NASHVILLE, Tenn., Feb. 5, 2021 /PRNewswire/ -- Let's say youbet on the big game through an online sports betting sportsbook andBAM!, you win. Now what? How do you get your winnings? Theturnaround time on your cash is dependent on the sportsbook withwhom you placed your bet.
However, in New Jersey it'sbeen found that some sportsbooks may not be completely on the upand up with cash withdrawals. The sports betting regulator inNew Jersey, The Division of GamingEnforcement (DGE) recently called out sportsbookoperators for encouraging players to cancel their withdrawals andcontinue wagering.
There are four sportsbooks operating in Tennessee and all but one of thesesportsbooks, Action 247, operates in NewJersey. While the regulators haven't named any names,regulators in New Jersey foundthat some sportsbooks have been known to encourage players tocancel (or reverse) their withdrawals (winnings) in hopes they willbegin wagering again. As of now, no Tennessee players have reported issues withthe withdrawal process on any of these sportsbooks.
Draftkings Sportsbook Withdrawal Time
DraftKings sportsbook spreads five withdrawal methods, including ACH/e-Check, wire transfer/online banking and PayPal. You can also cash out money at one of DraftKings’s retail sportsbooks in the U.S. Processing times vary, but cash-out requests can take up to eight business days. Checks by mail take up to three weeks to arrive. At the time of writing this review, DraftKings had 13 different fantasy sports to choose from. More importantly, for each sport, there are numerous contests you can enter, and they all come with their own special scoring system. DraftKings DFS Deposit & Withdrawal Options.
Players are allowed to cancel a withdrawal, if they choose todo so. But prolonging the process in hopes that someone willjust give up and gamble more money or encouraging or enticing themto reverse their withdrawal request is completely unfair toconsumers.
Know Your Withdrawal Options
How To Withdraw From Draftkings
If you live in Tennessee andyou bet with one of the four operating sportsbooks, Action 247,FanDuel, DraftKings, and BetMGM, here are your withdrawaloptions:
Draftkings Withdrawal Time
Action 247 has partner locations in Tennessee, and because of this, they are ableto boastalmost instant in-person cash transfer times.Additionally, the average approval time for a digital withdrawalis 15 seconds.
DraftKings does not stipulate how long payment processinginitially takes. The book does mention that it generallytakes 2-8 business days after the AccountingDepartment processes a withdrawal for funds to appear in auser's account.
At BetMGM, the internal review process can take up tofive business days, though the sportsbook approves some withdrawalsin as little as a few hours. Once processed, each method has aslightly different transfer rate.
FanDuel processes PayPal withdrawalrequests within 48 hours. Online banking takes 2-4business days and checks arrive within 7-10 businessdays.
Draftkings Golf Picks
Let's break it down even further:
How To Cancel Draftkings Account
Sportsbook | Tennessee Cash | In-Person Cash | Digital WithdrawalTime |
Action 247 | 100+Locations | Instant | 15 seconds |
DraftKings | 0 | Notavailable | up to 8 businessdays |
FanDuel | 0 | Notavailable | up to 4 businessdays |
BetMGM | 0 | Notavailable | up to 7 businessdays |
Draftkings Credit Card Fee
If sportsbooks intend to stay in business, they will have toplay by the rules and consumer fairness and responsible gambling gohand in hand.
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