8/2/2022

Draftkings Sportsbook Withdrawal Hold

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Legal and Licensed
  1. Draftkings Sportsbook Nj
  2. Draftkings Sportsbook Withdrawal Hold Funds

There are specific limits to each withdrawal method. Here are the limits: PayPal max withdrawal amount is $14,999.99, checks over $2,000 are sent via FedEx Priority Mail (but not if there is a PO box present). All other checks are standard mail. If you are making a withdrawal over $50k you should contact us at support@draftkings.com. There are specific limits to each withdrawal method. Here are the limits: PayPal max withdrawal amount is $14,999.99, checks over $2,000 are sent via FedEx Priority Mail (but not if there is a PO box present). All other checks are standard mail. If you are making a withdrawal over $50k you should contact us at support@draftkings.com.

The DraftKings sportsbook states that once their accounts department has processed your withdrawal, it can take between 2-8 business days for the funds to appear in your PayPal. (4)Complete your withdrawal First, enter the amount you would like to withdraw (more than US$20) followed by your preferred withdrawal method of choice. Next, click the orange “REQUEST WITHDRAWAL” button to process your withdrawal transaction.

  • Tons of player props
  • Up-to-the-Second Live Betting
  • Best teaser pricing
  • Clean, user-friendly interface

Lions, Tigers, and… Wolverines? That’s just the tip of the iceberg for Michigan sports bettors – oh my. Legal, regulated sports betting is now available in the Great Lakes State and leading the way is none other than the immensely popular DFS-turned sportsbook operator: DraftKings.

Withdrawals made after 5PM, or on weekends and legal holidays, will be processed the next business day. You need to also make sure you have a W-9 on file with DraftKings prior to submitting a withdrawal request. Withdrawals usually take 2 to 8 business days to post to your account. Check requests can take up to three weeks to deliver.

With years of experience in Daily Fantasy Sports, it should come as no surprise that DraftKings is highly adept at creating a fun, efficient mobile platform. DK Sportsbook first landed in the U.S. in New Jersey in 2018, and has been consistent in its expansion to virtually every state that has legislation to allow it. As of January 22, 2021, DraftKings Sportsbook is live and accepting legal bets in Michigan.

DraftKings Sportsbook MI Bonus Offer

DraftKings Sportsbook offers a 20% up to $1,000 first deposit match bonus to new sign ups in the state of Michigan. Let’s break it down:

DraftKings Sportsbook MI Promo CodeJust click here
Free Bet$100 Free Bet
Casino Bonus$100 Casino Credits
MI License PartnerBay Mills Resort Casino
Online LaunchTBA

After creating your DraftKings MI account, the sportsbook will award you bonus credits that are equal to 20% of your first real money deposit. As an example, if you deposit $1,000 you will receive $200 (20%) in free site credits. Before the bonus cash can be withdrawn, there is a 25x playthrough requirement that must be satisfied. For every $25 played, $1 in of bonus is unlocked and eligible for withdrawal. After the deposit has been made, users will have 90 days to clear the bonus.

While it’s tricky to clear in its entirety, any activity on DraftKings Casino or DraftKings DFS contests will also count.

When did DraftKings Sportsbook Launch in Michigan?

DraftKings Sportsbook MI accepted its first online bets on January 22, 2021. While it took more than a year from legalization to rollout, the wait is officially over. Place your bets.

DraftKings Reputation: Clean as a Whistle

DraftKings has established itself as a titan of iGaming after years of dominance in Daily Fantasy Sports. The company is no stranger to hosting and paying out millions in sports related contests every day. Having expanded its reach, DraftKing’s online casino and sportsbook operations have been both quick to market and extremely well executed – they know their way around a mobile app.

DraftKings was established in 2012, and as of April 2020 is publicly traded on the NYSE (DKNG). It’s as legit company and operation – you can trust DraftKings.

In addition, DraftKings has partnered with the Bay Mills Casino in Brimley, Michigan. All bets placed on DraftKings are as secure as the ones made directly at the casino.

Account Creation

Anyone that is at least 21 years old and located inside the state of MI is eligible to bet with DraftKings Sportsbook. Signing up doesn’t take long at all. Using any of the links on this page will send you over to the DK homepage. Click the large sign up button to get started. The first page of the registration process is pretty simple. Select your Username, enter an email address, and choose your password. Notably, there is a ‘Promo Code’ field – you don’t need to use it, just leave it blank.

