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  • anchordown

    What is the best way to move $7,000 out of my account-Paypal,bank wire,or check? I have never moved this much out.

  • emac

    Reach out to support@draftkings.com there is a good chance they will send you a check (usually via an express service) for something in that amount, though the cutoff could be $10,000 since I can’t remember off-hand.

    Or you could take out three smaller payments (transactions in the $2-4k range are generally processed electronically), but remember, depending on how you made your deposits those could be the first to be “credited” back (i.e. credit cards or prepaid gift cards).

    EMac

  • madmanjayWV

    @emac said...

    Reach out to support@draftkings.com there is a good chance they will send you a check (usually via an express service) for something in that amount, though the cutoff could be $10,000 since I can’t remember off-hand.

    Or you could take out three smaller payments (transactions in the $2-4k range are generally processed electronically), but remember, depending on how you made your deposits those could be the first to be “credited” back (i.e. credit cards or prepaid gift cards).

    EMac

    have them send you a $5,000 check — put $500+ or so into paypal and leave the rest on — then if you want move another $500 once/twice over to paypal in the following week or so….

    And true on EMAC’s stuff — u will get “CREDITED” back to how the supply of your funds/$$$ came in via DK

  • tprokopenko

    I just withdrew a similar amount a couple weeks ago via PayPal. Super fast, had the funds in my bank in 3 days.

  • Shipmymoney

    • 60

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    • Ranked #12

      RG Tiered Ranking

    • x3

      2016 DraftKings FBWC Finalist

    • 2016 FanDuel MLB Playboy Mansion Finalist

    Yeah you should be fine with PayPal under 10k

  • walkoff9

    They will FedEx you a check in like 1 or 2 days. Ive gotten like 18k.

    But like others have said they will refund your deposits first.

  • Mindofigor

    I’m not sure about 7k but they usually deliver bigger payments to my house in a Brinks truck.

  • yisman

    @madmanjayWV said...

    have them send you a $5,000 check — put $500+ or so into paypal and leave the rest on — then if you want move another $500 once/twice over to paypal in the following week or so….

    And true on EMAC’s stuff — u will get “CREDITED” back to how the supply of your funds/$$$ came in via DK

    why would you do multiple paypal withdrawals instead of just one?

    I just got a 2k paypal payout. Went well.

  • g_nagy

    If you get on their chat support (DK, that is), you can ask for them to exclusively put withdrawals into your PayPal on file instead of refunding original payment forms (credit cards, gift cards, etc). I know they did that for me once upon a time ago, so not sure if they would still do that now.

  • revetseb

    I’m sure this will never apply to me but I’ve always wondered how they pay out the Milly winners? Say I win the million this week in Golf, do they send me a 1 million dollar check in the mail?

  • fsunole64

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    • Ranked #22

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    • 2018 DraftKings FFWC Finalist

    • x3

      2019 DraftKings FFWC Finalist

    Usually over 10k just do wire transfer that is what I do.

  • yisman

    @g_nagy said...

    If you get on their chat support (DK, that is), you can ask for them to exclusively put withdrawals into your PayPal on file instead of refunding original payment forms (credit cards, gift cards, etc). I know they did that for me once upon a time ago, so not sure if they would still do that now.

    As a rule, they don’t do that, but they occasionally will make an exception if you ask.

    The reason they refund first is because it saves them the fees.

    If you deposit by CC and withdraw by PayPal, they’re paying fees both ways (a few percent).

  • superstars92

    • 537

      RG Overall Ranking

    You should probably opt for the Fed Ex priority mail. It’s very safe (requires your signature), and if it gets lost, no one else can just cash your check so you can get another one.

  • Ndepompei

    @anchordown said...

    What is the best way to move $7,000 out of my account-Paypal,bank wire,or check? I have never moved this much out.

    you might be ok with paypal but i tried to withdraw about 18k paypal and they had to send a check…said paypal wouldn’t approve it

  • Lathum

    Solid humble brag

  • sonic999

    @Ndepompei said...

    you might be ok with paypal but i tried to withdraw about 18k paypal and they had to send a check…said paypal wouldn’t approve it

    Anything over $9,999 DK won’t send via paypal. Otherwise, paypal the easiest. If you get a check, like someone else said, make sure its sent fed ex with a signature. Why take a chance on the mailman?

