Online Betting / DraftKings Bonus Code

DraftKings Sportsbook Bonus: Step-by-Step Guide & Promo Codes

James Leeland
Editor
Fact checked by: Jim Knight
Last Updated on 19.05.2024

DraftKings is the top destination for fantasy and regular sports alike, and they also offer a huge range of bonuses, but how do those DraftKings bonuses stack up, and are they right for you and your bet style?

We jump right into the DraftKings offerings from the welcome bonus to the daily bonuses all the way to their VIP program, so that you not only know what to expect but also how to make the most out of any bonus you claim on DraftsKings. So get started and read through our expert guide today.

Read More
DraftKings Sports Bonus
20% up to $1000
T&Cs apply, 21+
Visit Site
PayPal
VIP Preferred
Play+
Discover
Bank Transfer
Visa
Mastercard
BankWire
Venmo
Cash
Bonus Type
Deposit Bonus
Wager
1x Bonus
Min. Deposit
$5
Cashable
Yes

DraftKings Welcome Bonus: Everything You Need to Know

DraftKings Logo
DraftKings Sportsbook
DraftKings sportsbook
Claim your bonus on your phone

DraftKings is an online sportsbook with a massive, comprehensive fantasy sportsbook, giving bettors more ways to bet on sports than ever before. We go into depth about DraftKings and all it offers in our expert DraftKings sportsbook review, so you can investigate further to see if this operator is right for you.

As for its welcome bonus, DraftKings has multiple options:

Bet $5, Get $150

This bonus gives you $150 if you bet $5 or more on any sport during the promotional period. You get the bonus funds worth $150 regardless of whether your bet wins or loses. Rather than $150 you can use as you wish, you’ll get six $25 free bet tokens that you can use on any sport. You must wager those free bets once to clear the wagering requirements, and you have 7 days to do so.

Playthrough Bonus

You can get up to $1000 in DK Dollars with this big bonus. You can deposit anything between $5 and $5000, and then can get 20% of that deposit back in DK dollars if you clear the wagering requirements. For example, for every $25 you wager, you’ll unlock $1 of DK Dollars. This means if you deposited $5000, you’d have to wager $25,000 to unlock all of your $1000 DK Dollars. You have 90 days to clear this wagering requirement. DK Dollars themselves, however, don’t expire, so you can use them at your leisure.

1.
Sports Bonus
Deposit Bonus
20% up to $1000
Min. Deposit: $5
Cashable: Yes
Odd: -
Get Bonus
T&Cs apply, 21+
2.
Sports Bonus
Welcome Bonus
No Sweat Bet up to $1,500 + NBA SGP Every day of the playoffs
+ All-Customer SGP Insurance
Min. Deposit: $5
Cashable: No
Odd: -
Get Bonus
T&Cs apply, 21+

The Step-By-Step Guide to Claiming This DraftKings Bonus

DraftKings promotions are certainly unique, so it’s important that you fully understand exactly what it offers, and how to claim it, before you accept. To start, we’ll go through the exact steps that you need to take to claim the bonus:

  1. Sign Up and Claim the Bonus: Only new players are eligible for these welcome bonuses. Either use the DraftKings bonus code (which can be found underneath each bonus option on their promotions page) during sign-up, or click on the bonus link afterward to claim the bonus.
  2. Make Your Deposit: Next, make a qualifying deposit of $5 for the free bet bonus, or between $5 and $5000 for the playthrough bonus.
  3. Start Wagering: To claim the bet-and-get offer, you need to place a $5 bet on anything. Regardless of whether that bet wins or loses, you’ll receive your six free bet credits worth $25 each.
    If you claim the playthrough bonus, then you have 90 days to wager 25x your initial deposit. You’ll get $1 DK dollar for every $25. Bets must be placed on odds of 1.33 or higher.
  4. Use Your Free Bet Credit/DK Dollars: Each bet credit you get must be used all at once on a single bet, and cannot be split up. This means one $25 bet credit can only be placed on one wager, not split up over more, and you get six free bets worth $25 each. DK dollars can be used freely and at your discretion.

Five Top Tips To Remember When Using These DraftKings Promotions

Now that you know how to claim and get those DraftKings bonuses, it’s time to learn some tips and tricks to help you use them more effectively.

Don't Forget to Wager Your DK Dollars/Bet Bonus

To convert the free bets or DK Dollars into actual funds, you must wager them at least once. They can be bet on any odds and on any sport though, so you’re free to bet how you wish.

Progress is Locked With the Playthrough Bonus

If you earn $15 DK dollars, and then the time period ends, you keep that amount even if it’s not the maximum amount you could have earned, so don’t stress if you feel like you won’t make the wagering requirement.

Always Read Through the Terms and Conditions

It’s critical that you always read the terms and conditions thoroughly. These DraftKings offers may end, and renew with a similar offer but with different terms and conditions, so always double-check before you actually claim it.

There's No Need to Rush When Using Your DK Dollars

Once you have those DK Dollars, they are yours to use when you feel like it. They also don’t expire, so there’s no rush.

