DraftKings Review

DraftKings Website & Account Info

DraftKings is both an online and offline betting service, although most of its services are accessible on its online platforms.

draftkings.com

All DraftKings users across the countries it operates can carry out betting services from this main website. However, there are different URLs and domains for each country. But this is not an issue, as the main website will lead you to the right domain for your country.

How to Open a DraftKings Account

Opening a DraftKings account is straightforward. You create a unique username and password and add an email address on the first Forms page. Then it’s essential to fill the form with personal information (full name, home address, phone number, and birth date). You may need to enter your SSN if you’re in the US. In other countries, you may need your ID number (such as your Passport or Driver’s License). Finally, you will carry out a video/selfie verification. Once the platform can verify your identity, you can start betting.

DraftKings Quick Facts

Banking Options

DraftKings serves players globally, and as such, it has provided access to multiple channels through which they can process payments.

But there are rules that players must adhere to for seamless deposits and withdrawals. We discuss them in detail here.

Deposit Methods

Depositing on DraftKings is not complicated, and you have several payment providers available, such that no matter your country, there is a payment platform for you.

Yet, you need to pay attention to some terms and conditions. Otherwise, you can have problems getting your funds in and out of your DraftKings account.

DraftKings Deposit Channels

You can carry out a DraftKings deposit through online banking, credit/debit cards, electronic gift cards, cash, bank wire transfer, e-check, and E-wallets such as PayPal. We can say that DraftKings is the sportsbook with the most robust payment policy, allowing users to transact through multiple payment options.

However, there are points to note:

• The type of DraftKings betting you want may determine the payment channel users can choose. It is because some payment channels are not available for certain DraftKings offers. For instance, cash and wire transfer are available for DraftKings sportsbook and DraftKings casino offers, but you can’t use them for DraftKings fantasy sports or the DraftKings marketplace.
• Note that you can’t use deposits made for one product to make bets on another product.
• Not all the payment channels are available in all countries where DraftKings operates. For instance, you can’t use the e-check in places like Malta.
• Some banks in places like the US don’t support gambling and will reject transactions that involve depositing into or withdrawing from a betting account. So, if you use a credit card for your DraftKings deposit, they may decline to process the payment.

DraftKings Minimum Deposit

Unlike other sportsbooks, DraftKings aims to make betting opportunities available to many people. Thus, the bookmaker has set its minimum allowable deposit at $5 so that many can take advantage of the betting options the bookie provides.

Most payment channels require a minimum deposit much higher than $5. For instance, wire transfers require at least $100. However, this doesn’t mean that every payment channel will permit a $5 deposit transaction.

DraftKings Maximum Deposit

Generally, DraftKings allows users to deposit up to $500 daily into their betting accounts. However, it doesn’t set any maximum capacity your account can take at any time. It is because Draft Kings sportsbook operates in multiple states and countries with different gambling laws. So, check out for the limits the authorities have set in your location.

Then, the sportsbook provides self-imposed deposit limits where players can set the maximum amount they can deposit or play with for a specific period. After selecting this amount, players cannot deposit or make bets above that figure. For instance, if a player sets their maximum deposit at $1,000 for 3 months, DraftKings won’t permit depositing above that amount for those months. If they try to make deposits beyond that figure, they will get an “error message” that they have reached their deposit limits.

Players can make the self-imposed limits apply to specific products like DraftKings fantasy football or DraftKings casino. DraftKings provides this self-imposed limit feature to help wagers control their gambling.

How Long Does It Take to Deposit at DraftKings?

DraftKings has no control over how long it will take for your deposits to be processed and reflected on your account. It is because the transaction time depends on the payment channel you use. Some payment providers are faster than others.

For instance, if you use PayPal, you can see the funds reflected in your account within 24 hours. But wire transfers can take much longer. Nonetheless, “Cash at Cage”, deposited at a DraftKings retail outlet, is often the fastest.

DraftKings Deposit Charges

DraftKings doesn’t charge any fees on your deposits. However, expect whatever payment channels you use to levy some charges.

