DraftKings Promo Code: Bet $5, Get $150 in Bonus Bets

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Rating: 4.5 out of 5.

✅ Exclusive $50 bonus bet with first deposit


✅ Bet $5, Get $150 in bonus bets


✅ 20% deposit match up to $1,000


✅ Plus, daily promos for all users


BET $5, GET $150 INSTANTLY

Register for a new sports bettor account with DraftKings and claim up to $150 in bonus bets for or $300 in select states. Plus, get a $50 bonus bet instantly with your first deposit. You do not need a DraftKings promo code to take advantage of this offer. We break down how the DraftKings promo works, terms and conditions, and promos for existing users here.

Claim Your $1,200 Bonus at DraftKings Sportsbook
1
Up to $1,200 BONUS
New User Bonus. T&Cs Apply
Bet $5, Get $150 Instantly!
PLUS up to $1,000 Deposit Bonus
PLUS $50 Bonus Bet on Deposit
Gambling Problem? Call 1-800-GAMBLER 

DraftKings promo code summary

Sign-up bonus
(see T&Cs)
Bet $5 and get $150
Sign-up bonus
(See T&Cs)
Bet $5 and get $300
Deposit bonusGet $50 bonus bet with any first deposit
Match bonus20% match up to $1,000
Minimum wager$5
Minimum deposit$5
Bet exclusionsNone on sign-up bonus
Available forNew users
Expiry dateAug. 18, 2024

Terms and conditions

The DraftKings “Bet $5, Get $150” welcome bonus is available to all new users, with a limit of one bonus offer per customer. Here are the key terms and conditions to know when signing up and claiming the sportsbook bonus:

How to claim the DraftKings promo code

Claiming the welcome bonus at DraftKings is straightforward. Here are our step-by-step instructions for getting started with the DraftKings sign-up promo.

Compare all DraftKings promos for new players

Bet $5, Get $150 instantly promo

The DraftKings Sportsbook “Bet $5, Get $150” gives you $150 in bonus bets when you sign up, deposit $5, and make any $5 real money bet. The bonus is awarded as six $25 bonus bets, which must be wagered within the DraftKings Sportsbook in seven days.

This bonus is available for all new DraftKings sports bettors who sign up during the promotional period (until Aug. 18, 2024, at 11:59 p.m. ET). You don’t need a DraftKings promo code to receive the bonus. The code is optional and not required.

Tip for new bettors: In our experience, this is one of the best offers for sports bettors, and here’s why: The $150 in bonus bets are unlocked with any $5 real money wager, with no excluded markets or minimum odds. This has a 30x return on investment. It’s awarded win or lose, so receiving the $150 bonus bet return is not difficult.

Exclusive $50 deposit bonus

DraftKings Sportsbook also runs an exclusive $150 deposit bonus exclusively for LegalSportsReport readers. When you join from LegalSportsReport and register for an account, you’ll collect a $150 bonus bets as soon as you make an initial deposit of $5 or more.

You don’t need a DraftKings Sportsbook promo code for this offer either, but remember that it can only be activated when you sign up with one of our exclusive bonus links. The $150 bonus bet cannot be withdrawn from your account. It must be wagered and will expire after seven days if unused.

Tip for new bettors: This exclusive offer pairs incredibly well with the Bet $5, Get $150 offer. When you make a $5 deposit and wager, you’ll secure both offers simultaneously, boosting the total bonus to $200 in bonus bets. The extra $50 is not available anywhere else, including DraftKings.

$300 bonus bets instantly (IA, IL, LA, MI, NC, NJ, OH, PA, VT, and WY only)

In some states, the Bet $5, Get $150 is replaced with a different bonus offer worth up to $300 in bonus bets. This offer is valid for new players in Iowa, Illinois, Louisiana, Michigan, North Carolina, New Jersey, Ohio, Pennsylvania, Vermont and Wyoming. It also requires a $5 minimum deposit and doesn’t need a DraftKings promo code.

In these states, the bonus amount awarded depends on the size of your first wager. If you bet $5, you’ll be issued the standard $150 in bonus bets. If you bet $10 or more, the bonus amount rises to $200. If you bet $50 or more, you’ll receive the maximum $300 in bonus bets.

This bonus is available to new DraftKings Sportsbook users in participating legal states and expires on July 21, 2024, at 11:59 p.m. ET. Bonus bets expire seven days after they are issued and cannot be withdrawn from your account.

Tip for new bettors: Check first whether this upgraded offer is available in your state. If you increase your initial deposit and first bet to $10, you’ll receive an additional $100, which includes the exclusive $50 bonus we offer new sports bettors.

20% deposit match up to $1,000

The largest of the available DraftKings bonus offers (by dollar value) is good for up to $1,000 in bonus bets when you make your first deposit. Register, deposit $5 or more, and DraftKings will credit your account with bonus bets worth 20% of your deposit. To claim the maximum $1,000 in bonus bets, you would need to make a $5,000 deposit.

As with the other DraftKings offers, you need to use the links on this page to claim. The promo code is optional and does not secure your bonus bets. This bonus is available until June 30th, 2024, at 11:59 p.m. ET.

