In this guide, you’ll get a full understanding of the BetKing withdrawal process in Nigeria. It’s an integral aspect of online betting because the ultimate aim is to try and land a few winners and end up with more money than you started with.
Of course, if you haven’t signed up yet, I’d recommend checking out this BetKing promo code review to find out more about the welcome bonus and other promotions that are available from this betting company.
How Can I Withdraw My BetKing Bonus?
Before tackling the question about how to withdraw the bonus, let’s start from the beginning by briefly explaining the offer.
The current new customer bonus that you can snap up using the promo code VIPBET is 50% cashback up to ₦30,000 if your first bet loses. For example:
- Bet ₦10,000, Get ₦5,000 Cashback.
- Bet ₦25,000, Get ₦12,500 Cashback.
- Bet ₦60,000, Get ₦30,000 Cashback.
The minimum amount for the qualifying bet is ₦10,000. Also, note that this offer is only for new customers who completed their BetKing registration. After depositing, place your first (multi) bet, which must have a minimum of five selections, and each selection has to have odds at least 1.20
If the bet loses, you will get 50% cashback that you can withdraw, as long as:
- You met the above bet qualification requirements.
- No matches were void or cancelled.
- You didn’t cash out the bet.
- You have linked your bank details to your BetKing account and they have been verified.
In relation to withdrawing the cashback bonus, the process is the same as a regular BetKing withdrawal of winnings from a bet. This is all covered in the following sections if you need guidance.
How To Withdraw Money From BetKing
As mentioned, it doesn’t matter if it’s the cashback bonus or winnings from your betting activity; the steps to withdraw money from BetKing are identical.
- Log into your BetKing account.
- Once logged in, click on User Area Menu (on the left) and select My Account > Withdrawal.
- If this is your first BetKing withdrawal, you need to link your local bank account.
- After linking your bank to your BetKing account, you’ll be able to select your saved details.
- Type in the amount that you want to withdraw. Please note that this needs to be equal to or more than BetKing’s minimum withdrawal limit.
- Click Proceed.
How To Withdraw From BetKing Account To Your Bank Account
Although BetKing provides several payment methods for deposits, including Paystack, Opat, QuickTeller ATM, Polaris Collect, and GTB, the only withdrawal option is via a bank transfer.
Therefore, if you are wondering how to withdraw money to your bank, follow the step-by-step guide above. Just remember to save your details (the bank account number) before commencing with the withdrawal request.
What Are BetKing Withdrawal Rules?
As with all online betting companies, there are a few BetKing withdrawal rules that you need to be aware of. These are standard policies that you can find in the terms and conditions.
What Is The Minimum Withdrawal on BetKing?
The minimum withdrawal amount is ₦1,000 in a single transaction. When considering the minimum deposit limit is only ₦50 for certain payment methods, this min. withdrawal is disproportionate. However, it’s in line with multiple other betting companies in Nigeria.
How Much is BetKing Maximum Withdrawal?
The most a customer can withdraw from their BetKing account in a single transaction is ₦10,000,000. This is a substantial limit by any standards. If you are fortunate enough to require a larger withdrawal, the only option available is to complete multiple transactions.
Are There Any Withdrawal Fees?
BetKing doesn’t charge any withdrawal fees when you make a bank transfer from the betting site. However, it is still worth checking with your bank to ensure they don’t charge anything. Ultimately, it shouldn’t because it is collecting the money, but it is still a good idea to get clarity.
Can You Withdraw Without Betting the Full Deposit Amount?
The policy at BetKing Nigeria is that a player has to wager 60% or more of their deposit before being eligible to make a withdrawal. The purpose of this is to prevent illegal activities, such as money laundering.
Exceptions may be made if you mistakenly deposited an incorrect amount, for instance, you deposited ₦100,000 instead of ₦10,000. In such cases, you need to contact BetKing’s customer service for help.
Can You Withdraw From BetKing on Weekends?
Although it is possible to submit a withdrawal request over the weekend, it may not be processed until Monday morning when the banks open for business.
How Long Does It Take To Withdraw From BetKing?
Once you know how to withdraw money from BetKing, it only takes a few seconds. Furthermore, BetKing promises to process requests instantly, which means your money should arrive within minutes.
As a note, the first withdrawal usually takes a little longer, however. This is because BetKing needs to complete certain security checks on the bank account number that you are using. Also, you might need to complete the company’s KYC procedure, which can cause a delay.
In these circumstances, the BetKing withdrawal time can be 24 hours or longer.
Do I need ID To Withdraw From BetKing?
It is quite likely that at some point, you will need to provide ID to verify your age and identity. Most betting companies have a withdrawal threshold, say ₦10,000, for example. If you hit the threshold with total withdrawals, ID must be produced.
However, BetKing reserves the right to ask for ID at any time, so it may be on your first withdrawal of only ₦1,000. The good news is that this only happens once. After your ID has been verified, all withdrawals with be smooth sailing.
Problem With BetKing Withdrawal
From time to time, you may run into a problem. These are some of the potential issues, along with reasons and solutions.
Why is my BetKing withdrawal pending?
The main reason for a withdrawal showing ‘on hold’ or ‘pending’ is due to BetKing’s payment service provider experiencing network issues. This essentially causes the withdrawal to get clogged in BetKing’s system because it cannot transfer the money.
However, BetKing will continue trying to release the funds, so once the system is fixed, you’ll get your cash.
What should I do If I can’t withdraw from my account?
If it happens that you cannot make a withdrawal, you should contact BetKing’s customer support team immediately. It will check your account to see what the problem is and inform you. Usually, it is something simple like still having outstanding wagering requirements on a bonus.
Why was my withdrawal rejected and what should I do?
There are a few possible reasons why a withdrawal request may be rejected; these include:
- Your BetKing account name does not match the name on your bank account. Always ensure when you register that you use the same name. Never use a nickname or any other title that isn’t on your legal ID documents.
- You haven’t wagered at least 60% of the initial deposit amount. It is stated in the terms and conditions that this is a requirement before a withdrawal can be processed.
- There could be outstanding verification checks that BetKing needs to do. This is more likely to happen if you are trying to make a large withdrawal.
So, what should you do? The simple answer is to contact customer support and find out the reason so that the problem can be resolved as quickly as possible.