A net withdrawal is the difference between the total withdrawals and deposits made within a specific period.
Net Withdrawals Explained in Details
The difference between the withdrawals and deposits you’ve made over time for a specific banking method such as Skrill, Neteller, or debit/credit card is referred to as the net withdrawal. Finding your net withdrawal figure is straightforward as you only need to minus the total deposits from the total withdrawals. The figure you get can be either a negative or positive number. Here are more details:
- Positive Net Withdrawals: You will have a positive figure if your total withdrawals are more compared to your deposits.
- Negative Net Withdrawals: You will have a negative net withdrawal if your total deposits exceed your withdrawals.
It is simple to obtain your net withdrawals if you’re using one payment method to process your transactions. On the other hand, the process can be tricky if you’re using two or more banking options, for example, an eWallet and Bank Transfer. If this is the case, you will have to balance your positive net withdrawals on these payment methods before completing the computing process.
Many top-rated online betting companies utilise a closed-loop policy to make life easier for you and other punters. The policy requires customers to use the same banking option when making both deposits and withdrawals. Some companies go a step further to allow you to view your net withdrawals anytime you need to. They have a dedicated page that instantly updates your net withdrawal figure anytime you deposit or request a withdrawal. Sportsbooks use the latest computer programs to provide you with your net withdrawal figure automatically.
Practical Examples of Net Withdrawals
If you make a deposit worth £300, wager the whole of this amount, win £600 and withdraw your winnings, the net withdrawals will be £300 (£600-£300). As you can see, the net withdrawal figure is positive. This example is for a bettor who has placed a single bet and won. You can obtain a negative withdrawal figure if you place bets across the week, depositing a total of £1000 and winning only £700. That means you will have a negative net withdrawal of £300.
If you use two different banking methods, let’s say you deposit £100 from your Visa Card and £200 from your Skrill account into your sportsbook of choice, the total deposits are £300. After making a few successful wagers, your sportsbook account balance increases to £1000, and you want to make a withdrawal worth £700.
Here, there are two ways: withdraw to your Visa Card or Skrill account. If you want to withdraw the £700 to your Skrill account, you will have to withdraw £100 to your Visa Card and £200 back to your Skrill account before you can obtain your net withdrawal figure. If you want to withdraw the amount to your Visa Card, you’ll need to do the opposite of this. Remember that each banking option you use will have a separate and unique net withdrawal figure because of the different deposit and withdrawal amounts you have made over a given period.