How to Withdraw Money from a Sports Betting Account (Complete Guide)

Have you just won a huge parlay bet? Or maybe you’ve got some cash sitting in your sports betting account that’s been there for a while? Whatever the case might be, it’s a good idea to withdraw the money to your bank account so that you can actually use it — and this guide is going to show you how. 

Luckily, it’s easy to withdraw money from a sports betting account. This is true no matter which one of the popular betting sites you use, whether you’re on DraftKings or BetMGM. Best of all, the money can be withdrawn and accessed within 24 hours, so there’s no time-consuming delays either. 

Here’s what you need to do. 

How to Withdraw Money from a Sports Betting Account: 5-Step Process 

Step 1: Use a Licensed Online Sportsbook 

Before anything else, make sure you’re registered with an officially licensed online sportsbook taken from This way, you’ll never have to worry about your money being lost or stolen. Luckily, the US is home to over 50 licensed online sportsbooks, so there’s plenty to choose from. And if you already have an account with one of them, you can move right onto the step. 

Step 2: Check That Your Account is Verified

Before any winnings can be withdrawn, you need to check that your account is verified. Normally, this is done by supplying a government-issued ID. Also, you might have to confirm your email address and (or) phone number. 

Step 3: Choose “Withdrawals” from the Menu 

Once you’re verified, open up your online sportsbook’s menu and choose the “Withdrawals” option. This will then transport you to the place you need to be. Remember, almost every major online sportsbook has something called a minimum withdrawal amount (e.g. $10). You must have equal to or above this amount in your account in order for your withdrawal request to be accepted. Otherwise, you’ll need to keep betting on sports, such as NFL games, until you win enough money.  

Step 4: Select Your Withdrawal Method

Most online sportsbooks allow you to withdraw winnings using: 

💳 Credit or debit card 

🅿️ PayPal 

🏦 Bank wire

All you have to do is choose which method you prefer — easy. For instance, if you have a PayPal account and want your winnings to go there, select PayPal

Step 5: Wait for the Money to Arrive in Your Account 

Whichever withdrawal method you choose, you’ll typically have to wait no longer than 24 hours. However, sometimes withdrawals can take 24-48 hours depending on the sportsbook and method that you’re using. If for some reason your money doesn’t arrive in your account within the allocated time frame, then contact your online sportsbook directly for technical help, as there might have been an error with your withdrawal. 


Follow the above-mentioned steps if you want to withdraw money from a sports betting account this year. As long as you’re above the minimum deposit amount and choose a verified withdrawal method, you’ll be able to do this in no time and start enjoying the money you’ve won. 

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