Main Wallet System
When you deposit money into your account on our system, The money will be keep on your wallet automatically. Subsequently, The money into your main wallet will already to bet on all betting room no need to notify for transfer.
Exchange: What Are Wallets Used For?
Betfair was granted an Australian licence in February 2006. Under the terms of this licence, money wagered on Australian markets must be held by Betfair in Australia. As of August 2006, Betfair has introduced “wallets”, which are separate pools of money that you use to bet on either Australian or non-Australian markets. By creating wallets, Betfair is able to hold funds in Australia with which you can bet on Australian markets. When you register with Betfair, you are automatically set up with two wallets—an Australian wallet and a main wallet. Funds to cover a bet placed on an Australian market come from your Australian wallet, and bets on all other markets are funded from your main wallet.
These Are The Key Things To Know About Wallets:
When you deposit funds into to your Betfair account, the funds are automatically assigned to your main wallet. Once the funds are in your main wallet, you are ready to bet on all markets except Australian markets. In order to bet on Australian markets, you first need to transfer funds to your Australian wallet. To transfer funds to your Australian wallet, go to My Account, then click on the ‘Transfer Funds’ button. Enter the amount you wish to transfer, specify which wallet should receive the funds (in this case, your Australian wallet) and click the Make Transfer button. Funds are transferred without delay and are immediately available to bet with. Funds assigned to either the main wallet or Australia wallet are persistent, which means they will remain in the specified wallet until you transfer them to another wallet or withdraw them from your Betfair account. Winnings are paid into, and commission is deducted from the same wallet that was used to fund a bet. When withdrawing funds from your Betfair account, you can only withdraw funds in your main wallet. To withdraw funds from your Australian wallet, you must first transfer the desired amount (up to and including your total Australian wallet balance) to your main wallet. You can then withdraw the funds from your Betfair account via your main wallet.
When viewing a market, it is easy to see the balance of the applicable wallet that you may use to fund bets on this market. In the top right section of the site navigation, near your username, you will see two figures. ‘This Market’ is the amount you currently have in the wallet that applies to this market (e.g. if you are viewing an Australian market, the balance will reflect your Australian wallet). ‘Total Betfair Funds’ is the sum of funds in both your main wallet and Australian wallet.