DraftKings Has Two New Bonuses — Which Should You Choose?

DraftKings Sportsbook is one of the leading sports betting operators in the United States, and, much like the other major companies in the industry, it uses fun promotions to attract new customers.

If you do not already own an account with this US sports betting powerhouse, now is a good time to consider joining. The new football season is just around the corner, with hundreds of NFL and NCAAF matches being scheduled for early September, and DraftKings has come up with not one but two lucrative offers for new players.

Currently, two welcome packages are available, but players can only take advantage of one of them — so which one should you choose?

We have gone through the full list of the terms and conditions to learn everything there is to know about the pair of new DraftKings bonuses and find out which is better for recreational and serious players.

Learn More: Free NCAAF Picks: Southeastern Conference Odds & Predictions

Bet $5 & Get $200 in Bonus Bets

The previous DraftKings offer was “Bet $5 and Get $150.” The operator has now increased the bonus amount to $200 for a limited time (August 21 to September 18). The reason for such a transition is the start of the new college football and NFL seasons.

The 2023 NCAAF season kicks off on Saturday, August 26, with Week 0 affairs, while the new NFL season begins on Thursday, September 7, with the clash between the reigning Super Bowl champion Kansas City Chiefs and the Detroit Lions.

How to Claim the $200 DraftKings Bonus:

1. Register a new account at DraftKings (either via the website or through the mobile app, available for both iOS and Android)
2. Make a deposit (minimum $5)
3. Place your first bet at DraftKings by wagering at least $5 on any market/event of your preference
4. As soon as you place your first bet, the sportsbook will instantly award you with $200 in bonus bets

How it works:

• The bonus bets come in the form of eight separate $25 bets ($25 × 8 = $200)
• The bonus bets can not be withdrawn; you need to wager them within seven days from the moment they’ve been credited to your account
• You are free to place your bonus bets on any event/market out there
• The bonus bet amount will not be included in potential winnings (if you bet $25 on +100 odds, you will have $25 in cash if the bet turns out to be a winner)
• You are free to cash out any funds you potentially win by placing the bonus bets

First Deposit Bonus (20% up to $1000) — Available in All US States Excluding MA

You have probably seen a similar offer at DraftKings Sportsbook before. Nevertheless, it is important to underline that this promotion is now available in all US states where DraftKings operates, apart from Massachusetts.

The first deposit bonus is available to anyone who registers a new DraftKings Sportsbook account and does not opt-in for the aforementioned “Bet $5 — Get $200” promo. The promotional period started on August 18 and will run through September 30.

How to Claim the DraftKings Deposit Bonus:

1. Open a new account at DraftKings Sportsbook (either via the website or the app)
2. Make a deposit (the bonus amount depends on the amount of money you deposit)
3. DraftKings will refund 20% of the money you deposited in the form of DK Dollars (bonus funds)
4. To release $1 DK Dollar, you need to wager $25 on any sportsbook event with the odds of -300 or longer

What you should know before claiming:

• You will have 90 days (from the day of your first deposit) to meet the wagering requirements and release the maximum bonus award
• Once you have DK Dollars (bonus funds) in your account, you still cannot withdraw them
• You need to wager them once (1x) before being able to cash them out
• The good news is that DK Dollars do not expire and that the stake is also included in winnings (if you bet $10 DK Dollars at +100 odds, you will get $20 in cash, available for withdrawal)

To get the maximum bonus amount of $1000, you will need to deposit $5000 (since this is a 20% bonus). After that, you will then need to bet a total of $25,000 to release the full $1000 DK Dollars amount.

This sum might seem big, but there is a 90-day limit to meet the playthrough requirement, and you will not lose the previously earned DK Dollars if you fail to wager enough money to release an entire $1,000 bonus amount.

Which DraftKings Bonus is Best for You?

Now that we have covered both DraftKings bonus offers in detail, the answer to this question pretty much lies in your personal preferences as a bettor. If you are new to sports betting and are looking to test the waters by putting a few bucks on a full NFL schedule on a Sunday, the first promo should certainly be your choice.

It’s not every day that you get the chance to get to place eight separate bonus bets worth $25 each. Creating a new DraftKings Sportsbook account and depositing $5 is a very small price to pay for such a luxury in this case. The timing is also ideal as the new season starts in both NFL and college football, meaning there will be plenty to bet on in the weeks to come.

On the other hand, if you are looking to deposit, say, $2,000 or more, the second promotion is probably more lucrative. That said, it all depends on your taste.

If you place bets regularly and meeting the aforementioned wagering criteria would not represent too much trouble for you based on average numbers, this is the one to go for. If you find the rollover requirements too harsh for your betting habits, turn attention to the other offer (Bet $5 — Get $200).

In general, the first deposit bonus comes in with pretty challenging wagering requirements, and the other welcome offer will seem much more attractive to the majority of new DraftKings customers.

Looking for some hot football betting tips? Check out our daily free NCAAF picks and expert NFL picks.