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Underdog Banking Guide: Deposits, Withdrawals & Payment Methods in 2026

Before joining any DFS operator, it’s crucial to review the deposit and withdrawal options to ensure they align with your preferences and needs. Not all platforms feature the same banking options, and DFS operators typically offer fewer payment methods than traditional sportsbooks, which could create challenges for some users.

This comprehensive guide will walk you through all banking methods available at Underdog, explain how to make deposits and withdrawals, discuss processing times, and provide expert advice on managing your bankroll effectively. Whether you’re new to Underdog or looking to optimize your banking experience, this resource covers everything you need to know about moving money in and out of your account safely and efficiently.

Underdog Banking Quick Reference

Here’s what you need to know at a glance about Underdog’s banking options:

• Minimum Deposit: $10
• Minimum Withdrawal: $10 (except when account balance is under $10)
• Withdrawal Fees: None
• Deposit Methods: PayPal, Debit Cards, Trustly, Apple Pay
• Withdrawal Methods: PayPal, Electronic Check (ACH), Trustly
• Fastest Withdrawal: PayPal and Trustly (24-48 hours)
• Slowest Withdrawal: Electronic Check (3-5 business days)

How To Make An Online Deposit At Underdog

Underdog makes banking easy and straightforward for its customers. The deposit process is designed to be quick and secure, allowing you to fund your account and start participating in contests within minutes. After you’ve created an account with Underdog, complete the following steps to load your account with funds:

Step-by-Step Deposit Instructions:

1. Sign up and log into your Underdog account via the mobile app or website
2. Locate your account wallet on the top right-hand side of the screen. This displays your current account balance (will show $0 for new users)
3. Click on your wallet or the account button to access your account settings
4. Select “Banking” from the menu, then click the “Deposit” button
5. Choose your preferred deposit method from the available options
6. Enter the amount you want to deposit (minimum $10)
7. Click “Submit” and your account will be loaded within seconds, barring any technical issues

After funding your account, you’re ready to compete. Start with Underdog NFL contests during football season, dive into player props offered by Underdog to predict stat lines, create parlays via Underdog for enhanced payouts, or try the innovative prediction markets feature that lets you trade on sports outcomes in real-time.

Available Payment Methods At Underdog

Underdog Fantasy is a fully legal, licensed, and regulated daily fantasy sports platform, which means you can safely and comfortably complete transactions without worrying about your privacy or security. All personal and banking information is protected using industry-standard encryption technology and modern security protocols.

As mentioned earlier, DFS platforms typically offer fewer banking options than traditional sportsbooks. This is standard across the daily fantasy sports industry, not a unique limitation of Underdog. While the selection may be smaller than what you’d find at major sportsbooks, the available methods are widely used, convenient, and sufficient for most players.

Underdog currently supports several deposit and withdrawal methods, with PayPal being the most versatile option accepted for both funding your account and cashing out winnings. If you have a PayPal account (and most people do), you’ll find the banking process exceptionally smooth.

PayPal

Available for: Deposits and Withdrawals

PayPal is the most popular e-wallet worldwide and is accepted at Underdog for both deposits and withdrawals. This makes it the most versatile banking option on the platform. Outside of debit cards, PayPal is the primary method most users rely on for moving money in and out of their Underdog accounts.

One of PayPal’s biggest advantages is that you can link your bank account, credit card, or debit card to your PayPal account, making it easy to fund your Underdog balance indirectly. Even if you have a payment method not directly accepted by Underdog (like American Express), you can add it to PayPal and use it that way.

PayPal withdrawals typically process within 24-48 hours, making it one of the fastest payout options available. There are no fees charged by Underdog for PayPal transactions, though PayPal itself may apply nominal fees depending on your account type and transaction details.

Debit Cards (Visa, Mastercard, Discover)

Available for: Deposits Only

If you have a Visa, Mastercard, or Discover debit card, you can use it to make deposits at Underdog. Both standard debit cards and prepaid debit cards are accepted. Credit cards are generally not accepted for direct deposits due to gambling-related restrictions imposed by card issuers and financial institutions.

Please note that some banks may charge additional fees for transactions categorized as gaming or fantasy sports deposits, but these fees are imposed by your bank, not by Underdog. If you’re concerned about potential fees, check with your bank or consider using PayPal as an alternative.

For certain contest types, only debit cards (including Apple Pay) and Trustly are accepted due to CFTC regulations governing event contract trading. This applies specifically when you’re trading on sports outcomes rather than participating in traditional fantasy contests.

Apple Pay

Available for: Deposits Only (Debit Cards)

Underdog accepts Apple Pay for deposits, but only when Apple Pay is linked to a debit card (not credit cards). This provides a convenient, secure payment option for iOS users who prefer to use biometric authentication (Face ID or Touch ID) rather than manually entering card details.

