DraftKings Promo Code: Bet $5, Get $200 In Bonus Bets Instantly

If you are looking for value when starting your sports betting journey, DraftKings Sportsbook is the place to go. Right now, they are offering new DraftKings Sportsbook users the chance to bet $5 and get $200 in bonus bets instantly. Here, I break down the specifics of this DraftKings promo code and give you my thoughts on how this bonus compares to what you will find at other online sportsbooks.

Bet $5, Get $200 in Bonus Bets Instantly

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Bet $5, Get $200 in Bonus Bets Instantly

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Bet $5, Get $200 in Bonus Bets Instantly

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New User Bonus

Bet $5, Get $200 in Bonus Bets Instantly

DraftKings Promo Code

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US States Applicable T&C

AZ, CO, CT, DC, IN, IA, IL, KS, KY, LA (select parishes), MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV or WY

Min Deposit

$5

Overall rating 5 /5

Current DraftKings Sportsbook New User Promo

At DraftKings Sportsbook, new users can place an initial wager of $5 and receive $200 in bonus bets instantly. That first bet can win or lose, it doesn’t matter. The bonus bets will be credited to your account instantly and you can use those bonus bets on one of the largest menus of sports betting options on the market today.

I have taken advantage of sportsbook bonuses all over the country and can say with confidence that the current DraftKings Sportsbook promo code is one of the best I’ve seen. That is a big reason why our DraftKings Sportsbook review speaks so highly of the site. The ability to place a small initial wager and get a nice haul of bonus bets in return is excellent and you can click on the Claim Offer button on this page to get this bonus for yourself.

DraftKings Promo Code Quick Details

How to Claim $200 in Bonus Bets at DraftKings

Claiming your DraftKings bonus bets is a straightforward process. I’ve done it myself and it only took me a few minutes to register, make a deposit, place a bet, and get my bonus bets. Just follow the steps below to get started with DraftKings and take advantage of our exclusive DraftKings bonus.

Key Benefits of the DraftKings Sportsbook Promo Code

I think that the DraftKings promo code listed above is easily one of the best in the sports betting industry today. But why do I think that? The reason for that is all of the benefits that DraftKings Sportsbook users can enjoy by taking advantage of this offer. Below are the major benefits of taking advantage of this offer.

Instant Bonus Bets

Our favorite part of this DraftKings promo is that your bonus bets are awarded instantly. Many sportsbooks only credit you with bonus bets if your first bet wins, or they only award bonus bets if your first bet loses. With this offer, your bonus bets are in your DraftKings Sportsbook account regardless of the outcome of the first bet that you place. Not only will this provide sports bettors peace of mind, it also gives them the opportunity to start using their bonus bets right away.

Flexible Bonus Usage

Another thing that helps make this DraftKings Sportsbook bonus one of the best in the world of legal online sports betting is that it is paid out in increments of $25 bonus bets. Those $25 bonus bets can be used repeatedly on the same bet, or they can be used across a number of different bets. Whether you want to place one Same Game Parlay over and over again, or you want to spread your bonus bets around a number of different bets, you can do that.

No Promo Code Required

This is a small perk, but the DraftKings welcome bonus does not require you to enter a promo code. That makes it just a little bit easier to take advantage of this offer, as you don’t have to go through the extra step of remembering what code you need to use or come back to refresh your memory. That means more time to dive into the DraftKings sports betting app to figure out which bets you want to place with your bonus bets.

DraftKings Promo Code Terms and Conditions

Whenever you take advantage of a bonus offer in the legal sports betting industry, you should be sure to read the terms and conditions carefully. This helps to ensure that you remain eligible to reap the benefits of that bonus offer. Fortunately, I have taken a close look at the terms and conditions for the DraftKings promo code discussed here. Here are the key components of those terms and conditions that you should be aware of before you register at DraftKings Sportsbook.

