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DraftKings Payment Methods & Withdrawal Times

Last Updated on 04/04/2024

DraftKings Withdrawal Times

draftkings sportsbook reviewsOne of the biggest concerns for players, understandably, is, if I manage to win can I easily withdraw my winnings. And we examine this in detail. So, this guide to Draftkings withdrawal times will cover everything you need to know.

Whether you’ve heard stories about the one hour withdrawal of cash @ the cage or are a PayPal all the way kind of player, we will cover everything from limits, fees, withdrawal times plus we’ve also included some common problems and the best resolutions - you’re welcome. This really is an all you need to know kind of article.

How to withdraw from Draftkings

Getting hold of your winnings should be a simple process, but unfortunately that is not always the case. For that reason, this guide will take you through the process step by step, to give you the best chance of getting your money in the shortest DraftKings withdrawal time possible, starting at the very beginning.

Draftkings PayPal Withdrawals

If you are withdrawing to a PayPal account then you should expect to see your funds within 2 days, you must have made a deposit using this same PayPal account and it must be in your name. There is a maximum withdrawal limit of $60,000 to PayPal accounts.

Draftkings Bank Account Withdrawals

DraftKings bank account withdrawals can take up to 5 business days, you must have made a prior deposit from the same bank account and it must be in your name. The maximum withdrawal amount to bank accounts is a whopping $100,000.

Draftkings Debit Card Withdrawals

Debit card withdrawals are only available if withdrawals are supported by both the card brand (Visa etc) and payment issuer (your financial institution). If the card you want to withdraw to is not showing then this means you cannot withdraw to it. To be able to withdraw to any debit cards you must have also first made a deposit from that same card.

You’ll need to make sure that you have fulfilled any bonus or DraftKings sportsbook promo code wagering requirements, so the funds are OK to withdraw. If this is not the case, then you need to get on to customer service to see what the problem is, and get it cleared up.

Step 1.

Log into your draftkings account

Step 2.

Go to your account dashboard (this is top right on desktop or go to ‘settings’ top left on the app) and click on ‘Withdraw’.

Step 3.

Click ‘got it’ to indicate you know what you’re doing

Step 4.

On the withdrawal page, enter the amount you wish to withdraw

Step 5.

Select how you wish to receive funds

Step 6.

Click withdrawal and wait for your funds. How long it takes will depend on your chosen withdrawal method.

What is the DraftKings withdrawal time?

As you can see from the table below, ‘cash at casino cage’ in New Jersey takes an hour, and a check in the post will take considerably longer (three to Fourteen days), depending on how much you are withdrawing. All of the other DraftKings withdrawal options should be processed within five business days (so effectively a week), but this can be subject to a few qualifying factors. See the below table for a complete breakdown of withdrawal times.

Withdrawal MethodTime in Business Days
Online BankingUp to 5 Days
VIP Preferred (e-check)Up to 3 Days
PayPalUp to 2 Days
Debit Card1 Day
Cash/Cage1 Hour
VenmoUp to 2 Days
Play+ Prepaid CardUp to 4 Days
Trustly Verified Withdrawals1 Day
Apple Pay1 Day
Bank WireUp to 2 Days
ChecksBetween 3 - 14 Days depending on the amount

The fastest way to withdraw from Draftkings is via the cage where you can collect cash in person, however this is only available in 6 states across the US and only in one place in each of those states so it's not the best option for everyone. Following that the next fastest is Debit card, Apple Pay or Trustly all of which only take one business day.

Is there a DraftKings withdrawal limit?

Looking first at online banking, there is only a $1 minimum amount, but a maximum limit of $100,000 on your withdrawal which you should see within three to five days. Exactly the same applies to a VIP Preferred e-check but Play+ is typically one day faster (but has a ceiling of $25,000). PayPal has a $60,000 upper limit, and a minimum of just $1, which you should see in your account in two days.

This just leaves wire transfers, which only take 24-48 hours but have a minimum withdrawal amount of $10,000 (unless it’s your first time in which case it’s $20,000). As you can see this range offered by DraftKings is quite flexible, provided you follow the rules.

MethodMinimum WithdrawalMaximum Withdrawal
Online Banking$1$100,000
VIP Preferred (e-check)$1$100,000
PayPal$1$60,000
Debit card$1$25,000
Cash @ CageNone$100,000
Venmo$1$20,000
Play+ Prepaid CardNone$25,000
Trustly Verified Withdrawals$1$100,000
Apple Pay$1$25,000
Checks$15Up to $49,999
Bank Wire$20,000N/A

Does Draftkings have instant withdrawal?

If you live by one of the 6 cage locations listed below then you can withdraw your funds in cash within just one hour.

  • TPC Scottsdale. Scottsdale, Arizona.
  • Bally's Black Hawk. Black Hawk, Colorado.
  • Resorts Casino. Atlantic City, New Jersey.
  • The Brook. Seabrook, New Hampshire.
  • Filotimo Casino. Dover, New Hampshire
  • Wild Rose Casino & Resort. West Des Moines, Iowa.

Failing that Draftkings ability to provide instant payout is at the discretion of both your card brand and payment issuer. If you can’t see the option it is probably because your card or issuer hasn’t approved instant payout withdrawals for DraftKings.

Tracking your DraftKings withdrawal

So you can keep an eye on what is happening and when, DraftKings have a withdrawal tracker to show you the status of your withdrawal, so you are not looking at your account every hour to see what is going on. It is here you can see if things have stalled or there is a problem.

Who do you contact about your DraftKings withdrawal?

If you have a problem, your first stop should be the FAQs page; this is likely to clear up any obvious problems you have come across, like not checking how long it could take. You can also message customer support, who will get back to you with more details. Although if there is a hold up with verification problems, they might get in touch first.