Apple Pay deposits process instantly and are particularly useful for mobile users on the Underdog app. This method is also accepted for trading event contracts, making it a versatile option for all contest types.

Trustly (Online Banking)

Available for: Deposits and Withdrawals

Trustly is an online banking solution that allows you to link your bank account directly to Underdog for fast, secure transactions. This method bypasses the need for debit cards or e-wallets, transferring funds directly between your bank and Underdog account.

Trustly is accepted for both deposits and withdrawals, and withdrawal processing times are comparable to PayPal at 24-48 hours. This makes Trustly one of the fastest payout options available. There are no fees charged by Underdog for Trustly transactions.

Trustly is particularly useful for users who don’t have PayPal or prefer to keep their banking separate from third-party payment processors. It’s also one of the accepted methods for sports event contract trading on Underdog.

Electronic Check (ACH Transfer / e-Check)

Available for: Withdrawals Only

Electronic checks (also called ACH transfers or e-checks) are available for withdrawals but not deposits at Underdog. This method transfers funds directly from your Underdog account to your bank account using the Automated Clearing House network.

While electronic checks are reliable and free of charge, they’re the slowest withdrawal option, typically taking 3-5 business days to process. If you need faster access to your winnings, PayPal or Trustly are better choices. However, if timing isn’t critical and you prefer direct bank transfers, e-checks work perfectly well.

Payment Methods NOT Accepted At Underdog

Understanding which payment methods Underdog doesn’t accept is just as important as knowing which ones it does. If you rely on any of the following methods, you’ll need to use an alternative or find a workaround:

American Express (AMEX)

Despite American Express being a notable and popular credit card network, Underdog does not accept AMEX cards for direct deposits. This is common across most gaming and DFS platforms due to American Express’s strict policies regarding gambling-related transactions.

Workaround: You can link your AMEX card to your PayPal account and then use PayPal to fund your Underdog account. This indirect method allows AMEX cardholders to still use their preferred card.

Venmo

With over 70 million users worldwide, Venmo is one of the most popular peer-to-peer payment services. The service is owned by PayPal and is mainly used for sending and requesting money from friends and family.

Underdog Fantasy doesn’t accept Venmo as a direct payment method. However, if you have a Venmo Mastercard debit card, you can use it for deposits since Underdog accepts Mastercard debit cards.

Cash App

Cash App is an increasingly popular financial platform that lets users send and receive money via mobile app, similar to Venmo or PayPal. Despite its growing user base, Underdog only accepts a handful of payment methods, and Cash App isn’t one of them.

If Cash App is your preferred payment method, you’ll need to transfer funds to a PayPal account or use one of the other accepted deposit methods.

Skrill

Similar to PayPal, Skrill is another popular and trusted e-wallet that serves over 40 million users worldwide, particularly in Europe and international markets. However, Skrill is not accepted at Underdog for either deposits or withdrawals.

If you primarily use Skrill, you’ll need to use PayPal, a debit card, or Trustly instead.

PayNearMe

PayNearMe is a cash-based deposit method where you bring physical cash to supported retail locations (like 7-Eleven or Dollar General), scan a barcode linked to your account, and have funds loaded within minutes. While some sportsbooks offer this option, it’s rarely available on DFS platforms.

Underdog does not offer PayNearMe as a banking option. This method is primarily designed for traditional sportsbooks rather than daily fantasy sports operators.

Cryptocurrency (Bitcoin, Ethereum, etc.)

Cryptocurrency payments have become increasingly popular at online sportsbooks and gaming platforms. However, Underdog does not currently accept Bitcoin, Ethereum, or any other cryptocurrencies for deposits or withdrawals.

While Underdog partners with Crypto.com for certain infrastructure elements, actual deposits and withdrawals must still be made using traditional fiat payment methods like PayPal or debit cards.

Physical Cash Cage / Retail Locations

Some sportsbooks allow users to deposit and withdraw cash at physical casino locations or retail sportsbook counters (cash cages). This method is exclusively available for traditional sportsbooks partnered with land-based casinos.

As a purely online daily fantasy sports platform, Underdog does not have retail locations or cash cage services. All transactions must be completed digitally through the mobile app or website.

Underdog Deposit Bonus Offers

New players at Underdog can claim a generous welcome offer when making their first deposit. The current promotion rewards users who make their first play of $5 or more with $75 in bonus entries, providing substantial value to explore the platform’s various contest formats.

