Betway online casino is one of the top sites that operate in Canada and across the world. The casino holds two licenses from the Malta Gaming Authority and the UK Gambling Commission that ensure players’ protection. But not many players know what the withdrawal process is like at Betway Casino. In this post, we will cover the topic of Betway withdrawal, so that when you sign up at the casino, you know what to expect.
How to Withdraw Money from Betway
Betway offers different gaming options. You can play casino games, table, and live games. But the most popular activity at Betway is sports betting. However, regardless of the game you prefer, you can win a lot of real money. As soon as you make progress and have the cash to withdraw, follow these steps:
- Head to the Bank in your Betway account.
- Select “Withdraw”.
- Choose a payment option that you want to use.
- Enter the amount of money.
- Confirm the request and wait.
The process itself is quite simple and fast. However, depending on the payment method you choose, the timeframe of payouts can vary. Plus, there will be a pending period.
Betway Pending Period
When you send a withdrawal request to the casino, your funds leave your account balance, but they aren’t transferred to your payment provider yet. Instead, they are held pending. This means you can cancel your withdrawal anytime. It’s great if you make a withdrawal by mistake or changed your mind. On the other hand, the pending period is time-consuming and can keep your money for as long as 72 hours.
During this period Betway’s team needs to verify your identity and check if there has been any suspicious activity in your account. They also check if you used bonuses right and completed all wagering requirements.
Only after the pending period, your request is sent to the financial department where all payouts are made. Here, the withdrawal speed depends on the payment method you’ve chosen. Some banking services can process payments for 5-7 days. So, you need to be patient.
Betway Withdrawal Methods
Betway offers a lot of options to deposit and withdraw with. You can use credit and debit cards powered by Visa, MasterCard. Or you can send money via Direct Bank Transfer. Though this method is the slowest, so we don’t recommend DBT.
As for other payment methods, you can use e-wallets MuchBetter, ecoPayz, PayPal, Neteller, Skrill. Besides, you can use Interac, iDebit, InstaDebit, EntroPay, and e-checks. Depending on your location, there may be other methods available for you to cash out. The full list of options can be found in the Bank section.
Before you can cash out from Betway, you need to verify your account. It is obligatory, especially if you use bank cards. So, get ready to provide the following documentation upon request:
- A copy of proof of identity such as passport or driver’s license.
- A copy of proof of address like a utility bill.
- Copies of your credit card or other proof of the payment method you are using.
- Other additional docs that can be requested.
The documents must be provided within 4 weeks after the team requested them. Otherwise, your balance and all winnings will be voided. Or if the information is not true, the casino will lock your account and forfeit all money.
Important Things to Know About Betway Withdrawal
Before making any actions on the Betway Casino site, we advise reading the terms and conditions, especially the part about withdrawal policy. There, you can find important information such as:
- You can cash out money only if you have made at least one deposit.
- The minimum withdrawal is CA$10.
- Withdrawals will be sent back to the payment service account you used to make a deposit.
- All wagering requirements must be met before making a withdrawal.
- Big amounts of money will be paid out in full or installments.
These are the most important things you need to understand about the withdrawal process at Betway. If you have an unusual case, you can contact customer support and ask any questions related to your case.
How to Cash Out Easily from Betway
If you are a Betway player or bettor, you can win money easily. But as you understood, the process of withdrawal is pretty serious and sometimes slow. However, Betway does its best to pay out as quickly as possible. If you want to receive your money fast, you can do the following:
- After registration, verify your account with the necessary documents. You can also clarify with customer support if you need to send any additional docs.
- Before you make your first deposit, make sure you can withdraw via the same method. Moreover, you need to determine which payment option you will use for deposits and withdrawals. Don’t change it as it can result in slower withdrawals and additional checks.
- If you change a payment method, tell your manager about it. And provide proof of your new payment option.
- Make sure you meet all wagering requirements of bonuses if you use them.
- You can try to avoid the pending period of 3 days by contacting the customer support manager. Ask him if it is possible in your case. They are especially loyal to players that join Betway Plus.
These steps will help you receive payments faster. However, if you are a new player and make your first withdrawal, the process can still take a little longer.
Betway is a pretty nice casino. It is safe and reliable. Withdrawals may not be the best part of it, but still, you can trust the site and make a profit by playing games or betting on sports. Besides, if you do everything right and provide authentic information, you won’t have problems with the casino. In contrast, you may become a very important player for Betway.
Are there any withdrawal fees at Betway?
Normally, players don’t need to pay any fees for withdrawals. However, it depends on the payment method you use. If you want to learn about any fees related to your payment method, contact customer support via live chat. They will tell you all the relevant information even if you aren’t a Betway player.
Theoretically, it is possible. You can withdraw your cash balance or deposited funds at any time. You need to inform customer support about it. Then, you will get your deposited funds back, but the casino will forfeit all bonuses and associated winnings from your account.
If you are playing Betway games in Canada, you don’t need to pay tax on winnings from Betway. However, if you are a professional player or bettor, and gambling is your only source of income, then you need to tax your winnings.