DraftKings Payment and Withdrawal Methods

• online banking
• credit/debit cards
• eWallets
• E-Check
• PrePaid DraftKings Play+ Card

If you prefer to deal with cash, you can go directly to a cashier at a land-based DraftKings sportsbook. Let’s take a closer look at your banking options at DraftKings.

DraftKings Deposits and Limits

DraftKings offers its services in nearly a dozen states, and that number is sure to grow as more states embrace legalized sports betting. Because DraftKings is bound by different rules and laws in certain states, things like available payment methods and limits may vary depending on where you live. One thing that DraftKings in all states have in common is that they don’t charge any fees for deposits or withdrawals. Keep an eye out for the eligibility of payment methods when using a DraftKings promo code. Refer to the table below to see the DraftKings payment methods, limits, and processing times.

Which Credit Cards and Debit Cards are Accepted?

DraftKings payment methods include Visa and Mastercard credit cards and debit cards. However, the credit card option is not available to residents of some states including Tennessee and Iowa. In some cases, issuing banks will not process transactions with betting sites. The good news is that those states accept debit card payments.

While there are minimum and maximum amounts that DraftKings sets on deposits, these amounts will also vary depending on the type of card you have. For instance, if your card has a $1,000 credit limit on it, your DraftKings maximum deposit cannot exceed that amount. You should also be aware that some credit card transactions at DraftKings may be subject to certain fees like cash advance charges.

Is PayPal Accepted?

Not only is PayPal accepted at DraftKings, but it is one of the better options. This is because PayPal facilitates instant DraftKings deposits and fast withdrawals. If you are in a state in which DraftKings does not accept credit cards, you can get around this by using your credit card to fund your PayPal account. Conversely, you can withdraw your DraftKings balance using PayPal and then have near-instant access to those funds through your credit or debit card. DraftKings usually processes PayPal withdrawals within 24 hours although they often do it much faster.

DraftKings Withdrawal Options and Transaction Times

DraftKings offers a lot more withdrawal methods than its rivals to fit the needs of all its customers. You can see from Oddspedia's BetRivers sportsbook review and BetMGM sportsbook review, that there are some big names behind DraftKings when it comes to payment methods. However, all withdrawal methods may not be available to you and are dependent upon your location.

Your first withdrawal at the DraftKings online sportsbook will require a two-factor authentication process associated with your email address and bank account. After completing this process you’re not asked to do so again moving forward. While some might not like the added step on this first withdrawal, I think it’s a nice additional level of security for your funds

DraftKings payout speed

An underrated feature of DraftKings Sportsbook is the many ways in which you can get paid and the payout speed. There are at least eight different payout methods which is one of the most you’ll find at any sportsbook in the US. Within those options, payout speed varies with some withdrawal methods requiring less than 24 hours to have your winnings, while checks can take up to seven business days.

One of the newest, and in my opinion, best ways to receive your money is taking advantage of the newer debit card withdrawal option. I’ve received my winnings within a few hours using this option. It’s a newer option as mentioned and only offered through a few top sportsbooks in the betting industry.

Payment Method FAQs

Here are some of the most commonly asked questions regarding DraftKings payment methods. Consult the site’s FAQs or contact support if you have a question that is not listed here.

Can I change the currency in my account?

No. Because DraftKings only caters to those in the United States, the US dollar is the only currency accepted for deposits, withdrawals, and betting.

Can I deposit with cryptocurrency?

Bitcoin and other cryptocurrencies are legal and accepted at many businesses, but DraftKings does not yet support them. The only way you can currently use crypto to fund your DraftKings account is by cashing it out to your PayPal account or bank account, and then depositing those funds into your DraftKings account.

Can I use different options to deposit and cash out?

You should use the same method to DraftKings withdraw option as you used to deposit. However, this isn’t always possible. If the payment solution you used to deposit is not one of the DraftKings withdrawal options, contact customer service and they will give you alternative DraftKings withdrawal options.

Can deposit and withdrawal limits be changed?

DraftKings lets you set your own limits to help you keep your gambling safe. You can raise or lower these limits in your account settings. DraftKings in some states can also raise your limits upon request. This is granted or denied on a case-by-case basis.

Conclusion

The number of DraftKings payment methods is by no means staggering, but it is on par with what other American-based bookmakers offer. There is definitely an option for everyone. Just having a bank account or debit card gives you a way to make deposits and withdrawals. So does having a PayPal account or DraftKings Play+ card. Those options offer even faster DraftKings withdrawal times. If you are limited to using the cash in your pocket, you can send it through a wire transfer or take it to a cashier at one of DraftKings’ retail outlets. You can also be certain that your withdrawals will be processed promptly and without any hassles. This is one of the benefits of betting with a regulated bookmaker like DraftKings.