  • joerapjr

    @Mindofigor said...

    I’m not sure about 7k but they usually deliver bigger payments to my house in a Brinks truck.

  • joerapjr

    It’s always best to email Support if you have a question before acting. All of the top DFS sites have fantastic customer service departments and are usually very prompt to respond.

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @tprokopenko said...

    I just withdrew a similar amount a couple weeks ago via PayPal. Super fast, had the funds in my bank in 3 days.

    This. Just use Paypal. I’ve done it for that amount before with no issues. In my bank account in 3-4 days maximum.

  • JGENNARO29

    • $1M Prize Winner

    • 2019 DraftKings FFWC Finalist

    @revetseb said...

    I’m sure this will never apply to me but I’ve always wondered how they pay out the Milly winners? Say I win the million this week in Golf, do they send me a 1 million dollar check in the mail?

    I got mine via wire transfer, in my bank account within two days. Was amazingly fast and easy. I expected all sorts of hurdles and red tape.

  • Ndepompei

    @JGENNARO29 said...

    I got mine via wire transfer, in my bank account within two days. Was amazingly fast and easy. I expected all sorts of hurdles and red tape.

    I always wondered about the taxes with winning a milly…is there an option where you can pay up front? I won small 5 figures earlier this year and was stressed about saving the taxes I couldn’t imagine having the million

  • JGENNARO29

    • $1M Prize Winner

    • 2019 DraftKings FFWC Finalist

    @Ndepompei said...

    I always wondered about the taxes with winning a milly…is there an option where you can pay up front? I won small 5 figures earlier this year and was stressed about saving the taxes I couldn’t imagine having the million

    I wanted that but didn’t get it as an option. The whole thing was sent to me and I had to declare them on my tax return.

  • superstars92

    • 537

      RG Overall Ranking

    @Ndepompei said...

    I always wondered about the taxes with winning a milly…is there an option where you can pay up front? I won small 5 figures earlier this year and was stressed about saving the taxes I couldn’t imagine having the million

    Why would you want to pay upfront? If you end up losing money after you paid your taxes, then your situation gets super tricky. You would have overpaid your taxes for that year (since your net winnings is less than what you paid taxes on), and you need a credit for next year, and the situation just gets confusing.

    Plus if you work another job, you definitely don’t want to pay your taxes on the DFS part alone since it will be a combination of your two incomes you need to pay taxes on. You might have a refund your taxes on your normal job for example.

  • Ndepompei

    @superstars92 said...

    Why would you want to pay upfront? If you end up losing money after you paid your taxes, then your situation gets super tricky. You would have overpaid your taxes for that year (since your net winnings is less than what you paid taxes on), and you need a credit for next year, and the situation just gets confusing.

    Plus if you work another job, you definitely don’t want to pay your taxes on the DFS part alone since it will be a combination of your two incomes you need to pay taxes on. You might have a refund your taxes on your normal job for example.

    Right that all makes sense I just wouldn’t want that huge tax liability hanging over my head for a year

  • superstars92

    • 537

      RG Overall Ranking

    @Ndepompei said...

    Right that all makes sense I just wouldn’t want that huge tax liability hanging over my head for a year

    Yea I think you can estimate that. Since you said you won small 5 figures earlier this year (from looking at your history it looks like from golf right so like 20k ish?). Most likely you are going to have to pay taxes this year, but it’s not guaranteed. It depends on other things like how much your normal job owes you in tax refund. If they owe you like 8k in refunds and you have to pay 8k in taxes on DFS, you might not even pay anything at the end of the year. You probably wouldn’t owe taxes from your job since usually they are good with that. Only situation you might are like you got extra tips, etc. or somehow your investments made a ton. So generally worse case is you probably owe like 8k in taxes from 20k (also depends on your overall tax bracket), but won’t be much, so just keep like 16k in your bank to be safe. Usually you can estimate.

    Obviously if you won 1M it’s different, but I don’t see how you can blow through 400k in taxes. If you lose 400k in DFS, you just won’t owe as much taxes, so that’s fine. Only real way for you to not be able to pay is if you somehow spent like 600k immediately on items/gambling in casinos, etc. and in that case, you don’t deserve 1M.

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