Withdrawing funds is a minor part of the betting experience, but it’s without question the most satisfying — especially after a big win! In this guide, we'll share detailed information on Betfair withdrawal times and the various withdrawal options available on this betting platform.
Betfair Withdrawal Time Scales & Options
| Method | Min | Max | Processing Time | Fee |
|---|---|---|---|---|
| £5 | Instant | None | ||
| £5 | Instant | None | ||
| £20 | Instant | |||
| £20 | Instant | None | ||
| £20 | Instant | None | ||
| £20 | Instant | None | ||
| £5 | Instant | None | ||
| £20 | Instant | None | ||
| £20 | 1-5 working days | None |
| Method | Min | Max | Processing Time | Fee |
|---|---|---|---|---|
| £0.01 | 2-5 working days | None | ||
| £0.01 | 2-5 working days | None | ||
| £1 | 1-4 hours | None | ||
| £1 | 1-4 hours | None | ||
| £1 | 1-4 hours | None | ||
| £5 | 2-5 working days | None | ||
| £0.01 | 2-3 working days | None | ||
| £0.01 | Up to 24 hours | None | ||
| £10 | 1-5 working days | None |
Fortunately, Betfair accepts multiple UK payment methods. You can deposit and withdraw with debit cards, e-wallets via bank transfer, and even cheque.
Debit Card
While we’ve separated the various debit card options, there isn’t any difference in terms of minimum withdrawals, fees, and processing times if you use a Visa or Mastercard debit card. With both options, withdrawals are typically processed between two to five working days.
Punters can also withdraw via Visa Fast Funds. This is the quickest way to withdraw your winnings as they are processed within a couple of hours. However, restrictions do apply — this payment method is currently only available to customers in the UK, Ireland, and Spain.
E-wallets
While debit cards remain the most popular banking option for punters, e-wallets are increasing in prominence and Betfair now allows deposits via PayPal, Skrill, and NETELLER.
You can create an account with any of the aforementioned e-wallets before banking with Betfair. The processes involving each are incredibly simple.
Security is paramount with this bookmaker, so when you deposit with NETELLER, for example, you must provide your NETELLER account ID and secure ID before you can deposit.
There are no withdrawal fees involved with any method.
With PayPal, Skrill, and NETELLER, the minimum withdrawal is a mere £1, while it’s £5 with paysafecard.
paysafecard boasts a similar processing time to debit cards (two to five working days), but with the other e-wallets, withdrawals are processed very efficiently (between one to four hours).
It’s also worth checking whether e-wallets are exempt from Betfair’s promotions, as this is usually the case across different operators.
Apple Pay
The emergence of Apple Pay has allowed iPhone users to purchase pretty much anything they like with just a simple tap on their mobile devices. This modern way of banking has now found its way onto the online betting scene.
Apple Pay allows users to make payments through iOS and watchOS apps, as well as websites in Safari. It’s a super convenient way of depositing and withdrawing funds on Betfair, although withdrawals do take between two to five days to be processed.
Customers who have Apple Pay set up on the following devices can use this as a legitimate payment option:
-
iPhone SE or later with minimum iOS 10 installed
-
iPad Air 2 or later with minimum iOS 10 installed
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Mac models with Touch ID bar with minimum macOS 10.12
How To Add a Payment Method on Betfair
This bookie offers plenty of payment options to choose from, and adding a payment method is a quick and easy process that shouldn’t cause you too much hassle. Simply follow the steps we’ve outlined below.
Step 1: After logging into your Betfair account, click the account icon on the top right-hand side of the homepage before clicking ‘Deposit’.
Step 2: To add a ‘popular’ payment method (debit card, Apple Pay or Instant Bank Transfer’), click the ‘Popular’ tab.
Step 3: If you’ve got space to add more methods, click the blue ‘+’ icon above ‘Add method’.
Step 4: Select your desired payment method from the choices that appear.
Step 5: You’ll then need to add any necessary financial information associated with your payment method of choice.
Step 6: Click ‘Add Card’ to complete the process.