Bonus funds received through this promotion have a 25x playthrough requirement attached, meaning $1 of bonus funds is released for every $25 wagered on the DraftKings site. You have 90 days to meet the playthrough requirement on this bonus.

This promotion is not available for sports bettors in Massachusetts.

Tip for new bettors: Keep an eye on the terms and conditions. Because of the 20% matching rate and 25x playthrough requirement, unlocking the full $1,000 requires a $5,000 deposit and $25,000 worth of wagers. We believe this offer to be more complex and unattainable for the average sports bettor.

Compare bonus offers from top sportsbooks

DraftKings is one of a handful of online sportsbooks rolling out a welcome bonus for new players this month. With so many to choose from, comparing them has never been more important. Here’s a breakdown of how the top 5 bonuses stack up in July. Based on the data below, we found DraftKings to have the best sportsbook bonus for new bettors with smaller budgets.

Online sportsbookDraftKingsFanDuelCaesarsBetMGMBet365
Welcome bonusBet $5, Get $150 + $50 Deposit BonusBet $5, Get $200 if your bet winsFirst bet insurance up to $1,000First bet insurance up to $1,500Bet $5, Get $150 in bonus bets
Promo codeNone neededNone neededLSR1000PLAYLSRLSRCO
Minimum Deposit$5$10$10$10$10
Bonus typeBonus bets (six $25 bonus bet tokens, one $50 bonus bet token)Bonus betsSingle bonus betUp to five bonus betsBonus bets
Wagering periodQualifying wager must be placed prior to 11:59 p.m. ET on 8/18/24Qualifying wager must be placed prior to 11:59 p.m. ET on 7/28/24Qualifying wager must be placed within 30 days of account openingQualifying wager must be placed prior to 11:59 p.m. ET on 12/31/2024Qualifying wager must be placed within 30 days of account opening
Bonus bet expirationSeven daysSeven days14 daysSeven daysSeven days
LSR Rating4.8/54.5/54.5/54.7/64.6/6

Eligibility and requirements for promotional offers

DraftKings welcome bonuses are available to new players who are 21 or older and physically located in states where DraftKings is licensed to operate. DraftKings is currently operational in AZ, CO, CT, IA, IL, IN, KS, KY, LA (select parishes only), MA, MD, ME, MI, NC, NH, NJ, NY, OH, OR, PA, TN, VA, VT, WY or WV. Note that the legal age to sign up is 18 in KY, NH, and WY.

We found that some bonuses were limited or altered in particular states, and we recommend that you read the terms and conditions before you opt-in.

How bonus bets work

Any bonus bets you receive at DraftKings are under the “My Rewards” tab. Here are the most important considerations you need to consider with bonus bets.

DraftKings restrictions on promos

Each of the DraftKings welcome bonuses comes with limits and restrictions. The best available offer is the $50 and $150 bonus. Here’s what you need to know about each of the bonuses.

DraftKings welcome bonusAvailable in all DraftKings states?Playthrough requirementMinimum depositMinimum wagerMinimum odds requirement?Expiration period
$50 Deposit BonusYes1x$5NoneNoSeven days
Bet $5, Get $150Except IA, IL, LA, MI, NC, NJ, OH, PA, VT, and WY1x$5$5NoSeven days
Bet and Get up to $300Only IA, IL, LA, MI, NC, NJ, OH, PA, VT, and WY1x$5$5NoSeven days
20% Deposit Match up to $1,000All except MA25x$5NoneNo90 days to meet playthrough

DraftKings promotions for existing users

DraftKings offers several daily and rotating promotions for new and existing users. Below is a short list of existing promos, which we update daily.

DraftKings Casino promo

The DraftKings Casino bonus for new players is worth up to $135 in casino credits. Sign up and deposit $5, and you’ll be instantly rewarded with $35 in casino credit. Then, when you wager $1, you’ll receive another $100 in casino credit. Below are the terms and conditions:

DraftKings DFS promo

The current bonus offer at DraftKings DFS is worth up to $520 in site credit. You’ll get your first deposit matched at a rate of 20% up to $500, plus you’ll get an additional $20 in Free Play automatically. Here are the terms and conditions:

DK Horse promo

A DK Horse bonus is currently available for new users if you’re looking to bet on horse racing at DraftKings. The bonus comes in the form of a 100% deposit match up to $250. We advise players to read the terms and conditions below for more information on how to sign up and claim the bonus with DK Horse:

Important to note: Only one promo is available for each new user at DK Horse. That means that the 100% deposit match will apply only to your first deposit. Make sure you take full advantage the first time you add funds to your new DK Horse account.

DraftKings Sportsbook strengths and weaknesses

DraftKings consistently ranks as one of our top sportsbook options, but there are always areas where sportsbooks can improve. Here’s a quick look at the overall strengths and weaknesses at DraftKings. The app is rated as one of the best, but the deposit bonus is on the low end.

Strengths

Bonuses and promotions | DraftKings offers exceptional promotions for new and returning players, with the highlight being the $1,000 bonus bet. This is the best promo currently running at any online sportsbook.