Draftkings Withdrawal Fees

Draftkings doesn’t charge any withdrawal fees for any of its methods in any of the states. If you do incur charges then these could have been added by your banking institution and it is worth checking with them.

What are the different DraftKings withdrawal options?

Like any good sportsbook or casino, DraftKings wants to give customers as much choice as possible. So, to look at the withdrawal options we need to first look at how you deposited your money in the first place.

PayPal
VIP Preferred
Play+
Discover
Bank Transfer
+ 4

You won’t be surprised to find that there are more deposit methods than withdrawal methods. There are online banking and card payments (via Visa, Mastercard and Discover and gift cards) as well as options for Pay+ and VIP Preferred. You can pay with PayPal if you want as well as wire transfer or by depositing cash at a local retail outlet. This was the easy part, but when it comes to withdrawing there are some other criteria to fill:

Online banking at DraftKings

As with deposits, DraftKings withdrawal to bank accounts is the recommended method to get your money. You will need to have made a prior deposit and you will need to enter the same details as you did for that deposit before a withdrawal can take place.

Play+ at DraftKings

It’s much the same for Play+ where a prior deposit makes things easier, and you’ll have to have your card connected to your account.

VIP Preferred at DraftKings

This e-check option again is accessible by using details you entered when making your deposit, and is linked to your bank.

PayPal at DraftKings

The PayPal account must be in your name and linked to a verified bank account. This will have all been checked if you deposited this way in the first place, and you cannot withdraw to a business PayPal account.

Cash at cage at DraftKings New Jersey

You can request to collect your funds in person if you are with DraftKings New Jersey and this is ‘instant’ (realistically an hour) if the balance is withdrawable.

Other withdrawal options

You can also request a payment via wire transfer or via check in the post, but it can only be sent to the name and address you have on file with DraftKings.

Draftkings withdrawal issues

Although Draftkings have given numerous ways to withdraw your funds, none of which incur a fee, there is still a chance you may run into some difficulties. We’ve listed some of the most common issues below and included the best solution.

  • Your debit card is greyed out. Not all debit cards are eligible for withdrawals, both the brand and payment issuer must support this. If this is the case you will need to select a different method or contact customer support.
  • Your funds are taking longer than expected. Requested withdrawals made after 2pm will be processed the following day. Also, remember that the 5 days are business days so any weekends or public holidays will extend this. You can always track your funds in the tracker and contact customer support if it's still taking too long.
  • Your debit card has expired. Generally this is not an issue, if the account number is still the same then you should be able to withdraw to your new card however if the account number has changed then you need to contact Draftkings customer support before requesting your withdrawal.
  • Your withdrawal has been cancelled. There can be various reasons why your request has been cancelled including, not having met the playthrough requirement - only winnings can be withdrawn and not deposited funds, the address information in your account is incorrect, you’re trying to withdraw bonus funds which again will need to have been played through before they become eligible for withdrawal.

Other things to consider with DraftKings withdrawal options

As you can see, making a deposit using a certain method is key to an easy withdrawal, but there will be occasions when you might have won more than you deposited, and want to withdraw it all. This can be good news, but also problematic if you have deposited by credit card.

Before you can use another method, you would have to pay back what you have deposited using your credit card. This might sound complicated, so is best illustrated with a quick example. Say over the last three months you have made deposits totalling $100 from your credit card. If you want to withdraw $120, the first $100 needs to go back to the credit card and only the last $20 can be banked.

Conclusion – plenty of choice with DraftKings withdrawal options

After reading this short guide you have everything you need to know to make a withdrawal for DraftKings as quickly as possible. You will know that you can save so much time by checking you have documents ready to upload and you have met all wagering requirements. You will also know that the whole process runs more smoothly if you withdraw using the same method you deposited with, as well as the withdrawal time and limits involved.

Now you have seen the value of this online guide, you should also check out our reviews of the DraftKings operation in your state, as well as other operators you’re interested in.

DraftKings withdrawal time FAQ

🏦 What is the DraftKings withdrawal time?

The withdrawal time for getting your money will depend on which of the DraftKings withdrawal methods you used. For instance if you choose the cash cage method this takes just 1 hour whereas bank transfers can take up to 5 business days. To get a full breakdown of the entire process, check out our online guide.

💰 What are the DraftKings withdrawal options?

Operators like to offer a lot of deposit options, but this is not always the case when it comes to withdrawals. However Draftkings have not shied away here - there are 11 different methods including debit card, bank transfer, PayPal, Trustly and Apple Pay. To see what your options are for DraftKings withdrawal methods, check out our short online guide.

🪙 Is there a DraftKings withdrawal limit?

Before you can request a withdrawal, there are a number of things you need to know, including how much you can take out in one go and whether there is a withdrawal limit attached to any sportsbook promotions you are using. The withdrawal limits range from $20,000 for Venmo to $100,000 for Trustly, Cash @ Cage, E-check and online banking. To see the full list of limits as well the DraftKings withdrawal time and methods, check out our online review.

.

💵 Can I withdraw cash from DraftKings?

You may have heard that the shortest DraftKings withdrawal time is for cash, but this is only able to be done at 6 different locations across the US. The only states are Arizona, Colorado, New Jersey, New Hampshire, Iowa. Our latest guide has the full details on where each of these places is located. 

💳 Can I withdraw to my credit card at DraftKings?

There are many methods available, like DraftKings withdrawal to bank accounts and PayPal, but Draftkings does not support withdrawal to credit cards. To find out the details of all the withdrawal options check out our online review, as well as other key details such as the latest DraftKings promo code to use.

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