On the next couple of pages you’ll be prompted to provide additional personal details, including:

  • First Name
  • Last Name
  • Birthday
  • Address
  • Phone Number
  • Last 4 Digits of Social Security Number

Don’t be worried about providing your SSN, it’s a standard part of the online sports betting process in the U.S. – it is required by every sportsbook, in every state. The operator needs to have it so that they can confirm that you are who you say.

Geolocation

Lastly, before you can legally place a bet, the installation of a geolocation plugin is required. This handy little piece of software, in combination with your WiFi connection, will be able to determine exactly where you are. Once logged-in you’ll be redirected to a page with convenient links for download:

After it is installed it will work its magic and approve you for betting. If you aren’t inside the state of Michigan you can still deposit, withdraw, and browse the lines and available bets on DraftKings sportsbook, but you won’t be able to finalize a wager until you’re back in-state.

Deposit Easily, Get Paid Fast

Making deposits and cashing out winnings is never a concern with a regulated online sportsbook like DraftKings. Michigan bettors will have access to a cashier that is packed with options. You can deposit with credit cards, eWallets, cash, or even link your to your bank account directly. Popular options include:

  • Credit Cards – Usually Visa/MasterCard, though AMEX and Discover are also a possibility.
  • ACH/eCheck – An easy, convenient digital check.
  • Online Bill Pay – If your bank offers online bill pay features, you’re good to go.
  • PayPal – You can use PayPal for a million things, including deposits and withdrawals from DraftKings Sportsbook. If you don’t have a PayPal account, you can set one up really easily.
  • PayNearMe – Start the deposit process online and DraftKings will shoot you a barcode. Print it out, or save it on your phone and take it over to a nearby 7Eleven, Family Dollar, or CVS Pharmacy and they can scan the barcode and ring you up for a cash deposit right at the register.
  • Cash at the Casino Cage – Another benefit of regulated iGaming is that each online sportsbook and casino is usually tied to a brick-and-mortar establishment. In Michigan, DraftKings has partnered with the Gun Lake Casino where you will be able to deposit in-person with cash at the casino cage.
  • Bank Wire – They’re not the fastest option, but you can arrange for a wire transfer to or from your DK account.
  • Paper Check – Checks are typically just used for withdrawals, but sometimes DraftKings will offer the option to cut you a paper check and mail it over to your registered address.

Bet via Mobile App or Browser

DraftKings online sportsbook is available everywhere in the state of Michigan, on pretty much any device you could envision using to place a bet with. Primarily, bettors rely on either using a traditional web browser or the DK mobile app.

Bet From Your Computer

Sportsbook

To bet with your computer, simply visit the DraftKings Sportsbook MI website and log-in to your account. The book itself will be laid out nicely, and a major benefit to accessing it through a browser is that there is plenty of screen space to hunt for the right wager.

The home page generally offers the current, ongoing games right up front in case you wanted to get involved in live betting. A little further down you’ll have important upcoming contests. You can also navigate the book by choosing the sport you want to bet on, which is located at the top of the screen.

After you’ve narrowed it down, you just have to click the bet you want and it automatically populates on your betting slip with the current odds. Type the amount you want to put up, and hit the button. Bing, bang, bet.

DraftKings Sportsbook Mobile App

On top of betting from a browser, it’s also possible to download the DraftKings mobile app to your smart phone or tablet. With it you can take the entire sportsbook with you, no matter where you are in the state of Michigan. The app is available or iOS and Android devices alike – visit your chosen app store or the DraftKings MI website for a direct download link.

After logging-in, the overall aesthetic should largely mirror what you find when betting from a computer. However, due to being on a smaller screen, the use of space will be slightly different. It’s still super easy to navigate between different sports and bet types, though when it comes time to place a bet your betting slip will appear from the bottom of the screen as opposed to being on the right, like it is on a browser.

Overall, DraftKing’s years of experience running DFS contests through its mobile app come in handy. It’s a polished product that is easy to use, and lacks major flaws. From the app you can conduct all major account functions including both deposits and withdrawals, you can contact support, check promotions, and more. Give it a try.

DraftKings Safety and Security

To put it simply, DraftKings Sportsbook is as trustworthy as it gets. The company is operating in the state of Michigan through a partnership with the Bay Mills Resort & Casino, an established brick-and-mortar property located in Brimley – on the Upper Peninsula.

