If you have an account at Betway or planning to create one, especially with the help of a Betway sign up code, you must learn about Betway withdrawal process and timeline. It is one of the most important facets of a betting site.
How to Withdraw the Betway Bonus?
Betway is one of the most renowned sportsbooks in the world. It is among the most popular betting sites in multiple countries spread across the globe. Including Nigeria and many other African nations.
In keeping with its international reputation, the site offers some of the best bonuses that you can avail in Nigeria. They include a massive welcome bonus designed for new users who can get it only once after Betway registration.
The welcome bonus promises to give you a 100% bonus against your first deposit up to ₦100,000. It is given out in the form of free bets that you can use on eligible bets.
While a Betway bonus code is not mandatory to claim this bonus, there are other terms and conditions you must meet. There are minimum deposit and wagering requirements.
The wagering requirements are relevant in the context of Betway withdrawal. You can only withdraw the Betway bonus once you meet the wagering requirements. So, let us dig a little deeper into that.
You need to inject real money funds equivalent to 3x your first deposit amount. Then you need to use that to make bets with odds 3.00 or more. And you need to do this within 30 days of your first deposit.
Once you fulfil this requirement, your bonus funds are available for withdrawal. Then you can use one of the several available Betway withdrawal methods and get your bonus money.
Betway Withdrawal Rules
When it comes to Betway withdrawal, there are certain rules that you must follow. Otherwise, you run the risk of having your withdrawal request rejected by the sportsbook. So, in order to avoid a rejection, you must understand the basic rules and comply with them.
Though the rules listed below are not exhaustive, they are the main ones you should know about.
Rule 1 – Withdraw Only Using Accounts in Your Own Name
This is one of the strictest rules for withdrawal. And not just for Betway withdrawal but for all sportsbook withdrawals generally.
In most jurisdictions including Nigeria, sportsbooks have to comply with strict laws and regulations. Based on those, they can only process payments if the name on the Betway account matches the name on the payment method.
Therefore, you can only withdraw funds into accounts, cards, or wallets that are under your name.
That said, in some exceptional cases, you may be able to use other accounts. For instance, an account for which you have the power of attorney or another similar legal authorisation.
However, this is a method we would discourage for Betway registration, as the process can be quite complicated.
Rule 2 – Withdraw Using Accounts You Used for Deposits
In addition to using accounts that are in your own name, you should use accounts that you have already used for deposits. That is the recommended Betway withdrawal process for the most hassle-free and seamless transfers.
That does not mean you cannot add or use other payment methods later. But you need to make a deposit using the payment method first. Only then can you use that method for withdrawal purposes.
Furthermore, there is an additional condition if you have multiple payment methods that you use interchangeably. In that case, you may not be able to withdraw all your funds using one method alone.
Betway withdrawal request for each payment method needs to be proportionate to the number of funds deposited using them. Otherwise, your request may be rejected. This is a general requirement you will find in many other sportsbooks as well.
Rule 3 – Playthrough Requirements
Sportsbooks have often faced issues where many use the sites as a place to store their idle money. That is a big no-no at almost all sportsbooks including Betway Nigeria.
You cannot simply use the site to deposit and withdraw funds as you see fit without making bets. That is why the operator monitors the playthrough requirements.
There is no hard and fast rule regarding how much you have to play. But it has to be sufficient to demonstrate that you are using your account primarily for making bets.
If you deposit large sums of money and make a few bets or no bets at all, your withdrawal requests may not be approved.
How to Withdraw Money From a Betway in Nigeria?
Betway withdrawal methods include the most common methods currently being used in Nigeria. But the main methods that you may be able to use include debit/credit cards and bank accounts.
Follow the 4 steps below to make a withdrawal request at Betway:
- Login to your Betway account.
- Go to your profile/account information page.
- Find and select ‘withdraw funds’ button.
- Select your payment method, input the amount, and confirm.
Just make sure that your chosen payment method is the one you have used for a deposit already. And it is directly and easily traceable to you. Then the sportsbook will be able to promptly approve your request and make your funds available to you.
Betway Withdrawal Problems
Even though this operator has one of the most convenient and hassle-free withdrawal processes, you may encounter issues sometimes. There is no such thing as perfection in this world, as we all know.
Since it is our duty to inform you about common Betway withdrawal problems, we have described them in the list below.
Withdrawal Request May Be Rejected
The main difficulty you may face with withdrawals at Betway is that your withdrawal request may be rejected. That can happen for a number of reasons, as we explained in our Betway withdrawal rules section.
If you violate or simply fail to comply with one or more of the rules, your request may not be processed. So, make sure you read, understand, and follow all the withdrawal rules.
Additional Documents May Be Required
The second Betway withdrawal problem that you may face includes the hassle of providing additional documentation. This can happen through some act on your part or even through no fault of your own.
The sportsbook may find something suspicious with your account or activities. Then they can ask for additional documentation. They have this right as per the general terms and conditions of the site.
Common evidentiary documents that you may have to provide include identification documents such as a driver’s license, passport, or national ID. Moreover, you may have to provide bank statements, pictures of your cards, and so on.
Technical Issues May Arise
Another major Betway withdrawal problem involves failures in technology, which can occur at any time.
There can be technical issues at the sportsbook’s end or your payment processor’s end. That can jeopardize the timely release and deposit of funds that you have withdrawn.
Though such occurrences are rare at Betway, they can and do happen from time to time. The only way out of such a problem is to contact the sportsbook’s customer service.
If the issue arises at your bank or payment processor’s end, you have to contact their customer support to get a fix.
Betway Withdrawal Time
Withdrawals are never as fast as deposits as there are so many checks and balances involved. That is something you will encounter at almost every sports betting site including Betway. But Betway withdrawal times tend to be as minimal as possible.
Subject to quick approval of your withdrawal request, the funds will be released to your chosen account. Then the funds will become available in your account based on the standard timeline that applies.
Generally speaking, the Betway withdrawal time takes a few business days after the withdrawal request approval. This is not necessarily specific to Betway. Visa/Mastercard cards and bank transfers tend to take this much time in general.
Betway Withdrawal FAQs
Find short answers to basic queries regarding withdrawals from Betway:
Yes, withdrawing funds from Betway is extremely easy and convenient. It is one of the best sites if you want the most convenient forms of payment.
You can login to your Betway account and use the ‘withdraw funds’ option to initiate the withdrawal process. You can choose from a large list of withdrawal methods depending on your preference.
The Betway minimum withdrawal, as well as maximum withdrawal, the amount depends on your chosen payment method. It may very well be the case that your withdrawal has to be paid out in installments over days or even longer periods.
The Betway withdrawal time depends on your chosen payment method. If you chose to credit/debit card or bank transfer, it may take a few days after your withdrawal request is approved.