Many punters enjoy online gambling and sports betting as a hobby. It’s a great way to make a little extra spending money while cheering on your favourite teams and having fun with your mates. However, there are also those punters who spend a significant amount of time and research to try and make a profit by wagering on websites such as the Betway casino and sportsbook.
Whether you’re a hobby-punter or a professional, there’s something that’ll always be important – the payout.
If you can’t get your money out of the Betway casino or sportsbook and into your bank account, then what’s the point? Unfortunately, payouts don’t always go smoothly, not even with an experienced bookie such as Betway.
That said, there are many ways that you can get help, and there are many steps that you can follow to try and prevent any payout issues. Let’s get started!
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Betway was founded in 2006 and is an international gambling company. It’s fully licenced in several countries, including Malta, Italy, Ireland, the UK, Belgium, Spain and Germany. It primarily caters to a European audience but also has sites oriented towards countries such as the United States and South Africa.
The bookie is a prominent sponsor of West Ham United FC. It also features a vast selection of sports and betting markets, catering to a wide variety of punters globally. It’s also accredited by eCOGRA and works with many third-party security and responsible gambling bodies. Betway goes the extra mile when it comes to the security and mental wellbeing of its players.
The Betway casino is also top of the line, featuring hundreds of slot games, table games and a Vegas section. There are few online bookies and casinos that measure up to the quality of service and range of games available on the Betway casino.
How Money is Transferred on Betway
If you’re wondering if the Betway sportsbook and casino will have a payment method that you can use, don’t worry. This bookie features several popular payment methods, thereby making it easy for most punters to find what they need. Of course, with recent regulatory changes, Betway no longer accepts credit cards. You can still use your debit cards, though.
Most deposit methods are instantaneous and are available in both the Betway casino and the sportsbook. We’re not too focused on deposits in this article, however. Instead, we’ve listed all of the withdrawal methods available below, how long it will take to get your payout as well as the applicable limits.
Please note that there are no options for transferring money between Betway accounts. Neither the Betway casino nor the sportsbook allows for transfers on the site itself.
With many different payment methods available, Betway certainly tries to cover all of its bases. Not all of these will be available in every country, however, so remember to check which ones you can use. Even so, no matter where you hail from, the Betway casino and sportsbook will have a payment method available that you can use to request a payout.
Most of the deposit methods are available for withdrawals, as well. Again, country and currency limitations apply, but there should still be ample choice available, no matter where you’re from.
We’ve covered the most widely available withdrawal options in our Betway Review, along with their limits and processing times. If you need to request a payout, then you can use any of the options listed below.
Requesting a Payout/Making a Withdrawal from Betway
The process to request a withdrawal from Betway is quite simple, which we’ve broken down into easy steps for you below. We’ve also included the verification requirements. It’s important to follow this step, or you won’t be able to request payouts at all.
- Step 1: Go to www.betway.com and log into your account. Go to “My Account”.
- Step 2: If you haven’t verified your identity yet, then you’ll need to do that. First, go to the document centre under your account tab. Subsequently, upload the required documents (passport, driver’s license, etc.). Alternatively, you can email Betway with the documents, although this might take longer.
- Step 3: Once you’ve verified your identity, you can now request a payout. Navigate to the “Withdraw Funds” option under your account tab.
- Step 4: Complete the withdrawal form. Usually, Betway prefers to pay out to the same payment provider that you used to make your deposits. However, if that’s not available, then you can select another payment option here.
- Step 5: Enter the amount you would like to withdraw and select “Proceed”. The process can take anything from 1 – 7 days, although Betway does try and process transactions within two days. If your money doesn’t reflect within two days, you can contact customer support to find out if there was an error during processing.
Important Factors to Consider When Requesting a Payout
The Betway casino and sportsbook make it relatively easy for punters to request withdrawals. That said, there are a few critical T’s & C’s that players should pay attention to before they request their withdrawals. If you want to avoid any issues, take note of the following:
Make sure that you’ve verified your identity before you try to make a withdrawal. Betway, along with all the licensed bookmakers, is required by law to verify the identities of its players. We’ve included verification in our steps above, but if you’re still unsure, contact customer support.
You’ll need to submit specific documents to verify your identity, and the process will take some time. If you want to avoid unnecessary waiting times, then we recommend that you start the verification process as soon as you join up. Alternatively, if you’re already a member of either the Betway casino or sportsbook, then we recommend that you verify as quickly as possible.
There are minimum withdrawal limits, depending on which payout method you’ve chosen. The lowest is $/€/£10, and if you try to withdraw less than this, your request will be denied.
