Online sports betting has exploded in popularity in recent years. As more states legalize sports gambling, services like DraftKings have seen tremendous growth. However, with growth comes growing pains. One common issue for DraftKings users involves difficulties with withdrawals. Naototnhat will examine some of the most prevalent DraftKings withdrawal problems and provide solutions.
DraftKings withdrawal policies
Before digging into specific issues, it’s important to understand DraftKings’ withdrawal policies.
General withdrawal rules
- Minimum withdrawal amount is $10
- Withdrawal availability depends on method
- Bonus funds have additional restrictions
- Identifying documents may be required
By knowing the rules upfront, you can avoid basic mistakes when submitting withdrawals.
Bonus funds
One key rule is around bonus funds. These credits come with playthrough requirements before they can be withdrawn. Users sometimes encounter problems when trying to withdraw bonus funds too soon.
Identity verification
DraftKings may flag accounts for additional identity verification before allowing withdrawals. This can temporarily block payouts until documents are submitted.
Draftkings withdrawal methods
DraftKings offers various withdrawal methods, each with their own quirks. Let’s explore some of the most popular options.
Withdrawing to PayPal
PayPal is a very convenient withdrawal method. However, some users report issues connecting their PayPal account to DraftKings. Difficulties can also arise if the names on the two accounts don’t match exactly.
Withdrawing to Venmo
Similar to PayPal, using Venmo requires having accounts properly connected. If your Venmo account lacks sufficient identity verification, it may cause problems when withdrawing.
Withdrawing with Apple Pay
Apple Pay withdrawals are fast and simple. But it’s important to double check your connected debit card information. Outdated or invalid card data can lead to failed withdrawals.
Withdrawing with Play+ Prepaid Card
The Play+ card is DraftKings’ branded prepaid card. Be sure to register the card and have a valid mailing address for delivery. Also, the Play+ account needs to be verified to enable withdrawals.
Withdrawing with VIP Preferred
As a loyalty rewards program, VIP Preferred accounts have their own set of withdrawal rules. Review them carefully to avoid potential issues.
Draftkings withdrawal fee
Depending on the method, DraftKings may charge a withdrawal fee. For example, there is a $2 fee for using VIP Preferred eChecks. Be aware that other transfer options like PayPal or bank wires may involve third-party charges as well.
Draftkings withdrawal time
DraftKings lists estimated timeframes for different withdrawal methods:
- PayPal: Under 48 hours
- Play+ Card: 5-7 business days for delivery
- Check by mail: 10-14 business days
- Casino cage pickup: Available immediately
However, actual processing times can vary. Delays beyond these estimates could indicate a potential withdrawal issue.
Draftkings withdrawal problems
With the basics covered, let’s get into some specifics on withdrawal problems DraftKings customers face.
Draftkings withdrawal limit
DraftKings enforces withdrawal limits on various methods:
- $2,500 per day via eCheck
- $5,000 per week via online methods
- $10,000 monthly via mailed check
Attempting to exceed these limits results in blocked withdrawals requiring customer support inquiries.
Draftkings is reviewing your withdrawal request
This generic message indicates DraftKings flagged the payout for further manual review. The process generally takes 1-3 days. If it goes longer, reach out to support. Checks triggered by large winnings commonly fall into this status.
You’re trying to withdraw a bonus
As mentioned previously, withdrawing bonus funds too early before meeting playthrough causes rejection. Similarly, free bet credits may have their own redemption rules. Rereview terms or contact support if you encounter this.
You’re trying to withdraw deposited funds
DraftKings prohibits immediately withdrawing deposited funds. Typically, there is a brief holding period before newly-added money becomes eligible for withdrawal. Allow time for deposits to fully process.
The address information in your account is incorrect
Valid identity verification and account details are required for DraftKings to process payouts properly. Double check personal information entered during signup or account updates. Incorrect data can derail withdrawals.
How do I track my withdrawal with DraftKings?
You can check withdrawal status in the transactions section of your account. The table there provides status indicators including:
- Pending – Initial state after requesting
- Processing – Payment is being handled
- Paying – Funds being released
- Paid – Withdrawal completed
- Cancelled – Payout rejected
If something halts between processing and paying, further troubleshooting is likely needed.
Conclusion
Like any financial transaction, DraftKings withdrawals have rules and limitations. Bonus stipulations, identity verification, account settings and more can contribute to various frustrating problems. Now armed with better knowledge, you can optimize the withdrawal process. Understanding policies, avoiding rookie mistakes, and carefully tracking status lets you get payouts smoothly.