Michigan was the next state in a long line of successful online sportsbook rollouts for DraftKings. You can already catch them in states across the country, including the likes of New Jersey, West Virginia, Indiana, Pennsylvania, Iowa, Illinois, Tennessee, Colorado, and more.

Draftkings Sportsbook Nj

In addition, all Michigan online sportsbooks must comply with, and meet the standards set forth by the Michigan Gaming Control Board. The MGCB’s watchful eye has been keeping MI gamblers protected since its inception in 1996. The organization in general is accessible and transparent in its practices. Public meetings are even available at regularly scheduled times at its Detroit office. If there are issues, you can trust they will be addressed in a timely manner.

Michigan Betting Markets and Types

Fortunately, when Michigan legalized online sports betting it did a solid job of providing operators like DraftKings with a clean slate. Basically every major sports, professional and collegiate, is up for grabs, including (but certainly not limited to):

  • Soccer
  • Hockey
  • Combat Sports (UFC/Boxing)
  • Golf
  • Motor Sports
  • Cycling
  • Tennis
  • Rugby
  • Cricket

… and when it comes to the types of bets, the world is your oyster. Bet the moneyline, an over/under, spreads, props, or futures. You can also engage in live, in-play betting as the action takes place. For example, you can wager on who wins the next Set, Game, or even Point during a tennis match. Bettors also have the ability to build fun, creative parlays that offer up the chance at a massive payday.

Pool Betting

DraftKings offers a couple of handy features/game types that allow users to engage with their bets a little differently, like Pools. DraftKings Pools are a lot of fun – you enter the pool with a set buy-in, but then get to make lots of mini-bets within it. For example, during a basketball game participants might be asked questions like which star player will score the most points? Will anyone in the game have a double/double? Which team wins? etc., etc.

Draftkings Sportsbook Withdrawal Hold

Once the game or event is over, whoever was most accurate with their picks and tops the leaderboard will take the biggest prize.

DraftKings Rewards

If you’re familiar with DraftKings’ “Crowns” program for DFS rewards… unfortunately that knowledge won’t help you much here. DK elected to create an entirely different rewards scheme for their sportsbook/casino.

The sportsbook loyalty program is centered around “Missions”. The more missions you complete, the more promotions you’ll have access to. Odds boosts, free bets, and exclusive deposit bonus offers are just a few examples of what you can unlock.

We wish it was more of a cut and dry – bet X amount receive X back in rewards – but everything related to the loyalty missions hinges on the DraftKings team evaluating your activity and awarding you accordingly. It may not be exact or comparable from person to person.

Regardless, there IS value here, which always makes a difference in the world of sports betting where the margins are often razor thin.

Additional Promotions

Separate from the rewards program, DraftKings offers many of the same public promos and extras in Michigan as it has in other states. These include: Free bets, bet insurance, boosted odds on specific wagers, unique bonuses, and more. Navigate over to the ‘Rewards’ section and then click on ‘Promotions’ to see what’s currently available. Offers listed here would be up for grabs regardless of your Missions/Loyalty status.

Support

In Michigan, like other states with DK Sportsbook, bettors have access to knowledgable, competent support representatives through a variety of methods, including:

  • Live Chat
  • Email
  • Phone

You never have to worry that support will ghost you on an important question, which can happen with offshore sites. All of the DraftKings resources are at your fingertips.

DraftKings General Info

DraftKings was founded in 2012 in Boston, Mass., initially focusing on Daily Fantasy Sports contests. Before long the company was everywhere, agreeing to partnerships with major sports leagues and networks like the MLB, NHL, NFL, ESPN, and FOX.

In May 2018 the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), enabling each state to individually legislate sports betting. Just a few months later DraftKings was the very first operator to go live in the New World of regulated betting, launching its online sportsbook in New Jersey.

Just a few months after its initial foray into sports betting, DraftKings debuted its first online casino in December 2018, also in NJ.

In the time since DraftKings has generally been first, or one of the first to begin accepting online wagers in each new state to approve betting. Michigan officially became on of DK’s active states in January 2021.

After a long wait, many Michigan online sportsbooks and online casinos finally go live today.

DraftKings has been one of the first to market in every state it has launched; Michigan is no expectation.

This handy guide will help you navigate the mobile DraftKings Sportsbook. Below you can find information on creating an account, depositing funds, placing bets, and sports you can wager on.

