Hopefully you’ve been one of the players taking advantage of some of the overlays at FantasyDraft, a site that features some of the largest overlays, and been building up your balance. When you’re ready to bank some of your FantasyDraft overlays and winnings, you’ll need to initiate a FantasyDraft withdrawal.
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In this post, we’ll go over the basics of withdrawing your funds off of FantasyDraft.
What you Should Know About FantasyDraft Withdrawals
You can make a withdrawal anytime your balance is more than $20 or more. Alternatively, you can contact FantasyDraft support when your balance is less than $20.
Players can initiate a withdrawal to their Paypal account or receive a check. Players can expect to receive a Paypal request within 2 days, while checks will obviously take longer – usually within 7-10 days. You will not be assessed any fees when you make a withdrawal from FantasyDraft.
Making a withdrawal on FantasyDraft will not impact your bonus of FantasyCash balance. You also can not withdraw your FantasyCash balance, as this balance can be only be used to enter real money contests.
Taxes – Regardless of how much you withdraw at FantasyDraft, you may be subject to taxes if you showed a profit during the year. This is generally defined as winnings in contests and cash rewards minus entry fees.
FantasyDraft will issue you a 1099 if this figure is above $600. Even if you net less than $600 during the year, your income must be still be recorded. Consult your financial adviser for more information.
FantasyDraft Withdrawal Steps
Now that you know a bit about making a FantasyDraft withdrawal, let’s take a look at the simple process of removing your funds off of FantasyDraft.
Step 1 – Log in to your account.
Once you have signed in to your FantasyDraft account, click on your account name and select “Account.”
Step 2- Initiate Withdrawal
On this page, you can see your main account information which includes personal information, balance details, bonus information as well as a contest ledger that details transactions for each contest.
To start the withdrawal process, click on withdrawal:
Step 3- Submit Your Withdrawal
First enter the amount you wish to withdraw and select the method of your withdrawal – either check or Paypal.
Before you be able to withdraw, you will need to fill in all details of your account if have they previously not been completed. This includes your name, phone number, date of birthday, state and zip code. Paypal requests will also require your email address used at Paypal.
After submitting your payment, you will receive a confirmation webpage as well as a confirmation email that you have on file at FanatsyDraft.