Betway Withdrawal Time Canada: How Long Does Betway Withdrawal Take?

Betway Withdrawal Times Canada

Any seasoned punter knows that placing your bets is only half the fun, the other half comes from the exhilaration of turning those digital winnings into tangible cash. Today, we’re here to demystify the withdrawal process at Betway Canada, one of the most popular sports betting destinations in the country and around the globe.

In this guide, we’ll highlight the various methods available as well as the average Betway withdrawal time for each method. Knowing these details is not just about convenience; it’s about making informed decisions that enhance your online betting experience, ensuring that the thrill of victory is complemented by the ease of accessing your hard-earned winnings.

Betway Sportsbook is a prominent player in the international online sports betting market, as an official partner of the NHL as well as the English Premier League’s Tottenham Hotspur and West Ham United. They are renowned for their user-friendly interface, extensive betting options, and competitive odds across major leagues. The website and top-rated mobile app are known for their clean and easy-to-navigate design, making it easy for anyone to use their platform.

Reputation-wise, Betway has established itself as a trusted and legal international gambling company. It boasts a solid reputation with high odds across various sports, including hockey, baseball, and basketball in North America as well as soccer and horse racing in Europe. In terms of licensing, Betway was one of the first operators to obtain a license in Ontario in August 2022, allowing it to legally offer sports betting and casino products throughout the province. This move was part of the sportsbook’s efforts to expand its legal reach within the country after dominating the European market since 2006.

As for notable features, Betway Canada is known to offer a range of promotions and bonuses, such as Betway Boosts for enhanced odds, and a variety of special promotions tailored to different sports and events. Additionally, the platform provides a top-tier casino experience with a wide array of slots, table games, and live casino options. 

Betway's Accepted Withdrawal Methods

Congratulations on your victory! Now it’s time to reap the rewards of your strategic bets and insightful predictions. A Betway withdrawal should be both secure and straightforward, which is why they’ve crafted a seamless withdrawal process, designed to put your mind at ease and your funds in your hands promptly. Below, we unveil the diverse options available to you, each with its own set of advantages, ensuring that your transition from bettor to beneficiary is nothing short of smooth sailing.

  • Online Banking (Interac) - Interac is a popular online banking method in Canada that allows for quick and secure transactions directly from your bank account. Betway Interac withdrawal is actually the recommended option by the sportsbook due to its widespread popularity in Canada and seamless ease of use. There are also zero fees associated with this method and the Betway withdrawal time for Interac transactions is typically within 24 hours, similar to e-wallets.
  • eWallets (InstaDebit, iDebit, MuchBetter, ecoPayz) - eWallets are digital wallets that allow you to store funds and make transactions online. Betway withdrawal time to eWallets is usually within 24 hours. There are no fees charged by Betway for using this method and the minimum withdrawal limit is set at a very reasonable C$10, which is lower than many of its competitors.
  • Credit/Debit Cards (Visa, MasterCard) - Credit and debit cards with Visa or Mastercard are common payment methods linked directly to your bank account. Betway processes card withdrawals within 1-5 business days, so it is certainly one of the lengthier methods to receive your winnings. Again, Betway does not impose any fees, and the minimum withdrawal is set at C$10.
  • Bank Transfer - A bank transfer involves moving money directly from your Betway account to your bank account, representing the most secure way to make a Betway withdrawal. However, similar to bank cards, this method can take 1-5 business days for the funds to reach your account after Betway’s approval. On the plus side, no fees are charged by Betway, and the minimum withdrawal amount stands at just C$10.

Unavailable Withdrawal Methods

When the chips are down and it’s time to withdraw, knowing which payment methods will cross the finish line with you is crucial. Even though Betway has done a fantastic job of including many of the most popular forms of payment for Canadians, primarily Interac, Visa, Mastercard, and a handful of e-wallets, there are a few notable absences from their list of accepted banking options. So, let’s take a glance now at the payment methods that stand at the gates of Betway, exploring what makes them tick, why they’ve captured the hearts of many, and why some are left knocking at the door.

  • Cryptocurrencies (e.g., Bitcoin, Litecoin, Ethereum) - Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on a decentralized network. They are popular at many sports betting sites due to their anonymity, low transaction fees, and fast transaction times. However, Betway does not accept cryptocurrencies like Bitcoin, Dogecoin, and Ethereum, possibly due to the volatile nature of their value and regulatory challenges.
  • Digital Wallet (Apple Pay, Google Pay) - Apple Pay and Google Pay are two popular digital wallet platforms and online payment systems that power in-app and tap-to-pay purchases on mobile devices. It allows users to make payments with Apple or Android phones, tablets, or watches. Apple Pay and Google Pay may not be accepted at Betway Sportsbook potential technical integration challenges.
  • Prepaid Vouchers (Flexepin, Neosurf, PaySafeCard) - Flexepin, Neosurf, and PaySafeCard are three incredibly trendy prepaid voucher systems that allow users to make online payments without the need for a bank account or credit card. Users can purchase vouchers from retail locations and use the unique digit codes to fund their Betway account. Even though users can make deposits with these three prepaid solutions, they are not yet available for withdrawals.

How Long Does Betway Withdrawal Take?