How to Deposit into Your DraftKings Account

The deposit steps may slightly differ based on your selected DraftKings product, but there are some general steps:

1. Log in to the specific DraftKings product platform (Sportsbook, Daily Fantasy Sports, Casino or Marketplace). You can log in using the app, mobile web or desktop.
2. Navigate to the Deposit section.
3. Next, enter the deposit figure in the “Select Amount” space and click “Add Payment Details”.
4. It is where you go to the specific deposit channel you want.
5. For online banking, click on the “Add Payment Details” page, and supply your online bank login details for the specific bank.
6. For cards, choose the “Debit or Credit Card” option. Then, enter the card details, card number, cardholder name, expiry date and three-figure CVV at the back.
7. For PayPal, enter your PayPal login details.
8. For Cash at Cage, choose “Cash” on the “Add Payment Details” page. You should get a one-time barcode that you can use at any supporting retail centres. DraftKings’ retail partners include giant retailers such as Family Dollar, Dollar General, CVS Pharmacy and 7-Eleven. The retail method allows deposits up to $500 daily.
9. For wire transfers, choose it on the page. Then, copy DraftKings’ bank details needed for the transfer.

Withdrawal Methods

Withdrawing from your DraftKings account is also as straightforward as depositing your funds.

Nonetheless, you need to note the following terms to avoid having issues with getting your funds out of the account.

DraftKings Withdrawal Methods

The same channels you use for deposits are also for DraftKings withdrawal transactions. You can use the “Cash at Cage” format if you prefer getting your funds physically.

For those who prefer to bet online, you can use any bank wire transfer, e-check, or e-wallet. If you are looking for the possibility of withdrawal to cards, then study, for example, our list of Visa betting sites, and choose the most convenient bookmaker for you.

DraftKings Minimum Withdrawal

DraftKings does not set any figure as the minimum amount you can withdraw from your betting account. Thus, you’re free to take out as little as you want.

However, the payment channel may determine the minimum amount you can take out at any time. For instance, PayPal allows users to withdraw as low as $1, but for wire withdrawal, you may need as high as $20,000. So check with your selected payment processor to know if they allow the amount you’re withdrawing from DraftKings.

DraftKings Maximum Withdrawal

DraftKings also has no cap on the amount you can get out of the account. But other factors, such as the payment channel, often influence the maximum withdrawal allowed.

For instance, with PayPal, you can withdraw as much as $60,000. Check withdrawals can take up to $50,000, while the “Cash at Cage” method (withdrawing at a physical outlet) may permit a maximum of $100,000.

Another factor determining the maximum withdrawal allowable is the country where you are based. While PayPal withdrawals everywhere else are at a maximum of $60,000, in Australia, you can only take out $15,000 at most.

How Long Does It Take to Withdraw from DraftKings?

There is no specific period, as the transaction speed will depend on your payment service. From its end, DraftKings has done everything possible to ensure you have speedy fund withdrawals, but utilizing some payment channels may take time.

For instance, DraftKings estimates that PayPal withdrawals may take more than 2 days, while withdrawals through checks can take 5-7 days before they reflect. However, the fastest channel is the “Cash at Cage” method, where players can get their funds within an hour.

Withdrawal Rules to Bear in Mind

The bookie has done everything to ensure that you can safely and seamlessly withdraw from your DraftKings sportsbook account. However, there is a need for you to follow some instructions:

• Never use an account that does not belong to you. DraftKings strongly prohibits using someone else’s accounts to process debits or withdrawals. The name on the accounts you use for deposits and withdrawals must match the name you entered when opening your account. DraftKings created this rule to prevent you or others from being victims of fraud. If you use payment channels other than yours, DraftKings may restrict your betting account.
• DraftKings needs to ascertain your identity before permitting funds to leave your account. They’re doing this to protect you from fraud. This verification will require submitting a government-issued ID document for background checks. If you have not undergone the verification process before requesting withdrawals, you must do so. Not experiencing the verification will not stop you from making bets, but it may prevent you from making withdrawals.
• You can’t withdraw bonuses or promotional credit. You can only use them to make bets.
• Although there is no strict rule mandating it, you should use the same account or payment channels for depositing to process your DraftKings withdrawal. It is because, for products such as DraftKings Fantasy Sports, the bookmaker will likely send your withdrawals to the same payment channel used for deposits.
• Using the same accounts for deposits and withdrawals helps protect your account from fraud.
• Finally, you can’t make deposits without using the funds deposited to make bets. There is the need to make a certain number of wagers in various products (fantasy sports, marketplace, casino or sportsbook) before DraftKings can allow you to withdraw the funds.

How to Withdraw from DraftKings Account?

