DraftKings Sportsbooks is one of the easiest betting sites and apps to withdraw your winnings from. If you have never done it before, you may be wondering how do you make a withdrawal?
- Can You Withdraw From Draftkings
- How To Withdraw Money From Draftkings Prepaid Card
- How To Withdraw Money From Draftkings
- How Do You Withdraw Money From Draftkings
- Withdrawals from DraftKings are generally smooth and seamless and we have never experienced any problems. To withdraw your money from DraftKings you click on the ‘my account' tab at the top right of your screen. You then click on the withdraw tab where you will enter the amount you want to withdraw along with your preferred method.
- Yes, DraftKings makes the withdrawal process simple by letting you withdraw funds at any time. Players can withdraw their funds with a check, PayPal, ACH, and cage pick up at a retail location. Also, people who withdrawal with PayPal might only be able to use PayPal if that's how they deposited money.
DraftKings is well-known globally for its daily fantasy sports (DFS) competitions. Customers regularly sign up with the DraftKings sportsbook so they can bet on their favorite sports and take part in the famous daily fantasy sports contests. However, what happens when you win, and it's time to access some of your excess money, and you wish to make a DraftKings withdrawal? You may be wondering ‘how does DraftKings payout?
You will be pleased to discover that making a DraftKings sportsbook withdrawal is a straightforward process. Indeed, a DraftKings withdrawal at the sportsbook is as simple as making a deposit. Creating a DraftKings account, funding that account, and then making a withdrawal request is an efficient process that is crucial for any sports betting site in the United States. You will need to make sure you verify your account before being able to make a withdrawal, and this may require you to send in documents.
Yes, DraftKings makes the withdrawal process simple by letting you withdraw funds at any time. Players can withdraw their funds with a check, PayPal, ACH, and cage pick up at a retail location. Also, people who withdrawal with PayPal might only be able to use PayPal if that's how they deposited money. You can withdraw your winnings from the account at any time, through most of the same methods. DraftKings has a casino partner in each state that gives bettors the freedom to withdraw in person.
If you aren't yet a customer of the sportsbook, you can join at sportsbook.draftkings.com and get a $1,000 free bet bonus! You can also claim some other free bets from US sportsbooks too!
So, you have entered your DraftKings promo code, used your deposit bonus, and now you want to cash out your winnings. This article covers the DraftKings payout structure, how you can access your winnings, and the runs you through the DraftKings withdrawal times.
How To Make Your First DraftKings Withdrawal
The nice part of betting is that moment when you have won, and you come to access the spoils of victory. Making a withdrawal at DraftKings sportsbook is straightforward; you can be set up and make a request with just a few clicks from the ‘my account' page. Below is a rundown of how this process works.
- Log in to your DraftKings account at sportsbook.draftkings.com
- Select My Account from the dropdown menu
- Select which account to withdraw from (Sports & Casino or DFS)
- Enter the amount you want to withdraw, then press continue
- Select how you want to receive your winnings
- Press the Request Withdrawal button
It's very easy to withdraw using the above method and this is the same on the mobile app or full site. Please note that the minimum withdrawal amount on the DraftKings sportsbook is $20. The first part of your withdrawal will be paid to the original source used for the deposit, with any surplus funds paid to a method of your choice, such as PayPal or Neteller.
When your request has been made, DraftKings will send you an official withdrawal confirmation. If you have entered the wrong amount or done something wrong, you can cancel the process. In this instance, make sure you cancel as soon as possible, so the withdrawal does not go through.
DraftKings offers help on its website via a frequently asked questions section. Alternatively, you can email their customer service team via support@draftkings.com.
If you continually face withdrawal problems from the sportsbook at DraftKings, you may also want to read our guide to DraftKings sportsbook alternatives.
Withdrawal Payment Methods Available at DraftKings Sportsbook
When you would like to begin the process of making a withdrawal from your account, DraftKings will automatically select the payment method that was used when you made your first deposit up to the amount of previous withdrawals. Any funds that are left are then paid via PayPal or Check. DraftKings requests that customers notify them if there have been any changes made to your original credit or debit card, which was initially used to fund your account.
Full list of available deposit options:
- Bank account
- Credit & Debit cards
- Prepaid DraftKings card (Play+)
- PayPal
- E-Check
- Casino cage
You can also check out our guide on using prepaid cards at DraftKings sportsbook. There is no stated DraftKings withdrawal limit; however, make sure you know documentation is needed for large withdrawals.
DraftKings is a very trustworthy and reputable daily fantasy sports website and sportsbook based in the United States. Consequently, players can be safe in the knowledge that they will receive their winnings quickly when it is time to make a withdrawal.
Withdrawal times
DraftKings state on their website that they can process withdrawals Monday to Friday between 9 AM to 5 PM ET. Once the withdrawal request has been processed, it can take anywhere from two to seven business days for the player to receive their money, depending on which payment option was selected. Checks can take longer to send out, typically taking approximately one week to be delivered in the post. Numerous DraftKings players have said they often get their money in a matter of days and sometimes within hours.
