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Main » Betfair Review » Betfair Payment Options, Withdrawal Time & Deposits

Betfair Payment Options, Withdrawal Time & Deposits

Last Updated on 23/05/2024
Fact checked by: Megan Jonson

What Are The Betfair Payment Options?

When you’re looking at a great bookmaker, we know that you want a great choice of payments – and we think Betfair payment methods offer you a really great choice from a great bookie!

You’ve got plenty of deposit options and when you’re looking to withdraw, you’re going to find the Betfair withdrawal times for e-wallets are exactly what you’re looking for! But for all the details of these great payment methods, how to withdraw from Betfair, and all the info on deposits and withdrawals at Betfair… just read on!

Why The Choice Of Betfair Payment Methods Matters

When you’re choosing a great bookmaker, it’s always a good idea to look at the payment methods available to you. Sure, right now you might love just using your credit/debit card to pay, but what happens if that card starts charging fees for gambling transactions? You are already paying Betfair Australia commission costs on your wins, you don’t want to have to fork out a fortune on your withdrawals as well. Or maybe you’ll want to separate your betting funds from your main bank account – third-party cash-out options will give you this luxury.

That’s why we were impressed with the available Betfair payment methods, with 10 different methods of Betfair payment options – that’s impressive! Having this many alternatives means you’ll have the flexibility and convenience you’re looking for with a great bookmaker.

What Betfair Payment Methods Are Available To You?

With 10 different Betfair payment methods, we’re sure there’s going to be something here for you!

There’s MasterCard and Visa credit/debit card but these are deposit only for cards issued in Australia. You should also be aware that using your credit cards as Betfair payment methods could result in your card provider charging you a cash advance fee – check with your card provider to be sure! Other Betfair payment options using your bank account include POLi, BPAY, PayiD, and OSKO, but none of these allow a Betfair withdrawal. Most deposit methods are instant, but be aware that BPAY takes 2-5 working days and PayiD/OSKO can take between 10 minutes and 12 hours for your deposit to be completed.

Finally, for those wanting to use your bank account, there’s always a bank transfer, which does allow Betfair withdrawal and deposit but has longer Betfair withdrawal times and deposit times of 1-3 working days.

You can also use a full range of e-wallets for your Betfair payments, including PayPal, Neteller, and Skrill, which all give you instant deposits and better betting withdrawal times of a maximum of 24 hours (but usually within a few hours). In addition to quicker Betfair withdrawal times, using e-wallets is a way to separate your betting funds from your main bank account, giving you an extra layer of security and a way of budgeting for your betting.

Your Choice Of Payment Methods Will Affect The Betfair Withdrawal Times.

When thinking about how to withdraw from Betfair, you always need to be aware that different Betfair payment methods have different Betfair withdrawal times.

The only payment methods that allow you to make withdrawals at Betfair are bank transfers and e-wallets or Visa and MasterCards cards issued outside Australia. The Betfair withdrawal times for bank transfers are 1-3 working days, whereas Betfair to PayPal, Neteller, and Skrill withdrawals take a maximum of 24 hours and usually you’ll find these Betfair payments are much quicker, within a few hours.

So always ask yourself, before deciding on a payment method, how long does it take to withdraw from Betfair using your preferred method – it could make a big difference to your betting choices!

Verification For Your Betfair Payment Methods

It’s a bookmaker’s legal requirement to verify the identity and address of all new customers. Until you complete the verification process, the Betfair withdraw funds option will be unavailable to you. If you do not verify your account within 14 days, your account will be temporarily suspended.

The verification process is simple, with two methods to verify your identity and address:

Method One – Electronic Verification

On joining, Betfair will attempt to automatically verify your identity and address based on the details you provided on sign up. The majority of new accounts will be verified this way and you’ll receive email confirmation within 24 hours that your verification is complete.

Method Two – Personal Identification

If Betfair cannot automatically verify your identity, you’ll need to send documentation to You must send:

  1. A copy of your proof of identification – drivers licence, passport, national ID card, citizenship certificate.
  2. A ‘selfie’ of you holding your proof of identification.
  3. A copy of your proof of address – this could be a utility bill or bank statement and must be dated within the last three months.

Once Betfair have these proofs, you should be verified shortly afterwards and can withdraw funds. To withdraw with PayPal, Skrill, or Neteller, you are required to use the same account when withdrawing as you used to make your deposit.

What About The Limits On The Betfair Payment Methods?

Just as there are different deposit and Betfair withdrawal times for different Betfair payment methods, each payment method also has different limits attached.

Limits For Deposit Only Payment Methods

For Visa and MasterCard, the minimum deposit is 10AUD; POLi has a minimum deposit of 5AUD; whilst BPAY, PayiD, and OSKO have a minimum deposit of 30AUD.

Limits For Payment Methods Allowing Deposit And Withdrawal

For bank transfers, the minimum deposit is 30AUD, whilst the minimum withdrawal is 15AUD. For PayPal, the minimum Betfair PayPal deposit and withdrawal is 15AUD. With Neteller, the minimum deposit is 25AUD, whilst the minimum withdrawal (strangely) is listed by Betfair as the ‘equivalent of 2GBP’. And finally, for Skrill, the minimum deposit is 15AUD, whilst there is no minimum withdrawal.

Maximum Limits

There’s no Betfair maximum betting deposit limit for most payment methods, with the exception of depositing with POLi, where the maximum betting deposit limit is 20,000AUD per transaction. The Betfair maximum withdrawal limits depend on the withdrawal method you are using.

What’s The Verdict On Betfair Payment Options?

Unlike some bookmakers, you’re not going to be disappointed by the Betfair payment methods available. There’s a great variety of Betfair deposit options, from credit/debit cards, direct bank account payment methods (BPAY, POLi, PayiD, OSKO, and bank transfers), through to the most popular e-wallets, including Betfair PayPal deposit, Skrill deposit and Neteller deposits.

When you’re deciding which method to use, be aware that only a few allow withdrawal. You need to look at Betfair withdrawal times to see which is best for you, with the e-wallets of Skrill, Neteller, and Betfair PayPal withdrawal time usually way less than their maximum promised 24 hours.

Overall, Betfair Australia is a great bookmaker with all the payment methods you could want – definitely one to give your betting to! However, it is never a bad thing to compare services with other leading bookmakers. We advise that you pit these solutions up against Unibet payment methods to make sure you can be objective about who offers the best payment options for Aussies.

Betfair Withdrawal Times FAQ

💵 What Betfair payment methods are available?

Betfair offers you plenty of payment methods, including cards, e-wallets and more. Check out our Betfair review of payment methods to find out exactly which options are available to you.

✔ How does the Betfair verification process work?

Verifying your identity is essential to fully activate your Betfair account, either through automatic electronic verification on registration or by sending/uploading documents. To see how the process works, be sure to visit our Betfair review at Wetten AU.

💸 Can I use PayPal with Betfair?

PayPal is just one of the e-wallet methods available on Betfair Australia, but there are limits and restrictions – check out our Betfair Payment Methods article for all the details on alternative payment options!

💰 How long do Betfair withdrawals take?

The time for withdrawals depends on the payment method you use – generally, e-wallet withdrawals for cash out are faster than other methods. To find out the exact withdrawal times, see our Betfair payment methods guide at Wetten AU.

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