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FAVBET

Withdrawing Funds to FAVBET

How to withdraw funds from FAVBET?

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To cash out your winnings, you’ll need to top up your gaming account first. Begin by logging into your account. To be able to place bets, withdraw funds, and access live streams, you need to make a deposit.

The following deposit options are available:

  • VISA, Maestro, MasterCard
  • Skrill, Neteller, ecoPayz, MuchBetter
  • Bitcoin

Favbet processes deposit requests instantly. The minimum amount for card transactions is ₴50. If you opt for Bitcoin, the minimum amount increases to ₴300.

The same payment methods are available for withdrawals with slight differences in processing:

  • You can start a withdrawal from your Favbet account if the balance is at least ₴100.
  • The highest payout that you can withdraw at a time is ₴29900
  • The daily withdrawal limit is ₴150,000.

Withdrawals could take up to 24 hours, and a 1.5% fee applies for bank card transfers.

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How to Withdraw Funds from Favbet to a Card?

In Ukraine, Favbet only accepts bets through favbet.ua. It operates under the Commission for the Regulation of Gambling and Lotteries license. This means that only individuals aged 21 and over can place bets with Favbet.

As of now, the only method for withdrawing funds from Favbet is through bank cards (Visa or Mastercard). Here’s a guide on how to withdraw money from Favbet:

Verify your account if you haven’t done so. To do this, follow these steps:

  • Provide your passport or another document confirming your identity.
  • You can also verify your account using the “Diia” app or your bank ID
  • Data verification takes place on a first-come, first-served basis. You will receive a corresponding email upon completion of verification;
  • Once verified, you can withdraw funds to your card. Click on the “Withdrawal” tab, and enter your card number.
  • That’s it! Wait for your winnings.

According to the Tax Code of Ukraine, the player should pay tax payments in the amount of 19.5% of the winnings. The gambling organizer is acting as a tax agent and withholds and transfers tax payments to the relevant budget. Of this 19.5% tax collection, 18% goes as personal income tax, another 1.5% goes to military duty.

FAQ:

  • What is the maximum withdrawal limit on Favbet? The maximum limit per transaction is ₴29,900, and the daily limit is ₴150,000.
  • How long does it take to withdraw money from Favbet? According to Favbet’s support service, withdrawals take around 24 hours.

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