When you want to withdraw your winnings, you’ll want to know everything in advance so there are no hold ups and you can get your hands on your money quickly, so we have created this guide to DraftKings withdrawal time.
We will take you through all of your options for deposit and withdrawals, so you can pick the fastest, as well as what you need to do before you even request your withdrawal in the first place. So, if you want the lowdown on all the DraftKings withdrawal options and how long they take, read every word of this guide.
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.
What to do before you request your withdrawal
First thing’s first, we need to look at what you need to do before you even go to your dashboard and click on withdraw. Top of the list here is making sure your account is verified. To do this you will need some forms of ID such as your driver’s license or passport, basically something issued by the Govt. with your photo on it. You might also need a recent utility bill with your name and address on it. Get these photographed or scanned in digital format, so you can upload them easily when asked.
Next, 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.
However, once both of these boxes are ticked, you can move on to requesting your money.
Requesting your withdrawal
This, by comparison, is relatively simple. You need to go to your account dashboard (this is top right on desktop or go to ‘settings’ top left on the app) and click on ‘Withdraw’. Click ‘got it’ to indicate you know what you’re doing, then on the next page tell them how much of your balance you want to withdraw. If you have that amount in cleared funds, you’ll need to decide how you want to receive your money, and you can choose from a number of DraftKings withdrawal options.
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.
Draftkings deposit options
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.
What is the DraftKings withdrawal time?
As you have seen, ‘cash at casino cage’ in New Jersey takes an hour, and a check in the post will take considerably longer (three to seven 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.
Is there a DraftKings withdrawal limit?
Looking first at online banking, there is no 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 $60,000). PayPal has the same upper limit, and a minimum of just $1, which you should see in your account in three to five 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.
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.
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.
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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. 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. 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. To see what the DraftKings withdrawal limit is, 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 you don’t know how to get it. To find out if you can get cash in your state, or what the next best alternative is, check out our online guide.
💳 Can I withdraw to my credit card at DraftKings?
There are many methods available, like DraftKings withdrawal to bank accounts and PayPal, but to find out if credit cards are also among these options, check out our online review for full informaiton on this, as well as other key details such as the latest DraftKings promo code to use.
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