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DraftKings Promo Code – Bet $5, Get $150 Instantly

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Last Updated: Feb 14, 2023

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Fact Checked By: Josh Collacchi

Sign up with the DraftKings promo code link today and get $150 instantly. Just place a $5 first bet in your new DraftKings Sportsbook account and the $150 in bet credits is all yours.

DraftKings is one of the most popular sports betting brands, and the DraftKings promo code gives new customers a fantastic welcome bonus. DraftKings Sportsbook has gained a reputation for offering the most generous and creative sign-up bonuses. They generally require you to bet just $5 on a major sporting event to unlock hundreds in bonus credits. The DraftKings Sportsbook promo codes change on a regular basis, but we’ve broken down the current welcome bonus and highlighted some of the best deals from the past few months.

This DraftKings promo code guide will explain how to redeem the welcome bonus offer as well as delve into the wagering requirements attached to the promotion. You will also learn about additional DraftKings Sportsbook promo codes, such as the refer-a-friend bonus, the free-to-play daily pools, and the loyalty program. 

Read on for a thorough analysis of the best DraftKings bonus codes, highlighted by the DraftKings promo code welcome offer, which is one of the best sportsbook promo codes available today.

The DraftKings sign-up bonus changes on a regular basis. The current DraftKings promo code offer gives new users $150 instantly. Simply place a $5 first bet and you’ll get $150.

There is also a DraftKings Sportsbook bonus that runs on an intermittent basis. It is a 20% deposit match bonus, worth up to $1,000. This offer comes with a 25x release requirement, so you need to place $25,000 worth of bets to unlock the $1,000. That is not as appealing as some of the short-term DraftKings bonus code offers mentioned in this article, including the current Bet $5, Get $150 Instantly offer.

The bet credits from the DraftKings promo codes have just a 1x rollover requirement. That means you only need to play it through once, and any winnings you earn will be paid into your cash balance. For example, if you place a successful $25 bet with a bet credit at odds of +150, you will be paid $37.50 in cash for that wager. This is an extremely generous offer, as you only need to risk the original $5 of your own money for 8 $25 bet credits, totaling $150. There are no minimum odds requirements when using the bet credits. You just need to use them within seven days to avoide expiration.

Take Advantage Of Various DraftKings Promotions

DraftKings runs lots of similar promotions over the course of the year. For example, it offered a Bet $5, Win $150 bonus for March Madness, and the DraftKings sign-up promo code in the build-up to Super Bowl 56 was a Bet $5, Win $280 bonus. It has also run Bet $1, Win $100 DraftKings sign-up promo code offers in the past. These bonuses are a bit different compared to the BetMGM bonus code, which is a $1,000 first bet offer. The Caesars Sportsbook promo code offers a first bet on Caesars, up to $1,250, while other sportsbooks have different types of welcome bonuses.

These DraftKings Sportsbook promo code offers are for new customers only. It offers a few ongoing DraftKings promotions for existing customers as well, but you can only claim the sign-up bonus once. You must be at least 21 years old to claim a DraftKings Sportsbook promo code. You still are eligible for a DraftKings Sportsbook sign-up bonus, even if you have previously signed up for the DraftKings Casino or have a Daily Fantasy Sports account.

Take advantage of the DraftKings promo code and get started at one of the best sports betting sites available today.

DraftKings Sign-Up Promo

The DraftKings Sportsbook promo code for new customers is a Bet $5, Get $150 Instantly promo. The general idea is that you can sign up and place a $5 qualifying bet to unlock bonus bet credits. The rollover requirement for the bonus funds is just 1x, so this is a very appealing DraftKings promo.

Bonus Bet Credits

There are lots of ways to unlock bet credits and bonuses at DraftKings Sportsbook. You will receive eight bet credits, worth $25 apiece, if you claim the Bet $5, Get $150 welcome bonus. DraftKings sometimes offers a $50 no deposit bonus alongside its 20% deposit match bonus, which essentially amounts to a $50 bet credit. You can earn bonuses via the refer-a-friend program too. Another way to receive a bet credit is to rack up loyalty points and trade them in for site credit. You may find short-term DraftKings offers that include bonuses for existing customers too, if you visit the promotions page.