Important Eligibility Requirements:

• Users in New Jersey, Maryland, New York, Ohio, Pennsylvania, and Michigan are NOT eligible for the welcome bonus
• Must meet age requirements: 18+ in most states, 19+ in AL/NE, 21+ in AZ/MA/VA
• Must be physically located in an eligible state where Underdog operates
• Restrictions and legality apply – check local rules before playing

Beyond the welcome offer, Underdog runs various promotions throughout the year. You can also earn additional bonuses through the referral program by inviting friends to join the platform. Both you and your referred friend receive rewards when they sign up and meet the qualifying requirements.

How To Make An Online Withdrawal At Underdog

Making a withdrawal at Underdog is just as easy and straightforward as making a deposit. The platform prioritizes fast payouts, with most withdrawals processing within 24-48 hours when using PayPal or Trustly. Best of all, Underdog charges no withdrawal fees, meaning you receive 100% of your winnings.

Step-by-Step Withdrawal Instructions:

8. Sign in to your Underdog account on the mobile app or website
9. Click on your account button or account wallet icon
10. Select “Withdraw” from the banking menu
11. Check your withdrawable balance (bonus funds may not be available until wagering requirements are met)
12. Enter the amount you want to withdraw (minimum $10, except when account balance is under $10)
13. Choose your preferred withdrawal method (PayPal, Trustly, or Electronic Check)
14. Click “Submit” to begin the withdrawal process

Withdrawal Minimum: The standard minimum withdrawal is $10. However, if your account balance is under $10, you can still withdraw the full amount.

Withdrawal Fees: There are absolutely no fees for withdrawals at Underdog, regardless of which method you choose. This is a significant advantage over some competitors that charge $1-3 per withdrawal.

Underdog Payout Times and Processing Speeds

One of the most common questions new users have is: “How long does Underdog Fantasy take to pay out winnings?” The answer depends on which withdrawal method you choose. Here’s a complete breakdown of estimated processing times:

Withdrawal Method	Processing Time	Minimum Amount
PayPal	24-48 hours	$10
Trustly (Online Banking)	24-48 hours	$10
Electronic Check (ACH)	3-5 business days	$10

Fastest Options: If you need quick access to your winnings, PayPal and Trustly are your best choices. Both typically process within 24-48 hours, and many users report receiving funds even faster during business hours.

Standard Option: Electronic checks take longer at 3-5 business days but are still reliable and free of charge. If timing isn’t urgent, this method works perfectly well for direct bank transfers.

Important Note: Processing times can occasionally be delayed due to bank holidays, weekends, verification requirements, or technical issues. If your withdrawal takes longer than expected, contact Underdog customer support for assistance.

Expert Advice On Managing Your DFS Bankroll

Whether you’re participating in daily fantasy contests or trading sports event contracts, managing your bankroll wisely is essential to long-term success and enjoyment. Proper bankroll management prevents you from overspending, helps you weather losing streaks, and maximizes your chances of profitability over time.

Keep DFS Funds Separate

One of the most important principles of bankroll management is to keep your DFS funds completely separate from your everyday living expenses. Your Underdog balance should consist of discretionary entertainment money that you can afford to lose without impacting your bills, savings, or essential expenses.

Consider opening a dedicated checking account or PayPal account specifically for DFS activities. This separation makes it much easier to track your DFS performance and prevents you from accidentally dipping into money needed for rent, groceries, or other necessities.

Never Chase Your Losses

One of the biggest mistakes DFS players make is chasing losses. When you lose a contest, the natural temptation is to immediately enter another contest with a larger entry fee to try to recoup your losses quickly. This emotional decision-making almost always leads to larger losses and can dig you into a deep financial hole.

Instead, stick to your predetermined strategy and entry sizes regardless of recent results. Accept that losing is part of the game, and focus on making smart, data-driven decisions rather than emotional reactions to short-term variance.

Use the 5% Rule

A common bankroll management strategy among successful DFS players is the “5% rule.” This guideline suggests never risking more than 5% of your total bankroll on any single contest or slate of contests.

For example, if you have a $200 bankroll, you shouldn’t enter more than $10 in contests on any given day. This conservative approach protects you from catastrophic losses and ensures you have enough capital to continue playing even during extended losing streaks.

Track Every Entry and Result

The only way to truly know if you’re profitable is to meticulously track every contest you enter. Keep detailed records of:

• Contest type (Pick’em, Best Ball, etc.)
• Entry fee
• Winnings or losses
• Sport and slate
• Date and time

Use a spreadsheet, notes app, or dedicated DFS tracking software to maintain these records. This data reveals which contest types and sports you’re most successful with, allowing you to optimize your strategy over time.

Treat DFS Like a Business

If you’re serious about DFS, approach it with the same discipline and professionalism you would apply to a small business. This means:

• Setting and adhering to a budget
• Tracking all financial transactions
• Analyzing performance metrics
• Continuously learning and improving
• Making objective, data-driven decisions

By treating DFS professionally rather than as pure entertainment, you significantly improve your chances of long-term profitability.