Follow the steps below when you want to withdraw:

1. Log into your DraftKings account.
2. Click on the profile button to reveal different options. Scroll down to find the “Withdraw” button.
3. Go through the “Things to Know before Withdrawing”. Then click “Got It”.
4. The “Withdraw Funds” page comes next, where you enter the amount and the withdrawal method.
5. Finally, click “Request Withdrawal”.

DraftKings Bonuses

DraftKings offers players different bonuses and promotional offers to increase their betting balance. It will, in turn, boost their ability to earn profits from wagering.

• 📌 Free bets
• 📌 Welcome (sign up)
• 📌 No deposit

DraftKings deposit bonus applies to the various products that the bookmaker offers. So, we will be discussing the rewards under each product category.

DraftKings Fantasy Bonuses

Bettors who play DraftKings fantasy sports have access to a bonus of up to $500 in player funds. Every new customer who makes the first deposit of at least $5 can get 20% of the deposit amount. The maximum amount a user can get from this is $500; this bonus applies only up to $2,500 of deposits.

You don’t need any DraftKings promo code for this bonus type. You get it automatically when you make your first deposit. Note that this bonus is not withdrawable. You can only use it for any DraftKings sportsbook offers.

DraftKings Sportsbook Bonus

This bonus applies only to DraftKings sportsbook offers. So, you can use it for DraftKings sports betting. Players get 20% of their first deposits, with an allowance of up to $1,000. They are also given an additional $50 as a free bet bonus.

However, this only applies to players at least 21 years old. Then, it is only available to players in selected DraftKings sportsbook states, including New Jersey, Pennsylvania, West Virginia, Indiana, Iowa, Colorado, Illinois, Tennessee, Michigan, and Virginia. Thus, DraftKings NJ and DraftKings Indiana players that have clocked 21 years can get up to $1,000 in player credits.

You also don’t need a DraftKings promo code for this bonus, but then you can’t withdraw the reward as it is only available for DraftKings sports betting.

DraftKings Casino Bonus

The DraftKings casino bonus is one of the most attractive you will find around, as it offers casino players access to at least a 100% DraftKings deposit bonus. However, users can only get up to $2,000 alongside a free bet credit (no-deposit bonus) of $50. Again, players that have clocked 21 years and above can earn this bonus.

DraftKings Welcome Bonus

DraftKings understands the need to offer a welcome bonus to new wagers on its platform. A welcome bonus helps players to get extra funds with which they can place bets for more profits.

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Claim bonus

All the major DraftKings bonuses are welcome bonuses, but they differ in terms of offer amounts and conditions players need to meet to secure them.

For instance, the DraftKings fantasy sports bonus or promo is available for people who play DraftKings fantasy football. Here, players get at least 20% of their first deposit amounts. However, they can only get a maximum of $500 (which will require a deposit of at least $2,500).

The next welcome bonus is the Draft Kings sportsbook promo, where players also get 20% off their first deposits. There is also an additional $50 in free, no-deposit bets. Nonetheless, the maximum amount they can enjoy here is $1,000.

Finally, we have the DraftKings casino bonus, which is available for casino players. It is the most attractive on the list as players get at least 100% of their first-time deposits, with an allowance of up to $2,000 (it means they need to deposit $1,000 to get the maximum allowable figure). There is also a $50 free bet bonus.

DraftKings Free Bets

DraftKings Free bets are not a stand-alone offer. You get it alongside the sportsbook or casino bonuses. When you make the first deposit for either DraftKings sportsbook or DraftKings casino, you get $50 of free bets each.

Occasional Bonuses

Apart from the general welcome bonuses and free bets available to everyone, DraftKings also has several bonuses and promotional offers that are available occasionally. However, based on our careful DraftKings sportsbook review, we observe that these occasional offers are not often available to everyone.

If you want to partake in these bonuses, use your DraftKings account to make bets frequently. You should get a DraftKings promo code in your email if you do so regularly.

Note that DraftKings may change any of the terms for these bonuses at any time.

What to Bet On

DraftKings has the most comprehensive and abundant product offers of any sportsbook that you can find. They understand that players are interested in different forms of gambling and have provided betting offers to appeal to a wide customer base.

Whether you are interested in sports betting or casino gambling is your thing, DraftKings surely has something for you.

Sports Betting

While DraftKings provides several betting types for wagers, its most popular product remains sports betting. A highly innovative feature of DraftKings sports betting is that there are several ways through which punters can bet on games.

