DraftKings has become one of the major forces in the American sports betting market. In addition to its very popular Daily Fantasy Sports contests, the DraftKings sportsbook offers excellent odds on a wide range of sports, along with some generous bonuses and promotions for new and existing players.
Another factor which has seen DraftKings establish itself as a market leader in sports betting are the deposit and withdrawal methods available on the site. All of the payment methods found on DK are secure, simple, and speedy. Withdrawal times take longer than the instant deposits, but there is plenty of flexibility whenever you are making a transaction on both the desktop site and on the DraftKings app.
Learn how to make both deposits and withdrawals and discover all of the banking options available at the DraftKings online sportsbook.
Banking at DraftKings Sportsbook
The DraftKings sportsbook allows you to make deposits or withdrawals from your computer or mobile, using the desktop site or the sportsbook app, respectively. There are no restrictions on where you can deposit from; you could be in Tennessee, but usually make your deposits in Michigan, you can still make the deposit in the Volunteer State. As long as you are physically located in any DraftKings legal states, you make a deposit using any of the available payment options in that state.
You can download the DraftKings sportsbook app to register a new account from anywhere you like. The same applies for withdrawals, you can request a withdrawal from anywhere as long as you have created an account.
You will be unable to make a withdrawal if you have not verified your account or your identity. You can go through that process on the DraftKings site.
DraftKings Sportsbook Payment Methods
The list of DraftKings payment options will be enough to satisfy every bettor’s needs. You can use any of the following options to make a deposit on the DraftKings platform:
| Deposit Method | Processing Time |
|---|---|
| Online Banking | 1-5 business days |
| Debit Cards (MasterCard, VISA, American Express or Discover) | Instant |
| PayPal | Instant |
| Apple Pay | Instant |
| Venmo | Instant |
| PrePaid DraftKings Play+ Card | Instant |
| ACH Bank Transfer | Up to 5 business days |
| VIP preferred e-check | Up to 3 business days |
| Wire transfers | 1-5 business days |
If you would rather deal in cash, you can visit a land-based DraftKings sportsbook. If you come across any issues making a deposit using any of the methods listed above, you can contact the DraftKings customer support team.
How do I deposit Money on DraftKings?
Adding funds to your DraftKings betting account is straightforward and can be done right after your account has been created. Make sure you read the terms and conditions of the DK welcome bonus before claiming, and if you are happy, you can then choose your preferred payment method to fund your account.
Here is a step-by-step guide of how to deposit money on DraftKings so you can start betting:
- Log in to your account.
- Click the deposit button found at the top of the app.
- Select the amount of money you want to add; the minimum deposit limit on DraftKings is $5.
- Select your preferred payment method from the list.
- Enter the required financial information.
- Enter personal details on the billing screen. These details include full name, address, postal code, and phone number.
- Click deposit to finish the transaction.
DraftKings will notify you that your deposit was successful, and now you can start betting on your favorite sports. One of the great things about DK is you can deposit at the sportsbook from just $5, so they are great for low deposit players, but they also have high limits for high stakes bettors too.
DraftKings Payment Limits
The DraftKings online sportsbook is available in multiple states, and that number will continue to grow as more and more states legalize sports betting. As DraftKings has to adhere to different laws in the various states, things like available deposit methods will vary depending on where you live. The good news is that no matter where you are located, DraftKings does not charge any fees for withdrawals.
Which Debit Cards are accepted on DraftKings?
Most of the top US sportsbooks accept Visa, AMEX, and MasterCard as options to make a deposit. However, from August 2025, players in all states, including Tennessee and Iowa, will not be able to use the credit card option. You should also be aware that some banks will not process any transactions associated with betting sites, but you always have the option of using debit cards in those instances instead.
There are limits that DraftKings sets on deposits, and those limits will vary depending on what type of card you have. For example, if your card has a $2,000 limit, you cannot go above that amount with your DraftKings deposit.
Does DraftKings accept PayPal?
DraftKings accepts PayPal as a payment option, and it is also one of the best banking methods you can choose to use on the sportsbook. This is due to the instant nature of PayPal deposits and withdrawals. If you live in a state where DraftKings doesn’t allow credit cards, you can get over this hurdle by using your credit card to add funds to your PayPal account. Additionally, you can withdraw funds from your DraftKings betting account using PayPal and then have instant access to the money via your credit or debit card. DraftKings typically processes withdrawals within 24 hours, but it is usually done faster.
DraftKings Withdrawal Methods & Transaction Times
One of the major perks of banking with DraftKings is they offer more withdrawal methods than some of their rivals, including bet365 and BetMGM. However, as with deposits, not all of the withdrawal options will be available depending on your location.
When you make your first withdrawal on DraftKings you must go through a two-factor authentication process with are tied to your email address and bank account. Once you have completed this process, you will not have to do it again. This is an added layer of security and provides you with reassurance that your funds are in safe hands with a trusted and reputable online sports betting site.
DraftKings Withdrawal Times
One of the best features of the DraftKings sportsbook is the payout speed. There are eight different withdrawal methods, which is among the highest you will find at any legal online US sportsbook. The withdrawal processing times are all 24 hours and under, so you don’t have to wait long at all to get hold of your winnings.
Here are the most popular withdrawal methods on DraftKings, along with a speed comparison for processing times:
| Withdrawal Method | Processing Time |
|---|---|
| Debit Card | 1-2 business days |
| PayPal | Up to 2 business days |
| Apple Pay | 1 day |
| Venmo | Up to 2 days |
| ACH Bank Transfer | 2-5 business days |
| Online Banking | Up to 5 business days |
In my view, PayPal is among the best options for both deposits and withdrawals as it is extremely safe and also speedy. We have a list of the best PayPal betting sites available where you can link your account and take advantage of fast withdrawals. If you would rather use a card, the debit card withdrawal option is a good choice. You can get your winnings within a few hours using this option.
How to Withdraw on DraftKings
The withdrawal process should take no longer than a few minutes on DraftKings. Once you have made the request to access your funds, this must be approved by the operator and then the cash delivered via your preferred payment option. DraftKings does not charge any additional fees for withdrawing cash via any of the methods mentioned on this page.
If there are any fees that do appear on your statement, check with your bank as some banks will place additional charges on gambling transactions. If your account has not been verified, we recommend you do this before making any withdrawal requests. If you have not done this ,you will also likely be waiting longer for your money to arrive.
If you come across any issues while waiting for your funds, contact the DraftKings customer support team. We would advise using their live chat function as this is the fastest way to resolve any issues.