DraftKings Deposit Bonus

DraftKings Sportsbook offers a 20% deposit match bonus, worth up to $1,000, at some points during the year. This is an interesting offer, but it comes with a 25x release requirement. That means you need to wager $25 of your own money to unlock $1 in bonus funds. To claim the full $1,000 from this DraftKings deposit bonus, you would therefore need to wager $25,000. You will be given 90 days in which to unlock as much bonus credit as possible, and a “Bonus Status” graphic will keep you updated with your progress.

This is a large welcome bonus. Some rival sportsbooks offer a $1,000 first bet offer as their sign-up bonus, but you need to use any bonus funds in one go, whereas the $1,000 from this DraftKings Sportsbook promo code can be divided up and used however you’d like. It is an attractive bonus for high rollers that plan to wager $25,000 in their first 90 days, but casual players might prefer to go for the Bet $5, Get $150 DraftKings bonus code offer instead.

Special Event Offers

DraftKings Sportsbook offers very appealing bonuses that are in with major sporting events. It launched a Bet $5, Win $150 bonus during last year’s NFL Playoffs. You could sign up for an account and place a $5 bet to get eight bet credits, worth $25 each.

It then rolled out an even better DraftKings Sportsbook promo code for the Super Bowl – a Bet $5, Win $280 deal, whereby you would get seven bets credits, worth $40 apiece, for wagering $5 on either team to win. That is the best DraftKings promo code offer we’ve seen, but the sportsbook continues to launch generous deals.

The Bet $5, Win $150 DraftKings promo code returned during March Madness 2022, allowing hoops fans to bet $5 on a game and enjoy eight $25 bet credits, if they won. It then launched a Bet $5, Win $150 bonus to mark the start of the 2022 NBA playoffs. These DraftKings Sportsbook offers are great because they only require you to risk $5 to receive more than $100 in bet credits.

DraftKings online sportsbook has also offered welcome bonuses that focus on huge odds boosts. For example, in the build-up to a big UFC Fight Night, it allowed new customers to bet $1 at boosted odds of 100-to-1 (+10000) on a single punch to be landed in a fight. Winnings were paid out as bet credits. Success was guaranteed, as a punch is always landed in a UFC bout. A similar offer allowed new customers to bet $1 at 100-to-1 odds on a single 3-point field goal being scored in an NBA game. Once again, success was assured because a 3-pointer is pretty much always made in an NBA basketball game. There have been special event offers like that on football games too. You simply needed to make a $5 deposit to qualify for these great DraftKings promo code offers.

DraftKings does not offer as many ongoing promotions for existing customers as some of its rivals. However, you can still benefit from a few interesting DraftKings promotions long after signing up for an account. One great offer is the refer-a-friend bonus that we mentioned previously on this DraftKings Sportsbook promo code page. You simply need to send a unique player referral link to your friends and get them to sign up and make a deposit of $100 or more. You will then each receive a $100 bet credit.

You should also check out the free-to-play daily betting pools, which offer attractive cash prizes. Simply pick a contest, make your predictions, and follow the games live to see if you surge to the top of the leaderboard. For example, you might find a $5,000 pool on NBA games taking place on a particular day. You can enter the contest and make predictions on how the games will unfold, specifying which teams will win, which players will score the most points, rebounds and assists, which game will see the most points, the number of players that will record a triple-double, whether any game will go into overtime and so on.

The bettor that gets the most correct answers will win $100, the next two on the leaderboard will each receive $50, and the prizes will grow continually smaller, with $1 each for the players that finish 501st to 2225th. These are excellent DraftKings promo codes for existing customers, and there are lots running every day. You can also create private pools to play with friends and family.

There are also online casino bonuses at DraftKings, if you are in Colorado, Michigan, New Jersey, Pennsylvania, or West Virginia. The current DraftKings promo code for new customers at DraftKings Casino is a 100% deposit match, up to $2,000. It sometimes offers an additional $85 in bet credit alongside the 100% deposit match. You can sign up and instantly receive $60 as a DraftKings no deposit promo code. You will then receive an additional $25 in bet credit when you make your first deposit, alongside the deposit match of up to $2,000. There are leaderboard contests with $1 million prize pools for casino customers too.