Make Sure You “Apply Bonus” When Using the Bet Slip

In order to actually use your free bets you’ll need to use the drop-down menu on the bet slip to select Apply Bonus. This will use the free bet credit, rather than your own funds.

FAQs About the Welcome DraftKings Bonuses

🧑‍💻 Are there promo codes to use on DraftKings?

Yes, you can use a DraftKings promo code to access the specific promo you want, but it isn’t necessary. You can find all the DraftKings promo codes on their site or use the link on the promotion to apply it that way.

📈 Can I track my DraftKings offer progress?

Yes, DraftKings has a bonus tracker that you can access at any time in your account, so you can see how much you’ve won and what else you need to do for the bonus at any time, making it easy to keep track especially if you’ve chosen the playthrough bonus option.

💳 Are there any payment restrictions when claiming bonuses on DraftKings?

No, you can use any allowed payment method to claim the bonuses. There are no specific restrictions.

🤔 Do I have to claim the welcome bonus straight away?

No, you just have to have never made a deposit/bet on DraftKings and claim the welcome bonus while the promotional period is still valid. You can claim the bonus either by using the link, or by inputting your chosen DraftKings sportsbook promo code in the deposit or sign-up page.

⏰ How long does it take for the bonus funds to enter my account?

The bonus can take 24 hours to 72 hours to enter your account, so be patient.

What Other Offers are Available at DraftKings?

Once you’ve used your welcome bonus, there’s a host of other DraftKings bonuses available for you to use to expand your bet strategy and play style. These bonuses are right up there with many of the other top betting bonuses we’ve reviewed in the past, so you can rest easy knowing you’ll have a wide variety of options available to you on DraftKings. There’s even a VIP program, which frequently and high rollers get additional bonuses.

DraftKings Bonuses Available to All Players

You’ll be able to find all of the DraftKings bonuses on the promotions page and how many months, days, or even hours are left on the promotion. While most of the DraftKings offers have short shelf-lives, they get replaced quickly, so you always have a decent roundup of offers available.

Jackpot Pools

This jackpot bonus starts with $10,000, and gets added to for every entry, so as time goes on, the pot gets bigger until someone wins. To win, you need to get all 15 (or 14, if there’s just one game cancellation) bets correct. Every player gets up to 10 entries maximum.

Same Game Parlay Insurance

With Parlay insurance bonus, you get a portion of your original stake back if just one selection in your parlay bet loses. Each selection must be on odds 1.33 or higher. The bonus bet you get back expires 7 days after you win it. These types of bonuses on DraftKings are available for select days or events only.

Profit Boost Bonus

Profit boost bonuses on DraftKings are available on select sports and tournaments, and change out regularly (for example, NBA SGP/SGPx). You can use this type of bonus on any game in the eligible sport on the day it’s made valid by placing an accumulator bet with 1.33 odds or higher. If your bet wins, your winnings over the original stake are increased by 50%.

Odds Boost Bonuses

Another 24-hour bonus you’ll see on DraftKings is an odd boost, which gives you an odds boost token to use on a specific game, or at specific bet.

With these promotions, the bets have to be on a specific game and specific bets to quality. The maximum bet you can place on the promotional bet depends on your VIP standing and bet history. You cannot cash out these bets early, or use it on any other bet or game.

DraftKings’ VIP Program

Many of the top online betting sites we’ve reviewed offer a VIP program, which gives frequent, especially high-roller bettors extra bonuses and promotions. You’re enrolled into DraftKings’ Dynasty Rewards program automatically. You can even jump up a tier or two depending on your VIP tier status on other sites (but this is subject to review, and you do need to get in touch with the DraftKings customer support team to get the ball rolling).

This VIP program is broken down into two different currencies, which you earn simultaneously: crowns and tier credits.

  • Crowns – Can be used in the store, or converted into DK dollars. 550 Crowns = 1 DK Dollar
  • Tier Credits – Go towards your tier level

How many crowns/tier credits you earn depends on how much you wagered and what types of bets:

  • $1 wagered on parlays and same game parlays = 1 Crown
  • $2 wagered on straight bets and futures = 1 Crown

You also earn Crowns and tier points when you pay the fantasy sports entry fee, play casino games, and even spend points in the marketplace.

Dynasty Rewards Tiers and Perks

There are five tiers in the Dynasty Rewards program. You need to wager more to increase to the next level. You get perks at every level, and can always earn crowns that are then converted into DK Dollars, or spent at the store for physical items. On top of earning and being able to spend crowns, you’ll also get these perks as you rise through the ranks:

PerksBronze
0 – 4,999 Credits
Silver
5000+ Credits
Gold
25,000+ Credits
Diamond
90,000+ Credits
Onyx
175,000+ Credits

Crowns BoostN/A10%20%30%40%
Store Access
Weekly Prize Chests (In Crowns)500 – 100,0002,000 – 200,00010,000 – 1 million20,000 – 5 million
Priority Customer Service
Tier Welcome Gift
Exclusive VIP Experiences and Events Access
6 Signature Dynasty Sweepstakes Entry
Onyx Elite Reward

DraftKings Sports Bonus

Trying Out the DraftKings Bonus

DraftKings mobile sports betting
Easy to use interface
DraftKings betting odds boost
Covers great tournaments

DraftKings has a great free bets bonus if you win or lose your first bet welcome bonus, a points-based welcome bonus, and many top odds/profit boost tokens available on a daily basis. In short, there’s something for everyone. Hearing about these great bonuses and knowing how they actually play out, however, are two different things. Naturally, we had to test out at least one of those bonuses for ourselves.

