DraftKings Withdrawal Process

Good afternoon,

I'm writing this post to gather some feedback on weather or not this particular online gaming entity is practicing unethical behavior or am I just perceiving this from my view only. I think what they did was a little shady and I really don't want this to happen to anyone else out there.

So I deposited on a Thursday night and started playing some blackjack, slots and betting sports. Long story short, I made a significant amount of money and cashed out (2) large withdrawals ($5000 and $5000) Saturday while leaving a few hundred left to play with. I continued playing over the weekend and ended up cashing out 2 more withdrawals of $1,000 each. So in summary, I had 4 withdrawals in total . (2) for $5,000 each submitted Saturday and (2) for $1,000 each submitted Monday morning totaling (4) cashouts of $12,000. This is where I think unethical behavior was being practiced. This entity processed my 2 smaller withdrawals first before the MUCH larger ones, even though the much larger ones were submitted days before the smaller ones. I gave this some serious thought as to why this had happened. Some of the questions rolling around in my head were as follows:

Do they process the smallest withdrawals first, or do they process withdrawals by account in some alphabetical order? If so alpha, why weren't all my withdrawals done at the same time?
Do they process the withdrawals based on when they were submitted?
Do they look at your gaming history and decide which to approve and which not?
Do withdrawals over a certain amount take longer or shorter to approve?

It just seemed wrong that they did this. It was obvious looking at my account that I had been gaming hard for days with little sleep and downtime. I could envision a manager saying "process the smaller ones first, leave the bigger money on the site because he might still lose it, and that's good for us". For a gambler, that's like leaving food in front of a dog and telling him not to eat it.

Any feedback would be appreciated. I just wanted to reach out to some fellow gamblers before I submitted a complaint to at least the BBB, but possibly the AG as well.

J's Saint

The larger withdrawals went over some threshold requiring additional approval. The smaller ones didn't.

LOL @ contacting the BBB and AG because they didn't process your initial withdrawals fast enough for you.

They probably had to file a SAR for your Saturday withdrawals.

Quote: SaintJoseph

Any feedback would be appreciated. I just wanted to reach out to some fellow gamblers before I submitted a complaint to at least the BBB, but possibly the AG as well.

not sure if any of those people would give you the light of day let alone a minute to complain about that

https://lcb.org/ is the one your looking for - check it out but i dont think what they did was too shady. im sure they can make their own TOS or whatever agreement you agreed to that said they can do that.

...........................


this is an article from Jan. 2019 about a litigant who sued DraftKings in New Jersey


from the article:


"The New Jersey Division of Gaming Enforcement said Monday that it was looking into the issue

Leong, who is represented by attorney Maurice VerStandig, is seeking the return of the $10,000 entry fee, treble damages under the New Jersey consumer protection statute, attorneys' fees and punitive damages potentially in the range of $334,000."


I'm not suggesting you consider a lawsuit - that's up to you

and I'm not 100% sure of this - but it's possible you may be able to contact and get assistance from the New Jersey Division of Gaming Enforcement

if your bets were accepted at a different location it's possible that this New Jersey office can refer you to the correct place to file a complaint that would get their attention



and of course, all of these suggestions are irrelevant if you're able to get your money within a reasonable amount of time
if you think they're doing this because they're hoping you gamble more and lose what you have won then the best thing to do would be to not do that

either not gamble or gamble somewhere else






https://www.espn.com/chalk/story/_/id/25788307/civil-complaint-filed-draftkings-sports-betting-national-championship

Welcome to the forum, SJ. I may have missed it, have you still not received the two $5k payments? Were any of the monies as a result of a sign on bonus, and you hadn’t met the cash out criteria yet?

If you're waiting on the postal service there could be a week or two or 3 or 4 lag because of the postal system vandalism.

TMI for me to mull over everything, but I get the gist.

Since this is a regulated online U.S. casino, I would like to know all the facts and them to be verified. I highly suggest you contact the Wizard himself and give him all the information and details to verify everything you have said.

If the casino is doing anything shaddy, unethical or against the state rules you should show proof and bring it to everyone's attention.

I noticed that the same Terms and (crappy) Conditions are a corbon copy of the same rules the unregulated rogue casinos had..
Some of the places who seem to be now running the "legit" online casinos were once blacklisted and even on Rouge black lists at one time.

Are any original American companies actually running the "regulated online gambling sites"?

In case you are unaware, I wouldn't exactly list Draftkings or Fanduel fantasy histories as "not shady." LOL.

Look up the New York Times articles from a few years back. At that point, Draftkings and Fanduel were separate entities, but what happened was that the founders and employees used some trickerations to make money. The people with the mega-entries were cornering the vast majority of the money, and the percentage relationship was very economy of scale. The bigger players, who paid in 50% of the money extracted 80% of the wealth, or something to that effect. What made it problematic was that, although Fanduel associates were not allowed to play on Fanduel, they knew which players the public had in which percentages, so they played on Draftkings. Draftkings associates, ditto, only they played at Fanduel.

So the cross-company mega-entries were scarfing up all the money. It was insider trading of a sort. Small players had little chance. When this all came to light, that was the beginning of the "single entry" options for both companies. The law leaned on them to clean things up a bit and make it "more fair."

So nothing they might do would surprise me.

Quote: unJon

They probably had to file a SAR for your Saturday withdrawals.

This is a good point. And perhaps it doesn't matter, but a $10,000 withdrawal request (split over 2 $5,000 requests), may trigger a computer generated red flag. And on a Saturday.

You were paid, correct?

I am not sure about where you are playing (NJ?), but in Indiana, a quick scan of the FanDuels Ts & Cs reveals, "...(electronic) withdrawal requests will be processed within three (3) business days." My own experience? Small dollar (<$500) withdrawal requests are processed within 24 hours.

Based on the information provided in the original post, assuming you were paid, seems on the up and up to me.