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DraftKings Promo Code 2024: How to Unlock Deposit Bonuses and Rewards

Get the DraftKings $1000 Promo Code for 2024

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It’s a breeze to sign up at DraftKings, and as a new sports bettor, you’re in for a treat with their “no sweat bet” offer. If your first bet doesn’t win, you’ll get your stake back in bonus bets up to $1,000.

It’s an awesome way to kick off your betting journey, and in this guide, I’m going to walk you through everything you need to know about this bonus – including steps on how to claim it and some pro tips to make the most of it.

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0 – 5 Days
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DraftKings Ltd
Founded
2012
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sportsbook.draftkings.com
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Mastercard instant 1 - 3 days high
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Venmo instant 1 - 3 days some
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Last Updated on 05.07.2024
Fact checked by: Emily Carter

An overview of the DraftKings signup bonus

When you sign up at any of the legal sports betting sites I recommend, you’re in for some sweet bonus deals. Right off the bat, you can claim a welcome bonus. These welcome deals vary, but a lot of times, you’ll see a deposit match bonus. This means they’ll match your first deposit up to a certain percentage. But let me tell you, one of the best types of welcome bonuses has got to be bet insurance offers.

With bet insurance, if your first bet doesn’t win, you’ll get your money back up to a specific limit. The catch? These offers are kinda rare. But don’t lose hope! Take DraftKings, for example. They offer a deal that can go as high as $1,000. It’s just a fancy way of saying if your first bet loses, you get a second chance with a bonus bet worth up to $1,000. I find this DraftKings deposit bonus to be pretty impressive.

DraftKings has launched a fantastic March Madness bonus offer for all new players. The Promotion is valid from March 1 at 12:00:00 AM Eastern Time (ET) to March 24 at 11:59:59 PM Eastern Time (ET). You Must be physically located in CT, MI, NJ, PA, WV, or CA-ONT to be eligible. Customers must opt-in within 7 days (168 hours) of registering a new account.

You Must deposit a minimum of $5 within 7 days (168 hours) of opting in to earn a 100% deposit match bonus, up to $100 in Casino Credits eligible on select DraftKings Casino games. Casino Credits are single-use, have no cash value, are not withdrawable, must be wagered 1x before any resulting cash winnings can be withdrawn, and expire 7 days (168 hours) after being awarded.

How to claim the DraftKings signup bonus: A step-by-step guide

Claiming the DraftKings signup bonus is a breeze, and honestly, it’s no shocker since DraftKings is such a big name in the sports betting scene. Every step, right from signing up and making your first deposit, to claiming and using the bonus, has clearly been designed with the user in mind. Here’s a quick guide to get you started.

  1. Head on over to DraftKings sportsbook through one of the direct links on this page. Once there, look for the green ‘Login’ button at the top and click it. Then, hit the ‘Sign Up’ button on the login screen to pop open the registration form.
  2. Fill in the form with your email, phone number, and your pick for an email and password. You’ll see a spot for a promo code, but you can skip that – you don’t need a DraftKings sportsbook promo code for this bonus.
  3. After your account is set up, log in with your new account details. Head over to the ‘Promos’ page from the main menu and look for the “no sweat bet” up to $1,000′. Click the green ‘Deposit’ button to opt-in and then deposit at least $5 into your account. This is a pretty low minimum deposit compared to other offers out there.
  4. Now for the fun part – making your first bet. All you have to do is bet at least $1 on an available market on DraftKings. If you win, you pocket the winnings. If not, you’re covered with a refund in bonus bets, maxing out at $1,000.

How to use the DraftKings deposit bonus bets

Alright, let’s say your first bet didn’t pan out. No worries, you’ll get a bonus bet token that can be as much as $1,000. Now, the fine print says it might take up to 24 hours for this bonus bet to hit your account, but in my experience, it usually shows up way faster. I’m talking almost instantly, right after your initial bet settles.

