DraftKings Sportsbook is one of the best online sportsbooks for US punters, available in over two dozen states. Let's go into detail now on what payment methods are available, what restrictions and limits exist, and how new users can make a deposit after signing up with the DraftKings Sportsbook promo code.
Banking at DraftKings Sportsbook
At DraftKings, you can make deposits or withdrawals from your computer or on mobile. It doesn't even matter where you deposit from. For example, if you are usually playing in Colorado, but you are on a trip to New Jersey, you can make your deposit from the Garden State, or in any of the other DraftKings legal states without any restrictions using any of the available DraftKings sportsbook deposit methods in that state.
You can download the DraftKings sportsbook app to register from anywhere you like. Withdrawing is the same – it can be done from anywhere as long as you have a verified account on the platform.
You can't withdraw if you haven't verified your identity and payment methods. You can do that on the DraftKings platform, but if you aren't sure how you can always contact their support team and ask where to provide the necessary documents to verify your payment method and other personal information.
Available DraftKings Sportsbook Payment Methods
The list of available deposit methods at DraftKings is long and should be able to satisfy your needs. Here are all the available deposit methods that DraftKings supports:
- Online banking (most major banking institutions)
- VISA, MasterCard, and Discover cards (credit or debit)
- VISA, MasterCard, and Discover electronic gift cards
- Pre-purchased DraftKings gift card
- PayPal
- Play+ pre-paid card
- Cash @ casino cage or barcode at participating retail locations
- VIP Preferred E-check
- Wire transfers only via MVB Bank
Some of these methods have limits though. For example, you can't deposit more than $500 per day vi cash at a retail location. Once you are there, you need to select “cash” on the deposit screen and use the barcode created to deposit at any retail location, like CVS Pharmacy, Family Dollar, 7-Eleven, and Dollar General.
Also, wire transfers are a little bit different because you can only deposit if it's more than $100 per transaction. Using any of the other deposit methods should be straightforward and there shouldn't be any major restrictions or limits.
Depositing funds via any of these methods is free of charge, but if you do encounter such a charge, you should check and see if your banking institution charges for deposits or withdrawals for sports betting because some do.
How to Deposit with DraftKings Sportsbook
The deposit process at DraftKings can be done anytime, including right after creating your account. Of course, the welcome bonus at the platform can have limits regarding the timeframe in which you have to make your first deposit, so you should read the terms and conditions before you decide how long you want to wait.
If all payment methods are eligible for the welcome bonus, see the terms and conditions of the bonus. Then, follow these steps to make a deposit on the platform:
- Log into your account
- Next, you should click on the “Deposit” button
- Then you need to choose a payment method from the list
- Then, you should enter the payment method details on the screen
- Enter how much you want to deposit
- Finish the transaction
Available DraftKings Sportsbook Withdrawal Methods
Withdrawing is also a fast process, like deposits, but there are a few things you should be aware of. Here is a list of the available withdrawal methods:
- Online banking
- PayPal
- VIP Preferred e-check
- Wire transfer
- Cash @ Casino cage in New Jersey
- Checks
Withdrawal Options Limits
Each of these methods has a different DraftKings Sportsbook withdrawal limit, but all requests are processed within five business days depending on the method used. Most withdrawal methods don't have a minimum limit, but there are exceptions. For example, the minimum wire withdrawal is $20,000 the first time and $10,000 the second and any other time. Also, Checks have a minimum withdrawal of $15 and PayPal's minimum limit is $1.
The maximum limits are for all methods. For example, VIP Preferred e-checks, cash @ cage, and online banking have a maximum withdrawal of $100,000. Play+ pre-paid cards have a maximum limit of $25,000, checks have a maximum limit of $50,000, and withdrawals via PayPal have a maximum limit of $60,000. Only wire transfers don't have a maximum withdrawal limit.
DraftKings Sportsbook Withdrawal Options Timeline
There is also a specific timeframe in which you can receive your withdrawal if your account is verified. The fastest is a cash withdrawal at the casino cage, but you have to request it online beforehand and you will receive an appointment to pick up your cash within an hour of the request.
The second-fastest method is Play+ pre-paid cards, which take from two to four business days. PayPal, online banking, and VIP Preferred e-checks take from three to five business days. Wire transfers are also fast and take from 24 to 48 hours to complete. The slowest method is physical checks.
- Checks under $100 are sent via USPS Priority Mail and are delivered anywhere from five to seven business days.
- Checks between $100 and $1,999 are sent via USPS with tracking enabled on USPS' website and take up to five business days to deliver.
- Checks above $2,000 are sent via FedEx and take up to three business days to deliver. You can track the envelope via FedEx's website.
DraftKings Sportsbook: How to Withdraw?
Making a withdrawal request shouldn't take more than a few minutes, but after that, you have to wait for the request to be approved and the funds to be sent and delivered via the method you chose. DraftKings doesn't charge any fees for withdrawing funds via any of the available methods in any state.
If any fees are in your statement, check if your banking institution charges fees for gambling transactions because some do. If you haven't verified your account, we advise you to do it before placing a withdrawal request. If you haven't that can be the main reason why you have to wait so much.
If you have any DraftKings Sportsbook withdrawal issues or are wondering how you can activate and verify your account, you can contact a Support clerk via their live chat or other available methods. You should also know that if you want to withdraw via a specific method different than your deposit method, you will have to provide documents that verify it belongs to you, same as any other new method you use for deposits or withdrawals even if you already verified your account.