Use Underdog’s Responsible Gaming Tools

Underdog provides several responsible gaming features to help you maintain healthy bankroll habits:

• Deposit limits (daily, weekly, monthly)
• Entry limits per contest
• Session time limits
• Self-exclusion options

Take advantage of these tools to set guardrails around your play. If you ever feel your DFS participation is becoming problematic, don’t hesitate to use self-exclusion or seek help from resources like the National Council on Problem Gambling at 1-800-GAMBLER.

Underdog Customer Service For Banking Questions

Underdog Fantasy offers excellent customer support despite providing only a few communication channels. Under normal circumstances, when you reach out during business hours, Underdog responds promptly and helpfully to resolve banking issues, answer questions, or address concerns.

How to Contact Underdog Support:

• Email: [email protected]
• Live Chat: Available in the app and on the website
• Twitter: DM @UnderdogFantasy
• Facebook: DM @UnderdogFantasy
• Discord: Join the Underdog community server

For quicker responses to simple questions, Underdog also maintains comprehensive Help and FAQ sections on their website and app. These self-service resources cover common banking questions like deposit minimums, processing times, and withdrawal procedures.

Response times for email inquiries typically range from a few hours to one business day. Live chat provides the fastest assistance for urgent banking issues.

Maximizing Your Underdog Experience

Once you’ve mastered the banking fundamentals, you’ll want to explore different ways to compete on Underdog. The platform shines during football season when you can build lineups and make picks across thousands of games. Understanding the nuances of different contest formats will help you identify where your skills translate best.

Before depositing, it’s worth understanding where Underdog operates and confirming the platform is available in your jurisdiction. State regulations vary significantly, and some contest types have restrictions in certain areas. Knowing these limitations upfront prevents frustration later.

New users should take full advantage of promotional opportunities when funding their accounts. The current offers provide substantial bonus value that effectively increases your starting bankroll, giving you more flexibility to experiment with different contest formats and find your preferred playing style.

Many successful DFS players focus on specific sports or contest types where they have the deepest knowledge. Football enthusiasts often gravitate toward NFL-focused contests where their understanding of team dynamics, player matchups, and weekly narratives provides an edge. Similarly, building combinations of player predictions allows you to create differentiated lineups that separate you from the crowd.

The referral system offers another avenue to boost your bankroll without additional deposits. Sharing your experience with friends who enjoy fantasy sports creates a win-win situation where both parties benefit from bonus rewards. This organic growth strategy works particularly well within existing fantasy football leagues or sports-watching groups.

Frequently Asked Questions About Underdog Banking

What is the minimum deposit at Underdog?

The minimum deposit at Underdog is $10. This applies to all accepted payment methods including PayPal, debit cards, Trustly, and Apple Pay.

Does Underdog charge withdrawal fees?

No, Underdog does not charge any fees for withdrawals. All withdrawal methods (PayPal, Trustly, and Electronic Check) are completely free of charge, meaning you receive 100% of your winnings.

How long do Underdog withdrawals take?

Withdrawal times vary by method: PayPal and Trustly typically process within 24-48 hours, while Electronic Check (ACH) takes 3-5 business days. PayPal and Trustly are the fastest options for accessing your winnings.

Can I use a credit card to deposit at Underdog?

No, Underdog does not accept credit cards for direct deposits. Only debit cards (Visa, Mastercard, Discover) are accepted. However, you can link a credit card to your PayPal account and use PayPal to fund your Underdog account indirectly.

Does Underdog accept American Express?

Underdog does not accept American Express cards for direct deposits. However, you can link your AMEX card to PayPal and then use PayPal to fund your Underdog account.

What is the minimum withdrawal amount?

The minimum withdrawal is $10. However, if your account balance is less than $10, you can still withdraw the full amount.

Can I deposit using Venmo or Cash App?

No, Underdog does not accept Venmo or Cash App as direct payment methods. If you have a Venmo Mastercard debit card, you may be able to use it since Mastercard debit cards are accepted.

Important Terms and Disclaimers

Must be 18+ (19+ in AL, NE; 19+ in CO for certain games; 21+ in AZ, MA, VA) and physically present in a state where Underdog operates. Terms apply.

Bonus offer not valid in MD, MI, NJ, NY, OH, and PA. Check local state regulations to ensure full eligibility. See assets.underdogfantasy.com/web/PlayandGetTerms_DFS_.html for complete terms.

Gambling Problem? Get Help:

• Call 1-800-GAMBLER or visit www.ncpgambling.org
• New York: Call 1-877-8-HOPENY or text HOPENY (467369)

Payment methods, processing times, and bonus offers are subject to change. Always verify current information on the official Underdog website.