DraftKings Perks For Loyal Customers

The DraftKings loyalty program is called Dynasty Rewards. It covers the DraftKings Sportsbook app, the online casino, and the DFS section, so you can earn points for placing sports bets, playing slots, table games or live dealer games, and for entering fantasy contests. Alongside its legal sports betting operation, DraftKings also has a marketplace selling NFTs and collectibles, and you also earn rewards points for making purchases there. You can even claim DraftKings daily rewards simply when you log into your account.

There are five tiers to the Dynasty Rewards program. You will start as a Bronze member when you begin your legal sports betting journey with DraftKings. If you earn 25,000 loyalty points – known as Crowns – you will progress to the Silver tier. You then receive a 10% monthly accrual bonus and access to better contests and promotions. If you rack up 125,000 Crowns, you will become a Gold member. If you earn 500,000 points, you will become a Diamond member, earning access to exclusive live experiences and a team of VIP associates. The top DraftKings VIP tier is Onyx, which you will ascend to if you earn 1,000,000 Crowns. Onyx DraftKings VIP members receive a dedicated host.

You will earn a Crown for every $2 wagered on straight bets and futures. DraftKings offers a Crown for every $1 wagered on parlays too. You also get a Crown for every $1 in DFS contest entry fees you spend and for every $2 spent in the marketplace, while the rates within the DraftKings Casino vary depending upon which games you play. You can redeem Crowns for bet credits, DFS contest entries, merchandise, experiences, gift cards and even vacations. You can redeem 550 Crowns for $1 in bet credit, so each Crown is essentially worth $0.0018.

This in-depth guide is designed to help you maximize the benefits from DraftKings promo code offers. The Bet $5, Get $150 bonus from DraftKings is among the best of the best. You enjoy a 1x rollover requirement when you claim this DraftKings Sportsbook promo code offer, and you only need to risk $5 of your own money. Some online sportsbooks require you to use the bonus credits in one go, whereas DraftKings divides it up into multiple bet credits, giving you multiple chances of landing a winner.

For example, if you receive eight $25 bet credits and wager them all at odds of around -110, only one needs to win for you to profit. Some players might place hopeful bets on longshots, but we would advise sticking to sensible bets on a sport you are familiar with. Conduct thorough research and bet from a position of strength when using your bonus credits.

You cannot use two bet credits on different sides of the same bet. However, there is nothing to stop you from using a $25 bet credit on one team to cover the spread at -110 odds, and placing a bet of $11.90 on the opposing team to cover the spread at a different online sportsbook, thus locking in a $10.82 profit, regardless of which team covers.

These are the top five benefits you will enjoy when you redeem a DraftKings Sportsbook promo code:

Low Rollover Requirements

You will only need to complete a 1x rollover requirement if you claim the Bet $5, Get $150 DraftKings Sportsbook promo code. Some online sportsbooks require you to play bonus funds through several times before making a withdrawal. That seriously diminishes your chances of earning a cash profit. A 1x rollover requirement is therefore highly appealing. There is a 25x release requirement on the 20% DraftKings deposit bonus, up to $1,000, which is not as appealing. However, it sometimes comes with a $50 DraftKings no deposit bonus, which has just a 1x rollover requirement, and that is an attractive offer. It depends on the offer, but the requirements are always among the industry’s best.

Small Qualifying Deposit Required

DraftKings has a lower minimum deposit than FanDuel, BetMGM, Caesars Sportsbook, WynnBET, and BetRivers. Most of them have a $10 minimum deposit, while the smallest deposit Caesars Sportsbook accepts is usually $20. That means you only need to risk $5 of your own money when claiming a DraftKings Sportsbook promo code, whereas most sites require you to risk at least $10 or $20 to qualify for a welcome bonus.

Credits Arrive Instantly In Your Account

The DraftKings bonus funds will be paid into your account immediately with the DraftKings promo code welcome offer, regardless of how your qualifying wager performs. By contrast, WynnBET offers a Bet $10, Win $150 bonus, which is divided into four $50 bet credits. The first is paid 72 hours after your qualifying bet settles, while the other three are issued over the following three weeks. You do not have to wait for your funds at DraftKings. It requires you to use the bonus credits within seven days, so there is no messing around.

No Promo Code Required

You do not have to go through the rigmarole of typing in a specific DraftKings Sportsbook promo code to claim the funds. You aren’t even required to copy and paste anything. Simply click on the link we’ve provided above to claim the best DraftKings promo code today. You can then fill in the registration form, deposit $5, and make your qualifying bet. That means you don’t need to worry about different codes on a state-by-state basis – such as a different DraftKings Arizona promo code or a DraftKings Michigan promo code – and you will not be in any danger of entering an incorrect code and ending up with an inferior bonus either.