Once you’ve got your bonus bet, you’re free to use it across a ton of sports and betting markets at DraftKings, which is pretty cool. But here’s what you should keep in mind: if you win using that bonus bet, you only pocket the winnings, not the stake. For example, if you use a $100 bonus bet on a bet with +100 odds and win, your total would normally be $200. But since the $100 stake was a bonus token, you only get to keep the $100 winnings as real, withdrawable cash.

Yeah, it’s a bit of a bummer not getting the stake back too, but that’s pretty standard across the board with these types of bonuses. The silver lining? There’s no cap on how much you can win with your bonus bet. This feature makes the DraftKings signup offer stand out from other welcome offers out there.

Some key terms and conditions to be aware of

This bonus is really straightforward and user-friendly, but like all bonuses, there are a couple of important terms to remember. One key point is the seven-day limit on using your bonus token. Once it’s added to your account, you’ve got a week to use it or you’ll lose it.

Sure, a week might seem short compared to some other offers out there that give you 30 days, but here’s the kicker: the wagering requirement for this bonus is just 1x. That’s about as good as it gets. It means any money you win with your bonus bet can be cashed out right away or you can roll it into more bets – your choice. Honestly, these terms are pretty fair. The low wagering requirement and the reasonable time frame to use it make this a deal worth claiming.

Eligibility requirements: No DraftKings bonus code is needed

Before diving in, let’s make sure you’re in the clear to claim it. First up, you’ve got to be of legal betting age. That’s 21+ in most places, but 18+ in KY or WY. Also, you need to be in a state where DraftKings is legal. Good news is, DraftKings is licensed in a ton of states where online sports betting is legal. This includes the following:

  • Arizona (AZ)
  • Colorado (CO)
  • Connecticut (CT)
  • Iowa (IA)
  • Illinois (IL)
  • Indiana (IN)
  • Kansas (KS)
  • Kentucky (KY)
  • Louisiana (LA) – only in certain areas
  • Massachusetts (MA)
  • Maryland (MD)
  • Maine (ME)
  • Michigan (MI)
  • New Jersey (NJ)
  • New York (NY)
  • Ohio (OH)
  • Pennsylvania (PA)
  • Tennessee (TN)
  • Virginia (VA)
  • Vermont (VT)
  • West Virginia (WV)
  • Wyoming (WY)

If you’re above the legal gambling age and located in one of these states, you’re all good to sign up and claim the DraftKings deposit bonus. Just a heads-up, if you’ve already got a DraftKings account but haven’t put any money in it yet, you’re still in the running for this offer.

Bonus offer comparison

Check the table below to see how the DraftKings offer compare to its closest rivals. Please note that the region in which you live can have an affect the sites shown on the table and whether the table shows at all. If sports betting is not legal in your state, you may be able to find a suitable Daily Fantasy Sports site instead.

Tips to help you maximize the DraftKings sign-up offer

Grabbing the bonus is a piece of cake, but the real trick is using it smartly to maximize its benefits. Let’s dive into some tips to help you do exactly that.

Take things one step at a time

DraftKings is awesome because it offers a ton of bonuses and promos. However, don’t try to grab everything all at once. When you sign up, you might be tempted to pick any promo that catches your eye, but it’s best to kick things off with the welcome bonus. Claiming a different promo first means you’ll miss out on the welcome offer, and that handy $1,000 bet insurance. So, take things one step at a time or you’ll miss out.

Remember to opt in

To claim the welcome bonus, remember you have to opt-in to actually get it. No need for a DraftKings promo code or anything. Just go to the “Promos” page and click on the bonus to opt in. If you make your first deposit without opting in, you’ll kiss that offer goodbye. So, make sure you do this before you deposit.

Check the fixtures

While it’s tempting to dive right in, playing the waiting game can be a smart move. You’ll have a week to use your bonus bet token after it lands in your account. So, it’s best to check the fixtures beforehand.

If there’s a game you’ve got your eye on what’s happening in 10 days, you might want to hold off on signing up for a bit. That way, you can ensure you’re all set to place your bet on something you’re genuinely excited about.