Minimum Deposit Amount

The minimum deposit amount for this DraftKings Sportsbook promo is just $5. That is the lowest minimum deposit amount you will see at any sportsbook, which means that no sportsbook bonus will have a lower minimum deposit than that. To fund your DraftKings Sportsbook account, you can tap the Deposit button in the top-right corner of the screen on the DraftKings app. From there, you can choose a deposit method and make your deposit of $5 or more.

Later in this guide to our exclusive DraftKings promo code, you can get some more info on what deposit methods are available at DraftKings. This will help you make sure that there is a deposit method that meets your needs before you attempt to claim this bonus.

Odds Requirements

My favorite thing about this DraftKings promo, besides the fact that it pays out $200 in bonus bets instantly, is the fact that there are no odds requirements for your qualifying bet. The terms and conditions of this offer do not specify any minimum odds. This means you can bet on anything you want and still receive your bonus bets without having to worry about reaching any specific odds.

First Qualifying Wager

In order to be eligible to receive your bonus bets, you must place a qualifying wager of $5 or more. As we just mentioned, there is no odds requirement for that original $5 bet. That means you can bet on a heavy favorite if you choose to do so, or you can get adventurous and put together a longshot Same Game Parlay in hopes that you will hit a big win. Either way, you will receive your bonus bets in your DraftKings account right away without having to sweat the outcome of your first bet.

Bonus Bet Payout

With this DraftKings promo code, you will receive your $200 in bonus bets as eight (8) bonus bets worth $25 each. I happen to like this setup compared to what some sites do, which is give you your bonus bets in one lump sum. The reason I like getting eight $25 bonus bets better is the fact that I am able to use those bonus bets more judiciously. With eight different bonus tokens, I prefer to spread the bets around rather than using them all in one go. This payout system makes it easier to do that.

Of course, if you prefer to use your bonus bets in one fell swoop, you can do that. Just fire up the DraftKings Sportsbook app after you have received your bonus bets and you can choose one bet and fire all of your bonus bets at the same time. The choice if yours and that flexibility is one of the best things about this DraftKings promo.

Bonus Bet Expiration

It is worth noting that the bonus bets from this DraftKings promo code expire seven days from when you receive them. As a result, you are going to want to make sure that you take advantage of this offer during a time when you will be free during the next week in order to use the DraftKings app and place your bonus bets. But as long as you have some time coming up to use those bets, you shouldn’t hesitate to take advantage of this bonus.

Bonus Bet Usage

We would also like to take this time to go over how the bonus bets from your DraftKings welcome bonus work. These are paid out as non-withdrawable bonus bets, meaning that you can’t just withdraw the bonus bet amount that you receive. Instead, you have to wager those funds at least one time to be able to withdraw your winnings from those bets.

Sports bettors should also be aware that the bonus bet amount is not included in the payout amount from those bonus bets. For example, let’s say you use a $25 bonus bet on one of the sports betting markets at DraftKings at +100 odds. You would receive $25 if that bet were to win, instead of the $50 payout that you would normally receive if you won a $25 bet at even money.

Because of that, some bettors may feel compelled to place bets at even money or plus money when taking advantage of this offer. But how you use your bonus funds at DraftKings online sportsbook is entirely up to you.

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For those looking to change things up from online sports betting, DraftKings Casino also has a promotion available to new customers in states where their online casino is operational. New customers at DraftKings Casino can take advantage of the above offer to get some extra value when getting started with their online casino product, which is one of the best online casino products on the market right now.

DraftKings Casino offers a number of exclusive games, including slots and table games that you won’t find anywhere else. They also have some sports-themed games, for those who want to merge their passion for sports with the excitement of casino gaming. You can find a full breakdown of everything DraftKings Casino has to offer in our DraftKings Casino review.

How to Use Your Bonus Bets at DraftKings Sportsbook

Using the bonus bets from this DraftKings Sportsbook promo code is incredibly easy to do. Once you see your bonus bets available in the DraftKings Sportsbook app, simply go to the sport and game that you wish to use your first bonus bet on. From there, you can add the bet you wish to place to your bet slip. Within the bet slip, you will see the option to use your bonus bets to place that wager. Just tap that button and your bonus bet will be applied to that wager so that you do not need to use your cash balance.

