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Betfair Payment Guide: Payment Options, Withdrawals, and More

3 January 2018
par admin
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Betfair has betting options that cover a huge range of interests but, in order to access them, players have to make a deposit into the site. In this Betfair payment guide, we will run down how to make a deposit at Betfair, the different Betfair deposit options available, as well as the Betfair withdrawal options available for after you win.

Logo Betfair

Step by step guide to payment

At Betfair, payment is simple and straightforward, so you can spend less time figuring out how to get the financial aspect of the site settled, and more time placing your bets or enjoying your winnings.

How to make a deposit

Making a deposit at Betfair is easy, and compatible with a number of different types of Betfair payment options. The steps below will run down how to make a Betfair deposit, to fund your account and get you one step closer to placing winning wagers.

  1. Login to your Betfair account. Betfair would have no way of knowing that the funds you were spending were for your account unless you were logged in, so be sure to do that first.
  2. Click the Deposit button once logged into your account. This will take you to the deposit screen, where you can fill out the specifics of your deposit request.
  3. Fill in the deposit information from the deposit screen. Among the things you will need to fill in are the Betfair deposit option of your choice, as well as the amount that you want to deposit. Be sure to double check this information before finalizing your deposit, as it cannot be undone.
  4. Double check that your balance matches the amount of your deposit, plus any funds that were already in your Betfair account. After this, your deposit is complete!

Don’t forget, when making your first deposit after registering for your Betfair account, that you could be entitled to a welcome bonus depending on the availability of a Betfair promo code.

welcome promo £100 free bet offer Betfair

How to make a withdrawal

There isn’t a much better feeling when it comes to betting than the time to make a withdrawal and collect your winnings. If you follow the steps below, you will have the easiest possible time making a Betfair withdrawal, and can enjoy your money quickly.

  1. Log into your Betfair account and go to the My Account section of the site.
  2. Click the Withdraw Funds link that will take you to the page where you can fill out the specific information for the deposit you are trying to perform.
  3. Fill out the information required to complete your withdrawal. In this case, you should only need to input the amount of money that you want to withdraw. However, if you want to change the Betfair withdrawal option that you have your funds sent to, you will need to change that setting during the withdrawal process as well. After that, your funds will be sent to your Betfair withdrawal method of choice, and you are free to enjoy your funds.

Wallet Management

Betfair Wallets

Betfair has a number of different wallets available for players to use throughout their time on the site. This allows players the opportunity to better manage their money, which is so important when placing wagers, as doing so efficiently increases the chances of operating profitably. Such wallets include a main Betfair wallet, where players’ deposits go, and wallets for individual sections of the site such as a poker wallet and casino wallet.

wallet Betfair

It is simple for players to transfer funds from their main Betfair wallet to a wallet for a specific section of the site. All players have to do to initiate a transfer is click on the Cashier button, and enter the amount that they want to transfer to a different wallet, and choose which wallet they want to transfer those funds into. This is a refreshingly simple process that promotes intelligent money management while betting.

Betfair payment methods

 

Betfair has a number of Betfair payment options available to players, so that everyone has option to make deposits and withdrawals at the site using a method that fits into their financial lifestyle. Below are the available Betfair payment options and details on how to use them, both when looking to make a deposit and a withdrawal.

Betfair deposit options

Making a deposit is what allows you to place bets at Betfair, and the below options are available for players to get their deposits in before they place those wagers.

Payment MethodMinimum DepositTransaction FeeProcessing Time
Credit/Debit£5Up to 1.5%Instant
Neteller£12FreeInstant
Skrill£10FreeInstant
Paypal£52%Instant
Bank Transfer£10Free24 hours

Betfair withdrawal options

After winning some money at Betfair, these withdrawal options are available for players to take their funds out and spend them as they see fit.

Payment TypeMinimum AmountProcessing TimeFee
Debit CardNo minimum2-5 working daysFree
Credit CardNo minimum2-5 working daysFree
PayPal£1Max. 24 hoursFree
NETELLER£2Max. 24 hoursFree
MoneybookersNo minimumMax. 24 hoursFree
Bank Transfer£103-5 working daysFree

FAQs

1. Are payments secure at Betfair?

Yes, as a condition for licensing around the world, Betfair is required to have secure payment processing on both deposits and withdrawals to ensure the safety of their customers and their money.

2. Which currencies are available at Betfair?

Betfair accepts the UK Sterling, Euro, US Dollar, Hong Kong Dollar, Australian Dollar, Danish Krone, and Swedish Krona.

available currency Betfair

3. How can I set a deposit limit at Betfair?

Betfair allows players to set a deposit limit by clicking on Player Protection from the My Account screen, followed by selecting Overall Limits and Deposit Limits.

4. What is the Customer Verification process?

Players can verify their accounts by submitting proof of identity and address to Betfair via an uploader on their site or via email. Identity verification can be done by a driver’s license, passport, or national identification card, while address verification can be done via a utility bill or recent bank statement.

5. I haven’t received my withdrawal yet, what should I do?

Contacting customer service right away is the best way to solve an issue with receiving a withdrawal from Betfair.

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