Bet on an underdog

Of course, throwing your bet on an underdog is a gamble. But here’s the upside: the potential win is way bigger compared to betting on the favorite. So if you’re eyeing an underdog, why not use your free bet token on it?

This way, you’re not dipping into your own pocket, but you still get a shot at the payout if your underdog pulls off a win. It’s a smart way to cut down the risk associated with betting on positive odds.

Manage your expectations

The insurance bet serves as a safety net by giving you a bonus bet token if your first bet loses. But, let’s keep it real—it’s not totally without risk. You’ve got to use that bonus token on another bet before you can cash out any winnings. So, there’s still a chance that you might not win anything.

Additional DraftKings bonuses and promos

Thought the DraftKings welcome bonus was the end of the road? Think again! After you’ve made the most of your welcome bonus, just swing by the “Promos” page. Over there, you’ll stumble upon a bunch of cool reload offers waiting for you. We’re talking profit boosts, same-game parlay insurance, and even more “Bet and Get” deals. And guess what? These offers are always changing, so you’ve got something new and exciting to look forward to all the time. Make sure to keep an eye on the “Promos” page to catch the latest deals.

I went ahead and claimed some of these extra bonuses for myself, and let me tell you, the activation process is a breeze. They’re pretty much like the signup bonus—easy to claim by opting in on the “Promos” page, no need for any special DraftKings promo codes. And the cherry on top? The terms and conditions are super fair. All of these sports betting bonus types are explained in detail in the terms and conditions, which often include low wagering requirements and no restrictions on the amount you can win.

Dynasty Rewards: Get rewarded for your loyalty

Check this out – besides all the regular bonuses found on the “Promos” page, DraftKings really steps it up with its own special rewards program, making it stand out from the crowd. It’s called the Dynasty Rewards program, and it’s your ticket to getting Crowns and Tier Credits for just about anything you do in DraftKings sportsbook. Let’s dive into how you can rack up those crowns and credits:

  • Crowns: For every $2 you bet on DraftKings’ online sportsbook, you get one Crown.
  • Credits: You get credits for making real bets with odds of -1000 or higher.

You can redeem those crowns for cool stuff like gift cards, merchandise, or even some once-in-a-lifetime experiences. And those credits? They’re what you use to climb the ranks in the rewards program. The higher you go, the better the benefits and rewards you will receive. I found that many of the best sportsbook promotions can be accessed through this program, so it’s well worth trying to climb the levels.

Refer a friend for even more rewards

Found yourself loving DraftKings? Why keep it to yourself? Spread the love with their refer-a-friend program. Grab your unique referral link and share it with your friends through email, text, Twitter, or Facebook.

They’ve even hooked you up with a QR code for easy sign-ups – just let your friends scan it to join via your link. The best part? When your pals sign up and make a deposit using your link, both of you receive a reward. Talk about a win-win situation!

The new DraftKings deposit bonus

If you’re new to DraftKings and haven’t created an account yet, you’re in for a treat. With the DraftKings signup bonus, if your first bet doesn’t win, they’ve got your back with a refund. You can get up to $1,000 back in bonus bets. Pretty cool to have that kind of back up, right?

Testing the DraftKings signup bonus

I gave the bonus a whirl during my DraftKings review, and here’s what I found: it’s super easy to claim and use. First up, you need to sign up from a state where DraftKings is legal. Then, head over to the promotions page and hit the opt-in button. No DraftKings bonus code is needed. Drop at least $5 into your account, and place a real money bet of $1 or more on whatever catches your eye in the DraftKings sportsbook.

After your bet’s in, just wait for the outcome. If you win, awesome, you get your winnings as usual. But if your bet doesn’t pan out, you’re covered with a refund. You’ll get 100% of your bet back in bonus bets, up to a cool $1,000. It’s a solid backup to have. If your bet loses, you’ll see those bonus bets in your account within 24 hours. If there are technical difficulties, it might take up to 72 hours, but that’s rare.