Betway withdrawal time varies depending on the precise method, so there is no single answer. However, if you stick with Interac or any one of the e-wallets (MuchBetter, iDebit, InstaDebit or ecoPayz), you can typically expect to receive your winnings within 24 hours. Like many Canadian sportsbooks, Visa, Mastercard and direct bank transfers will come with longer Betway withdrawal times of up to a week.

To simplify things a little bit, here’s a table summarizing the available withdrawal methods, along with the average Betway withdrawal time, minimum and maximum withdrawal amounts, and any associated fees:

Withdrawal MethodWithdrawal TimeMinimum WithdrawalMaximum WithdrawalFees
InteracWithin 24 HoursC$10C$10,000None
Visa/Mastercard1-5 Business DaysC$10C$50,000None
MuchBetterWithin 24 HoursC$10N/ANone
InstaDebitWithin 24 HoursC$10N/ANone
iDebitWithin 24 HoursC$10N/ANone
ecoPayzWithin 24 HoursC$10N/ANone
Bank Transfer1-5 Business DaysC$10C$50,000None

It’s important to note that while Betway does not charge fees for making a withdrawal, additional fees may be imposed by the payment systems, so it’s recommended to check with the desired provider for any unexpected fees. Additionally, even though the maximum withdrawal amount is not specified by Betway for certain methods, they do have a limit on how big a profit a player can make in a single day, which is set to C$500,000. 

Step-by-Step Betway Withdrawal Guide

We’re not just here to lay out what methods you can make withdrawals with, we’re also here to explain exactly how to withdraw from Betway so that you’re well-equipped to claim your earnings in as little time as possible. So, here’s a step-by-step guide on how to request a withdrawal from Betway Sportsbook:

  • Access the Betway Canada website or app and log in with your credentials.
  • Once logged in, locate and select the “Bank” option on the desktop site or “Banking” if you’re using a mobile device.
  • In the banking section, click on the “Withdrawal” tab to view the available withdrawal methods.
  • Pick the withdrawal method that you prefer and is available for your account.
  • Fill in the necessary information such as the amount you wish to withdraw and any other required details.
  • Review all the details, and if everything is correct, confirm the transaction to initiate the withdrawal process.

Tips and Considerations for Betway Withdrawals

  • Verify Your Account - Ensure your account is fully verified with all necessary KYC (Know Your Customer) documents submitted. This can prevent delays in the withdrawal process.
  • Use the Same Method for Deposit and Withdrawal - If possible, use the same payment method for both depositing and withdrawing, as this can often speed up the withdrawal process.
  • Check for Any Fees - While Betway Canada does not charge fees for withdrawals, your payment provider might. Always check if there are any fees associated with your chosen withdrawal method.
  • Be Aware of Betway Withdrawal Times - Different withdrawal methods have varying processing times. E-wallets are usually faster, typically taking less than 24 hours, while bank transfers and card withdrawals can take anywhere from 1-5 business days.
  • Withdraw During Business Hours - Submitting your withdrawal request during business hours can help expedite the process, as requests made late on Fridays or weekends may be delayed until the next business week.
  • Keep Transaction History - After requesting a withdrawal, keep track of the transaction history in your user section for any updates or required actions.

Conclusion

When it comes to online sports betting, the moment of withdrawal is the crescendo of a player’s journey - a testament to skill, luck, and strategy. Betway orchestrates this finale with a symphony of options, each tailored to the user’s tempo. From the swiftness of Interac and e-wallets like MuchBetter and iDebit, to the steady and reliable Visa/Mastercard payouts, there’s a nice variety of trustworthy options for Betway withdrawals. Plus, with Interac and e-wallets processing in less than 24 hours, you won’t have to wait longer than a day to receive your winnings. This is actually quicker than the average Canadian sportsbook, though Betway could improve in the future by adding other popular withdrawal options like Apple Pay, Google Pay, PayPal, and cryptocurrencies.

FAQs

Yes, Betway legal in Canada. For bettors in Ontario, sports betting is not only legal but also fully regulated, and Betway obtained its Ontario license in August 2022. Betway also has licenses overseas, making it available and legal to use by all Canadian players.

Betway Canada offers a variety of withdrawal methods including bank transfers, e-wallets like MuchBetter, InstaDebit ecoPayz, and iDebit, credit/debit cards such as Visa and MasterCard, and Interac. 

Betway withdrawal times vary by method. Interac and e-wallets are typically the fastest, processing within 24 hours, while bank transfers and card withdrawals may take 1-5 business days.

Yes, the minimum withdrawal amount for all of the accepted Betway withdrawal methods is $10.

Yes, you can cancel a withdrawal request within a few hours of making it, as long as it hasn’t been processed yet.

Delays can occur due to bank processing times, public holidays, or if additional account verification is needed. Luckily, Betway offers 24/7 customer support if you experience any delays.

Rowan Fisher-Shotton, a passionate sports fan and seasoned journalist, hails from Hamilton, Ontario, Canada. Graduating with honours from Wilfrid Laurier University with a Bachelor of Arts in Criminology, Rowan has meticulously honed his skills to become an expert in the iGaming industry, specializing in sports betting analysis and professional sports coverage. Over the past several years, Rowan has developed a deep understanding of effective betting strategies and the dynamics of major leagues like the NBA, NFL, NHL, and NCAA. Now, as an expert in the field, he aims to provide insightful commentary and engaging content to help educate the casual sports bettor. In his off time, you can catch him hitting the gym, nose buried deep in a captivating read or on the hunt for that next winning parlay.