ByTyler Maher

Feb 28, 2024

DraftKings $200 Promo Code | Bet $5, Get $200 Instantly

    • DraftKings Sportsbook Welcome Offer

      $1K No Sweat Bet

      $1K No Sweat Bet

      Gambling problem? Call 1-800-GAMBLER CO, DC, IL, IN, KS, KY, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY Call 877-8- HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ to wager. Please Gamble Responsibly. Call 1- 800-NEXT-STEP (AZ), 1-800-522-4700 (NV), 1-800-BETS-OFF (IA), 1-800-270-7117 for confidential help (MI), 1-800-981- 0023 (PR).

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DraftKings $200 Promo Code + SGP Parlay Token

Note: DraftKings has switched its offer to a promo. Make your first wager of at least $1 (up to $1,000) and you’ll get that amount back in bonus bets if it loses.

Great news: The is back!

Right now, new users can once again get a Bet $5, Get $200 in bonus bets instantly when they sign up for DraftKings Sportsbook.

This is one of the best sportsbook promos around because there’s very little monetary risk: Just sign up, bet $5 on any market and you’ll instantly get $200 in bonus bets - no strings attached!

There is no promo code needed to get this DraftKings Bet $5, Get $200 promo.

What’s more, you also get a $50 No Sweat Same Game Parlay Token to use every day there’s an NFL game.

Keep reading as we tell you everything to know about the DraftKings $200 promo code.

💰 DraftKings Sportsbook PromotionGet $1,000 First Bet Insurance
🎁 DraftKings Sportsbook Promo CodeNone needed
📔DraftKings Sportsbook Promotion TermsGet your first bet back in bonuses if it loses, up to $1,000; bonus bets have no cash value and expire in 7 days, bonus bet distributed as one bet token.
⚖️ DraftKings Legal StatesAZ, CO, CT, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MS (retail), NH, NJ, NY, OH, OR, PA, TN, VA, WA, WV, WY

When you sign up for this DraftKings $200 promo code offer, you’ll receive eight (8) $25 Bonus Bets, totaling $200 in bonus bets.

Those bonus bets will expire after seven (7) days and are not eligible for DraftKings odds boosts or to be settled using the cashout feature.

This is one of the best sportsbook promos in the industry because you get your bonus bets instantly and there’s no playthrough requirement - any money you win from these bonus bets can be withdrawn immediately.

NOTE: DraftKings North Carolina will be launching on March 11.

If you’ve already signed up for DraftKings — be sure to check out these other sportsbook bet and get promotions:

  • Caesars - $1K First Bet Bonus (all betting states):
    • Sign up at Caesars and use code
  • (all sportsbook states):
    • No promo code is required for this offer.
  • bet365 Bet $5, Get $150 (CO, NJ, OH, VA, and IA)
    • Register at bet365 and use code

How the DraftKings Bet $5, Get $200 Promo Works

Taking advantage of the DraftKings new customer offer is easy — just follow these steps:

  • Click “Get Bonus" at the top or bottom of this page.
  • Create a DraftKings account and finish any necessary identity verification steps.
  • Choose one of the many safe and secure deposit methods and deposit $5 or more.
  • Place your first wager of $5 on any sport.
  • Whether that bet wins or loses, you’ll receive eight (8) $25 Bonus Bets.
  • Bonus Bets are valid for seven (7) days and failure to use them will void the promotion.

You are not allowed to combine bonus bets or your qualifying wager with odds boosts, profit boost, or bets settled using the cash-out feature.

In order to be eligible for the promotion, you must be a new user present in states where DraftKings Sportsbook is operational.

DraftKings No Sweat Bet Promo: Get a $50 Same Game Parlay Token

You might have seen the TV ads with Kevin Hart talking about DraftKings’ No Sweat Bet and been confused by this development.

After all, rival FanDuel made the No Sweat Bet a thing — now DraftKings has grabbed ahold of the term as well. Right now, when you sign up for the DraftKings $200 promo code you’ll get a No Sweat SGP Token worth up to $50.

This extra layer makes the DraftKings $200 promo by far the best on the market - and that’s before we tell you that you get more than one!

DraftKings is giving new users who sign up with the DraftKings promo a No Sweat Bet to use on Same Game Parlays for every day the NFL kicks off.

DraftKings No Sweat Bet Promo Explained

So how does the DraftKings No Sweat Bet for Same Game Parlays work, you ask? Simple. Once you sign up, you’ll get your 8 $25 bonus bets that come with the DraftKings $200 promo code.

After that, you’ll be able to bet at least $50 on a Same Game Parlay of at least 3 legs. If it loses, you’ll get that amount back in the form of a bonus bet. Let’s take a closer look at the details:

  1. Sign up for the - no promo code needed
  2. You will need to do this in order to activate the DraftKings No Sweat Bet promo
  3. You’ll get a No Sweat SGP token 3 days a week - one for each day there is an NFL game (s)
  4. Craft your 3-leg Same Game Parlay (we recommend a mixture of favorites and underdogs for maximum payout)
  5. You can use both pre-game and live betting markets for this promo
  6. Click the “Apply Bonus" button on your bet sheet to activate the DraftKings No Sweat Bet promo
  7. Make a wager up to $50
  8. If the wager loses, you’ll get that amount back in the form of bonus bets
  9. Bonus bets have no cash value
  10. The DraftKings No Sweat Bet SGP Parlay token will expire after 7 days

The Best Way to Use the DraftKings $200 Promo

This promotion is great because you only have to deposit and wager $5 to qualify to receive $200 in bonus bets. Even if your first wager doesn’t win, and exceeds $5, you’ll receive $200 in bonus bets.

You can pick any NFL, MLB, NBA, or other moneyline or spread bet. The important thing is winning your first bet, you shouldn’t worry about the odds but just about winning your bet.

You can almost think of this as a odds boost promotion, you bet $5 at (+3000) odds on any wager, so you’ll want to pick the bet with the best odds and chance to win, without worrying about the original odds.

We recommend taking a heavy favorite, the bigger the better, and betting $5 on their moneyline. This would preferably be done in a sport with lower variance.

Either way though, you can’t go wrong with any first bet because you’re getting $200 in bonus bets either way!

An important note with your bonus bets is that they will expire seven (7) days after issuance, so be sure to use them within that time frame so they do not expire and you miss out on your bonus.

It’s also important to know that you will not receive the stake back of your bonus bets. You’ll only receive the profits if your bet wins. So if you place a $25 bonus bet on a bet with odds of (-200), you would only receive the $12.50 in profits and not your $25 stake back.

This incentives bettors to take bets with longer odds — underdogs, parlays, or futures — to maximize the bonus bets. If you take a favorite you might be more likely to win, but you’d also be leaving money on the table.

Since you only receive the winnings of bonus bet wagers, taking a risk and using your bonus bets on wagers with longer odds is the best way to get the most out of your bet and get welcome offer.

Read Anthony Cervino’s DraftKings Sportsbook review to learn more about DraftKings, or simply sign up today by clicking “GET BONUS" at the bottom of this page and start betting!

Promo TypeNew User Promo
SportsBookDraftKings Sportsbook
How to EnterSign Up & Bet
Promo CodeNone needed


Tyler Maher

Tyler Maher is a Content Editor for The Game Day, where he edits and writes for the site. Prior to joining The Game Day, he was a fantasy baseball writer and social media editor for A graduate of Tufts University, Tyler is a die-hard Boston sports fan who can't wait for the next duck boat parade.

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Call 877-8-HOPENY or text HOPENY (467369) (NY).

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