The bonus bet winnings are yours to keep

One of the best parts about the DraftKings signup bonus? No strings attached when it comes to your bonus bet winnings. That means whatever you win is yours to keep, straight up. But, there’s a catch you should remember: you can’t withdraw the bonus bet itself, only the winnings from it. So, let’s say you place a $100 bonus bet on odds of +100. If you win, you pocket $100 in real cash that you can withdraw, not $200. This is because the original $100 stake is bonus money, not cash.

Important things to keep in mind

Overall, this bonus is straightforward and user-friendly. With a simple activation process and the freedom to use the bonus bets on any market available at DraftKings sportsbook, there’s a slim chance you’ll run into many problems.

However, there are a couple of things you’ll want to steer clear of to keep things smooth. Remember that your bonus bets will disappear after seven days if you haven’t used them. Also, don’t forget to opt in for the bonus before you make your first deposit. If you skip this step and your first bet doesn’t win, you’ll miss out on those bonus bets.

Final thoughts on the DraftKings signup offer

Just when you thought the DraftKings signup bonuses couldn’t get any better, they introduced this all-new bet insurance offer. It’s super accessible with just a $5 minimum deposit and a mere $1 minimum for your first bet, making it a great option if you’re watching your spending.

Plus, with the potential to grab up to $1,000 in bonus bets, it’s also a fantastic option if you’re ready to go big. The cherry on top? You can use those bonus bets on any market in the DraftKings sportsbook, letting you play it your way no matter your betting style. If you haven’t signed up yet, now’s the time. No need for a DraftKings bonus code, but don’t forget to opt-in manually on the promos page.

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DraftKings signup bonus conclusion

The DraftKings signup bonus is a sweet deal that means you’re able to get off to a strong start as a new bettor. It’s like having a safety net right there to catch you if your first bet doesn’t go as planned.

The best part? There are no wagering requirements on the winnings, so anything you make from the bonus bets is yours to keep. By following the steps laid out in this guide and keeping my tips in mind, you’re setting yourself up for a smooth and potentially rewarding betting experience.

So, go ahead, claim your signup bonus, and dive into the world of sports betting with DraftKings. Just remember that while you do not need a DraftKings sportsbook bonus code, you will have to manually opt-in before making a deposit.

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DraftKings bonus code FAQ

❓ Why didn't I get my insurance bet at DraftKings?

Here’s the deal: to claim the DK “no sweat bet” promotion, your first bet needs to lose. If you win, you’ll just get the regular winnings, no bonus bets. But, if your bet loses and you still don’t see the bonus bets in your account, hang tight because it might take up to 72 hours. If it’s been more than a few days and still nothing, it’s time to hit up customer support for some help.

🎁 How do I qualify for the DraftKings signup bonus?

To qualify for the DraftKings signup bonus, you need to be a new user, of legal betting age (21+ in most states, 18+ in KY or WY), and located in a state where DraftKings operates legally. Simply sign up, make a minimum deposit of $5, and place your first bet. No DraftKings promo code is required; just opt-in for the “no sweat bet” offer on the Promos page.

💰 Can I withdraw the DraftKings signup bonus bet as cash?

No, the bonus bet itself cannot be withdrawn as cash. If you win a bet using the bonus bet, you will receive the winnings minus the stake of the bonus bet. For example, if you use a $100 bonus bet on a bet with +100 odds, you’ll get $100 in real, withdrawable cash, not $200, since the original $100 stake was a bonus bet.

👀 Do I need a DraftKings bonus code?

No, you don’t need a DraftKings bonus code to claim the signup bonus. The process is straightforward and designed to be hassle-free. Simply sign up for a new account, opt-in for the “no sweat bet” offer on the Promos page, and make your first real money wager. If it loses, you get your stake back in bonus bets up to $1,000.

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DraftKings Bonus Details
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Type: Welcome Bonus
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Min. Deposit: 5
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