We have found it is best to request a withdrawal on a Monday morning. As you can imagine there are a lot of players winning and trying to withdraw over the weekend. If we opted to withdraw on a Monday, funds were normally with us in a couple of banking days.
Paying Taxes On Your Winnings
If you have won big on a daily fantasy sports contest or big bet, and the total money generated is above what has been deposited, these funds are subject to federal taxes in the United States. When you reach $600 in net profit during a calendar year, DraftKings Sportsbook and DFS site is required to issue a 1099 and will be reported to the IRS. Any net profit that falls below the figure of $600 will not be reported. However, players are still legally required to report this extra income on their taxes.
FAQs
How long does DraftKings withdrawal take?
The DraftKings sportsbook states that once their accounts department has processed your withdrawal, it can take between 2-8 business days for the funds to appear in your PayPal or bank account. Checks can take longer, sometimes up to three weeks. You could do a FanDuel Vs. DraftKings comparison on banking methods if you are unsure of which sportsbook to use.
Why does DraftKings refund my money for withdrawal?
Where possible, DraftKings will first refund any deposits made within the last 90 days. Contact the operator directly if there is a DraftKings sportsbook withdrawal hold.
How Long does DraftKings PayPal withdrawal take?
If you use e-wallets such as PayPal or Neteller, you should receive your money within 2-8 days. Players have reported receiving their funds in a shorter period, sometimes within hours. If there are any DraftKings withdrawal issues in 2021, you can contact the sportsbook directly.
.Reward tiers are as follows: $3, $10, $100 and $500 are awarded as site credits and can only be used on DraftKings. $1,000, $10,000 & $25,000 are issued. This is standard operating procedure for daily and traditional sports betting sites, and is one of the requirements for DraftKings, and sites like it, to stay in business. Similar to the lottery, profits are taxed, and that's the way it has been forever.
What do you get the sports-mad fan who has everything? Well, that's easy……….the DraftKings Sportsbook Gift Card.
If you continually face withdrawal problems from the sportsbook at DraftKings, you may also want to read our guide to DraftKings sportsbook alternatives.
Withdrawal Payment Methods Available at DraftKings Sportsbook
When you would like to begin the process of making a withdrawal from your account, DraftKings will automatically select the payment method that was used when you made your first deposit up to the amount of previous withdrawals. Any funds that are left are then paid via PayPal or Check. DraftKings requests that customers notify them if there have been any changes made to your original credit or debit card, which was initially used to fund your account.
Full list of available deposit options:
- Bank account
- Credit & Debit cards
- Prepaid DraftKings card (Play+)
- PayPal
- E-Check
- Casino cage
You can also check out our guide on using prepaid cards at DraftKings sportsbook. There is no stated DraftKings withdrawal limit; however, make sure you know documentation is needed for large withdrawals.
DraftKings is a very trustworthy and reputable daily fantasy sports website and sportsbook based in the United States. Consequently, players can be safe in the knowledge that they will receive their winnings quickly when it is time to make a withdrawal.
Withdrawal times
DraftKings state on their website that they can process withdrawals Monday to Friday between 9 AM to 5 PM ET. Once the withdrawal request has been processed, it can take anywhere from two to seven business days for the player to receive their money, depending on which payment option was selected. Checks can take longer to send out, typically taking approximately one week to be delivered in the post. Numerous DraftKings players have said they often get their money in a matter of days and sometimes within hours.
We have found it is best to request a withdrawal on a Monday morning. As you can imagine there are a lot of players winning and trying to withdraw over the weekend. If we opted to withdraw on a Monday, funds were normally with us in a couple of banking days.
Paying Taxes On Your Winnings
If you have won big on a daily fantasy sports contest or big bet, and the total money generated is above what has been deposited, these funds are subject to federal taxes in the United States. When you reach $600 in net profit during a calendar year, DraftKings Sportsbook and DFS site is required to issue a 1099 and will be reported to the IRS. Any net profit that falls below the figure of $600 will not be reported. However, players are still legally required to report this extra income on their taxes.
FAQs
How long does DraftKings withdrawal take?
The DraftKings sportsbook states that once their accounts department has processed your withdrawal, it can take between 2-8 business days for the funds to appear in your PayPal or bank account. Checks can take longer, sometimes up to three weeks. You could do a FanDuel Vs. DraftKings comparison on banking methods if you are unsure of which sportsbook to use.
Why does DraftKings refund my money for withdrawal?
Where possible, DraftKings will first refund any deposits made within the last 90 days. Contact the operator directly if there is a DraftKings sportsbook withdrawal hold.
How Long does DraftKings PayPal withdrawal take?
If you use e-wallets such as PayPal or Neteller, you should receive your money within 2-8 days. Players have reported receiving their funds in a shorter period, sometimes within hours. If there are any DraftKings withdrawal issues in 2021, you can contact the sportsbook directly.
.Reward tiers are as follows: $3, $10, $100 and $500 are awarded as site credits and can only be used on DraftKings. $1,000, $10,000 & $25,000 are issued. This is standard operating procedure for daily and traditional sports betting sites, and is one of the requirements for DraftKings, and sites like it, to stay in business. Similar to the lottery, profits are taxed, and that's the way it has been forever.