Bonus Funds Are Divided Up

Most online sportsbooks make you use bonus funds in one go. But at DraftKings, you get eight bet credit from the Bet $5, Get $150 Instantly deal, which gives you a strong chance of placing at least one successful bet and earning a cash profit. Another advantage is that you receive your bet credits even if your qualifying $5 bet loses, which is not always the case at online sportsbooks.

DraftKings is known for being one of the best sports betting apps on the market. Let’s take a look into some of the features and offerings available.

DraftKings currently accepts bets on nearly two dozen different sports, including football, basketball, baseball, hockey, MMA, boxing, golf, tennis, and soccer. You can bet on a huge variety of leagues, cups and tournaments from around the world, including pre-game, in-play, and futures wagering. It generally has more than 100 different betting options on big games, including moneylines, spreads, totals, team props, game props, and player props. Parlays, teasers, and round robins are also available. You can use DraftKings bonus funds on most betting options, but live bets are generally precluded, and you cannot use the early cash out option.

These are the most common leagues for anyone using a DraftKings Sportsbook promo code:

DraftKings NFL Promo

You will find lots of exciting DraftKings Sportsbook promo code offers throughout the NFL season. The best DraftKings offer last season was the Bet $5, Win $280 bonus it gave new customers as Super Bowl 56 approached. You could bet $5 on any team and earn $280 in bonus funds – divided into seven bet credits, worth $40 each – regardless of whether your qualifying wager was successful. There was even a Bet $1, Win $150 and a Bet $5, Win $150 NFL DraftKings promo offer during the NFL season. You can also take part in daily free-to-play pools aimed at NFL fans at one of the best NFL betting sites.

DraftKings Super Bowl Promo

DraftKings launched a very generous Bet $5, Win $280 sign-up bonus ahead of Super Bowl 56. Bettors just needed to sign up and place a $5 bet on either the Rams or the Bengals to qualify for this DraftKings Sportsbook promo code. If they bet $5 on the Rams, they were paid out in cash and given seven bet credits, worth $40 each. If they bet on the Bengals, they still received the seven $40 bet credits. Each bet credit came with a 1x playthrough requirement, giving players lots of chances to earn a cash profit.

DraftKings NBA Promo

DraftKings ran a Bet $5, Win $150 sign-up bonus on NBA playoff games in 2022. You could have placed a qualifying bet on any team after redeeming this DraftKings promo code. Arizona bettors may decide to bet on the Phoenix Suns, for example, while new customers in Philadelphia may decide to bet on the 76ers. When you placed your $5 qualifying bet, you received six bet credits, each worth $25. You can use your bet credits on any sports, and they have a 1x playthrough requirement.

DraftKings MLB Promo

One MLB DraftKings promo code unlocks $150 in bet credits, if you place a $5 moneyline bet on an MLB game. You can place the $5 qualifying bet on any team you like, and the bet credits will be awarded no matter the outcome of your initial wager. As always, they have just a 1x rollover requirement, making this a very exciting offer.

DraftKings NHL Promo

DraftKings recently offered a Bet $1, Win $150 bonus for NHL fans. Bettors could sign up for an account, make a $5 minimum deposit and place a $1 bet on any NHL team. They would then receive $150 in bet credits, divided into six $25 bet credits, with a 1x playthrough requirement. There are some free-to-play pools for hockey fans too.

DraftKings UFC Promo

There have been some great DraftKings UFC promo code offers. One of the best was the opportunity to bet $1 at boosted odds of 100-to-1 (+10000) on a single punch landing in a bout, which was a guaranteed win. Another recent DraftKings UFC promo code allowed new customers to bet $5 on any fighter to win on a UFC main card, and they were immediately given four bet credits, worth $25 each, with a 1x playthrough requirement.

