Sky Bet launches world’s first instant payout service

Sky Betting & Gaming (SB&G) have recently announced a new, world-first online payment method that will facilitate instant withdrawals from the platform into customers’ bank accounts.

Withdrawing cash from a machine

SB&G states that Fast Withdrawals will take a maximum of 2 days, but could take just seconds. © Thisismoney.

The platform is aptly named Fast Withdrawal and was first featured on SkyBet.com in October. The service is exclusive to SB&G, having been developed in-house. With Fast Withdrawal, SB&G claims that the once long-winded withdrawal process for punters to get their hands on their money has now been reduced to just a few seconds. The group promise that payments will be made within 2 hours, but payments can be almost instant.

The one downside is that the service is currently only available to customers that have a Barclays bank account. However, the Group plan to roll it out in collaboration with a number of other banks and also payment processors.

The current terms and conditions state that £200 per day can be withdrawn via Fast Withdrawal, but that this could change in the near future.

Speaking about the roll-out of Fast Withdrawal, SB&G’s head of payments, Andy Sacre, said:

We’re really pleased to deliver a service that allows customers to access winnings quickly and securely. It’s a first step in what we expect to be an exciting period ahead for us, with the likes of these new payments capabilities set to change the way we pay for products and services in the years to come.Andy Sacre, Head of payments at SB&G

A great end to a strong year for Sky Betting & Gaming

It’s not the first innovation in the payments area from SB&G, with the operator becoming the first to support Apple Pay as a payment option in recent months.

The group has had a very successful year and have grown in recent times to become one of the biggest and most well-known operators in the UK. In fact, Sky Bet recently announced a two-year plan to migrate its site into the cloud so it can manage the heavily increased amount of traffic it has been receiving.

This traffic has resulted in increased revenues too. Recently released fiscal reports for Q3 2017 showed a massive 38% revenue increase across all Sky Betting & Gaming operations. Revenues reached £374m for the year period up to Q3 2016, while earnings, customer numbers and amounts staked also increased significantly.

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