There are the “Same game parlays” where players can make multiple bets on a single game, all in one ticket. In the past, there was the traditional parlay where wagers make bets on different matches, but with the same game parlay, you can make different bet types on one game.

For instance, for a basketball match, you can bet on the winner, the rebounds, player props, performance in the first or second half, and others. You can add as many options as you want, and the more bets in a parlay, the higher the potential payout.

Other options include live betting and pool betting.

Apart from these offerings, DraftKings also wants to help you make more money. So, they have odds boosts where the DraftKings sportsbook odds for regular bets increase significantly. There are also regular promotional offers.

Available Sports

DraftKings provides multiple sporting options, including the most popular sports such as football, basketball, baseball, crickets, hockey, soccer, tennis, golf and others.

Then, there are some not-so-popular sporting types, such as Aussie rules, cornhole, darts, lacrosse, snooker, motorsports and even collegiate sports.

Across these sports, you can apply various betting methods such as game parlays, live betting and pool betting. Also, you get access to highly attractive odds and can take advantage of the odds boosts to get even more profitable odds.

Sports Competitions

Across all the sports that DraftKings offers, wagers can bet on their most popular leagues, events and tournaments. You get to bet on the most important championships in the world, such as the World Cup for soccer, the UFC, the Masters for golf, March Madness for basketball, Stanley Cup for hockey, and many more.

Premier League

FA Cup

NBA

Serie A

Bundesliga

Looking for more?

Check it out

While you have many options in each sport, DraftKings has exceptionally detailed offerings in sports like basketball, golf, hockey and soccer. For instance, in basketball, bettors have access to top leagues such as the MBA and Men’s College Basketball. Baseball has the MLB, football has the NFL and College Football, while soccer has the most-watched leagues in the world, like Bundesliga (Germany), LaLiga (Spain), Ligue 1 (France), Serie A (Italy) and Premier League (England).

Apart from these competitions, DraftKings also makes it possible to bet on their playoffs, where available.

You will likely find most sporting events or competitions you’re interested in on DraftKings. Yet, note that betting laws in some states don’t permit betting in certain sporting types or events. For instance, in states like New Jersey and New Hampshire, players cannot wager on college sports and teams based in their area.

Special Events

Modern gambling has gone beyond providing an opportunity for sports fans to bet on the outcomes of games. People are applying the same sports gambling style to wager on other events. For instance, people want to bet on the results of events in politics and entertainment, especially those that involve contests or completions.

DraftKings has joined the sportsbooks league, making it possible for players to make these events-based bets. An area where DraftKings has had a lot of success in election betting. For instance, the sportsbook made it possible for interested persons to wager on the outcomes of the 2020 US presidential elections. In 2021, DraftKings announced election wagering for the New York mayoral polls and the Virginia governorship election.

Election betting opportunities make it possible for people not interested in sports and casino gambling to also participate in the betting markets. Then, election betting increases people’s social awareness and makes them participate in selecting their governments. Finally, research shows that betting markets have been good predictors of election outcomes over several decades.

However, unfortunately, wagers in the US are not allowed to participate in election betting as it is illegal in all 50 states. Only DraftKings players from other parts of the world can bet on the US and other elections. Nonetheless, we will soon have some election betting in the US, as regulators seem to be reconsidering the law banning it. For instance, Virginia authorities briefly lifted the ban but later reversed the decision.

Apart from politics, DraftKings also does well in entertainment betting. For instance, the DraftKings sportsbook offers access to betting on the Academy Awards (aka the Oscars) every year. Again, unfortunately, regulations have limited the number of wagers that can benefit from this opportunity. Only Michigan, Indiana, Colorado and New Jersey allow betting on entertainment events. So, DraftKings Indiana and DraftKings Sportsbook NJ players can wager on the potential winner of the “Best Picture” award at every Oscar.

Esports Betting

Traditional sports are not always available for betting, as they may be out of season. That doesn’t mean players have to be denied betting opportunities, as they can have access to Esports gambling. Esports betting involves gambling on video games and virtual sports tournaments. DraftKings calls them fantasy sports and is one of the sportsbooks leading in Esports offerings.

All Esports Games

DraftKings fantasy sports include betting on the outcomes of the most popular video games and virtual versions of real-life games. DraftKings takes Esports betting to a different level by allowing bettors to be players, as it features a gaming platform alongside the betting site.

