATM thanks to PayNearMe
Withdrawal times will be reduced for online sports and casino gamblers in the near future because of a faster withdrawal process. Online gamblers and sports bettors will soon be able to cash out their profits in a more convenient manner. PayNearMe, a financial services company, has introduced a whole new method of payment.
Igaming-specific payment service provider PayNearMe is a specialist in this field. They’ve partnered with Pin4, a financial technology organization. Pin4 is a cardless cash network with which cash money can be collected.
The announcement was made during the SBC Summit North America in Secaucus, New Jersey, last week. This agreement (starting from 2022) will make it significantly easier for players to access their winnings on their accounts. The 18,000 ATMs in the United States, for example, will allow online casino players to withdraw their winnings.
Issues with payouts
To the best of our knowledge, every state with legalized online gambling has a PayNearMe network in place (17 in total). As a result, they are also in touch with the top 10 major bookmakers and online gambling sites, including Caesars Sportsbook and Fanduel.
A common complaint among internet gamblers led to the formation of this partnership. That is receiving their winnings when they request a payout (read more about payments). A solution such as the one now proposed by PayNearMe could be a solution for many players.
We all know how essential payouts are to igaming, we’ve seen plenty of cases where they’ve gone horribly wrong. We’re hopeful that these partnerships will help us tackle this problem, and we’ll keep looking for new methods to help players and operators simultaneously.”
PayNearMe’s General Manager, Michael Kaplan
There are more than 31,000 retail locations in the United States where gamblers can use their winnings to pay for purchases. Players are restricted to withdrawing no more than $500 per day, and this is the only restriction.
How exactly does it work?
- Schedule transaction from PayNearMe account
- Specify the desired amount and enter phone number
- You will receive an SMS with 4 digit code
- Enter phone number at ATM in combination with code
- Withdraw profit
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