New User Bonus. T&Cs Apply.
Up to $1,000 Deposit Bonus

How DraftKings Sportsbook bonus works

DraftKings offers several odds boosts, bonuses, and promotions.

When you sign-up with DraftKings, you receive a $25 free bet even before you make your first bet; however, this is for new customers only.

New customers also receive a 20% match bonus up to $1,000. For example, if your first deposit is $100, DraftKings will give you a free $20 bonus.

  • Exclusive bonus: $25 free bet
  • Deposit bonus: 20% match up to $1,000

Creating a DraftKings account to begin online sports betting in Michigan

The first step to online sports betting in Michigan is creating an account. Luckily, you can do this from the comfort of your home.

First, find the DraftKings Sportsbook app for iOS or Android and download it. Next, you will be asked to enter some personal information. Some people might be hesitant at first, but you will be asked for this information regardless of which sportsbook app you choose.

Information you might be asked for may include:

  • Social security number (last four digits)
  • Email address
  • Phone number
  • Date of birth
  • Address and zip code
  • Full name

Additionally, you may be asked to download geolocation software (desktop) or switch on your location services (smartphone).

Create a username and password, and you are done.

Funding your DraftKings Michigan sports betting account

You’ve created an account; now, it’s time to deposit funds. Like other online accounts such as Amazon, Doordash, and Grubhub, you can transfer money from your personal bank account into your DraftKings account. This money is yours, and you can withdraw it at any time, day or night.

Across the US, all sportsbooks, DraftKings included, offer fast and easy ways to deposit money. Some of the easiest include:

  • Credit/debit card
  • E-check
  • Wire transfer
  • Paypal/Skrill
  • DraftKings Prepaid Play+ Card

Of course, all these options are for online sportsbooks. While cash deposits are an option, it is traditionally reserved for retail sportsbooks.

Draftkings Sportsbook Withdrawal Hold Funds

Making withdraws

As mentioned, you can withdraw your funds at any time. DraftKings provides a few options to make things simple. All you do is click on your profile in the top left corner. Select “withdraw” and follow the instructions on the screen.

Withdraw options include:

  • Paypal:3-5 days with a $1 minimum
  • Check:7-14 days with a $15 minimum
  • Online banking:3-5 days with NO minimum

Placing Michigan online bets with DraftKings

Once you have your account created and funded, it’s time to start placing bets.

Betting with DraftKings is easy. On the home screen, you can view a list of games for the day. Simply tap on which game you want to bet on, a “bet slip” screen will pop up and ask how much you wish to wager. Enter your amount and select “place bet” at the bottom.

A few traditional bets you can place are:

  • Parlay bets
  • Moneyline
  • Point Spread
  • Over/under
  • In-game bets

Live bets or “in-game wagers” vary depending on the sport. For example, during professional football games, you can place bets on “who will score the next touchdown” or “how many points” will be scored at the end of a specific quarter.

Additionally, if you are already familiar with MI sports betting at the state’s retail casinos, you know there are several Michigan sports teams you can place bets on. These teams are:

  • Detroit Lions (NFL)
  • Detroit Red Wings (NHL)
  • Detroit Tigers (MLB)
  • Detroit Pistons (NBA)
  • Michigan Wolverines (NCAA)
  • Michigan State Spartans (NCAA)
  • Western Michigan Broncos (NCAA)
  • Central Michigan Chippewas (NCAA)
  • Eastern Michigan Eagles (NCAA)

Upcoming sporting events you can bet on now

Now that Michigan online sports betting has become a reality, there are several upcoming events you can start placing bets on now. Your options will be identical to retail locations so, if you can bet on a UFC match at a retail sportsbook, you can do it online as well.

A few upcoming events include:

  • UFC 257: McGregor v. Poirier (Jan. 23)
  • NFC Championship: Tampa Bay Buccaneers v. Green Bay Packers (Jan. 24)
  • AFC Championship: Buffalo Bills v. Kansas City Chiefs (Jan. 24)
  • Super Bowl LV: NFC v. AFC (Feb. 7)

Of course, there are a number of popular sports to bet on. Some include:

  • Hockey
  • Basketball
  • Golf
  • Tennis
  • MMA/boxing
  • Baseball

Lastly, you can start placing futures bets on several championship games like the following:

  • 2021 NCAA College Football Champion
  • 2021 World Series Champion
  • 2021 NBA Finals Champion
  • 2021 Stanley Cup Champion