If you would like to add a payment method that isn’t a ‘popular’ option, click the ‘Other Methods’ tab at step two. All the other methods available at Betfair will then appear. Click on your preferred one and add all the necessary information to complete the process.
How To Withdraw on Betfair
Withdrawing funds should never be a complicated process; punters should be able to receive their winnings as soon as they wish.
Fortunately, withdrawing with this bookmaker is a markedly simple process. Here’s a step-by-step guide.
Step 1: First up, make sure you’ve got funds in your Betfair account and that you’ve been verified.
Step 2: Once you’ve logged into your account, ensure all your funds are in your main wallet. You might need to transfer funds from your Poker account, for example.
Step 3: Once all your funds are in your main wallet, click ‘My Account’ in the top right-hand corner of the screen.
Step 4: A drop-down list will show. Choose ‘My Betfair Account’ from the options.
Step 5: You’ll then be able to access your funds via the ‘Withdraw Funds’ button. It’ll manifest as green if you’re able to withdraw.
Step 6: Select the payment method you wish to withdraw to.
Step 7: Enter how much you want to withdraw in the ‘Amount’ box.
Step 8: Click ‘Withdraw’ to conclude the process. Betfair will process your withdrawal and you’ll swiftly receive your funds (depending on the payment method).
Key Betfair Withdrawal Terms & Conditions
While Betfair tries its utmost to ensure withdrawing funds is a stress-free process, there are several terms and conditions for punters to remember.
Identification Verification Policy
Before you can withdraw funds from Betfair, you must first verify your identity with the bookmaker. You must send the bookie some sort of ID verification, whether it be a passport, bank statement, or driver’s licence.
Closed Loop Policy
You must withdraw funds with the same payment method they used to deposit funds into their Betfair account.
Minimum Withdrawal Policy
You must ensure that you have enough funds in your account to withdraw as some Betfair payment methods do not allow punters to take out tiny amounts. The minimum withdrawal amount depends on the payment method.
Maximum Withdrawal Policy
Betfair has imposed caps on how much can be withdrawn at any one time. Again, the maximum withdrawal amount depends on the various methods offered.
Credit Card Policy
You should now be aware that is illegal to use credit cards on UK gambling sites. However, there are plenty of alternative payment methods to choose from on the betting site.
Things That Could Slow Down Your Betfair Withdrawal Time Scale
While the bookie will always attempt to process your withdrawal as quickly as possible, there are factors that could slow down withdrawal times. Below is a list of reasons for potential delays.
Weekends: Weekends are non-business days for banks, so Saturdays and Sundays essentially don’t count when processing withdrawals.
Identification issues: Your identity has to be verified by Betfair before you make your first withdrawal, so any issues on that front could cause a delay. You may need to resend the required documentation.
Large withdrawals: Won big? It may take a little longer for your withdrawal to be processed if you’re withdrawing a lot of cash into your account. Betfair must ensure that any large transactions are paid out safely and securely.
Change of banking information: In order to combat fraud, Betfair may be forced to oversee more security checks should your banking information change.
Betfair Withdrawal Times – FAQs
The minimum withdrawal amount differs across various payment methods, but the minimum you can withdraw is 1p with Visa, Mastercard debit card, Apple Pay, and MuchBetter.
It absolutely does. You must withdraw your funds using the same payment method you used to deposit funds into your account.
The maximum withdrawal amounts again depends on your chosen payment method, but the most you can withdraw in one go is £100,000 via bank transfer.
E-wallets are the most efficient method of withdrawal on Betfair. Withdrawals with PayPal, Skrill, and NETELLER are processed within four hours of the request.
With e-wallets, Betfair’s withdrawals are usually processed within a couple of hours. However, with debit cards and bank transfer, the process can take up to a few days.
ThePuntersPage Final Say
There are a multitude of payment options available to punters when withdrawing funds with this bookmaker, which ensures the processes are simple and stress-free, with no additional fees.
While Betfair's withdrawal times could perhaps be more efficient, safety and security are their priority. Overall, though, there’s little to fault and there’s nothing to suggest you’ll have any issues withdrawing funds from this excellent bookie.