Indiana Sportbook Payouts – How to Cash Out
The most important part of gambling on sports is how to get your money. We will cover the online sportsbooks in Indiana and how to withdraw your money.
Hopefully, with some of our other tips, you have been winning, and it is time to take a little money out to go on a getaway or buy something for the house you’ve been wanting.
The state of Indiana did pretty well in September through November, winning just over $243 million in the first three months of legal sports wagering. Currently, there are only three mobile apps running in the state of Indiana.
FanDuel, DraftKings and BetRivers will be the ones we cover on how to withdraw your money. Eventually, we will cover Fox Bet, BetMGM, PointsBet, William Hill and Caesars Sportsbook once they are online.
A big advantage of legalized sports betting is the ease of depositing and withdrawing money. If you ever played at one of the overseas websites, you know how hard it was to get money.
The deposit options are now also a lot easier as well. Paypal, ACH or even depositing cash right at the casino is allowed.
The payout process at DraftKings is usually fairly simple. You go to the withdrawal section and submit a request. Withdrawals happen Monday through Friday from 9 am to 5 pm.
It usually takes two to eight business days for the amount to show up. You can receive your money in one of two ways: ACH, a direct payment to your bank account, or Paypal.
ACH tends to be slightly quicker, and you don’t have to move the money from your Paypal, but both methods work well. Due to its partnership with AmeriStar Casino Resort, you can also take money out at the casino.
Once you have submitted the request, you will get an email from DraftKings saying ‘Withdrawal Request Completed’. You can get the original amount of your deposit back on a credit or debit card if that is how you deposited your money.
Any amount of money you have won above that will have to be done via ACH or Paypal. You will have to fill out a W-9 when withdrawing your money as well. Any win over $600 will automatically be accompanied with a 1099.
The process to start the withdrawal is simple. Once you are logged into your FanDuel account, click on your account in the top right-hand corner. It will show the amount of money in your account.
Click the down arrow and select withdrawal. Select which method you would like to use to receive your money, and you are good to go.
Just like DraftKings, you can get your money through Paypal or ACH. Paypal is a little harder to use if you have not made your deposit via that method. You can still do it, but it will just take longer for them to verify that it is, in fact, your account.
Due to the partnership with Belterra Casino and Blue Chip Casino, you can also collect your winnings in cash at the casino.
Paypal is the quickest method of withdrawal on FanDuel. You will have your money within 48 hours of the withdrawal request.
If you ask for a check, it will take seven to 10 business days. They will have to process the request, cut the check, and then send a check through the mail.
If you are still playing on a bonus or deposit match, you will not be allowed to withdraw your money.
Like DraftKings, an automatic 1099 will be issued for winning of $600 or more. This amount is net winnings, so if you have won $1,000 but lost money throughout the year, no need to worry.
BetRivers has one more option than either FanDuel or DraftKings. You can get cash at French Lick, check, ACH or a BetRivers prepaid card. The BetRivers prepaid card is an option that you don’t have with the other two apps.
The method for withdrawal is almost exactly like the other two companies. Click on the withdrawal tab, select withdraw, then select your method. It is that easy.
BetRivers usually takes between 24 and 72 hours to process the request. The BetRivers card or cash at French Lick Resort Casino are available immediately.
The ACH takes between two to five days, while the check is by far the longest wait of either at 10 to 14 days.