DraftKings Minimum Deposit Limit: Sportsbook and Casino

Author:

Bogdan L

Updated:

Aug 12, 2023

Massive fan of eSports and slots. Bogdan has been in the iGaming industry for over four years and constantly following live betting and slot streams.

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DraftKings Minimum Deposit

Getting started with DraftKings sportsbook doesn’t have to be expensive. DK has one of the lowest deposit amounts going. In this guide, we will run down the DraftKings minimum deposit amounts and show you what the amount is for each of the deposit methods as it does vary.

DraftKings is one of the best online sportsbooks and casinos thanks to its long list of sporting events and betting markets, the same game parlays feature, the wide selection of thrilling casino games, and its user-friendly and highly functional DraftKings sportsbook app.

Besides all these features, DraftKings has another ace in the pocket that keeps attracting hundreds of new players – the low deposit limit which is one of the lowest compared to other legal online sportsbooks.

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What is the Lowest Minimum Deposit at DraftKings?

The lowest minimum deposit at DraftKings sportsbook and casino is just $5. As we previously mentioned, DraftKings is one of the best online gambling platforms in the country, and one of the many reasons for that is the low deposit limit.

Users should be aware that the deposit limits can vary according to the requirements of each payment method. To be more precise, here’s a table with all the deposit methods accepted at DraftKings online sportsbook and online casino and the minimum amount for each one.

πŸ’³Deposit MethodπŸ’²Minimum Deposit Limit
Online banking$5
VIP Preferred$5
PayPal$5
Credit and Debit Cards$5
Cash at Cage$5
Cash at Retail$5
Venmo$5
Wire transfer$100
Electronic Gift Card$5
DraftKings Gift Card$5

What does minimum deposit mean?

To be able to bet online or play games in the DraftKings Casino, every customer first needs to make an initial deposit into their DraftKings account via one of the accepted deposit methods.

However, each deposit method comes with a specific minimum limit that indicates the smallest amount of funds players can use to make their initial deposit into their DraftKings account.

Is the DraftKings minimum deposit limit low?

DraftKings minimum deposit limit is only $5, which makes it one of the lowest in the entire industry. The low minimum limit at DraftKings will likely continue to attract new sports bettors, considering how most of DraftKings’ competitors usually set their minimum deposit limits at $10.

Although the minimum limit at DraftKings is significantly low, it still allows sports bettors to be eligible for all the DraftKings promo offers available with a DraftKings bonus code.

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Why are minimum deposit limits important for betting?

Minimum deposit limits on sports betting and online casinos are a great marketing tool for multiple reasons. It helps them communicate more efficiently with their target group of sports bettors, attract more customers, or promote some of the company values.

DraftKings is an online sports betting and casino platform that has been known for its support of responsible gambling. Thus, setting such a low minimum limit encourages sports bettors to be more cautious.

On the other hand, by setting a low deposit limit, DraftKings implements a sophisticated strategy for attracting new players. Novices would ideally deposit low amounts to test the waters before committing to the platform. Setting low minimum limits allows legal sportsbooks and casinos to become appealing to a larger share of the market and expand their pool of sports bettors.

Best Low Deposit Banking Methods at DraftKings

Whether you like to use credit or debit card, DraftKings gift cards or other electronic gift cards, or you want to make wire transfer and directly connect your bank account, DraftKings has a myriad of banking methods through which you can make your initial deposit, and luckily for sports bettors, most have a low minimum limit. Here are the top three.

PayPal

E-Wallets are quickly becoming one of the most convenient ways for sports bettors to deposit funds to their online sportsbook and casino accounts, and what’s a better E-Wallet choice than PayPal? Using a PayPal account is one of the most secure options for making low deposits, and the funds get transferred instantly both on the DraftKings mobile app or the web platform.

Credit and Debit Cards

Credit cards and debit cards are another excellent low-deposit banking option for those looking for a more traditional way to fund their DraftKings sportsbook and casino accounts. The lowest deposit limit for debit and credit cards is $5. DraftKings accepts all the major card issuers, such as Visa and Mastercard as both deposit and withdrawal methods.

Venmo

Venmo is another popular low-deposit banking method that lets sports bettors get their funds deposited to their DraftKings sportsbook account instantly. The minimum limit at DraftKings sportsbook and casino is only $5, and sports bettors can make deposits easily through the DraftKings app or the DraftKings mobile web platform.

Pros and Cons of Using the DraftKings Deposit Minimum

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Up To $1,000 Deposit Bonus
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  • The best sportsbook
  • Amazing odds & offers
  • Awesome betting app
Up To $1,000 Deposit Bonus
21+. T&C Apply
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968 ratings
Review
$50 Casino Credits + $2,000 Bonus
  • Excellent mobile app
  • User-friendly design & games

Offering a low minimum limit will always be DraftKings’ valuable tactic that allows the company to attract an astonishing number of sports bettors and casino players. And although the low deposit limits give players a lot of advantages, it’s worth saying that depositing the minimum can sometimes also generate some disadvantages.

Low Risk

Using the DraftKings deposit minimum can be the most suitable way to start the DraftKings sportsbook and casino gambling adventure for various types of sports bettors. By depositing the minimum amount, newcomers to the DraftKings sportsbook and casino can get an opportunity to test the waters, see how DraftKings operates and check out most of the features.

The more experienced players who already know how DraftKings operates, but tend to be more conservative with their money, can make the minimum deposit amount to ensure they gamble responsibly.

Bonus eligibility

One of the best perks of the DraftKings low deposit limit is that although it’s only $5, it still provides players with bonus eligibility. By depositing the minimum and entering a DraftKings sportsbook promo code, every new player at DraftKings is eligible for the generous welcome bonus offer and all the other DraftKings promotions available on the DraftKings app.

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Limited Winning

Players hunting for big cash winnings and looking for ways to hit large jackpots will have to deposit much more than the minimum on their DraftKings account.

Making the lowest deposit and placing a minimum DraftKings bet puts boundaries on the size of the winnings, so more experienced players will see this as a notable disadvantage.

Incapability of implementing strategies

To make huge cash winnings by legal online sports betting frequently, players must have an online betting strategy and stick to it. Unfortunately, low-deposit gambling and advanced online sports betting strategies don’t go hand in hand. Nearly every lucrative sports betting strategy requires a high bankroll, so implementing them on a low budget is practically impossible.

FAQ’s

What is the DraftKings Sportsbook minimum deposit limit?

The minimum deposit limit at the DraftKings Sportsbook is $5. By depositing the minimum amount at the DraftKings sportsbook players will be eligible for online betting.

What is DraftKings Casino minimum deposit limit?

DraftKings Casino minimum deposit limit is $5. By depositing only the minimum, DraftKings casino players will still be eligible for the deposit bonus, however, they might not be able to win the maximum bonus on particular casino games.

Can I get DraftKings bonuses with the lowest minimum deposit?

Yes, every player who deposits the minimum at the DraftKings Sportsbook or online casino is eligible for bonuses. By depositing just $5 and using a casino or DraftKings Sportsbook promo code, players can get the deposit bonus, free bets, bonus bets, odds boosts, and other daily fantasy sports bonuses.

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