DraftKings Sportsbook Review and Bonus Code | Get $200 in Bonus Bets | February 2023

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DraftKings Rating Overall Rating 5/5
Reviewed by: Mike McDermott

Licensed in the United States

AZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NH, NJ, NY, OR, PA, TN, VA, WV, WY

A Unique Review DraftKings Sportsbook With An Excellent New User Signup Bonus

Dominating the DFS landscape wasn’t enough for DraftKings. Now they’re dominating the sports betting industry as well. The simple transition from DFS to betting gave DraftKings a leg up on most of the competition by being one of the first to offer online sports betting via mobile apps and desktops in legal jurisdictions.

DraftKings Sportsbook’s mobile app is now available in all states where US sports betting is legal, including Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, Wyoming, and more states are expected to come on board soon.

If you don’t live in one of the above states, but live in a neighboring state, all you have to do is signup and register then be within the legal state’s border and you can access the app and place your bets. That means states like Delaware, Nebraska, Minnesota, Missouri, Ohio, Kentucky, and more can go to a nearby state to place their wagers.

Because of the wide-ranging success of daily fantasy sports, DraftKings was part of the push for legalized sports betting and the opportunity to add more revenue streams to its empire. Even though sports betting has not been approved in nearly as many states as DFS has, DraftKings’ imprint on the gambling landscape left the company in a great spot to transition its app over for betting purposes.

DraftKings Info

Betting Site: DraftKings
Website: draftkings.com
Established: 2012
Deposit Bonus: $200
Bonus Code: None Needed- Use Link
Min Deposit: $5
Max Deposit: Unlimited

The Good & Bad At DraftKings Sportsbook

Draftkings Pros

  • Easy to use betting interface
  • Beginner Friendly
  • Bet 5 win 200 promos
  • Parlay Insurance
  • Bet Refunds
  • Limit Bet Sizes

Draftkings Cons

  • Separate DFS & Betting Apps
  • No Venmo

DraftKings Sign Up Bonus & Deposit Bonus

DraftKings Sign up Offer & Bonus CodePromo
💰 DraftKings Bonus CodeNo Code Needed – Click Here
🔥 Deposit BonusBet $5 Win $200
💻 📱 PlatformsDesktop/Android/IOS
🇺🇸 States Applicable T&CAZ, CO, CT, IL, IN, IA, KS, LA, MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY

How does the odds boost bonus work? Register a new account using the links above, and make a deposit using one of their many safe and secure banking options.

Once you are loaded up, place a wager of $5+ on any sports moneyline and if your team wins, you will get $200 in Bonus Bets on top of the moneyline winnings!

Did you know? DraftKings also offers the popular Bet $5, Win $200 offer, we keep those updated here

Bet $5 Win $200

Check Out the Latest DraftKings 40-1 Promotions

Other On-Going DraftKings Promotions

  • Daily Free To Play Pools – Free to play. Every day. Climb the leaderboard and win cash prizes in our daily free-to-play pools!
  • Refer a Friend – Refer your friends and you can both get a Bonus Bet of up to $100!
  • Same Game Parlays – DraftKings offers the extremely popular Same Game Parlay bet type that has taken over the American sports betting landscape!

DraftKings Rewards Program

DraftKings Sportsbook offers their players daily and weekly promotions. For example, Daily Odds Boosts, Refunds, Parlay Insurance, and Risk-Free Bets. Bettors can also accumulate “crowns” for placing bets, which can be redeemed for Bonus Bets and more.

DraftKings Teasers

Does DraftKings Have Teasers?

Yes, you can bet teasers on DraftKings Sportsbook, they offer 6, 6.5, 7 point teasers from two to six picks, if a pick is a tie, the pick is removed. To team teasers with a win and tie is considered no action.

DraftKings Teaser Payout Tables

Football Teasers At DraftKings

# of Picks6 Points6.5 Points7 Points
2-120-130-140
3+160+150+130
4+260+230+200
5+400+350+320
6+600+500+450

Basketball Teasers At DraftKings

# of Picks4 Points4.5 Points5 Points
2-110-120-130
3+170+150+130
4+290+240+190
5+450+400+350
6+650+550+450

DraftKings sportsbook also offers a Super or Monster teaser. Super teasers include three picks and 10 points in football, 8 in basketball with -120 odds, ties lose. Monster teasers are 4 picks with 13 points in football -140 odds and 10 points in basketball -120 odds, ties lose.

How to make a teaser bet on Draftkings

Time needed: 2 minutes.

Making a teaser bet on Draftkings sportsbook is an easy 4 step process.

  1. Select the sport you want to start your teaser with

    use the A-Z sports menu on left side of screen
    Choose Sports

  2. Select the games to use in your teaser

    click on each game spread or total you want to use in the teaser
    Select Teaser Games

  3. On the Bet slip click Teaser and enter the bet amount

    select teaser and enter the amount you wish to risk on your teaser bet
    Teaser Bet Slip

  4. Place teaser bet

    at the bottom of the bet slip click place bet
    Place your bet

DraftKings Parlays

Does Draftkings offer Parlay Bets?

Yes, DraftKings sportsbook offers both traditional parlays and single game parlays aka SGP’s up to 7 picks.

DraftKings Parlay Payout Table

This payout table is based on each pick having -110 odds, higher or lower odds will affect the payout.

