Like many other prominent sportsbooks, DraftKings offers welcome bonuses to its new consumers. DraftKings provides welcome bonuses up to $1000, allowing users to get a feel for the sportsbook.
The welcome bonus is offered in bet credits which can be withdrawn once playthrough requirements are fulfilled. Welcome bonuses are important because they allow users to have more opportunities to win.
Sports betting is a high-variance venture, so users need to take advantage when they’re handed +EV opportunities like welcome bonuses. Make sure to always check if the sportsbook is offering a welcome bonus before signing up. Be sure to take advantage of this terrific promotion!
DraftKings Promo Code
You do not need a DraftKings promo code. All you need to do is click the “Get Bonus” button, which will trigger the offer of a deposit bonus of up to $1,000.
This promo is applicable for all the states where DraftKings is currently operational:
- New Jersey
- New Hampshire
- West Virginia
DraftKings Signup Bonus
DraftKings offers a signup bonus where they can provide up to $1,000 in bet credits depending on how much is deposited into the account upon registration.
DraftKings No-Deposit Bonus
DraftKings is not currently offering a no-deposit bonus at this time.
DraftKings Deposit Bonus
DraftKings does offer a first deposit bonus, but there are some stipulations involved. Users are required to deposit at least $5 in order to qualify for the deposit bonus. DraftKings will match 20% of the funds, which means that users will need to deposit $5,000 in order to qualify for the $1,000 bonus.
The bonus is provided in bet credits, which can only be withdrawn once users meet the playthrough requirements. For every $25 played, users will receive $1 in withdrawable credits. You can earn up to $1,000 in withdrawable bet credits.
DraftKings Risk-Free Bet
DraftKings is not currently offering risk-free bets at this time.
Benefits of the DraftKings Bonus
There are benefits to the DraftKings bonus, including the following:
- Bettors are given free bet credits to use on any preferred bet.
- Opportunities to get higher payouts without using your own funds.
- Bettors can familiarize themselves with the sportsbook.
- Bettors can practice placing different types of wagers without incurring the same financial risk.
The Best Way to Use the DraftKings Promo
There are many different ways to take advantage of the DraftKings welcome bonus. One way could be to use it on a straight bet that you really like because straight bets are much easier to win than parlays. However, straight bets don’t provide as much upside in payouts as parlays.
Using the welcome bonus on parlays (three or more legs) is my preferred strategy with bet credits. This is because you’re essentially “playing with house money” to try to hit big on a longshot parlay. You can continue to use the welcome bonus on several longshot parlays, hoping to hit at least one to secure the big payout.
Make sure not to use too much of the bet credits on one specific parlay. Instead, you should “spread the wealth” so that you can bet on multiple parlays.
For example, let’s say that I deposited $1000 into my DraftKings account, which qualifies me for $200 in bet credits. I would vary my bets based on the size of my parlay. If it was a six-teamer, I’d only put $5 on the parlay. However, if it was only three legs, I would put $10 on the parlay.
Money management is important, even if you’re using bet credits. The goal is to take as many shots as you can to try to hit that big payout. It’s a great way to “swing for the fences” without taking on any financial risk.
DraftKings Free Bets vs No-Deposit Bonus
Free bets are provided in the form of bet credits as a welcome bonus on DraftKings.
No-deposit bonuses are signup offers that are provided to users, regardless of how much is deposited into their account.
No-deposit bonuses are good because users don’t need to deposit any funds into their account, but usually, they aren’t as high as welcome bonuses. Welcome bonuses are preferred because they allow users more opportunities to place wagers since more money is provided.
DraftKings currently offers a welcome bonus but does not provide users with a no-deposit bonus.
How to Redeem the DraftKings Bonus Code
- Click on the “Get Bonus” link to activate the welcome bonus
- Even though it asks for a promo code, you don’t actually need one
- Sign up for your DraftKings account
- DraftKings will match 20% of your first deposit
Do DraftKings Promos Expire?
There are usually time limits on when promo codes usually expire. For DraftKings, their promo code expires at the end of 2021. The sportsbook will likely supply another promo code for new users at the beginning of 2022.
After signing up, there is no time limit to use your bet credits. You just need to meet playthrough requirements in order to withdraw your funds.
What Are Wagering Requirements?
Wagering requirements, or playthrough requirements, represent how many times users need to play through a bonus before they are able to withdraw their winnings. At DraftKings, every $25 played in bet credits represents $1 in withdrawable funds.
Is There a Way to Track Your Bonus Progress?
You can track your progress in unlocking your bonus rewards on the DraftKings app by clicking your account and checking your balance. DraftKings will let you know how much of your current balance is withdrawable.
When Will I Receive My DraftKings Bonus Credits?
Users can expect to see their bonus credits obtained through the welcome bonus immediately following their first deposit.
DraftKings does have various promotions for different leagues and different times of the year.
DraftKings NFL Promotions
NFL Wild Card
DraftKings Sportsbook bettors are able to claim a free Wild Card. Each card includes either a player challenge or an instant win prize. A player challenge can be an outcome like “Josh Allen throws for at least 300 yards in Week 1.”
If the player completes the challenge, users win the prize assigned on the card. This promo is good for Weeks 1 and 2 of the NFL season, expiring on September 13, 2021.
DraftKings NBA Promotions
There are currently no NBA promotions since the league is in its offseason. Once the season starts, look out for similar Wild Card promotions related to NBA player props (just like in NFL).
DraftKings MLB Promotions
MLB Same Game Parlay Free Bet
Users can use a $10 free bet on a Same Game Parlay in any MLB game from August 12th to August 18th. Same Game Parlays are only available on mobile. The Free Bet amount is not included in any winnings.
With that being a past promotion, be on the lookout for any upcoming MLB promotions during the baseball season.
DraftKings NHL Promotions
The NHL is also currently in its offseason, so there are no promotions at this time. You can expect to see a similar free bet promotion on Same Game Parlays in the NHL.
DraftKings Sports Promotions
DraftKings Sportsbook provides assigned contests that apply to this promotion, such as WWE SummerSlam. Users can enter the contest, make predictions, and win prizes. These contests are free to join with prize pools from $500-$25,000.
There are no state-specific bonuses, as all the bonuses in which DraftKings is active in are the same. Those states are:
- New Jersey
- New Hampshire
- West Virginia