TOP DRAFTKINGS PROMOS, CODES & BONUSES: DECEMBER 2024

1. Which Types of Sportsbook Promos Does DraftKings Offer?

DraftKings offers a wide range of promos and bonuses to both new and existing customers across the US each month. Nine of the most common include:

1. bonus bets: With a bonus bet, DraftKings will gift you bonus site credit after you place a bet as a reward. This is the most common form of welcome bonus.
   
   For Example: Bet $5 and receive a $150 bonus bet. 
   
   Also Known As: Bonus bets, "bet x get x" offers, free plays, bonus credits.
   
   
   
2. No Sweat Bets: With No Sweat Bets, DraftKings will refund your stake if your bet loses (usually in the form of a bonus bet).
   
   For Example: DraftKings is offering a $100 risk bonus bet. If you wager $100 and win, you take the winnings. If you lose, you are refunded your $100 as a bonus bet. 
   
   Also Known As: No sweat bets, second chance bets, first bet insurance.
   
   
   
3. Deposit Bonuses: With a deposit bonus, DraftKings will offer an additional percentage bonus on top of your initial deposit amount.
   
   For Example: If the offer is a 50% deposit bonus and you deposit $100, DraftKings will offer you an extra $50. 
   
   Also Known As: Deposit Matches.
   
   
   
4. No Deposit Bonuses: As the name suggests, no deposit bonuses don't require a deposit to be gifted.
   
   For Example: With a $300 no deposit bonus, after you sign up, DraftKings will immediately fund your account with $300 (usually in the form of a bonus bet). 
   
   Also Known As: No deposit cash.
   
   
   
5. Reload Offers: Unlike welcome bonuses, reload offers are promos that can be offered to users at any time, rather than just once they've signed up. They can come in many forms, from bonus bets to enhanced odds. 
   
   For Example: Bet at least $10 every week of the Wimbledon tournament and receive a $50 bonus bet for the final. 
   
   Also Known As: Reload bonuses, ongoing offers.
   
   
   
6. Profit Boosts: Profit boosts provide a percentage increase to a person’s profits on a wager should they win.
   
   For example: If DraftKings adds a 50% profit boost to a game and you earn $100 profit from it, the sportsbook will up your profit to $150. 
   
   Also Known As: Cash boosts.
   
   
   
7. Odds Boosts: With odds boosts, DraftKings enhances the odds on a certain bet (usually a prop bet). This enables bettors to earn higher winnings from the same stake. 
   
   For Example: Houston Astros & Colorado Rockies both to win, was +190, now 240+. 
   
   Also Known As: Enhanced odds, price boosts. 
   
   
   
8. Parlay Insurance: Users get their stake back as a bonus bet if one leg of their parlay bet loses.
   
   For Example: Place a 3+ leg same game parlay on any sport and if only one leg loses, get a refund in site credit (max $25).
   
   Also Known As: Parlay promo, parlay cover.
   
   
   
9. In-Play Bonuses: Bonuses for placing live, in-play bets during an event.
   
   For Example: Bet $50 in-play and receive a $20 bonus bet.
   
   Also Known As: Live bet bonuses.

2. Is DraftKings Legit?

DraftKings is a legitimate and well-established online sports betting and fantasy sports platform. It was founded in 2012 in Boston, Massachusetts, by Jason Robins, Matt Kalish, and Paul Liberman.

Starting as a daily fantasy sports provider, DraftKings expanded into the sportsbook market following the Supreme Court's 2018 decision to allow states to legalize sports betting.

The company is publicly traded on the NASDAQ under the ticker symbol DKNG and is licensed and regulated in several U.S. states, ensuring adherence to legal and security standards.

3. Which States is DraftKings Legal in?

As of 2024, DraftKings is legal in the following states:

4. Does DraftKings Offer Promos for New Users?

DraftKings offers a range of promos for new users, often referred to as welcome bonuses or signup bonuses.

Designed to attract new customers to the sportsbook, these promotions are typically the most generous offers available, and can vary widely from bonus bets (bonus bets) to deposit matches and No Sweat Bets.

