Bet with a trusted site first
Withdrawing from your chosen betting site should be a simple process. Each betting company collaborates with a selection of banking partners, in theory, its to bring you the best banking options available. Banking in the gambling sector is seen as high risk though, so you won’t always have the wealth of options that you might expect from an average online shopping payment processor.
There’s no one way to withdraw from your betting site, but it shouldn’t be complicated either. Each betting sites has a banking section and withdrawal should be a visible option in the banking dashboard.
If the betting site hides or restricts the ease in which you can find the withdrawal section, they’re not really a transparent and trustworthy betting site. So make sure you are betting with a partner who has a visibly transparent banking section.
Withdraw when you win
Betting customers are generally able to withdraw money from their betting account when they place a winning bet. When you have made a deposit into your account and then place a successful bet, then the betting site in question will settle your wager as a winner.
Your real money balance is then updated to reflect the winnings from your bet and you can choose to make a withdrawal. You tend to head to the “My Account” section and then select the amount of money that you want to withdraw back to your chosen payment method.
Its good practice to get into the habit of withdrawing winnings, so you don’t fall into an irresponsible betting habit of trying to recoup losses by always wagering winnings.
Betting withdrawal methods
Withdrawal methods are all part of the betting banking eco system of deposit, bet and withdraw. To avoid money laundering, betting sites will not allow you to deposit and withdraw using different methods. So you can’t deposit with one banking process and then withdraw with another. It looks unnatural and is likely to get you banned from the betting site.
The most common and popular withdrawal methods are:
- Local Bank Transfer
How do you withdraw betting bonus
Generally you can’t withdraw a betting bonus unless you have met the terms and conditions to wager that into cash. Most bonuses are now placed in a separate bonus wallet and can only be accessed at the bet slip. Sometimes the betting site require you to play through the bonus many times before winnings are converted to cash. This is to stop you abusing the bonus systems by taking money with no spend.
To get cash from a bonus, you have to bet with it until you have won enough that the betting site then convert that into your cash balance. Each betting site as different terms and conditions, each bonus offer is different. But the general rule is that you can not withdraw bonus as cash unless you have won enough times to generate a winning cash pot balance.
How fast are betting withdrawals
Ultimately it depends on two things. The bookmaker that you are betting with and the payment method that you have chosen. However, many betting sites specialise in returning funds back to a betting account within a short space of time and you should expect the funds to return within three working days.
Naturally, there should be a strong customer service department in place so that you can make a query should you need to ask any questions about payment options. It’s great to be directly linked to a customer service representative within a short space of time and hopefully get some information in a timely basis.
Hopefully you will be able to place a number of winning bets and will be able to make withdrawals on a timely basis. You should be able to see the net deposits and withdrawals when you visit my betting account.