DraftKings brings crypto deposits to select US states, here's how
Gambling operator DraftKings is bringing new options to bettors by introducing the option to use cryptocurrency in parts of the United States, albeit with a caveat. Here’s how it will work.
Gambling using cryptocurrency has become increasingly popular in the online betting world, given its potential for play internationally and across a variety of platforms. Betting regulations in the US remain a work in progress, and that has included the currencies made available to players for deposit and play alike. DraftKings is attempting to change this by introducing a workaround through which players will be able to bet using crypto.
DraftKings rolling out crypto deposits in four US states
The decision by DraftKings to bring crypto deposits to some US states has been met with immediate approval from local bettors, with speculation already taking hold as to which states could be next after the first few that are being introduced.
There is no official date for when DraftKings will open its crypto deposits, but it’s reportedly planned for a debut in the very near future. Crypto-to-cash deposits will initially be rolled out in the states of Illinois, Kentucky, New Hampshire, and Vermont. Massachusetts, the state where DraftKings is headquartered, is notably missing from the list, but that isn’t necessarily surprising as the state has banned such deposits.
While the rollout is somewhat limited, it remains a significant milestone, as DraftKings is a major player in the US betting marketplace. This step by a key operator suggests that other betting platforms may soon follow suit as other US states open up the opportunity.
An image showing a Bitcoin and an Ethereum coin.
This move comes after DraftKings implemented a ban on credit card transactions and deposits, something many states in the US are lobbying for. Iowa, Illinois, New Hampshire, Rhode Island, Vermont, Tennessee, and Massachusetts, have all implemented bans on credit card deposits, citing player safety and responsible gambling concerns. Regulators in the United States are tightening deposit rules substantially, forcing operators to look for other options to offer players.
DraftKings’ move offers players an additional option for their exchanges, but the majority of the US states bar crypto deposits. Some states had implemented restrictions before cryptocurrency became mainstream. Massachusetts, a state with record-breaking sports betting revenue in 2025, imposed a ban on crypto-to-cash deposits in late 2025. This leaves a small number of states allowing such transactions, and betting operators may explore other options in those areas.
How to use crypto to bet on DraftKings
Using cryptocurrency to wager on DraftKings is set to be relatively straightforward, though it may not work the way most people would assume. The crypto isn’t itself added to a player’s balance, as instead it’s converted to USD before being then being reflected in the user’s account. This essentially means that players can use their crypto, but that any ensuing bets will be placed in USD, ensuring that DraftKings continues to meet US betting regulations.
The supported crypto sources haven’t yet been officially revealed, but Bitcoin and Ethereum are expected to make the cut, with others still being in play prior to a formal announcement.
Players will transfer crypto from their wallets to DraftKings’ deposit portal, and the platform will convert the amount transferred to USD automatically at the current exchange rate, deduct any necessary fees or taxes, and deposit the remaining USD amount to their balance. Deposit limits, associated fees, and processing times may vary by state, but should be officially announced for each of the four states involved in the feature debut once the rollout begins.
Winnings will also be paid out in USD, not in crypto.
Once the new rollout starts, DraftKings will join other crypto betting sites in offering players an opportunity to put their cryptocurrency towards their online betting activities. And if the move is a successful one, it seems likely that still other platforms will aim to follow in DraftKings’ wake.
Feature image credit: Canva, DraftKings
Khizar Mundia has been playing video games for as long as he can recall. Things have come a long way since the many days he spent playing the original NES, though. He now covers a variety of competitive games and esports, as well as the world of streaming, ranging from Twitch to Kick. If it’s of interest to gamers, it’s of interest to Khizar.
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