DraftKings Withdrawal Guide

How to Bet on Sports.

We understand that when it comes to sports betting, one of the most important aspects is the ability to withdraw your funds easily. If you use the DraftKings Sportsbook, you’ll want to learn more about DraftKings withdrawals. Here’s an overview of what you need to know about different withdrawal methods with the sportsbook.

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Making a Withdrawal from DraftKings Sportsbook

When it comes to withdrawing with DraftKings, there are several options available for users to receive their funds. These options for a withdrawal request include PayPal, online banking, check by mail, and cage pickup (if available at a retail location). It’s important to note that depending on the method you choose, there may be different processing times and fees associated with each option.

It’s important to consider DraftKings payment methods as well. Sometimes it is easier to use the same payment and withdrawal method. Also, some sportsbooks require the same method for withdrawal that you used to deposit. It’s usually safest to use the deposit method you plan to use for withdrawing money.

How to Withdraw Funds on DraftKings

The first step in withdrawing your funds on DraftKings is to log in to your DraftKings account and click on the “My Account” button in the top right corner of the homepage. From there, select “Withdraw” and choose the method you would like to use from the DraftKings withdrawal options. Follow the prompts to complete the withdrawal process and submit your request.

Keep in mind, withdrawal times may vary depending on the method chosen. The sportsbook might process withdrawals differently based on the type so remember this when requesting a withdrawal.

Debit Card Withdrawals

Depositing with a credit or debit card is common on sportsbooks. DraftKings does not support withdrawals to credit cards.

If a user decides to make a deposit with a debit card, they can withdraw using this method. It’s at the discretion of both the card brand and the issuer. DraftKings typically accepts Visa and Mastercard. Your saved card with DraftKings will have to support withdrawals. Verify with your bank or contact customer support if you have any questions.

PayPal Withdrawals

PayPal is a popular option for withdrawing from DraftKings for many users as it allows for quick and easy transfers to your PayPal account. As a bonus, there is no minimum withdrawal amount for PayPal and the processing time is typically within 48 hours. However, there is a maximum withdrawal limit of $2,000 per transaction.

To receive a withdrawal with this method, a PayPal deposit is required. The PayPal account also must be in your name.

Venmo Withdrawals

If you want to use Venmo as a withdrawal method, you will have to use it for your initial deposit. Venmo is not permitted in all locations and it must be in your name. The Venmo account also must be personal. It cannot be a business account.

Online Banking Withdrawals

You can deposit using online banking and also withdraw using this method. Connect your bank account for a quick process. Using your verified bank account for a deposit allows you to use the method for withdrawal.

Check by Mail Withdrawals

Check by mail is a traditional withdrawal option that may take longer than other methods, but it’s a good choice if you don’t have a PayPal account or a bank account that accepts online banking transfers. The processing time for check-by-mail withdrawals is typically within 7-10 business days and there is a minimum withdrawal amount of $15. However, there is no maximum withdrawal limit.

Cage Pickup Withdrawals

If you live near a retail location that offers cage pickup, you can withdraw your funds in person at the location. This option allows for instant access to your funds and there is no minimum withdrawal amount. This option might not be available at all retail locations.

Withdrawal Fees

It’s important to note that depending on the method you choose, there may be fees associated with your withdrawal. For example, there is no fee for withdrawing using a PayPal account. For a physical check, there is a $5 fee. Remember, for some methods, you are required to withdraw using the same method as your deposit.

Withdrawal Limits

As mentioned above, there are maximum withdrawal limits for certain methods of withdrawal. PayPal has a limit of $60,000 according to the DraftKings help center. If you have questions, reach out to DraftKings.

Also, you need to check which winnings are eligible for withdrawal. The sportsbook or casino might run promotions that involve bonus bets or offers. These might not be available to withdraw until a certain number of bets have been made. Offers may be subject to specific rules. Please refer to customer support.

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Wrap-Up: DraftKings Withdrawals

When it comes to DraftKings withdrawal, there are several options available to users. These options include PayPal, online banking, Venmo, Debit Cards, checks by mail, and cage pickup. It’s important to choose the method that works best for you based on factors such as processing time, fees, and withdrawal limits. Also, consider the method prior to deposit.

If you have any questions or issues with your withdrawal, please contact DraftKings customer support for assistance. You can also visit the DraftKings Help Center on the app or website. With this information, you can make a smooth and efficient withdrawal on DraftKings, ensuring that you can enjoy your winnings hassle-free.

DraftKings Withdrawal FAQs

How long does it take to process a withdrawal on DraftKings?

The processing time for withdrawals on DraftKings varies depending on the method chosen. PayPal and online banking withdrawals typically take within 48 hours and 2-5 business days, respectively. Check-by-mail withdrawals may take up to 10 business days, while cage pickup withdrawals are instant.

Are there any fees associated with DraftKings withdrawals?

Yes, depending on the method you choose there may be fees associated with your withdrawal.

Is there a minimum withdrawal amount on DraftKings?

Yes, there is a minimum withdrawal amount for check-by-mail withdrawals which is $15. However, there is no minimum withdrawal amount for PayPal, online banking, or cage pickup withdrawals.

What happens if my withdrawal is not processed within the estimated time frame?

If your withdrawal is not processed within the estimated time frame, it’s important to contact DraftKings customer support for assistance. They will be able to provide you with more information and help resolve any issues.

Are there any restrictions on where I can withdraw my funds?

No, there are no restrictions on where you can withdraw your funds. However, it’s important to note that some methods may not be available in certain locations.

WRITTEN BY

Sam Russell

Sam hails from Grandville, Michigan, and was Betsperts' first employee back in January 2019. He has a rich sports background, including playing baseball at Central Michigan before covering high school sports and working with the Orlando Magic. He earned his degree from Central Michigan University and was a member of the 2010 MAC Championship baseball team.

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