DraftKings offers customers nine different payment methods:

• Online Banking: You can transfer funds from most major banking institutions to your DraftKings account. Withdrawals are processed within 5 business days.
• Credit and Debit Cards: Visa, Mastercard and Discover are accepted at DraftKings Sportsbook & Casino. American Express can only be used for DFS contests and the marketplace.
• Electronic Gift Cards: Visa, Mastercard or Discover gift cards are accepted as payment methods.
• DraftKings Gift Card: You can purchase a DraftKings gift card and give it to a friend or family member.
• PayPal: Deposits are available with PayPal and it is one of the quickest withdrawal methods after the payout request has been approved.
• Play+: You can sign up for a DraftKings branded prepaid card from Play+ by visiting the site. This is the quickest withdrawal method.
• Cash: Visit a DraftKings retail venue or use a barcode at participating retail locations to pay in cash. You can also receive a cash payout at a retail sportsbook, but you have to give the team advance notice.
• VIP Preferred E-Check: If you sign up for a VIP Preferred account, you can use it for quick, convenient deposits and withdrawals at DraftKings.
• Wire Transfer: Wire transfers are available via MVB Bank. This is one of the slowest methods, but the limits are high.

Payment methods vary by state, so be sure to check your DraftKings Sportsbook app for the latest banking options.

DraftKings does not offer live chat or phone support, so you need to fill in a web form to request customer support. The team will then get back to you in due time to solve your issue. You can also check out the FAQ section of the site and the DraftKings sports betting app, as this deals with a lot of common requests.

DraftKings Sportsbook offers some of the best welcome bonuses in the industry. You only need to risk a minimal amount of your own money — $5 — to claim $150 in bet credits. The bet credits are issued instantly, regardless of whether your qualifying bet wins or loses, and they come with a very lenient 1x rollover requirement.

We highly recommend signing up with the DraftKings Sportsbook promo code link below to claim your welcome bonus today. You will then be able to take part in daily free-to-play pools and start earning loyalty points too.

What is the best DraftKings promo code?

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The best DraftKings Sportsbook promo code is its welcome offer. The current DraftKings promo code welcome bonus is a Bet $5, Get $150 Instantly promotion. Sign up via the link in this article today.

How to redeem the DraftKings promo code?

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You can simply click on the link that we’ve provided to redeem the current DraftKings promo code. That will take you through to the website, where you can see the best DraftKings sign-up promo code details. You can then fill in the registration form and make a qualifying deposit to unlock your DraftKings promo code offer today.

Is DraftKings Sportsbook legal?

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The DraftKings sports betting app is legal in Arizona, Colorado, Colorado, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, New Hampshire, New Jersey, New York, Ohio, Oregon, Tennessee, Virginia, West Virginia, and Wyoming. If you sign up for a DraftKings mobile betting app account today, you will qualify for a DraftKings Sportsbook promo code. Check out our DraftKings bonus code guide for more information.

What is the rollover on DraftKings promo code?

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There is just a 1x rollover requirement on the sign-up bonus that DraftKings offers, including Bet $5, Get $150 Instantly deal. However, if you go for the 20% match deposit DraftKings sign-up promo code, you will need to complete a 25x release requirement on the funds. You might therefore prefer to sign up with a DraftKings bet and get offer to benefit from the low rollover requirement.

Is there an NFL DraftKings promo code?

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You can use any funds earned via a DraftKings sign-up bonus or additional DraftKings Sportsbook promotions on any NFL game. You will also find short-term DraftKings Sportsbook offers on NFL games throughout the playoffs and during the regular season. For example, DraftKings ran a Bet $5, Win $280 bonus for Super Bowl 56. We will update the DraftKings promo code review once we have NFL DraftKings promo code details for Super Bowl 57.

What is the March Madness DraftKings promo code?

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DraftKings offered a Bet $5, Win $150 bonus for new customers throughout March Madness in 2022. It regularly launches DraftKings Sportsbook bonuses tied to major sporting events, such as March Madness and the Super Bowl. The offers are the same across the country, so DraftKings Louisiana and DraftKings Tennessee have the same bonuses as DraftKings New York and the most recently DraftKings Ohio.

How to enter the DraftKings promo code?

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You can simply click the link we’ve provided to claim your DraftKings Sportsbook promo code offer today. That means you will not need to type in a specific DraftKings promo code. You just click through to the relevant sign-up page, fill in the sign-up form, make a deposit, and place a $5 bet to get your $150 in DraftKings bet credits instantly.

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Contributor since April 2022

Martin Green spent five years working at William Hill before becoming a journalist in 2009. He began working as a sports writer and professional sports handicapper and sportsbook reviewer in 2014.

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