DraftKings Sportsbook increases its methods for deposit with PayPal

The New Jersey online betting app has one more payment method to offer its clients. Now every bettor can add money to his account via PayPal. This is just another step for DraftKings to catch up with the increasing number of competitors the New Jersey’s area of online betting has.

For a long time, DraftKings Sportsbook was the only online betting option in the area. New Jersey residents had no real alternative when they wanted to place some wagers on a legal betting platform. But despite the lack of competition, the paying methods that DraftKings Sportsbook was providing weren`t diverse enough. The bettor had three options to deposit money into his or her account:

  • Visa
  • Mastercard
  • Bank Transfer

There was also an option where you could transfer money from a connected daily fantasy sports account, but you had to go through the other money deposit methods first.

In the beginning, those options were more than enough, but with time competition grew. With it, the features of the online betting apps grew as well.

Currently, there are five additional New Jersey sportsbook apps and plenty of more on the way. And the new ones already have Paypal as a depositing method – something that became ‘a must’ for every reputable online betting app.

What can lacking options for online deposit lead to

Experienced bettors will tell you what’s the problem when you have only a few payment methods for a new site or mobile application – it can drive clients away. Not everyone is comfortable using Visa or Mastercard. And if you are thinking of using direct bank transfers you may be surprised in a bad way – not every bank in New Jersey accepts online gambling transactions, although it is entirely legal in the State.

Not having PayPal or other depositing methods left a lot of DraftKings users confused. They wanted to put money on some bets but were lacking the opportunity to add the money to their accounts.

How competitors handle the issue – see what FanDuel Sportsbook made for their clients

FanDuel Sportsbook, one of DraftKings Sportsbook direct competitor, presents the deposit methods to their clients quite well. They have an extensive FAQ section where they outline not only the different available payment options but also the banks that will decline a direct money transfer to online gambling accounts.

Currently, in New Jersey the following banks will reject any gambling deposits:

  • Wells Fargo
  • Huntington Bank
  • Bank of America
  • Union Bank
  • TD Bank
  • Capital One
  • Almost every prepaid card

Why DraftKings was first but were losing the competition with Caesars Online Casino and the others

Without a doubt, being first in a niche without competitors gives you a great initial advantage and DraftKings enjoyed the benefits of it fully. But being the first in NJ sports betting can benefit you only for a time.

With the ever-growing number of competitors like Caesars online casino, staying ahead in the industry became more and more difficult. It became obvious that adding extra payment options like PayPal and catching up with the newer Sports Betting houses was a must.

Now DraftKings Sportsbook are again in the lead for the best online sports bookmaker in New Jersey. Of course adding PayPal as a paying method is far from enough and they must further develop their app to best suit the online betters’ needs. Time will show if they will remain one of the preferred sportsbook in New Jersey.