Afribet.ng
26.09.2023, 12:03
22.05.2024, 08:46
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Withdrawing Your Winnings: A Guide to Afribet Payouts

Afribet is Nigeria's leading digital sports betting platform, deeply rooted in the nation's vibrant sporting culture. Based in Abuja with expanding operations nationwide, Afribet is fast establishing itself as a powerhouse in the Nigerian sports betting arena.

With Afribet, indulge in various betting choices, from placing bets on individual events to amalgamating multiple wagers. Engage in spread betting on selected sports for potentially more significant returns, or feel the adrenaline surge with live betting during significant televised sports events.

Withdrawal Options at Afribet

Ensuring a seamless betting experience involves providing users with numerous secure and convenient payment options. Afribet has integrated various payment methods to facilitate easy deposits and withdrawals. Below are the available payment options:

VISA

Worldwide accepted card for secure and instant deposits.

MasterCard

Another globally recognised card that ensures immediate fund deposits.

InstantEFT

Electronic Funds Transfer (EFT) allows direct bank payments, ensuring your Afribet account is credited in real-time.

Interswitch

A Nigeria-based integrated payment and transaction processing company that provides a robust deposit channel.

Verve

A secure debit card accepted in many locations, it’s a handy option for instant deposits.

Flutterwave

A flexible payment solution that permits various payment methods, including card, bank transfer, and mobile money.

Each payment option is designed with the utmost security and convenience, ensuring that your Afribet transactions are performed confidently and easily. Check the terms and conditions associated with each payment method to understand the specifics of their operation.

Withdrawal Process:

  1. Login to Your Account:

Access your account by entering your username and password.

  1. Navigate to the Withdrawal Page:

Once logged in, go to the cashier or banking page and select the 'Withdrawal' option.

  1. Enter the Withdrawal Amount:

Input the amount you wish to withdraw. Ensure it is within the limits set by the platform and that you have enough balance in your account.

  1. Select a Withdrawal Method:

Choose your preferred withdrawal method (e.g., bank transfer, online wallets, etc.). Make sure the platform approves your chosen method for withdrawals.

  1. Provide Necessary Information:

Fill in the required details for the withdrawal method, such as bank account or e-wallet details.

  1. Submit Withdrawal Request:

Review the information provided and submit your withdrawal request.

  1. Await Confirmation:

You will likely receive a confirmation notification, often sent via email or SMS, confirming that your withdrawal request has been received.

  1. Undergo Verification (If Required):

Some platforms require additional verification to process your withdrawal. This step may involve submitting identification documents or answering security questions.

  1. Wait for Processing:

The platform will process the withdrawal. Processing time varies by platform and withdrawal method.

  1. Receive Funds:

Once processed, the funds will be transferred to your selected account or method. The time it takes for the funds to appear in your account will depend on the chosen method.

Payment to Account Credit Details

Taxation

Please note that your winning bets may be taxable according to law. Any applicable tax will be subtracted from your winnings, with the remaining balance paid to you.

Withdrawal Policy

Be informed that Afribet does not process withdrawals on weekends or public holidays. Withdrawals will be held until the necessary KYC documents are received and approved.

  • Funds from successful betting transactions will be credited solely to the customer's account. No transfer of funds between customer accounts is allowed.
  • Withdrawals can only be paid into a bank account registered in the customer's name.
  • The customer is solely responsible for monitoring their account balance regularly.
  • In the case of erroneous fund credit to an account, the customer must promptly inform Afribet. If such credited funds are used for betting, Afribet can nullify all transactions with the erroneously credited amount.

Error Reporting

To report any discrepancies, customers can send an electronic message to Afribet or contact them telephonically.

Withdrawal Processing

Customers agree that Afribet is only required to process withdrawal requests by depositing the requested amount into a bank account in their name. The processing of these requests may take up to 72 hours or more.

Any delay in fund transmission or reflection in the customer's bank account does not entitle the customer to make any claims against Afribet.

