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18.08.2023, 05:32
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N1Bet Withdrawal: Cashing Out Your Winnings with Confidence

N1Bet, an emerging platform for online betting enthusiasts, offers a variety of payment options to cater to its broad user base in Nigeria. Knowing your options and the limits set by N1Bet can make your betting experience smoother.

In this article, we’ll take a deep dive into the withdrawal methods available and the limits set by the platform.

N1Bet Withdrawal Limits

Before diving into the methods, it's essential to understand the withdrawal boundaries set by N1Bet. The team has made provisions for both low and high rollers:

  • Minimum Withdrawal: 4,500 Naira
  • Maximum Withdrawal: 250,000 Naira

N1Bet Payment Systems

The flexibility of N1Bet's withdrawal methods is evident in its collaboration with leading payment providers. Here are the options available to users:

USSD by Flutterwave: A quick and secure method that uses Unstructured Supplementary Service Data. It's mainly beneficial for users without internet access.

  • Visa QR by Paystack: Utilizing the Quick Response (QR) codes provides an innovative and easy way to complete transactions using Visa cards.
  • Card by Paystack: A standard and widely used method allowing users to withdraw funds directly to their credit or debit cards.
  • Card by Flutterwave: Another option for card users, this method is facilitated by Flutterwave, ensuring secure transactions.
  • Bank Transfer by Flutterwave: Ideal for those who prefer direct bank transfers, this method is both reliable and efficient.

N1Bet  Nigeria Supported Banks:

N1Bet’s compatibility with many Nigerian banks ensures users have multiple transaction choices. Here's a breakdown:

Most Popular Banks

  • Zenith Bank
  • Access Bank
  • United Bank for Africa
  • Guaranty Trust Bank
  • First Bank of Nigeria

Other Banks

  • Diamond Bank
  • Ecobank Nigeria
  • Fidelity Bank
  • First City Monument Bank
  • Globus Bank
  • Heritage Bank
  • Jaiz Bank
  • Keystone Bank
  • Kuda Bank
  • Paga
  • Parallex Bank
  • Providus Bank
  • Polaris Bank
  • Stanbic IBTC Bank
  • Standard Chartered
  • Suntrust Bank
  • Sterling Bank
  • Unity Bank
  • Union Bank of Nigeria
  • VFD Microfinance Bank
  • Wema Bank

Withdrawal Time and Conditions

Withdrawals on N1Bet typically fall within a 24 to 48-hour window, ensuring users can access their winnings in a reasonably short time frame. However, it's crucial to note that N1Bet mandates a Know Your Customer (KYC) procedure for all its users to maintain a secure and transparent platform.

This step involves verifying the identity of each user to prevent fraudulent activities and maintain the platform's integrity. As such, users are advised to complete the KYC process promptly to ensure smooth and timely withdrawals.

General N1Bet Payments Terms and Conditions

  • Withdrawals: These should be requested to the account holder's account associated with recognised financial institutions or their permitted entities. Ensure that the details provided to N1 Bet Sports are accurate for seamless withdrawals.
  • Account Usage: Third parties should not access or use the N1 Bet Sports Account for deposits or withdrawals. Account holders are accountable for adhering to this directive.
  • Wagering: Bets will only be accepted by N1 Bet Sports if the account holder has adequate funds for the wager or if the necessary amount is provided in a sanctioned manner.

Handling Account Balances: N1 Bet Sports will:

  1. Deduct wagers made or as specified during games.
  2. Transfer funds from the account upon the holder's request, in compliance with RemoteGaming Regulations section 37.
  3. Address bank charges related to deposits and withdrawals.
  4. Operate in alignment with the Remote Gaming Regulations.

Note: Account balances can go negative due to chargebacks.

  • Withdrawal Mechanism: N1 Bet Sports facilitates withdrawals to the account holder or a bank account in their name. Withdrawals will mirror the account used for deposits.
  • Premature Withdrawals: If funds are withdrawn before they are wagered, N1 Bet Sports can decline the withdrawal until they are fully wagered.
  • Deposit Limits: Depending on the payment method, minimum and maximum deposit constraints might exist.
  • Administrative Costs: N1 Bet Sports might levy withdrawal charges, as their website mentions.
  • Jurisdictional Restrictions: Betting online might be prohibited in some regions. Account holders should not use cards for bets if so.
  • Participation Clause: Engaging in services in restricted jurisdictions won't influence any stakes or payment made in favour of N1 Bet Sports.
  • Monitoring: N1 Bet Sports and Regulatory bodies might scrutinise all transactions to counteract money laundering. Any dubious transactions will be reported.
  • Tax Obligations: Account holders are solely responsible for addressing any taxes on prizes, where relevant.

FAQ

How can I deposit funds into my N1 Bet Sports Account?

Deposits can be made using your card or through an account, you've set up with one of the recognised financial institutions or their authorised entities.

How do I request a withdrawal from my N1 Bet Sports Account?

Withdrawals should be directed to your account associated with recognised financial institutions or their permitted entities. Ensure the details provided for withdrawals are accurate.

Can someone else deposit or withdraw from my N1 Bet Sports Account?

No. Third parties should not access or use your N1 Bet Sports Account for either deposits or withdrawals. It's your responsibility to keep your account details secure.

When can I place a bet on N1 Bet Sports?

Bets are accepted only if you have sufficient funds in your N1 Bet Sports Account or provide the necessary amount in an approved manner.

How are withdrawals processed?

N1 Bet Sports typically sends withdrawals to the account holder or a bank account in their name. Withdrawals will mirror the account from which deposits were made.

Can I withdraw my deposited funds without wagering them?

If you attempt to withdraw funds before they are wagered, N1 Bet Sports reserves the right to decline the withdrawal until the funds have been fully wagered.

Are there any charges for withdrawals?

N1 Bet Sports might levy withdrawal charges, as indicated on their website. Make sure to check the specific terms and fees before initiating a withdrawal.

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