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DraftKings Sportsbook Banking: Deposits, Withdrawals, & Payout Speed

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DraftKings Banking Information

  • Deposit Options: Bank transfer, Debit/credit card (Visa, Mastercard, Discover, Amex), PayPal, Venmo, Apple Pay, Wire transfer, VIP Preferred (ACH), DraftKings gift card, Play+, Cash @ Cage
  • Minimum Deposit: $5
  • Withdrawal Options: Bank transfer, Debit card, PayPal, Venmo, Apple Pay, Wire transfer, VIP Preferred (ACH), Play+, Cash @ Cage, Check
  • Minimum Withdrawal: $1
  • Payout Speed: Up to 5 business days for most methods

Deposit & Withdrawal Methods

Payout Speed

Up to 5 Days

DraftKings has more deposit and withdrawal options than any online sportsbook except FanDuel. 

It's easy to fund your account and, when you're ready to withdraw, payouts are fast.

Let's dive into DraftKings' banking:

DraftKings Deposits: A Dozen Ways to Fund Your Account

DraftKings supports 12 deposit methods.

They also support a range of payment solutions including gift cards, online banking, and e-wallets.

A common problem players have is attempting to deposit with a method that isn't in their name. You have to use a payment option with a name that matches the name on your DraftKings account.

Deposit Method

Minimum Deposit

Processing Time

ApplePay$5 Instant
Bank Wire$100 Instant
Cash at Cage$5 Instant
Cash at Retail Stores$5 (max $500 daily)Instant

Credit Card (Visa, Mastercard, Discover, Amex)

$5 Instant

Debit Card (Visa, Mastercard, Discover, Amex)

$5 Instant
DraftKings Gift Card$5 Instant
Electronic Gift Card$5 Instant
Online Banking$5 Instant
PayPal$5 Instant
Play+ Prepaid Card$5 Instant
Venmo$5 Instant
VIP Preferred (E-checks)$5 Instant

DraftKings Withdrawal Methods & Payout Speed: Many Options & Quick Payouts

DraftKings offers nearly as many options for withdrawals as deposits—pretty much all except credit cards. You'll find 11 different ways to cash out your winnings.

Typically, you can only withdraw using the same method you deposited with. If you need to switch it up, you'll need to reach out to their support team.

Also, DraftKings may ask you to verify your account before making your first withdrawal. This requires submitting a government-issued ID (such as driver's license or passport, etc.) and proof of address (such as a utility bill).

They handle cash out requests on weekdays (excluding federal holidays) between 9 am and 5 pm ET. If you order a withdrawal request after 2 pm ET, it waits until the next business day.

The processing time and limits for withdrawals vary by method. Check the table below for further details.

Withdrawal Method

Minimum Withdrawal

Maximum Withdrawal

Payout Speed

Online Banking$1 $100,000 Up to 5 days
VIP Preferred (E-check)$1 $100,000 Up to 3 days
PayPal$1 $60,000 Up to 2 days
Debit Card$1 $25,000 1 day
Cash at CageNone$100,000 1 hour
Venmo$1 $20,000 Up to 2 days
Play+ Prepaid CardNone$25,000 Up to 4 days
Trustly Verified Withdrawals$1 $100,000 1 day
ApplePay$1 $25,000 1 day
Checks$15 $100-50,0001-14 days, depending on the sum
Bank Wire$20,000 N/AUp to 2 days

Overall, DraftKings scores highly in all aspects of banking. They handle withdrawals within 24 hours for certain methods, making them one of the fastest paying sportsbooks around.

Here are three other sportsbooks that score well in banking:

  1. FanDuel: 5/5
  2. BetMGM: 5/5
  3. BetRivers: 5/5

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