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Withdrawals

Withdrawals

Are there any fees when withdrawing?  

No, it is free to withdraw.  

- What is the minimum I can withdraw?

The minimum withdrawal amount per transaction is ₦1,000.

- What is the maximum I can withdraw?

The maximum withdrawal amount per transaction is ₦10,000,000.

- How do I withdraw?

To request a withdrawal, you'll need to be logged in.

  1. Tap the 'My Account' icon in the top right corner.
  2. Under Account Settings, select 'Withdraw' and tap on the 'Withdraw Now' button.
  3. If you are withdrawing for the first time, you'll first need to save your bank account details. If you've already saved your bank details, simply select thethe bank you want your winnings paid to in Withdrawal Profile.
  4. Ensure that your saved bank account belongs to you and the name on your bank account is same as was registered with on BetKing profile.
  5. Enter the amount (Min ₦1,000) you wish to withdraw.
  6. Tap 'Proceed'.

- How long does it take to process withdrawals?  

We process withdrawals instantly.

If you have not received your withdrawal straight away it may be because we need some more information from you. For example:

  • If this is your first withdrawal, we'll need to complete some security checks on the bank details you provided. We strive to complete these checks and to process your withdrawal within 24 hours, but there may be a delay during very busy periods, if you've entered incorrect details, or if we need more information from you to verify your details.
  • If you've been lucky enough to win, we'll need to verify your identity before we can process your withdrawal. This process is a regulatory requirement called Know Your Customer (KYC).
  • Your withdrawal settlement to your provide bank account may be delayed, Some of our customers have informed us of delays by their banks to credit funds. This appears to affect a small number of banks at busy periods such as weekends. Unfortunately, such delays are out of our hands as your funds have left the BetKing platform.
  • Banks with a history of settlement delays can be identified on the withdrawal profile, You may decide to continue with requesting payment to these flagged banks or provide/select  another bank account belonging to you.

- Why am I still waiting for my withdrawal?

We're sorry if you have waited for your withdrawal.

Some of our customers have informed us of delays by their banks to credit funds. This appears to affect a small number of banks at busy periods such as weekends or public holidays. Unfortunately, such delays are out of our hands as your funds have left the BetKing platform. If this is the case with your selected bank, you may  wait for 24 working hours for your bank account to reflect the withdrawn amount.

Some of our customers have also informed us of delays by their banks in sending payment notifications/alerts. Please endeavour to check your bank accounts to confirm credit of your withdrawal requests through your internet banking apps or any ATM cashpoint

If this is your first withdrawal, we'll need to complete some security checks on the bank details you provided.

If we've asked you to provide photo ID to verify your account, your withdrawal will show as 'pending' until we have received your identification document. 

- How can I check the status of my withdrawal?  

To check your withdrawal status, you'll need to be logged in.

  1. Tap the 'My Account' icon in the top right corner.
  2. Under Account Settings, select 'Transaction List'.
  3. Tap 'Transfer Type' and select 'Payment Methods' to filter by deposits and withdrawals.
  4. Tap 'Proceed' to view your payment transactions and their status.

- Why is my withdrawal status 'On Hold'?

Occasionally, our payment gateway provider may experience network issues that can cause withdrawals to get 'stuck' in the system. If this happens, we'll continue to try processing your withdrawal. If your withdrawal was not successful after 24 hours, your funds will be returned to your BetKing account where you can reinitiate the withdrawal request.

- Why was my withdrawal rejected?

We complete security checks on every withdrawal request before it can be approved and processed. If your withdrawal was rejected immediately, it will be for one or more of the following reasons:

  • Name does not match. The name you used to register your BetKing account must match your name as it appears with your bank. If you need to update your BetKing account name, please contact Customer Services. 
  • Withdrawal of deposit. Deposit amounts must be used for betting activity. You may withdraw bet winnings at any time.
  • Invalid account – the bank account provided is invalid, please ensure you provide a 10 digit Nuban (Nigerian Uniform Bank Account Number) account number
  • Verification checks. If we have been unable to verify your account, you will not be permitted to withdraw until your account has been verified. Please read our Verification help page for more information.

If this was the case, we'll have sent you a message via SMS or email, and in My Account.

Occasionally, our payment gateway provider may experience network issues that can cause withdrawals to get 'stuck' in the system. If your withdrawal was not successful after 24 hours, it will be rejected, and the funds returned to your BetKing account for you to reinitiate the withdrawal request.

- Why have I been asked to provide photo ID?

We are required by law to verify the age and identity of our customers to comply with regulatory requirements and to protect the security of accounts. This process is called Know Your Customer (KYC).

We may ask to see a copy of your Valid ID to verify your age, identity, or if you are a winner.

- Can I withdraw my money without placing bets?

No, you must use your deposited amount to place bets before you can withdraw. This policy is in place to prevent money laundering and other unlawful financial transactions on our platform.

If you deposited an erroneous amount, for example ₦10,000 instead of ₦1,000, or you've changed your mind about gambling, please contact Customer Services for assistance.

- Do I need to provide photo ID every time I win?

No, you only need to verify your account once within the validity of your photo identification document. You will  be required to upload a more recent Valid ID upon expiration of the old one.

- Can I request a withdrawal using a bank account that does not belong to me?

No, you can only save a bank account that belongs to you and the names linked to your saved bank account must be a match with the names registered on your account profile.