Due to regulatory changes made by the UKGC in April 2020, punters can no longer use credit cards for deposits or withdrawals on the Betway casino or sportsbook. If you try to make a payout request to your credit card, it will be denied. Betway casino is also permitted to do credit checks on all cardholders.
Bonuses and free bets often come with strict terms and conditions. For example, you can’t withdraw a free bet immediately. You’ll need to wager it and, if you win, your winnings minus the free bet stake will be paid into your account. That will be the money that you can withdraw.
The Betway bonuses have similar rules. All winnings and bonus amounts are subject to wagering requirements. If you try to request a payout before you’ve met these requirements, then you’ll not only be denied, but you may also lose your bonus and all related winnings.
The bookie usually tries to process all transactions within three days, but keep in mind that sometimes it can take up to seven days. If you think that there might have been an error with your transaction, then you can contact customer support and ask for help.
How to Cancel Payouts
Before April 2020, Betway allowed its clients to cancel their payout requests. However, this is no longer allowed. The United Kingdom Gambling Commission has changed its regulations regarding responsible gambling. As a result, there are a few more restrictions. For example, bookies are now prevented from accepting payments via credit cards.
Betway has always been dedicated to responsible gambling; so, with the UKGC’s new requirements, will not allow punters to cancel their withdrawal requests any longer.
Special Cases and Terms
We highly recommend reading Betway’s terms and conditions thoroughly. There are strict rules that apply to various cases, including free bets and bonus withdrawals, credit, financial institutions, etc.
For example, you can no longer make withdrawals via credit, where this used to be possible. You also can’t request payouts to a different Betway account either or make transfers between accounts.
If you think that you might have a special case on your hands, then contact Betway’s customer support for extra help.
Frequently Asked Questions
We’ve listed some of the most common frequently asked questions below. If you’re still unclear about anything, we’d also recommend talking to Betway’s customer support and reading the terms and conditions listed on the website.
How long can Betway Payout transfers take?
It usually depends on which method you use to request your withdrawal. That said, Betway does try to fulfil payout requests within two days, but you might have to wait up to seven days before you receive your money. You can contact customer support to try and speed up the process, but we recommend only doing that if you suspect that something has gone wrong with the transaction.
What can I do to speed up my Betway withdrawal?
If your transaction hasn’t been processed within two days, then you can contact customer support. You can do that via live chat, or by emailing [email protected] You can also call +44 207 062 5466, but only between 8:00 and 00:00, Monday to Sunday.
Should I verify my Betway account before requesting a payout?
Yes! This is a mandatory term of all licensed betting platforms.
When do I need to contact Betway’s customer support?
If your request for withdrawal hasn’t been processed within two days, you can contact customer support. There are also times when a technical error can interfere with the process. For instance, you can get an error message while requesting a payout. Betway’s help section actively encourages you to contact its customer support team for help should this happen. Above all, if you suspect any fraudulent activity on your account, then contact the support team immediately.
Betway doesn’t want to make a payout. Why?
Betway does have specific terms and conditions that stipulate when it must make payouts, and when it can refuse to do so. One of the main reasons why Betway may refuse a payout is because your account isn’t verified. The UKGC licenses this bookie, and it’s subject to stringent regulations. One of these is that all clients must verify their identities before they can make withdrawals. If you haven’t done that yet, try that first. If you request a payout of less than $/€/£10, it will be refused. The bookie will also reject a withdrawal if it’s a bonus balance or free bet where the requirements have not been met. Finally, if the bookie suspects any suspicious or fraudulent activity on your account, it may also refuse any transactions. This includes sharp betting behaviour, for example.
Like many other bookmakers, Betway tries to make it easy for its punters to request payouts and make withdrawals. One of the ways it does so is by offering several different withdrawal methods. Whatever your preferred withdrawal methods are, Betway should have you covered.
What stands out is the high payout limits. Although Betway also has low withdrawal limits, they’re not the lowest we’ve encountered. The withdrawal limits are relatively high.
The biggest downside of requesting a payout from Betway is the time it takes. Unfortunately, the bookie has a disclaimer that states that any withdrawal can take up to seven days. It does try for 1 – 2 days, but it can take longer. This is a long time to wait for your hard-earned winnings. It also seems to be one of the more common topics that come up in player reviews.
That said, Betway has made great strides in improving its payout system, and customer service is usually quite happy to help. If you’re worried about receiving your money, don’t. Although the bookmaker does have legitimate reasons to refuse to pay out, most punters can expect to receive their money quickly and without a fuss.