Parlay # of TeamsPayoutParlay # of TeamsPayout
2 Team2.64-15 Team24.35-1
3 Team5.95-16 Team47.41-1
4 Team12.28-17 Team91.42-1

To calculate a DraftKings parlay with different odds use the following steps:

  1. Convert the money line odds to decimal odds.
  2. Multiply each picks decimal odds together.
  3. Multiply that result by your bet amount.
  4. Subtract your bet stake to get the resulting parlay odds.

Parlay betting is another popular sports bet at Draftkings Sportsbook and it’s as easy as making a teaser bet. Simply follow these four quick steps:

Step 1: Choose the sports you want to use for your parlay bet

Choose Sports

Step 2: Choose the games for your parlay by clicking on the team spread, moneyline, over/under, or props

parlay betting teams

Step 3. Click Parlay in the middle of the bet slip

Step 4. Enter your bet amount and click Place Bets. Remember when betting a parlay the more teams you select the higher the payout, but lower the chance to win!

Whats Great About DraftKings Sportsbook

Big bettors, small bettors, hobbyists, semi-pros, amateurs, novices, it doesn’t really matter what kind of bettor you are. DraftKings will take your action and will give you a lot of different sports and styles of betting. Even if you just want to try it out with a test drive to have some fun and give it a try, DraftKings takes wagers as small as 10 cents!

Do you prefer to play parlays? DraftKings has fair parlay odds and great “How To” videos explaining what a parlay means and how you can win one. Are you a straight bettor of sides and totals? DraftKings has all of those standard options as well.

NFL, college football, college basketball, MLB, NBA, Golf, NHL, MMA, Tennis, Soccer, Motorsports, Boxing, Cycling, Cricket, and all sorts of other betting odds are available. Unfortunately, one big downside to DraftKings is that college sports that are played involving states that prohibit in-state college sports betting are not listed on the site. This is not exclusive to DraftKings, and is an issue with the states themselves, but is worth being aware of.

DraftKings, along with the standard DFS contests and the betting options, allows for the creation of Sportsbook Pools, in which players can play pick ‘em contests against other entrants to pick the straight-up winners of MLB or NFL games. Most of them are Guaranteed Prize Pools that have a certain amount of money to hand out for winnings, even if there aren’t enough sign-ups to get to that prize pool amount.

What Makes DraftKings Sportsbook Unique?

Along with the Sportsbook Pools, DraftKings has a revolutionary live betting system. Where a lot of sportsbooks that offer live betting force players to make new bets, DraftKings’s live betting system allows you to cash your winner early at a different vig.

For example, if the Patriots are -8 and are winning by 14, you won’t get the full value of your -110 bet at -8, but you would make some money on it if you decided to cash in your ticket early and avoid a backdoor cover or a bad beat. Instead of running the risk of that garbage time touchdown, that so many of DraftKings’ players are all too familiar with, you can simply take your profit and run. Just know that you won’t make as much as you would if you waited it out and won.

Sign Up, Deposit, and Withdrawal

Deposit Options

  • ACH
  • Visa
  • Mastercard
  • Cage Cashier
  • Wire Transfer
  • PayPal
  • VIP Preferred e-Check
  • Play+ PrePaid Card

Deposit limits and fees will vary based on what you decide to use. The minimum for any deposit is going to be $5, but the maximum can have a wide range based on the method of deposit. Some options can take up to 48 hours to clear.

Withdrawal Options

  • Cash withdrawals (Casino Cage where A sportsbook is located)
  • Pre-paid Play+
  • PayPal
  • Bank Transfer (ACH)
  • Wire Transfer

Draftkings protects your personal and financial information with state-of-the-art encryption and cybersecurity technology. Their withdrawals are quick and easy and bettors typically receive their funds within two days at the most.

Latest Promotions At DraftKings Sportbook

DraftKings FAQs

How does DraftKings work?

Signing up for Draftkings is simple, fill out the short registration form, verify your identity, deposit $5 or more using the many cashier options and place a bet!

Where is Draftkings sportsbook legal?

Draftkings Sportsbook is legal in the following states with more to come: Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming

How to play Draftkings in a restricted state?

Sports bettors can sign up at DraftKings in any state however you must be within the borders of a legal state to place a wager. Bettors can travel to a legal state to place their bets as they please.

How to enter the promo code on Draftkings?

Draftkings Sportsbook does not require a promo or bonus code when signing up, the bonus is applied based on what promotion you sign up for.

DK is also operating brick-and-mortar sportsbooks in several US states. Being one of the most popular sportsbooks in the US, DraftKings is an attractive sports betting partner for most brick-and-mortar casinos looking to offer a state-of-the-art sportsbook.

StateCasino PartnerLaunch Date
New JerseyBorgata Hotel & CasinoAugust 2018
IndianaHollywood CasinoJuly 2019
IllinoisHawthorne RaceMarch 2020
IowaCatFish Bend CasinoJanuary 2020
ColoradoMardi Gras CasinoJanuary 2020
PennsylvaniaMeadows CasinoNovember 2019
West VirginiaHollywood CasinoAugust 2019
New Yorkdel Lago CasinoNovember 2018
TennesseeOnline OnlyNovember 2020

Live In New Jersey or Iowa? Follow our step by step registration guides

Because you know it. You know the name. You know the reputation. You can trust that you will get paid out in a timely fashion and that you will have a lot of betting options. You’ll get bonus bets, promotions, and one of the best initial deposit bonuses in the business. The sportsbook itself is also of high quality, and is much more than just a name.

Sign up at DraftKings today!