To find the best sportsbook promos for new users, check out the top of this page where we've ranked, rated and reviewed DraftKings’ latest and most attractive offers.

5. Does DraftKings Offer Promos for Existing Users?

DraftKings also offers promos for existing users, often referred to as reload offers or ongoing offers. These promotions come in various forms from profit boosts to enhanced odds, and bonus bets.

Reload offers provide longer term value to regular bettors, helping them maximize their potential profits and continue to enjoy benefits and rewards beyond their initial signup.

If you’ve already used all of your welcome bonuses with DraftKings, check out how you can maximize the profits you make from reload offers here.

6. How Can I Claim DraftKings Promos and Codes?

1. Sign Up or Log In: Create an account on the DraftKings Sportsbook website or app, or log in if you already have one.
   
   
2. Check for Promos: Visit the "Promotions" section to view available offers. This can be found in the main menu or on the homepage.
   
   
3. Opt-In: Some promotions require you to opt-in. Click the "Opt-In" button on the specific promo page if needed.
   
   
4. Enter Promo Code (if applicable): If you have a promo code, enter it during the deposit process or as instructed on the promo page.
   
   
5. Deposit Funds: Many promotions require a minimum deposit. Follow the instructions to deposit the necessary amount.
   
   
6. Place a Qualifying Bet: Some promos may need you to place a bet on specific events or meet minimum odds requirements.
   
   
7. Receive Bonus: Once conditions are met, the bonus will be credited to your account, usually as bonus bets, deposit matches, or other rewards.

While this process of claiming promos is generally a pretty standard one, you can still end up risking your cash if you lose the bet you wager on.

However, there is one method you can follow when claiming promos that will guarantee you profit from your offer each and every time (see section 14). 

7. What Was DraftKings' Most Generous Promo Ever? 

DraftKings' most generous promotional offer ever is widely considered to be their "Free Million Dollar NFL Pick'Em" contest. Launched in 2018, this promotion allowed users to enter a free contest with a $1 million prize pool, with the top prize being $1 million for correctly predicting the outcomes of NFL games. 

This promotion attracted a significant number of participants due to its high-value prize and no entry fee, making it one of the most memorable and generous offers in DraftKings' history.

In terms of more accessible promos, DraftKings $1,500 risk bonus bet offer is one of the more generous welcome bonuses regularly offered by the sportsbook to new customers. 

8. How Good is the DraftKings VIP Program?

The DraftKings VIP Program, DraftKings Dynasty Rewards, is renowned for offering its most loyal and high-stakes players an elevated betting experience.

Designed to reward consistent and high-volume bettors, this program provides exclusive perks to enhance the overall sportsbook experience and retain top customers. But how good is it really?

Tiers & Requirements

The VIP Program is structured into different tiers, each with specific entry requirements and corresponding rewards. These tiers are generally based on a customer's 'tier credits' which are typically earned from a combination of betting volume, frequency and account standing.

The tier levels and typical credit requirements are listed below:

DraftKings VIP Benefits

• Customized Bonuses and Promotions: VIP members at DraftKings receive personalized offers crafted specifically for them.
  
  
• Dedicated VIP Manager: Every DraftKings VIP member is assigned a personal account manager or host.
  
  
• Tickets to Games and Matches: Enjoy tickets to major sports events, including NBA, MLB and NFL games.
  
  
• Access to Exclusive Events: Receive invitations to private events where you can mingle with fellow VIP members and players.
  
  
• Enhanced Referral Bonuses: As a VIP member, you can earn significantly more generous referral bonuses when you get your friends involved.
  
  
• Exclusive Land-Based Benefits: At DraftKings Casinos and Resorts, VIP members are treated to special rewards, benefits, and superior service.

9. What Sports and Leagues Can I Claim DraftKings Promos on?

DraftKings offers sportsbook promotions on a wide variety of sports and leagues.

