Australians can withdraw money easily from bookmakers licensed to operate in this country. This article will run you through the options available and give you tips on gambling sites banking.
For the most part, when withdrawing funds after a successful wager, you will automatically be directed to withdraw in the same manner as you deposited your money, however the choice is entirely up to each punter and how they want their cash sent to them.
The two most common ways for Australians to make withdrawals from their betting account is via a bank transfer and withdrawing back to a card they have deposited from.
Most common withdrawal methods
Bank Transfer: One of the most common methods of withdrawing cash, with funds transferred directly from your online betting account to a nominated bank account of your choice.
It is also a very simple method of withdrawal – all you need to do is log in to your account, click the withdraw option on the homepage of your selected bookmaker (normally in the account options/settings menu) and enter your bank account details.
Once you confirm, the money will disappear automatically from your betting account and will generally be processed on the next business day before appearing in your bank account.
It is important to note that with most bookmakers, the name on your bank account must match the name of your bookie account.
Credit card: To withdraw via your credit card, head to the account section of your chosen bookmaker’s website and click on the withdraw tab. From there you will be able to select ‘credit card’ from the withdrawal options, with the bookmaker requiring your card details in order to process the payment.
While withdrawing funds to a credit card is possible, most bookmakers do not allow withdrawals to a debit card, instead transferring the cash to the account linked to the card.
Some bookmakers also don’t support certain cards such as American Express or some prepaid and virtual cards, so make sure you check with them to ensure they are able to transfer you your money if this is the withdrawal option you wish to choose.
You should see the funds appearing on your card within two business days.
PayPal: PayPal is another withdrawal method supported by most bookmakers, however they usually require you to have made a deposit from your PayPal account prior to withdrawing funds into it.
Much like the other withdrawal methods, punters must select PayPal from the options within the relevant section of the bookmaker website.
To complete the transaction, you will be taken to the PayPal website for confirmation, with up to one business day usually taken before the funds are fully authorised and processed into your PayPal account.
Skrill: Skrill is an e-wallet which enables punters to transfer funds online to and from their betting accounts to their Skrill account.
Most online bookies support this method of withdrawal, with it listed under the withdrawal options menu on the bookmaker’s website.
When withdrawing funds through this method, you can expect to be waiting up to one working day for the transaction to be fully authorised and processed.
Cheque: Despite being online businesses, most bookmakers still accept cheques as an appropriate way for punters to withdraw money from their betting accounts.
For this to occur, punters must log in to their account and head to the ‘my account’ section of the bookmaker site. From there they can select the withdraw tab where cheque will be one of the options.
They must then fill in their details and submit it for the bookmakers to then process.
Bookmaker cash cards: With recent technology advances, some of the leading bookmakers are now introducing the cash card concept which is basically a debit card which is linked to your online betting account.
Money must be transferred to your card via the withdrawals section of the bookmaker site you are using, with funds instantaneously appearing.
The cash card can then be used like any normal EFTPOS debit card or to get cash out at an ATM of your choice.
Bookmakers which support this increasingly popular method of accessing winnings include Sportsbet, BetEasy and Bet365.
Is there a minimum or maximum amount of cash I can withdraw?
There is generally a minimum amount for withdrawing funds, however this varies depending on the bookmaker and withdrawal method you are using.
However, don’t be alarmed as it is usually only a small amount, such as $10, so it shouldn’t pose too much of a problem.
Some bookies do require international customers to withdraw a larger minimum amount. For example, Sportsbet has a $100 minimum withdrawal amount for their bank transfers, with any sum less than this amount attracting a transfer fee.
Will I be charged for withdrawing funds from my online betting account?
Our recommended online bookmakers do not charge a withdrawal fee, however some of the payment methods themselves, such as PayPal, do enforce a small fee themselves so be sure to check beforehand.
Some of the cash cards also attract fees, with ATMs charging to withdraw cash, while some bookmakers will also charge a small amount when getting cash out with a sale, such as Sportsbet who have a $0.29 fee.