The strategy of using your DraftKings Sportsbook bonus is just as important as knowing how to apply the bonus bets themselves. Personally, I like to place bets that are around even money with these bets to try and get as close to $200 in winnings as possible off of just a $5 initial wager. But some sports bettors may prefer to place eight Same Game Parlay wagers that have less of a chance of winning and a higher potential payout. Either way, the value of this promotion at DraftKings Sportsbook is undeniable.

Comparing the DraftKings Bonus Code to Other Sportsbooks

Now that you know everything there is to know about the current promotion at DraftKings Sportsbook, you may be wondering how that bonus compares to the bonuses at other online sportsbooks. Below is a look at the current promotions at DraftKings and the online sportsbooks they consider to be their competition.

We think that the $200 in bonus bets from DraftKings Sportsbook compares favorably to most bonus offers in the industry. But different bonuses may appeal to different bettors for different reasons. It is important for you to decide what the most important factor is for you when choosing a sports betting bonus before you claim them for yourself.

DraftKings vs FanDuel

When you think about the great rivalries in the history of sports, a few come to mind. There is Yankees vs Red Sox, Celtics vs Lakers, and DraftKings vs FanDuel belongs on that list as well. These two sportsbooks dominate the United States sports betting landscape in terms of market share. But which of these two sports betting giants has the better sportsbook bonus?

In my opinion, the DraftKings Sportsbook bonus is the more consistent of the two bonus offers. My main reason for this is that FanDuel often requires bettors to win their first wager to receive their bonus bets. DraftKings more often gives out their bonus bets instantly, whether that first bet wins or loses. That is a huge difference maker and one that works in the favor of those using the DraftKings app over the FanDuel app.

DraftKings vs Caesars Sportsbook

Another sportsbook comparison that is made often is DraftKings vs Caesars. Both of these sportsbooks are available in a ton of states and both have strong rewards programs that make them worth using for avid bettors. In terms of which site offers the best new player promo, that depends on the preferences of each individual bettor.

With the Caesars Sportsbook app, there is a low minimum bet amount to get involved with their current bonus. Their bonus is also one of the more creative in the industry right now. But the DraftKings Sportsbook app has a welcome bonus that brings more in the way of sheer value in the form of $200 in non-withdrawable bonus bets.

DraftKings vs BetMGM

No breakdown of legal sports betting bonuses is complete without a comparison of DraftKings Sportsbook and BetMGM. BetMGM routinely switches its welcome bonus between its first bet safety net offer and a bet and get offer similar to what is available at DraftKings. Both of those bonuses are solid, though BetMGM typically has a $10 minimum first bet. That is double the amount of the DraftKings promo code offer, which has a $5 minimum bet.

Both of these sites have a ton of sports and betting markets that sports bettors can use their bonus funds on. Which of their offers you prefer depends on whether you like the high ROI of a bet and get offer or if you prefer the safety net of the BetMGM first bet offer promo.

DraftKings vs bet365

Around the world, bet365 is a bigger name in the sportsbook world than DraftKings Sportsbook. That is not the case in the United States, where DraftKings carries the clout that bet365 does elsewhere. When it comes to their bonuses, is DraftKings better than bet365? Both of these sites tend to offer high value with their welcome bonus, with bet and get offers on both the bet365 and DraftKings website and mobile app.

Both of these sites also have two of the best live betting platforms in the marketplace today. DraftKings has live props and live parlays that can make any game more exciting to bet on. Meanwhile, bet365 has live betting for more betting markets than most of the other online sportsbooks out there. Both of these sites are terrific for their new player promos and their sportsbook products are also worth checking out for anyone who is serious about sports betting.

Where Can I Use the DraftKings Promo Code Offer? DraftKings Sportsbook Legal States

DraftKings Sportsbook is legal and available in most of the states where sports betting is legal. Around half of the states in the country have legal access to DraftKings Sportsbook, with the potential for more states to be added to the list in the future. Below is a full list of the current DraftKings Sportsbook legal states. If additional states become a part of this group, we will update this list accordingly.