Below are some examples of the sports and leagues they typically cover, along with some examples of sport/league-specific promotions:

Football (NFL and College Football)

• DraftKings NFL Promos:
  • No Sweat Bets: Place a bet on any NFL game, and if you lose, get a refund in the form of a bonus bet up to a certain amount.
  • Same Game Parlay: Enhanced odds or insurance on same-game parlays for NFL games.
    
    
• DraftKings College Football Promos:
  • Boosted Odds: Higher payout odds on specific college football matchups.
  • Parlay Insurance: Get a portion of your bet back if one leg of your college football parlay fails.
    
    

Basketball (NBA and College Basketball)

• DraftKings NBA Promos:
  • Deposit Bonus: Deposit a certain amount and get bonus funds to use on NBA games.
  • bonus bets: Place a bet on an NBA game and receive a bonus bet for future use, win or lose.
    
    
• DraftKings College Basketball Promos:
  • Bracket Challenges: Participate in bracket challenges with cash prizes during March Madness.
  • Live Bet Boosts: Increased odds on live bets for college basketball games.
    
    

Baseball (MLB)

• DraftKings MLB Promos:
  • Home Run Bonuses: Get bonus funds or bonus bets for each home run hit by your team in a game.
  • First Inning Insurance: Bet on the first inning result, and if you lose, get a refund in the form of a bonus bet.
    
    

Ice Hockey (NHL)

• DraftKings NHL Promos:
  • Overtime Insurance: Bet on an NHL game, and if it goes to overtime and your team loses, get your bet refunded as a bonus bet.
  • Goal Scorer Bonuses: Place a bet on a player to score. If they score multiple goals, receive additional bonuses.
    
    

Soccer (MLS, EPL, Champions League, etc.)

• DraftKings Soccer Promos:
  • Goal Insurance: Bet on a team to win, and if they score first but lose the match, get your bet back as a bonus bet.
  • Parlay Boosts: Enhanced odds on soccer parlays involving multiple matches or leagues.
    
    

Golf (PGA Tour)

• DraftKings PGA Promos:
  • Top Finish Bonuses: Bet on a golfer to win, and if they finish in the top 5, 10 or 20, receive bonus funds or bonus bets.
  • Hole-in-One Insurance: Bet on a tournament and if a player makes a hole-in-one, get a portion of your bet back as a bonus bet.
    
    

Mixed Martial Arts (UFC)

• DraftKings UFC Promos:
  • Knockout Bonuses: Bet on a fighter to win and receive a bonus for each knockout in the fight.
  • Parlay Insurance: Get a refund as a bonus bet if one leg of your UFC parlay fails.
    
    

Tennis (ATP, WTA)

• DraftKings Tennis Promos:
  • Set Betting Specials: Enhanced odds on set betting markets.
  • Retirement Insurance: Bet on a match and if a player retires due to injury, get your bet refunded as a bonus bet.
    
    

Auto Racing (NASCAR, Formula 1)

• DraftKings NASCAR Promos:
  • Top Finish Insurance: Bet on a driver to win, and if they finish in the top 3, 5 or 10, receive a bonus.
    
    
• DraftKings Formula 1 Promos:
  • Podium Finish Boosts: Enhanced odds for drivers to finish on the podium.
    
    

Esports (Various Leagues)

• DraftKings Esports Promos:
  • First Kill Insurance: Bet on a team to win a match, and if they get the first kill but lose the match, get your bet back as a bonus bet.
  • Parlay Boosts: Enhanced odds on esports parlays across different games and tournaments.

12. What Are the Pros and Cons of DraftKings?

The pros and cons of DraftKings will vary from user-to-user, depending on what you're looking to get from the sportsbook and its promos and bonuses.

However, some common pros and cons linked with DraftKings include: 

Pros

1. Wide Range of Sports: DraftKings offers contests across a variety of sports, including NFL, NBA, MLB, NHL, PGA and more, giving users plenty of options to choose from.
   
   
2. User-Friendly Interface: The platform is designed to be intuitive and easy to navigate, making it accessible for both beginners and experienced users.
   
