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DraftKings Sports Bonus
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Highlights
  • Superb range of different sporting leagues
  • Effective in-play betting feature
  • Exciting fantasy team building
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Players from Virginia accepted

Best DraftKings Payment Methods for Casino and Sportsbook 2021

DraftKings Payment Methods, Payout and Deposit Options

You know about DraftKings, don’t you? Most online gamblers have at least heard of this 2019 addition to the online gambling industry, but you might not be as up-to-date on the DraftKings payment methods for this mobile-orientated high quality sportsbook.

That’s where we come in. At TheGruelingTruth.com, it’s our job to teach you all about how to do a DraftKings withdrawal and answer questions like ‘how does DraftKings payout?’ – and we’re happy to do it. If our extensive research becomes your knowledge, then that’s a job well done on our part and a lesson well learned for you.

The importance of DraftKings payment method options – why your choice matters

You may be sitting there wondering why anyone would ever care about the payment method options that an operator such as DraftKings offers, and we will accept that it sounds a little odd. Shouldn’t we be more concerned with the big bonuses and aesthetics like other websites? Well, we at TheGruelingTruth.com take those factors into account too, but we find that many people don’t look past the DraftKings welcome bonus US, for example, to see whether their chosen payment method is compatible with the operator or not.

Sure, other factors are important. But what if you can’t put any money into your new, shiny account? Surely, that ruins the entire experience? By letting you know about the betting payment methods that DraftKings accepts in advance, you can find out your DraftKings withdrawal options and not experience any surprises when you use the website.

But there’s another advantage to scoping out the payment methods prior to signing up. In reality, it reveals a lot about the operator. Need us to explain? No problem – we know we’ve probably put way too much thought into this, but hear us out. The more DraftKings payment methods there are, for example, the more work DraftKings has done to give you a higher chance of access to the sportsbook. This highlights a clear amount of effort from DraftKings to make sure that you have a good time when you’re gambling, and an easy time getting access to funds in the first place. So, the more payment methods, the higher your chances are of having a good time!

What payment methods does DraftKings offer? – the full list

Now, DraftKings reviews about the DraftKings payment methods wouldn’t be complete without us giving you the rundown on which payment methods you’ll be able to use with this operator. So, to stop this becoming an absolute wall of text, we’re going to give you a quick list of the methods by which you can get money out of your wallet and into DraftKings:

  • Bank transfer – old-fashioned, tried-and-true transfers from your bank to the operator
  • Credit or debit cards – companies such as Visa and Mastercard are accepted
  • eChecks – a little more modern, but still just as reliable
  • PayPal – the online option for the online gambler
  • Prepaid cards – get your finances ready in advance so you can focus on betting
  • Wire transfer – a little awkward, but good for larger transfers
  • Vanilla Pay – paying with cash in a few extra steps

You may notice that common online payment methods, such as the ones seen with Neteller betting sites, are absent from this list. This is one of our only gripes with DraftKings – they’re quite new, and haven’t really expanded their payment methods to the extent that competitors have. Does that make them a bad online sportsbook? Certainly not, but it may deter some diehard fans of Purple Pay or Apple Pay.

How do payment methods influence withdrawal times? – A quick explanation

Sometimes, it is overwhelmingly obvious that one DraftKings payment method will lead to a quicker DraftKings cash out than other DraftKings withdrawal options. For example, wire transfers and Vanilla Pay both require some extra steps that won’t be an instant, click of a button type of transfer. However, you should also consider the timing of your transfer. Bank transfers in particular may be slow on weekends, and any type of transfer may take longer if those particular DraftKings payment methods are busy.

On top of that, you also have the fact that some DraftKings withdrawal options will be quicker to set up than others – if you already have the payment method in the first place. To explain, adding a credit card to your account will take longer than adding a PayPal account since you only need to sign into the PayPal account, while getting your credit card out and putting in all the numbers can take longer. If you have those numbers memorised, then we at TheGruelingTruth.com take our hats off to you!

