How To Withdraw and Deposit Money From draftkings

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DraftKings is into sports betting and fantasy sports that can be played to earn real cash. Daily and weekly contests are held to predict the individual performance of NBA, PGA, NHL, NFL, and other players.

It was founded in 2012 and got instant recognition as the first legal betting operator for sports in the United States. DraftKings is only accessible for players of Canada, the United States, and some other jurisdictions. Moreover, Win huge by Best DraftKings Hack For You To Play And Earn Money.

It also provides opportunities for betting in retail sports by partnering with the top casinos of the United States. Head-to-head matches, sports tournaments, and various other games can also be played through this gaming platform. You can download their app on Android and iOS devices for playing daily contests and real cash games! Also, get a complete step by step guide on DraftKings App Download - How To Register And Login?

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How to withdraw money from DraftKings app?

Follow these steps to know how to withdraw money from DraftKings app:

  • Step 1: Launch the app on your mobile and login into your account.
  • Step 2: Your profile picture will be visible at the top left corner of the display. Tap on it. If you scroll down, you will find the option of Withdrawing money.
  • Step3: If you are a new user, you should go through the ‘Things to know before withdrawal’ tab before moving forward. Once you understand these things, you can tap on the ‘Got it’ button.
  • Step 4: Once you click on the ‘Withdraw Funds’ option, it will ask you to enter the amount. Enter the amount and tap on the ‘Continue’ button.
  • Step 5: After that, you need to select the method through which you would like to receive cash. Finally, you can tap on the ‘Request Withdrawal’ button.

How to make the deposits through the mobile app?

To deposit money on the DraftKings app, you need to follow these steps:

  • Step 1: Open the DraftKings app and login to your account.
  • Step 2: On the right corner of your screen, you will find the ‘Deposit’ option. Click on it to proceed further.
  • Step 3: Add the amount you want to deposit and enter the details of your payment method. Finally, you can tap on the ‘deposit’ button and complete the remaining formalities to add money to your account.

The minimum deposit amount is $5 and you can deposit up to $500 every day on your account. The money gets instantly deposited into your account once you complete the above steps.

What are the various withdrawal methods in the app?

There are different methods to withdraw money from DraftKings. These withdrawal methods are mentioned in the below table:

Platform Name

Withdrawal Methods

Details 

Daily Fantasy or Marketplace 

Paypal and Cheque

The email address for PayPal should be on your name. The exact name and address must be entered for withdrawing money through cheque. 

Sportsbook or Casino

Online banking, PayPal, E-check, Prepaid + Play Card, Wire, Cage, and Cheques 

To withdraw from DraftKings, you can utilise any of these methods. 

Terms and Conditions for withdrawing money from the app

While learning how to withdraw money from Draftkings, you must remember these things:

Withdrawals are completed within 5 working days. The minimum and maximum draftkings withdrawal limits are different for each withdrawal method. You can check the status of your withdrawal on the withdrawal tracker option which is available on the DraftKings app. However, get to know The Best Apps Like DraftKings To Play And Earn Money.

You will be notified via email once a withdrawal request has been successfully processed. When you withdraw money from Daily Fantasy Sports, the initial deposit amount is sent back to the debit/credit card or gift card that you had used for the deposit. The remaining balance will be transferred to the method that you have preferred for withdrawing the money. If you follow these things, you will learn how to withdraw money from Draftkings successfully.

How to verify a bank account on the DraftKings app?

Choose the funding option and enter the amount that you want to deposit. Submit the card number, the security code, and expiry date in their respective fields. Once your first deposit is successfully completed on DraftKings, your bank account will be automatically verified.

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How to do Account verification on the DraftKings app?

For verifying your account by uploading any other identification document, you need to follow these steps:

Enter your name as reflected on the identity card. Enter your date of birth and then enter the identification number.

You can verify your account using an identification card from both the web browser and mobile app. If you use the mobile app, you will get 2 extra attempts to verify your identity if the first attempt fails. From the web browser, you get 3 extra attempts upon failing to verify your identity in the initial attempt.

Withdrawal Time on the App

DraftKings withdrawal time required for different payment methods are reflected in the below table:

Withdrawal Method

Processing Time 

Cheque

3 to 5 business days 

PayPal

3 to 5 business days 

Play+ 

2 to 4 business days 

Cage 

1 hour 

Wire 

24 to 48 hours 

ACH 

3 to 5 business days 

Online Banking 

3 to 5 business days 

Withdrawal Fees of the DraftKings App

DraftKings does not charge a withdrawal fee for both depositing and withdrawing money. The withdrawal fee waiver is applicable to all the DraftKings withdrawal methods.

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What is the daily withdrawal limit on the DraftKings App?

The draftkings withdrawal limits vary as per the withdrawal method you have chosen. The below table shows the draftkings withdrawal limits for various DraftKings withdrawal methods:

Draftking Withdrawal Method

Withdrawal Limit (In $)

PayPal

60,000 (15k in Australia)

Cheque

50,000

Play+

25,000

Online Banking

1,00,000

VIP Preferred E-cheques

1,00,000

Wire 

NA

Cage 

1,00,000

Why do the withdrawal requests get cancelled on the app?

While understanding how to withdraw money from DraftKings, check the below the reasons due to which the withdrawal request may get canceled:

Withdrawal requests are mostly obliged by DraftKings. However, in rare scenarios, your withdrawal request might get canceled. It might be due to less gameplay as per the banking rules or due to any other DraftKings withdrawal policy. You can always contact the customer support team to get more details on the reason for a canceled withdrawal request.

When will the withdrawal be processed?

The withdrawals usually get processed within 5 working days. For cheques and online transfers, it might take longer whereas withdrawals made via Cage get processed within one hour. You can check the above sections to get precise details regarding the processing time applicable on different DraftKings withdrawal methods.

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How to cancel the withdrawal request on the app?

The withdrawal request can be canceled by following the below steps:

  • Step 1: Login into your DraftKings account. Tap on the username and choose the ‘Account Information’ option from the dropdown menu.
  • Step 2: On the left side of the ‘My Accounts’, you will find the ‘Withdraw’ option. Tap on it.
  • Step 3: After that, you will have to review the things that one should know before placing a withdrawal request. Go through it and tap on the ‘Got it’ button. Here you will see a withdrawal cancel option if you have already placed a withdrawal request. Tap on the option to cancel your request.
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Question Answer
What does the withdrawal tracker of DraftKings reflect? The withdrawal tracker on the DraftKings app reflects the following:

1. Withdrawal amount
2. The Method used for withdrawal
3. Date on which you had placed the withdrawal request
4. Time required for processing your request
5. Status of your withdrawal request

Why is it necessary to verify my identity on DraftKings? Verifying the identity of players is necessary according to the state and federal regulations in place for gaming apps. Therefore, you need to submit details of your identification card on DraftKings.
How to create an account on DraftKings? You can create an account on DraftKings by using your email address. Also, a unique password and username need to be set in order to use these credentials for future logins.
Which information is needed to create a Casino or Sportsbook account? Details like your name, address, birth date, email id, telephone number, and SSN (Social Security Number) are asked while creating an account on Sportsbook or Casino.
Title Slug
DraftKings App Download - How To Register And Login? how-to-download-login-sign-in-register-draftkings
The Best Apps Like DraftKings To Play And Earn Money the-best-apps-like-draftkings
Best DraftKings Hack For You To Play And Earn Money best-draftkings

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