• Arizona
• Colorado
• Connecticut
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• New Hampshire
• New Jersey
• New York
• North Carolina
• Ohio
• Oregon
• Pennsylvania
• Tennessee
• Vermont
• Virginia
• West Virginia

For those who do not reside in the list of states above, you are still able to create a DraftKings Sportsbook account and make a deposit. You are just not able to place a bet from outside of those legal states. As a result, you are not able to take advantage of the welcome bonus at DraftKings Sportsbook from other states.

Instead, sports bettors can visit one of the above legal states, where they can take advantage of the DraftKings Sportsbook offer legally. With competitive odds and a large selection of sports betting markets, bettors will be glad they did.

Other DraftKings Sportsbook Promotions

Along with the welcome bonus at DraftKings Sportsbook, there are a ton of other sportsbook promos available on the site. These recurring promotions are available for new and existing customers. They include additional bonus offers, their loyalty program, and other ways to find some extra value. Here, I will go through some of the other promotions you will regularly find as a customer at DraftKings Sportsbook.

Refer-a-Friend Program

If you love sports betting and you have friends, the DraftKings Sportsbook refer-a-friend program is for you. With this program, bettors can get their friends to sign up at DraftKings. When those friends register for an account and make their first deposit, DraftKings Sportsbook will award profit boosts to you for referring your friend. It’s a win-win situation for you and your friend as you help them get started with one of the best US sportsbooks.

Of course, your friend could take advantage of the above DraftKings promo code as well if they so choose. With the opportunity to turn just $5 into $200 in bonus bets, there is no reason to start out any other way at this site.

With this program, bettors receive more profit boosts with the more their friend deposits. The maximum amount of profit boosts to be awarded is 10 profit boosts when your friend deposits $100 or more. That is a nice extra value just for getting your friend involved at DraftKings. And with the social aspect of DraftKings, like betting groups, you can track the progress of your friends and share your bets with them.

Dynasty Rewards

Along with its refer-a-friend program, DraftKings Sportsbook has the Dynasty Rewards program. This is a tiered system that rewards you for your loyalty. It’s simple – the more ‘crowns’ you gather (DraftKings’ version of points), the more rewards you unlock. Every dollar you wager contributes to your crowns total. As you accumulate more crowns, the rewards increase in value. It’s a testament to DraftKings’ commitment to recognizing and rewarding its dedicated bettors.

To take part in the Dynasty Rewards program, no additional action is required on your part. You will begin accumulating crowns as soon as your account is up and running and you place wagers. Bonus bets are not eligible to accumulate crowns, but any wagers placed with your cash balance will contribute to your crowns total.

Profit Boosts

DraftKings also rewards its loyal customers with the availability of frequent profit boosts. The site routinely offers enhanced payouts on bets in specific sports, depending on what is going on during that time of year in sports. One prominent form of profit boost that DraftKings issues regularly is the parlay profit boost, where bettors receive an extra percentage on top of their payout for both traditional and Same Game Parlay wagers.

DraftKings issues profit boosts for many special bet types as well during the course of the year in sports. During baseball season, for example, they may offer occasional profit boosts on No Run First Inning (NRFI) bets. During the hockey season, they may offer boosted payouts on whether or not there will be a goal in the first 10 minutes of a game. The creativity of DraftKings knows no bounds when it comes to these profit boosts, which make the site worth coming back to daily.

No Sweat Bets

In a similar vein, DraftKings Sportsbook regularly offers no-sweat bets to customers throughout the year. During the seasons in major sports like the NFL and NBA, DraftKings will offer no-sweat bets. That means bettors can rest assured that if their bet doesn’t win, they will receive their stake back in the form of non-withdrawable bonus bets. Those bonus bets can then be used to try again to place a winning wager and to keep the fun going at DraftKings.

Using these no-sweat offers is a straightforward process. Bettors can opt into the no-sweat bet promotion when available. They can select a qualifying wager and add it to their bet slip. If their bet wins, bettors will receive their payout. If it doesn’t win, bettors will receive their bonus funds and can select their bonus bet after adding their next wager to their bet slip.