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Verification requirements for DraftKings payment methods – proving who you are

Whenever you’re in a situation with money involved, it’s best to be cautious. When you’re online, that sentiment just doubles. You can’t see the people behind the website or app on your screen – they could be lovely, honest people, or they could be trying to scam you. We at TheGruelingTruth.com would never point our users towards illegitimate websites, but we urge you to remain cautious when going out and finding operators on your own. Even if something sounds like the best sportsbook for US players, it’s always wise to keep your eyes peeled for red flags.

A huge red flag is not requiring any sort of verification for adding a payment method. Think about it from an outside perspective for a moment – someone could take your credit card and use it on a website that doesn’t require verification, spending your money while you may not even know that your card is gone. When you look at it like that, it really doesn’t seem too terrible to have to go through the verification process!

And that verification process is often much simpler than you think. You’ll just need to provide proof that you are who you say you are, to put it simply. This usually involves proof of your name, date of birth, and address. The address is particularly important for operators in the US because of the differing laws between states, as well as the fact that an operator may not be licensed in your state, even if online gambling is legal where you live. You can usually just upload pictures online, so verification doesn’t take too long and can really help you out!

Do the available payment methods have limits? – looking closer at DraftKings payment methods

Largely, the DraftKings payment methods don’t have many limits in the usual sense. There are some limits that you should be aware of with some of the payment methods, though, such as the fact that American Express credit and debit cards can’t be used for the DraftKings sportsbook or casino. Furthermore, if you’re using PayPal, you can’t use a business account for transferring between DraftKings and yourself – it must be a personal account (if you’re unsure about what that means, you likely have a personal account; if you use your PayPal for your business or work, then you likely have – or should have – a business account).

As well as this, there are traditional limits to the Vanilla Pay and wire transfer DraftKings payment methods. With Vanilla Pay, you have a maximum deposit limit of $500 per day, which is very generous. With wire transfers, you have a minimum deposit limit of $100 for each transfer, so wire transfers are usually better for high-rollers who are going all out on their gambling. Otherwise, the best payment methods to use are online bank transfers and services such as PayPal.

DraftKings actually seems to be one of the best online gambling operators with regards to limits due to its lax nature on the subject. This means that you can spend less time worrying about what amount of money you have to transfer, and more time focusing on having fun while you’re gambling.

Our conclusion – summing up DraftKings payment methods

Is DraftKings an operator who we’d put on a pedestal for their wide range of payment methods? Not exactly. Do they have more than enough to be functional? Certainly. It’s definitely not the case that DraftKings limits users to just one or two payment methods, but compared to some of the competitors out there, it does seem to be lacking. However, you should remember that this doesn’t speak exactly to the quality of the operator. If it has one of your favorite payment methods and you like the sound of it, then you can by all means use it! And, regardless, DraftKings is still a young online gambling operator, especially compared to competitors, so we would advise to give it some time, during which more payment methods will likely arise.

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DraftKings withdrawal FAQ

💰 Does DraftKings accept PayPal?

Although it’s basically a given that most online casinos and sportsbooks will accept bank transfers, and most credit and debit cards, other forms of payment are a little more iffy. This is especially true with newer payment types like PayPal, as some older operators may not quite be ready to add these to their roster of payment methods. Through our research at TheGruelingTruth.com, we learned a lot about the payment methods that DraftKings accepts, so you can check out our review to find the full list!

⚖️ Can I trust the DraftKings sportsbook?

It can be hard to know who to trust on the internet. It’s a simple fact of life and now, in modern times, it’s a fact that you can’t ignore. Scams happen and people lose their money and identities to criminals who they may never see or even know the names of. It’s hardly fair, so how can we reduce the impact of illegitimate people on the internet? Well, we at TheGruelingTruth.com have an idea – our reviews only ever showcase legit websites, and we go through security to see whether our users can trust these operators or not.

🙋‍♂️ Who can use the DraftKings app?

Unfortunately, gambling in the US has had a rocky road to legalization. It’s still not completely legal to gamble online in every state, which is why ID verification can be so important for online casinos and sportsbooks to consider. When it comes to seeing if you can use an online casino or not, there’s no better tool than reviews like ours at TheGruelingTruth.com, where we take you through whether you can use an online gambling operator step-by-step.

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