How does cash out work at Betway?
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One of the most popular features at Betway is the ability to cash out. This is where you settle bets early, in exchange for a guaranteed price now. While cashed out bets are worth less than your winnings would be if your bet came good, it’s the certainty of cashing out now that appeals to so many punters, allowing you to lock in your profit while the offer is there. But how do you cash out on Betway, and once your bets are settled, how do you get your hands on your money?
How do you cash out on Betway?
Cash out is available on eligible bets only at Betway. To cash out your bet, simply press the Cash Out button, which displays your offer for immediate settlement. Once you’ve clicked the button, your bet is cashed out - there is no opportunity to reverse the process, so make sure you’re certain you want to close your position and take your settlement price before completing the cash out.
Once you’ve cashed out, your account will be credited with the settlement amount and your bet will be closed. Even if your bet comes in as a winner, you will not win the full amount - your bet is no longer active as soon as you’ve cashed out. The same is true on the other side - if your bet goes on to lose, it doesn’t matter, because you’ve already agreed to close out the position at the settlement amount.
How do I cash out my bet early?
Where offered, you can see cash out options on your active bets. A button will show the amount you can choose to settle your bet for now - click this button, and you’ll close your bet and bank your winnings, irrespective of what happens next in the events you’re betting on. The amount available for cash out settlement is regularly updated to reflect changing odds and circumstances. The better you time your cash out, the more money you’ll get for settling your bet early.
Cash out is not available on every bet. Only those bets that show a cash out offer on the betslip are eligible for early cash out. Similarly, you’re under no obligation to accept a cash out offer on any bet. If you think your bet will come home a winner, you’re free to ignore the cash out offers and run on for your full winnings.
Why can I not cash out my bet?
There are some circumstances where it will not be possible to cash out a bet. Some sports, matches and events are not eligible for cash out. If you’re betting on an accumulator or multiple, all legs of your bet need to be eligible for cash out before you’ll be able to cash out on your bet. If you can’t cash out from a bet, there will be no cash out offer available on the betting slip, and you’ll be obliged to see your bet through to the end to determine whether you win or lose.
There are also circumstances in which cash out is no longer a possibility on in-play events - for example, in the immediate aftermath of a goal or red card. Cash outs can be temporarily suspended for a number of reasons, again preventing you from taking a cash out offer. If you see a cash out offer and you want to accept it, the best advice is to click it without delay, so you can be sure you’re getting the cash award you were expecting, before circumstances change.
How do I get my money back from Betway?
Betway offers a number of methods for withdrawing funds from your account, including debit card, bank transfer and eWallet providers like PayPal, Neteller and Skrill. When you’re ready to withdraw money (subject to the withdrawal minimum of £5 for debit card and PayPal transactions), you can head to the Withdrawal menu to begin the process.
Go to My Account and click on Withdraw Funds. From here, you can choose the payment method you want to withdraw to, as well as the amount you’re looking to withdraw. Withdrawals are then processed by customer support after a review period, which can take up to 24 hours. From there, your funds are sent to your chosen withdrawal methods in line with the usual timescales.
How do I transfer money from Betway to my bank account?
Bank transfer withdrawal is one of the most popular options for withdrawing funds from your Betway account. Head to My Account and click on Withdraw Funds. From here, you want to choose your bank account as a withdrawal destination. Alternatively, if you paid with a debit card linked to your bank account, you can choose a debit card withdrawal, to return the funds back to your account.
The transfer should happen quickly in most instances, subject to processing time. However, it is possible you will have to wait a number of days to receive your funds, if your bank is not able to support faster payments from Betway. You should typically account for 1-2 business days for payment to land in your bank account.
Why can’t I withdraw my money from Betway?
There are several reasons why withdrawals may not be possible from your Betway account. Before you can withdraw, you need to have sufficient funds for the payment method you are using, as well as ensuring your account is in good standing. You also need to verify your ID by completing the KYC processes at Betway before you will be eligible for a withdrawal.
If in doubt, we recommend reaching out to support by live chat, who will be able to advise on the status of your withdrawal and any restrictions.
Cashing out at Betway is designed to be straightforward. Whether it’s cashing out active bets for instant settlement, or withdrawing funds from your account, the process should be quick, straightforward and hassle-free in the majority of cases, so you can get your funds when you need them. For more information, don't hesitate to vist our Betway review.
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