These no-sweat bet offers are typically only good for a small bet amount. And if your initial bet wins, you are not entitled to any bonus funds. But this type of promotion is still great for those who want to place a wager without having to worry about whether or not the bet wins or loses.

Free to Play Pools

One way that DraftKings has differentiated itself from other online sportsbooks is its free-to-play pools. Pools are essentially prediction contests where players can predict the outcome of a series of specific questions about events in sports or entertainment. If you get enough of those questions right and win the pool, you can earn cash, bonuses, or prizes. These pools make playing at DraftKings more fun without having to add any additional monetary risk into the equation.

I enjoy the fact that these free-to-play pools cover a number of different sports on a regular basis. For example, players can test their prediction skills on everything from NBA game nights to UFC pay-per-views, and even Formula 1 races. These are great for sports fans who love a number of different sports as they can put their knowledge to the test with huge upside potential.

To find out what pools are available right now at DraftKings, you can tap the Pools button at the top of the homescreen on the mobile app. From there, you can sort the list of available pools in order of entry fee. This will allow you to navigate to the free-to-play options and enter them while filtering out the pools that do come with an entry fee.

Sport-Specific Promos

I very much appreciate how creative DraftKings gets with its sport-specific promotions. They frequently come up with fun promotions around the biggest events in sports that can make betting on those events more rewarding. This incentivizes bettors to come back to DraftKings on a regular basis, as the next big promo could be on the way at any time.

For example, during football season, DraftKings’ King of the Endzone promotion has been incredibly popular. With that promotion, bettors were able to wager on a player to score a touchdown in their game. If that player scored the longest touchdown of the week in the NFL, those who bet on that player to score a touchdown would claim a share of a pool of bonus bets.

They did something similar in basketball with their King of the Court promotion. With that promotion, bettors could wager on scoring props for players and take in a share of bonus bets if that player was the high-scorer in the NBA for that night. While it is hard to win those types of promotional games, the potential for a nice bonus payout on top of the winnings from a prop wager is a fun way to get some extra value from DraftKings.

Sports to Bet On With the DraftKings Promo Code

DraftKings has an impressive selection of betting options to choose from. This starts with a huge number of sports to bet on. Bettors can wager on mainstream sports like football and basketball. But they can also take on sports that they may not have known existed if not for seeing it on DraftKings. below is a list of sports that are up for wagering at DraftKings.

• Football
• Basketball
• Baseball
• Hockey
• MMA
• Boxing
• Golf
• Motorsports
• Soccer
• Tennis
• Aussie Rules
• Cricket
• Cycling
• Darts
• Jai Alai
• Lacrosse
• Rugby
• Sailing
• Snooker
• Olympic Sports

Of course, which sports are available for wagering depends on the time of year. There are also some betting limits depending on which state you are in. For example, some states may not allow betting on in-state college teams or certain kinds of prop bets. But even in the most restrictive state in which DraftKings operates, there is always a huge selection of bets to be made.

Types of Bets to Place At DraftKings

Within the sports listed above, there are a massive number of betting options to choose from. Most sports offer the majority of these bet types.

• Point Spreads
• Over/Unders
• Moneylines
• Same Game Parlays
• Other Parlays
• Props
• Teasers
• Futures
• Live betting

More mainstream sports offer more betting options. For example, you can find a long list of player props in leagues like the NFL and NBA, while those kinds of bets aren’t quite fleshed out in obscure sports like jai alai. But there is something for everyone at DraftKings, which you will see when you browse the long list of choices that are up for grabs each and every day.

DraftKings Banking Options

When taking advantage of our exclusive DraftKings promo code, you will need to be able to make an initial deposit. You will also need to be able to withdraw your funds should you come out ahead after placing your bonus wagers. Fortunately, DraftKings has made it incredibly easy to make deposits and withdrawals, helping you to get the most out of their welcome bonus. Below you will find the different deposit and withdrawal options that can be used at this site.