   
3. Promotions and Bonuses: DraftKings often provides promotions, bonuses and special offers, especially for new users, which can enhance the gaming experience and offer extra value.
   
   
4. Variety of Contest Types: There are numerous contest types available, including head-to-head matches, 50/50s, and large GPPs (Guaranteed Prize Pools), catering to different levels of players and strategies.
   
   
5. Live Betting Options: For sports betting, DraftKings offers live betting, allowing users to place bets in real-time as the games are happening.
   
   

Cons

1. High Competition: Due to its popularity, DraftKings has a large user base, which can make it challenging for new users to compete against more experienced players, especially in large tournaments.
   
   
2. Fees and Rake: DraftKings takes a percentage of entry fees as a rake, which can be relatively high, particularly in larger contests. This can affect the overall profitability for players.
   
   
3. Limited Availability: In some regions, DraftKings may not be available due to local regulations and laws regarding online gambling and DFS.
   
   
4. Payout Issues: There have been occasional reports of issues with withdrawals or disputes over winnings, although these are typically addressed by customer support.
   
   
5. Complexity for Beginners: The range of contest types and the strategy involved in DFS can be overwhelming for new players, making it difficult to get started without some knowledge or experience.

13. Are There Any Risks With DraftKings Promos?

While claiming DraftKings promos can be a great way to maximize your betting profits, it's crucial to be aware of their potential risks.

Four of the most notable risks attached to promo offers are: 

• No Guaranteed Winnings: Whether it's a $150 bonus bet, a $1,000 risk bonus bet or a 50% deposit bonus, if you place your bonus credit on a losing bet you will still come away with no more cash than when you started.  
  
  
• Risk of Losing Money: One of the most common ways bettors lose money through promos is through No Sweat Bets. Let's say you're gifted a $500 risk bonus bet and you place your $500 on the losing side of a game. You won't be refunded with $500 of withdrawable cash, but instead $500 of site credit (often in the form of a bonus bet). Place this bonus bet on the losing side and you've just lost $500 to the sportsbook. 
  
  
• Limited Number of Sign-Up Bonuses: While DraftKings sign-up bonuses can be generous, you can only ever receive one sign-up bonus from the sportsbook (when you first create an account). This means that it isn't wise to rely purely on your DraftKings sign-up bonus for all of your profits.  
  
  
• Misuse of Promos: Certain promos have more complex rules and often hidden T&Cs. As a result, if you go into them without proper guidance and support, you can risk reducing the amount of overall profit you earn, or worse, lose money.

But it isn't all doom and gloom! There is one way you can guarantee profits from sportsbook promos risk-free, every time.

Sound too good to be true? Read the next section. 

14. How to Guarantee Profit from DraftKings Promos & Bonuses

While it's true that risks can arise when claiming DraftKings promos, one clever technique exists that can remove them and guarantee you profits from promos every time.

Promo conversion (A.K.A matched betting), is a fully legal, super simple (with the right platform) method of turning sportsbook promos into guaranteed cash.

Simply put, it involves betting on one side of a game to qualify for a sportsbook promo, then betting on the other side to cover both outcomes and remove the risk. Repeat this process using your new promo and voila! You've locked in a guaranteed profit. 

And while this sounds simple on paper, to earn serious monthly profits with this technique you need rapid odds-matching software, an up-to-date promo database and tailored instructions for converting each offer at your disposal. 

15. Why Choose ProfitDuel?

At ProfitDuel we have over 10 years' experience in the matched betting industry at the highest level. In that time we've helped 400,000+ members in the US & Europe earn guaranteed profits in the $1,000s each month converting sportsbook promos.

How exactly? By taking the complex-sounding promo conversion process we touched on in the last section, and creating intelligent software, easy-to-follow strategies and expert one-to-one customer support to make it insanely simple.

Not sold yet? Read the 5 simple steps to converting sportsbook promos in our free guide to see just how easy it can be to add $1,000s to your monthly income.

When you've done that and you're ready to start earning guaranteed profits, sign up to ProfitDuel using our limited-time offer: 50% off your first month of ProfitDuel!