Terms and Conditions of Account Deposits and Withdrawals

Deposit Policy

Please note that Afribet will not accept any deposits made by cheque, whether in retail outlets or online. Afribet maintains the right to reclaim any funds credited to a client’s account in error.

Withdrawal Guidelines

Withdrawal requests are strictly for winnings. Should you desire to withdraw from your deposit balance, a 30-day waiting period is mandatory. Afribet holds the right to impose a 30% administration fee if less than 30% of deposited funds are used for placing bets before a withdrawal request.

Additionally, customers must wager at least 80% of their real money funds at odds of 1/1 or greater if credited with a deposit bonus, failing which any or all withdrawal requests may be cancelled.

Afribet will process withdrawal requests only after the total value of any used vouchers has been played through in total. Remember, your account with Afribet does not function as a bank account and, hence, is not protected by any deposit or insurance system. Monies deposited in your account do not attract any interest, and no credit is provided to your account.

Withdrawal Processing

All withdrawals will be remitted to the account provided by the user during the withdrawal request and may be subject to account holder details verification. Any transaction suspected of allowing money transfer from one payment predominantly to another may lead to the withdrawal request's cancellation.

To ensure compliance with relevant Anti Money Laundering Provisions, Afribet may undertake verification checks for any transaction, as required by regulatory bodies or ourselves. You may be requested to provide a copy of your ID, among other documents, for security checks during your first withdrawal request.

Audit and Compliance

All withdrawal requests will be subject to an audit before processing. Violating the Terms of Use may result in retracting any bonuses or winnings previously attributed.

Payout Timing

While QuickTeller transfer withdrawals are typically processed within 48 hours, ordinary bank transfer payouts are handled within 5 banking days. Afribet holds no control over bank-determined payment timing.

Deposit and Withdrawal Restrictions

Deposits and withdrawals come with certain restrictions, including a minimum 30-day hold period for Credit Card deposits before a withdrawal can be made. Afribet also reserves the right to limit or refuse bets and delay funds withdrawal for investigative purposes.

Withdrawal Review and Limits

Withdrawals are subject to clearance by Afribet’s Risk Department, which can take up to 5 business days. Withdrawal amounts may be limited per day, week, or month based on account activity, currency, and banking limits.

Identity Verification

For compliance with EFCC KYC Policy, a valid identification will be required to process any withdrawal request for winnings above N250,000. Acceptable forms of identification include a driver's license, international passport, national identity card, or voter's card. Provide the required document to prevent Afribet from withholding the winnings until validation.

Tax Responsibility

You are responsible for reporting your winnings or losses at Afribet and paying any resulting taxes, as your jurisdiction’s authorities mandated

FAQ

What is Afribet?

Afribet is a premier digital sports betting platform that provides instant and convenient access to various betting possibilities, both pre-event and in-play, deeply embedded in Nigeria's sporting culture.

What betting options does Afribet offer?

Afribet offers various betting options, including single bets on specific events, accumulators that tie together multiple wagers, spread betting on selected sports for potentially higher returns, and live betting during major televised sports showdowns.

Can I make deposits and withdrawals during weekends or public holidays?

Afribet does not process withdrawals on weekends or public holidays. All withdrawal requests will be processed after the relevant KYC documentation has been received and verified.

What is Afribet’s policy regarding cheque deposits?

Afribet accepts no cheque deposits or stakes in retail outlets. All deposits should be made through approved electronic payment methods.

Are there any restrictions on withdrawing from my deposit balance?

If you wish to withdraw from your deposit balance, a 30-day waiting period will apply. Withdrawals can only be made from winnings under normal circumstances.

How long does it take for a withdrawal to be processed?

Withdrawals may take up to 5 banking days if handled manually through an ordinary bank transfer. However, withdrawals through methods like QuickTeller are usually processed within 48 hours of the request.

What do I do if funds are credited to my account in error?

If funds are credited to your account in error, you must notify Afribet immediately. Afribet may void any transaction made with erroneously credited funds.

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