Reality Test: How Does the Welcome Bonus Hold Up?

We tested out the free bet welcome bonus on DraftKings, to give you our personal opinion on how good the bonus was overall. We found the sign-up process to be relatively smooth, and we enjoyed depositing just $5 rather than a higher value which can be found on other betting bonuses. Per the bonus’ rules, we placed that $5 on a qualifying bet. When our bet lost, we got six $25 bet credits as promised in our bonus wallet by the end of the day, so there were no surprises there.

Placing a free bet was also very easy, thanks to the pop-up bet slip that shows up on the bottom of the page – it was always easily available. We made sure to use the drop-down menu to make sure we were using the bed credit, and not our own funds. We placed that second bet on much more likely odds, and did win a small sum when they all settled and the original stakes were removed. Overall, we found this bonus fair and easy to use.

Withdrawing the DraftKings Promo Code Wins

All we needed to do to clear the wagering requirements was place six $25 bets in 7 days. Since there were no restrictions on which odds or sports we could bet on, we did this easily within a day. The next step, of course, is to withdraw the winnings. The stake was returned, and the winnings on top of that stake were deposited into our account instantly.

Before you plan to withdraw your winnings, know that you can only withdraw after verifying your identity. We did have to use the same payment method we used for the deposit. We also found that the withdrawal process took longer on DraftKings’ end. We used a debit card, and it took about a day for our request to be processed and deposited into our account.

What to Avoid When Claiming the DraftKings Bonus Codes

As with any bonus, there are pitfalls in the terms and conditions and other issues that you need to be aware of before you claim the bonus.

  • Withdrawals are Processed During Work Hours: If you try to withdraw your winnings outside of the 9 to 5 EST period, you will need to wait longer.
  • You Don’t Need to Use the DraftKings Bonus Codes: While you can use a DraftKings bonus code, you can also just use the link. There’s no difference, so don’t waste your time trying to find them.
  • You Must Wager Bonus Bets and DK Dollars: Both free bet credits and DK dollars must be wagered to convert them into funds. You may think that DK dollars are yours after you unlock, but you still need to bet with the first.

Our Verdict on the DraftKings Welcome Bonus

Overall, we did enjoy using the welcome bonus. The requirements were minimal for the free bet bonus, and we didn’t need to use a lot of funds to claim it and then use the free bet token we received. Considering there’s also a separate welcome bonus that appeals to high rollers, we believe that the available bonuses do offer something to appeal to all types of bettors, so go and check out the site to see it first-hand.

DraftKings
Sports Bonus
20% up to $1000
T&Cs apply, 21+
Play Now
PayPal
VIP Preferred
Play+
Discover
+6

The DraftKings Bonus Roundup

The available DraftsKings bonus offers something different. The two different welcome bonuses that allow both casual bettors (the bet-and-get free bet credits bonus) and high rollers (the playthrough bonus) means there’s something for everyone. Plus, you have many ongoing bonuses that change out on a daily basis, keeping your options fresh and relevant to the big games going on that day. With so many options and a big VIP tier program available, there’s something for every kind of bettor. If you find that the bonuses work for your play style and budget, then all that’s left is to try it out for yourself.

DraftKings
Sports Bonus
20% up to $1000
T&Cs apply, 21+
Play Now
PayPal
VIP Preferred
Play+
Discover
+6

DraftKings Promo Code FAQs

🚀 How do I apply the profit boost token?

To apply the profit boost or odds boost tokens, you need to go to the bet slip, choose your selections, and then apply which boosts you want to add before placing the bet.

💸 Can I cash out early when using a boost token?

No, trying to cash out early with either the odds or profit boost tokens will void the bonus. You will still get your early cash out amount, but it won’t be boosted.

🤔 Are DK Dollars real money?

No, DK dollars are DraftKings money that can be used to place bets. If you win with a bet placed with DK dollars, then you’d receive the amount in cash (stake + winnings).

❓Should I choose the free bet bonus or the playthrough bonus?

It depends on your play style and bankroll. If you are a high roller, you may find more value in the playthrough bonus that gives you up to $1000 DK dollars. If you are a casual player, you’ll likely prefer the free no-sweat bet.

👇 Can I drop tiers in the VIP program?

Yes, if you do not continue to place wagers on DraftKings regularly, you will drop in tiers. That being said, you’ll keep your VIP tier for a year guaranteed after rising to a new level,.

Related Content

Operator Review
Looking for an in-depth DraftKings review that dives into absolutely ...
Written by James Leeland