Deposit Methods

As far as deposit methods go, you can’t do much better than the list of options at DraftKings. Bettors can use traditional options like debit cards and online banking transactions. They can also use more innovative methods like Venmo and even DraftKings gift cards. Below is the full list of deposit methods that are accepted at DraftKings, though these can vary by state depending on your state’s regulations.

• Apple Pay
• ACH/online banking
• Visa
• Mastercard
• Cage Cashier
• Cash at Retail Stores
• DraftKings Gift Card
• Wire Transfer
• PayPal
• Venmo
• VIP Preferred e-Check
• Play+ PrePaid Card

Most of these deposit methods are instant and will allow you to fund your account quickly so you can place your qualifying wager and claim your bonus funds. Remember to make an initial deposit of at least $5 to be eligible for the bonus.

Withdrawal Options

There is a long list of withdrawal methods available at DraftKings online sportsbook as well. Bettors can get their funds online or even in cash at select casino locations. Below, you will find the full list of DraftKings withdrawal options, many of which offer same-day payouts.

• Cash withdrawals (Casino Cage where a sportsbook is located)
• Pre-paid Play+
• VIP Preferred
• PayPal
• Venmo
• Apple Pay
• ACH/online banking
• Wire Transfer

DraftKings Sportsbook App

The DraftKings Sportsbook mobile app is one of the top sports betting apps available in the United States. They very clearly thought through every aspect of the user experience when designing this app. I enjoy how easy it is to get to the sports that I care about the most, which are well-organized at the top of the home screen. I’m also a big fan of the dark color scheme, which every sportsbook app should use instead of the bright white backgrounds that plague so many sportsbook apps today.

The DraftKings app is available on both iOS and Android devices and has overwhelmingly positive review scores on both the App Store and Google Play Store. To get more info on the DraftKings app, you can check out our full DraftKings Sportsbook app review.

DraftKings Sportsbook Customer Service

There is nothing worse than when you need help claiming a sports betting bonus and help is not available. Fortunately, that is not a problem at DraftKings Sportsbook. At DraftKings, customer service is available 24/7 via their live chat service. Bettors can also send an email at any time of day if they are comfortable waiting for a response via that medium. They also have an extensive knowledge base where you can search for the answers to your questions if they can be answered without human assistance.

Responsible Gambling at DraftKings Sportsbook

As an experienced sports bettor, I recognize the importance of maintaining control while enjoying the excitement of wagering. DraftKings Sportsbook prioritizes responsible gambling by offering a comprehensive suite of features designed to help bettors stay within their limits and enjoy a secure betting environment. Whether you’re new to sports betting or a seasoned player, DraftKings provides the tools you need to gamble responsibly.

Key Responsible Gambling Features

DraftKings Sportsbook implements several internal and external resources to promote responsible gambling. These features are tailored to help you manage your betting habits effectively and seek assistance when necessary.

External Responsible Gaming Resources

In addition to its internal tools, DraftKings connects users with several external resources to support responsible gambling:

• American Gaming Association
• Gamblers Anonymous
• BetBlockers

These partnerships ensure that you have access to professional help and community support whenever needed.

Commitment to Responsible Gambling

DraftKings Sportsbook places responsible gambling at the forefront of its mission. By offering these robust features, they empower bettors to enjoy their betting experience while maintaining control over their gambling activities. It’s essential to always gamble responsibly and within your means, utilizing the tools DraftKings provides to stay within your comfort zone.

Conclusion: Is the DraftKings Promo Code Worth Using?

DraftKings Sportsbook stands out with its generous and straightforward promotional offers, catering to both new and seasoned bettors. The Bet $5, Get $200 in Bonus Bets offer is highly recommended for its ease of use and immediate rewards, making it an excellent choice for those looking to enhance their initial betting experience without extensive requirements.

By using this promotion, you can significantly boost your bankroll early on and enjoy a more rewarding experience on DraftKings Sportsbook. I highly recommend taking advantage of this promotion to start your time at DraftKings on the right foot.

DraftKings Promo Code FAQ

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