What do you get the sports-mad fan who has everything? Well, that's easy……….the DraftKings Sportsbook Gift Card.
The DFS provider turned sports betting operator has just launched a brand new gift card to be used on their sportsbook platform.
If you are a regular participant in Daily Fantasy Sports competitions, it is likely you have used or are using the DraftKings website, or mobile app. If you are someone who prefers to purchase a physical card for digital platforms such as video games, you can now do the same for online casinos and sports betting sites where it is legal. The DraftKings gift card online provides the same service for internet gambling.
DraftKings Sportsbook is one of the biggest sportsbooks in the United States, along with FanDuel. By introducing gift cards, DraftKings will now have the opportunity to grow its brand. Numerous retailers are now offering DraftKings gift cards to customers. Is it the perfect gifto give when you haven't got a clue what to buy someone?
For example, the IN online sports betting industry features DraftKings, so players in Indiana can purchase a DraftKings sportsbook gift card. For anyone who is a regular sports bettor, a DraftKings gift card from Walmart could make the perfect holiday present. These retail gift cards are the first to launch in the online gambling market. There is no other prepaid card out there that features a company's branding.
Draftkings Sportsbook And Casino
Where To Buy DraftKings Gift Cards
You have likely come across different gift cards for various brands in retail stores. The retailers sign partnerships with finance companies such as InComm Payments to attract customers in that way. Players can also purchase an InComm card and add funds to their gaming account and top it up that way. DraftKings gift cards will be available to buy at locations such as:
- 7-Eleven
- Dollar General
- Sheetz
- Speedway
Although DraftKings sportsbook is the first gambling operator to striker a deal of this nature, many brands already accept prepaid cards as a means to deposit. Using a prepaid card at DraftKings is already possible through payments with the Game On card.
The gift cards currently come in two denominations; $25 and $50. They can only be used once and are only available on a retail basis. Once the gift card has been activated, a DraftKings customer can use it to enter into daily fantasy contests, play casino games, or bet on sports on their sports betting app.
The gift cards will be available to purchase nationwide, but bear in mind the digital products DraftKings offer online will be subject to local regulations. For example, anyone in New York who can access the NJ sports betting industry can use the cards on online sportsbooks and also the DraftKings casino.
Can You Withdraw From Draftkings
Alternatively, if you are struggling to find somewhere that has a DraftKings gift card, you could search for ‘DraftKings sportsbook gift card near me' to see if there is a suitable location. As we mentioned above, the DraftKings gift card would make the perfect holiday present among other fantasy sports gifts. DraftKings has a presence on many NFL betting apps, and new customers can also access welcome offers such as free bets.
The use of these gift cards also must follow stringent regulations regarding responsible gambling. This is similar to using a credit or debit card to fund DraftKings accounts. In terms of players collecting their winnings, DraftKings withdrawal times vary depending on which payment method you choose.
You may also want to read: FanDuel Sportsbook vs. DraftKings Sportsbook and you can learn more about the new Game On Card – the latest sportsbook gift card to hit the market.
Withdraw Draftkings Sportsbook Advice
How Gift Cards Comply With Responsible Gambling
Every jurisdiction with a regulated online gambling industry has programs tailored for individuals with gambling issues, such as self-exclusion lists. The retailers that stock and sell gift cards don't have these programs in use to stop selling them to anyone who appears on a list; however, DraftKings deal with that themselves.
Upon the news of the DraftKings gift card, a spokesperson for the company said they take responsible gaming measures 'seriously.' The spokesperson also added that releasing a gift card 'does not bypass any of the controls in place' surrounding their responsible gaming measures. DraftKings has been keen to stress that this gift card is just another payment method, and the usual controls in place will apply.
For bettors who tend to use cash over digital banking methods, the news of an available gift card is positive. With the rules and regulations around responsible gambling, a gift card is another option to convert that money into funds for entertainment. So go Make It Reign.
Draftkings Sportsbook Download
DraftKings Sportsbook Gift Card FAQs
How To Withdraw Money From Draftkings Prepaid Card
What states can you wager in using the DraftKings sportsbook gift card?
Sports betting is not legal in all US states and you can only bet using the gift card in the following states: New Jersey (NJ), Indiana (IN), Illinois (IL) Pennsylvania (PA), West Virginia (WV), Colorado (CO), Tennessee (TN), & Iowa (IA).
Who sells DraftKings gift cards? Play free online horse betting games.
How To Withdraw Money From Draftkings
DraftKings has partnered with InComm Payments to provide $25 and $50 gift cards for customers. They will be for sale t numerous convenience stores such as:
- 7-Eleven
- Dollar General
- Sheetz
- Speedway
How Do You Withdraw Money From Draftkings
Additionally, they will be able to buy in pharmacies and general merchandise retailers. Make sure you check which stores have them before making a trip to buy one.
What can I use the DraftKings gift card for?
The primary function of a DraftKings gift card is for customers to add money to their DraftKings sportsbook (or DFS) accounts. It is a convenient way to add funds before you start betting on sports or if you want to play some slots at the DraftKings online casino.
