Written by:
Damjan Jugovic Spajic
Fact checked by:
Alex Windsor
Updated:
January 3, 2024

BetMGM banking guide: How to withdraw your winnings

BetMGM Payouts

BetMGM firmly ranks as one of the best and most widespread online gambling operators in the US. The BetMGM sportsbook is available in 21 states (plus D.C. and Puerto Rico). Meanwhile, several states also get to enjoy its online casino, poker, and horse racing platforms.

BetMGM has earned the trust of US players thanks to its robust sports menu, deep market selection, high-quality casino games, great bonuses, and a renowned loyalty program, among other things. But what happens after winning at BetMGM? How do you empty your betting account, which BetMGM payment methods can you use, and are there any notable challenges?

BetMGM Withdrawal Options

BetMGM Withdrawal Options

US online sportsbooks and casinos generally follow a similar withdrawal process. BetMGM doesn’t deviate from the norm here and offers most of the same methods for submitting a withdrawal request as other established online platforms.

Following is a list of all BetMGM deposit and withdrawal options briefly described:

How to Make a BetMGM Withdrawal?

BetMGM How to Make a Withdrawal

BetMGM allows its customers to request withdrawals easily and without having to jump through any hoops. Even if you get stuck, helpful live chat support agents are always a few clicks away. Meanwhile, you can also find answers in the comprehensive help section.

To withdraw funds from your BetMGM account, just follow these steps:

  1. Log in to access your BetMGM account.
  2. Tap/click on your profile icon, go to the Cashier, and navigate to the Withdrawal tab.
  3. Pick the most suitable payment method.
  4. Input the amount you wish to withdraw along with other required payment details.
  5. Review your withdrawal request and hit the Submit button.

You will shortly receive a message saying that your withdrawal request has been sent. The internal review period is typically between three and five days, followed by funds transfer. How long you’ll wait for your winnings depends on your selected method.

BetMGM Sportsbook

4.6/5
  • Minimum deposit $10
  • Plenty of payment methods available
  • Well-designed Android & iOS app
  • In-Game wagering
  • Football live streaming is not available
  • Customer service contact has to go through FAQs
Up To $1,500 in Bonus Bets
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BetMGM Payout Times & Fees

You don’t have to worry about any additional charges when requesting withdrawals from BetMGM, regardless of the chosen payment method, because there are no fees. As for waiting times, they can be anywhere between several hours to a couple of weeks. Here are the estimated waiting times for all BetMGM payment methods following the internal review period.

💳Withdrawal method⏱️Estimated payout time
VisaWithin 24 hours
Mastercard1–3 business days
PayPalWithin 24 hours
VenmoWithin 24 hours
Apple Pay1–3 business days
VIP Preferred2–4 business days
Online banking2–4 business days
Instant banking2–4 business days
Play+ prepaid cardWithin 24 hours
Cash at cage (in AZ, DC, NJ, MI, MS, OH, MD, MA, and PR)Within 10–12 hours
Check by mail (only in NJ)7–21 business days

Reasons Why You Are Not Receiving Your Funds

You could experience some issues when attempting to withdraw funds from BetMGM. Payments can get delayed or rejected, but there’s usually a valid reason. Most of the time, the underlying cause is already clearly outlined in the operator’s payment terms and policies. The good news is that those issues are usually easy to resolve, so try not to worry.

In any case, here are a few factors that may cause a delayed BetMGM withdrawal.

Bonus Restrictions

If you’re attempting to withdraw winnings from your bonus, you must first meet the specific bonus terms. They can include things like wagering requirements, maximum withdrawal limits, or the use of bonus bets.

Closed Loop System

BetMGM may require you to withdraw through multiple payment methods due to the so-called “Closed Loop System.” As part of this process, a certain amount of your winnings must be returned to your original deposit method before you can withdraw using a preferred withdrawal service.

For instance, if you deposited $100 with your Mastercard and $70 with Venmo and you’ve won $200 in the meantime, you can only withdraw $100 back to Mastercard, and $70 back to Venmo before you can cash out the remaining $30 with a preferred method.

Documentation Issues

BetMGM may require certain documents before they allow you to request payments. If some of the provided information is invalid, your withdrawal request may be rejected until the issue is solved. You may also be denied payment if you request it through a withdrawal method that’s not in your name.

BetMGM Payout Requirements & Restrictions

Here are a few requirements and restrictions to consider when requesting withdrawals from BetMGM:

Final Thoughts

Requesting withdrawals at BetMGM is a breeze. There are plenty of methods you can use, the process is intuitive, the limits and waiting times are optimal, and there aren’t any unusual restrictions to worry about. If some issues do happen, you can always look for answers by contacting BetMGM’s helpful support team.

BetMGM Sportsbook

4.6/5
  • Minimum deposit $10
  • Plenty of payment methods available
  • Well-designed Android & iOS app
  • In-Game wagering
  • Football live streaming is not available
  • Customer service contact has to go through FAQs
Up To $1,500 in Bonus Bets
Play Now

FAQs

  • Does BetMGM actually pay out?
    Yes, BetMGM pays out. It is a legit online gambling platform that pays out its winning customers.
  • How long does it take for BetMGM to pay out?
    BetMGM will first review your withdrawal request in 3–5 days. Once approved, the money will be sent to your payment account. Visa, Venmo, PayPal, and Play+ are usually the quickest, with payments often processed within 24 hours.
  • How does BetMGM pay out?
    You can request a payout from BetMGM using a variety of methods, including debit and prepaid cards, e-wallets, electronic checks, bank transfers, and by physically withdrawing cash at selected BetMGM retail locations.
  • How hard is it to withdraw money from BetMGM?
    The process of withdrawing funds from BetMGM is quite easy. You just need to log in, go to the Withdrawal section, pick a method, fill out the details, and submit the request.
  • Can an online casino keep your winnings?
    If you’ve met the bonus conditions, provided proper documentation, and complied with everything stated on the platform's payment policy page, there should be no reason for BetMGM to keep your winnings.
AUTHOR
Damjan Jugovic Spajic

A soccer and eSports fan who always roots for the worst possible teams, Damjan is a resident writer and contributor at Minimum Deposit Betting Sites. With over 5 years of experience in the online casino and sports betting industry, he largely focuses on writing reviews and testing out bookmaker transaction processes.