How to Withdraw Money from Betway

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Published: Feb 28, 2021 - Last Updated: Feb 29, 2024

Betway has a generally simple-to-follow policy when it comes to withdrawing your money. As a rule of thumb, the withdrawn funds will be paid back with the same method as that with which you have made your last deposit into your Betway account.

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Before you withdraw, you will need to verify your identity with Betway. This means providing the company with some official ID (such as a Passport, Driver’s Licence, Utility Bill etc.) to confirm you are who you say you are.

Once verified, your withdrawals can be returned to your last deposit method. This is the case whether you use differing deposit methods for different deposits. So, for example, if you make your first deposit using your PayPal account and then make a second deposit using a Visa Debit card, your withdrawn funds will go to your Visa Debit Card as it was the most recent payment method.

Once the withdrawal is accepted, it will be processed, and the time that it takes depends on which withdrawal method you have used.

Payment services like Skrill, Neteller and PayPal are common deposit options for people who prefer using eWallet services. When you use one to make a deposit, it will then be used to make a withdrawal (provided you don’t deposit using another source of funds in the meantime). eWallet services are the quickest way for users to receive funds, with transfers taking between 2 and 24 hours to complete.

Debit cards are another common way to withdraw winnings from your Betway account. Debit card withdrawals take around two days to receive on average, although the site offers VISA Direct transactions, allowing debit card withdrawals within 12 hours.

Lastly, the popular bank transfer option is an option to withdraw your winnings from your Betway account. Some other digital transfer options are supported, too, and bank wires can also be used, but they have a minimum withdrawal limit of $25 and can take between two to ten days to be processed.

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Frequently Asked Questions

After initiating your first withdrawal, Betway will contact you to verify your identity. These checks are a part of Betway’s top-level security features. They might ask for copies of certain types of official identification for verification, such as a driving licence or passport. These checks may also occur on substantial withdrawals or after switching to a different withdrawal method.

All withdrawals are completed using the same method you most recently deposited with. If you do not wish to use the most recent that you deposited with for a withdrawal, then you will need to contact customer services before you try to make the withdrawal.

The amount of time it takes to receive your funds from Betway will vary depending on which withdrawal method you have used. Some methods are considerably faster than others with the likes of eWallet withdrawals, debit card withdrawals and bank transfers typically taking between 2 and 48 hours. Other withdrawal methods can take considerably longer.

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Betway states that there is a a 10 GBP/EUR/USD/CAD minimum when you withdraw money from your Betway account. There is no maximum withdrawal limit at Betway, but unusually large payouts may be checked by the security team. In some cases, you may be asked for further information to verify your identity to ensure that the transaction can be completed.

In order to withdraw winnings from your Betway account that were earned with a bonus, you’ll need to satisfy that bonus’ wagering requirement. Usually, the wagering requirement is the size of the bonus you received, plus the triggering deposit being wagered a set number of times (such as 2x the deposit + bonus). The exact wagering requirements can be easily found on the bonus’ promotional page.

Betway cash out allows you bettors to cancel open bets before they’ve finished, letting you cut your losses. Partial cash out allows you to retrieve only some of your wager, keeping the rest to continue the original bet. Both services give you greater control of your bet stakes and when you decide to withdraw winnings from your Betway account.

If you don’t want to use a bank transfer to receive your funds, then you can withdraw your Betway money into an e-wallet service such as PayPal. There are a number of similar payment options available that are accepted by Betway, although it should be noted that to open an account with one of these companies, you may need to provide bank details.

The great news is that you can easily withdraw money when using the Betway Mobile App in pretty much the exact same way as you would when using the website. Not only that, you can also sign up with Betway via the app very simply too, meaning that it is very easily to manage your account and place all your bets you want from any mobile device.

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Ian John

Since: August 10, 2015

Ian is a regular contributor to EsportsBets. Ian is well-versed in the world of esports betting and casino gaming and has written extensively on the online gambling industry. Ian brings fresh insight into all facets of gaming.

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