Withdrawals

Last updated: Jan 13, 2024

How do I withdraw funds?

You can request a withdrawal to any bank account, PayPal account, or debit card that you have previously used to deposit funds into your PrizePicks account.

First, navigate to the menu located in the top left corner of the PrizePicks app. If you are accessing your account on a browser, the menu is in the top right corner. From here, you can select Request Withdrawal.

You'll receive a One Time Password (OTP) code by email as soon as you request your withdrawal. No further action is needed on your part; we will send you an email to confirm whether the withdrawal was successful or not.

Why did my withdrawal request fail?

PrizePicks has a 1X playthrough requirement, which means you need to play through all deposited funds once before withdrawing them. For example, if your initial deposit is $25, you must play through $25 worth of entries before withdrawing. Entries must be placed using Credit Funds, not Promo Funds, in order to count toward your playthrough requirement.

Inaccurate bank account information can also cause withdrawal requests to fail. If this happens, your funds will be returned to your credit funds balance, and you will be able to create a new withdrawal.

Most payment methods can only be used to withdraw funds if you previously used the same method to deposit funds. Apple Pay and credit cards may only be used for deposits, not withdrawals.

Only one withdrawal request is permitted during a 24-hour time frame.

Do I have to pay taxes on my withdrawals?

If your net winnings exceed $600 for the calendar year, you will need to file tax paperwork. Full details for taxes can be viewed here.

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