How are Withdrawals Processed? (DE)

Draftkings will distribute withdrawal amounts by payment method in the following manner: Draftkings will take the SUM of all deposits a user has made in the last 6 months for each payment method, and then divide each total amount by the SUM of all deposits across all payment methods to reach a percentage. We then multiply the total withdrawal amount by each these percentages to calculate the proportion paid out to each payment instrument.

If there is no deposit in the last 6 months, we will allocate 100% of the withdrawal to the most recently used payment method.

Here is two examples of how withdrawals will work.

Example 1: A user makes 2 deposits in the past 6 months. Deposit 1 = Visa 1 $100 & Deposit 2 = Visa 2 $100

1.)  User then Requests a $300 withdrawal
2.)  Draftkings system will calculate that $200 was deposited in the last six months
3.)  Draftkings system will calculate the % owed to Visa 1 & Visa 2. (amount deposited with Visa 1 or Visa 2 divided by Total Amount Deposited)
4.) In this case: Visa 1- 100/200=50% Visa 2- 100/200=50%
5.)  Draftkings will then multiply each % by the withdrawal request amount ($300), giving us the following breakdown:
50% for Visa 1 = $150
50% for Visa 2 = $150

Was this article helpful?