You can bet on video games, including League of Legends, Dota 2, Call of Duty, CS: GO, Rocket League (RL), Valorant and others. You can be a player (where you select your team, etc.) and a wager (where you bet on the outcomes) on these games.

DraftKings Live Betting and Live Streaming

As you already know, DraftKings focuses on innovating to make gambling more enjoyable for its customers. Some of the innovative additions that DraftKings has provided include live streaming and live betting.

DraftKings Live Betting

Wagers are used to placing their bets before the games start. However, betting companies have seen the need to make it possible for players to make bets at any time. So, they introduced live betting.

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With DraftKings live betting section, players can wager on games while the action is still unfolding, at any time during the match.

DraftKings has one of the best live betting offers, with attractive odds and fast execution. It is called “Live in-game”.

You should note that the odds on DraftKings live betting will frequently change during a game, as the events and conditions of every game always change minute by minute. For instance, if a player gets a red card in a soccer match, expect the odds to change significantly. As a result, it may take some time for your live bet to get confirmed. Nonetheless, based on our DraftKings review, we know that DraftKings live betting is faster than several other sportsbooks.

DraftKings Live Streaming

When players make bets, it is common for them to want to be aware of what happens during the games. So, they tend to find a way to watch or get updates on each game. Accessing each game may not be easy as different platforms feature different games. For instance, while you can watch the MLB on Fox Sports, you can’t watch the NBA there. Also, you can’t get the English Premier League there.

To make the various sports available to wagers in one place, DraftKings has introduced live streaming on its sportsbook platform. So, on the DraftKings Sportsbook app, you can watch competitions such as the MLB and Bundesliga. The sportsbook has to enter into several partnerships to stream these events.

Unfortunately, you can’t still get some popular sports on DraftKings live streaming.

Mobile Betting

Today, most bettors tend to access online betting services from mobile devices such as smartphones and tablets. Thus, sportsbooks must optimize their platforms for a good mobile experience. DraftKings has made its platforms seamlessly available for mobile users to place bets and carry out other transactions.

First, you have the various websites for each product that DraftKings offers, such as fantasy sports, marketplace, casino and sportsbook. DraftKings has designed these websites to be intuitive, with different access and easily navigated sections.

DraftKings Betting App

While you can do everything you need from the mobile web, the experience is even better on the mobile application. DraftKings has developed a well-designed and highly functional app where you can carry out all betting activities, including opening an account, verifying your identity, depositing funds, placing bets and withdrawing your winnings.

The DraftKings mobile app is available on both Google Play Store (for Android-powered devices) and Apple App Store (for iOS devices). Note that DraftKings has different apps for different products. There are apps for Daily Fantasy Sports, Sportsbook, Casino, and DK Live (for live streaming and videos). There are also separate Daily Fantasy Sports apps for Canada and the UK.

DraftKings Pros and Cons

While DraftKings remains a great betting option with several benefits, there are also a few downsides. Here, we discuss both pros and cons of using DraftKings.

Cash Out

Normally, when bettors place bets, they must wait until the game or event ends before taking their profits. However, with DraftKings cash out, you don’t need to wait for long hours. Just like you can make bets during a game, you can close the wager right in the middle of a game. With this, you can secure partial winnings or reduce your losses if you see that it is not going the way of your bet.

You can use cash for all bets – pregame, live and parlay bets. All you need to do is go to the “My Bets” section, where you will find the “Cash out” button. Go on to close the bet.

DraftKings Odds

Sometimes, the DraftKings odds can be above-average, but for the most part, they are not as high as what you find in the industry.

Check if the odds boost is available for the selected games if you want better odds. DraftKings doesn’t have fixed odds for live games or the cash-out service.

Popular Countries for DraftKings Betting

Australia

Canada

United Kingdom

Other Products

Apart from sports and Esports betting, DraftKings also has other amazing products.

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For instance, there is a top-notch casino betting service. Here, players can wager on pregame and live casino bets across popular casino games such as blackjack, roulette, poker, slots and others. You get all the fun of the casino floor from anywhere via the DraftKings mobile app, desktop or mobile web platforms.

Contacts & Support

DraftKings provides different channels through which you can communicate with customer support.

They include:

• Live Chat
• Online Support Center, which is a form where you enter your requests
• Email – support@draftkings.com
• Physical mail to any of its offices in your country

Unfortunately, there is no access to customer support via phone.