The goal of everyone when playing DraftKings to pay out? Let’s explore the different DraftKings payout and banking methods to see how each one gets you your winnings in a timely and convenient manner (like you deserve).
DraftKings Payouts and Banking
Before we get into the time it takes for DraftKings payouts to go through, we need to go over all of the various withdrawal options you have — because there are a lot of them at DraftKings.
DraftKings Withdrawal & Banking Methods
The payout times for DraftKings Sportsbook can vary depending on the withdrawal method you choose, so we will need to go over all the different banking options that DraftKings offers its s. Here are the withdrawal options you have on DraftKings:
- Apple Pay
- Debit Card
- E-Check
- Paper Check
- PayPal
- Online Banking
- Venmo
- Verified Bank Transfers
Save for paper checks, the minimum withdrawal amount for any of these s is $1. Paper checks have a minimum of $15.
Maximum withdrawal amounts for each type varies. Venmo’s max is $20,000, Apple Pay and debit cards max out at $25,000, and PayPal has a maximum of $60,000. Online banking, verified withdrawals and e-checks have a max of $100,000. Paper checks must be in amounts below $50,000.
So How Long Does it Take to Get a DraftKings Withdrawal?
With most of these methods, DraftKings withdrawals are processed within five business days. However, the timeline for a DraftKings payout varies depending on the method you used for your withdrawal.
Among online withdrawals, online banking takes the longest at up to five days to process a withdrawal. E-checks can take up to three days, while PayPal, Venmo and bank wires can take up to 48 hours. Apple Pay is the quickest at 24 hours.
If you opt to receive a paper check, then that is when you will be waiting the longest for your payout most of the time. Checks in amounts ranging from over $100 to $2,000 can take up to five business days, and those over $2,000 will take up to three. If your check is less than $100, you can expect as much as two weeks for your payout to arrive.
You can check the status of your withdrawal if you use any online method, and you can track your paper check if it is over $100. If your check is less than that, no tracking will be available.
Why Can’t I Withdraw My Money From DraftKings?
There are several reasons why your withdrawal may not be going through:
- You’re trying to withdraw promo credits
- You’re trying to withdraw deposited funds
- Information is incorrect
With bonus or promotional credits (usually Bonus Bets), you have to play through the amount of your bonus at least one time before you can withdraw. Bonus Bets cannot be withdrawn on their own without being used for bets first.
The same goes for deposited funds. You can only withdraw winnings, which means you have to play through your deposit amount first. That said, DraftKings customer service will help you if you want a refund on your deposit amount — they will not just hold your deposit if you do not wish to keep it in your DraftKings .
The last issue applies to paper check withdrawals. Your address has to be verified in order for you to receive your check. If it isn’t correct or verified, you can update it through your settings.
