Bookmakers will all typically have a minimum deposit amount in place, for either new accounts or top ups, and this is rarely a standard amount. Just as bookies compete on odds and markets, their deposit limits may also be set to compete.
This guide will hopefully allow you to understand a bit more about deposit limits and payment methods, including the benefits to their use. Here, we will specifically look at the DraftKings minimum deposit limit and give you some tips in terms of deciding if they are the right sportsbook for you.
There are two different times that most bettors will be making deposits: either their first deposit when setting up a new account, or topping up their balance once they’ve been using their account. The DraftKings minimum deposit for both of these two types of deposit, have their minimum set at the same value, $5.
Although using the DraftKings minimum deposit amount is enough to get you started and give you access to DraftKings offerings, it may not make you eligible for all bonuses or limit the benefit you can get out of the bonuses. For example, DraftKings current Lay Up sign up bonus, allows for a potential bonus of up to $1000, yet if you choose to only use the DraftKings minimum deposit sports betting limit, you will only be eligible for a bonus of $1.
We have created this guide in order to help you find and understand the minimum amount to deposit DraftKings accepts. Although this information is on the DraftKings website, it can be hard to find buried in the small print. If you do require any more details, DraftKings has a dedicated customer service team that is accessible through their help page, to answer any questions around the minimum deposit on DraftKings.
DraftKings accepts a wide range of payment methods. They recommend their customers use online banking, but they also accept credit and debit cards, electronic and DraftKing gift cards, PayPal, Play+ prepaid card, cash via participating cage locations, VIP preferred e-check and also wire transfers.
Despite the site wide deposit limit being $5, they do have extra limits for certain payment methods. Wire transfers have an absolute minimum of $100 for deposits.
There is a slightly eyebrow raising point about DraftKings’ terms and conditions. Most sportsbooks will make mention of their minimum deposit limit within their Ts and Cs, however they make no explicit mention of the DraftKings minimum deposit limit.
Now whilst it’s not a cause for any real concern, this limit has been in place for a while and there’s no suggestion it will change, the lack of a clear value in their terms and conditions does leave it open for potential change.
This information may seem fairly innocuous to some. There are plenty of bettors out there that won’t think to use or even necessarily worry about what the minimum deposit limit is. This does not mean it’s information to be discarded however, and can be a good way of choosing your bookmaker when asking questions such as ‘is BetMGM legit?’ or ‘Should I choose Draftkings?’
Whilst there may be similarities between sportsbooks with their limits and accepted payment methods, they are very unlikely to be identical across differing sportsbooks. As a customer, you are also likely to have a preferred deposit amount or method, whether that’s down to ease or any other reasons. Therefore making sure the two are aligned is key to making sure you have found the right bookmaker for you.
If you’re an experienced bettor or someone looking to place large wagers on your sports betting, then using the minimum deposit may not make the most sense. However the minimum deposit amount can have some pretty attractive uses.
First of all and potentially their biggest advantage, is that a low minimum deposit amount can seriously lower the financial barrier to entry for sports gambling. Plenty of casual gamblers may want to experience the fun side of sports betting, but can’t afford to stake big amounts of money. So being able to get started with smaller sums is key.
A lower minimum deposit can also be of great value to newcomers to the sports betting world. The lack of major early investment allows for bettors to start low and learn as they bet, whilst also allowing them to make a decision of whether sports betting is for them, all without having to first inject large sums of money.
The DraftKings’ offer of a $5 deposit limit is a limit actually set slightly below the line taken by many other sportsbooks. It is low enough to attract new bettors and also those with significant sports betting experience. The fact that their bonuses allow for the use of the minimum deposit makes them a good choice.
We hope that having read this guide, you now have all you need to know about DraftKings’ minimum deposit limit, as well as the payment methods they accept. It should hopefully have given you some background and tips on understanding the importance of the minimum deposit amount and the payment methods a sportsbook accepts.
Most bookies will offer a minimum deposit limit, for example the FanDuel minimun deposit and the BetMGM minimum deposit, however these limits will not always be the same amount. The DraftKings sportsbook minimum deposit limit is for both setting up a new account and any further account top ups. Follow the rest of our guides to see the minimum deposit to DraftKings and how this compares with their competitors.
Deposit limits across all sportsbooks may be in the same ballpark yet they can still differ between all major and smaller sportsbooks. Using our DraftKings reviews and guides will give you the information to aid in finding the right sportsbook for you.
A lot of bonuses, especially those that are specifically related to deposits, such as matched deposit bonuses, may require a certain amount to be deposited. Some sportsbooks will align this amount with their minimum bonuses but not all.
Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
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