Market coverage | There’s never a dull moment at DraftKings, thanks to its unparalleled selection of betting markets, from top US leagues to niche international sports. You can also find an industry-leading selection of props, parlay options, and live bets.

Mobile app | The user experience at DraftKings is one of the very best out there, with a sleek, state-of-the-art interface that has rightfully garnered hundreds of thousands of positive reviews from both iOS and Android users. If you bet primarily on a tablet or smartphone, DraftKings is an ideal option.

Weaknesses

Promotion limits & conditions | We frequently see low limits on promos (e.g., max bets of $5 or $10), plus minimum odds requirements, playthrough requirements, and other annoying strings that can diminish the returns of each bonus.

Deposit match bonus difficulty | We don’t believe the deposit match bonus is as valuable as other bonuses from DraftKings or competitors. First, it’s a 20% match rather than a 100% match. Second, a sky-high 25x playthrough requirement is attached to the matching funds. That means that if you wanted to turn your first deposit into $1,000 of withdrawable bonus funds, you’d need to deposit $5,000 and then wager in $25,000 in real money. This is not possible for most sports bettors.

Where is DraftKings legal?

DraftKings Sportsbook is now legal in 25 US states plus Washington, DC. The states where it is legal include: 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, Wyoming and Washington, DC.

StateWelcome BonusPartnerLaunch Date
ArizonaUp to $1,200TPC ScottsdaleSeptember 2021
ColoradoUp to $1,200Mardi Gras CasinoMay 2020
ConnecticutUp to $1,200Foxwood Resort CasinoOctober 2021
IllinoisUp to $1,350Casino QueenAugust 2020
IndianaUp to $1,200Ameristar Casino HotelOctober 2020
IowaUp to $1,350Wild Rose CasinosFebruary 2020
KansasUp to $1,200Boot Hill CasinoSeptember 2022
KentuckyUp to $1,200Cumberland Run RacetrackSeptember 2023
LouisianaUp to $1,350Golden Nugget CasinoJanuary 2022
MaineUp to $1,200Passamaquoddy TribeNovember 2023
MarylandUp to $1,200Timonium RacetrackNovember 2022
MassachusettsUp to $250N/AMarch 10, 2023
MichiganUp to $1,350Bay Mills Resort & CasinoJanuary 2021
New HampshireUp to $1,200N/ADecember 2019
New JerseyUp to $1,350Resorts CasinoAugust 2018
New YorkUp to $1,200del Lago Casino and ResortJanuary 2022
North CarolinaUp to $1,350NASCARMarch 11, 2024
OhioUp to $1,350Hollywood CasinoJanuary 1, 2023
PennsylvaniaUp to $1,350Meadows CasinoNovember 2019
TennesseeUp to $1,200Online OnlyNovember 2020
VermontUp to $1,350Online OnlyJanuary 11, 2024
VirginiaUp to $1,200Online OnlyJanuary 2021
West VirginiaUp to $1,200Hollywood Casino at Charles Town RacesSeptember 2018
WyomingUp to $1,350N/ASeptember 2021

DraftKings in the news

More sportsbooks like DraftKings

When it comes to a robust welcome bonus, DraftKings Sportsbook is the #1 app on the market. However, that doesn’t mean it’s the only one. Here’s our list of in-depth sportsbook promo reviews that we also consider worth claiming:

FAQs

How does the DraftKings welcome bonus work?

The DraftKings welcome bonus gives you a $50 bonus bet when you sign up and deposit $5 and an additional $150 in bonus bets (in the form of six $25 bonus bets) when you wager $5 or more.

What is the DraftKings promo code?

There is no promo code needed to claim the bonus at DraftKings. Sign up using one of the exclusive bonus code links on this page, and you’ll qualify for the bonus automatically.

How do I opt into DraftKings promos?

To opt into DraftKings promos, head to the “Promos” tab on the site or app. Select the promo you want to use, then click the opt-in button to activate it. Ensure you meet any additional deposit or wagering requirements and fulfill all the terms and conditions to receive the bonus. We have reviewed the T&Cs in-depth and will update them as offers change. You can learn more here.

Does DraftKings offer a no-deposit welcome bonus?

No. However, for a $5 deposit, you can unlock a $50 bonus. Then, a $5 wager unlocks an additional $150 in bonus bets. This means you can get a bonus of $200 for as little as $5.

Can I claim more than one DraftKings sign-up bonus?

No, you cannot combine the bonus offers at DraftKings Sportsbook with any of the other offers from the casino, DFS site, or racing app. The promos are limited to one promo per new account. You must not have an existing DraftKings account.
 
You can claim multiple offers under one product. For example, you can claim all three parts of the DraftKings Sportsbook bonus, valued at $1,200. However, you could not combine it with the DraftKings DFS $520 offer.

Where do I enter a promo code on the DraftKings app?

You don’t need to enter a DraftKings promo code at any point during the registration process. This field is optional, as noted in the registration form. When prompted for a code, you can leave that box blank. This will not affect your eligibility for any bonuses listed on this page.