The new Cash Card developed by online bookie Sportsbet.com.au, in tandem with payment solutions provider Emerchants, has been a major hit, with thousands of punters having applied and received their new physical card. The card allows customers to instantly access and withdraw winnings from their Sportsbet account, from any ATM machine across Australia, instead of waiting the customary 1-2 working days for banks to process withdrawals.

Sportsbet customers can do the following with their new cash card:

• Withdraw winnings as cash instantly from any ATM across the country.
• Use the card to pay for everyday items using EFTPOS.

“Our 1.8 million customers love the superior value for money and better range of betting markets they get from Sportsbet, but many of them still love the feel of real cash in their hand; now they can have the best of both worlds,” Sportsbet CEO Cormac Barry said.

“Sportsbet customers can transfer winnings onto their Sportsbet Cash card via our mobile and tablet betting apps, and not just via desktop.”

Emerchants and Ladbrokes also signed a deal early in 2014 to offer a similar card.

How the Sportsbet Cash Card works

Current members simply need to log in to their existing accounts and click on the Sportsbet Card under the ‘My Account' section. In order to apply for the card, the customer's ID must be verified, he or she must be an Australian resident, and his or her address details must be correct.

If you aren't a Sportsbet member yet, register an account here and get up to $501 in a free matched bet.

After successfully applying, the card should arrive within 7-10 business days. It will be inactive, so log in to the Sportsbet website and follow these steps:

• Visit the ‘My Account' section.
• Select Sportsbet Cash.
• Enter the nine-digit card activation code.

You will then receive a four-digit pin which you need to store safely. This pin code will be required to withdraw winnings an purchase items. Easily transfer your winnings on to your card by again heading to the ‘My Account' section and clicking ‘Withdraw winnings to Card', and funds will move to the card instantaneously.

The card is a fantastic progression in interactive gambling, allowing punters to gain access to their winnings immediately – a very appealing factor when it comes to online betting. This new technology allows for further advances in online sports wagering, and we look forward to future innovations like this one.