DraftKings Bet $5, Get $200 Promo

Alicia Butler
Written by:
Alicia Butler
Andrew McDermott
Fact checked by:
Andrew McDermott
Updated: May 14th 2024

DraftKings Sportsbook has released a brand new bet-and-get offer where new sign-ups can get $200 whether your first bet of $5+ wins or loses.

You will also get three no-sweat bet tokens, up to $50 per NFL gameday to pair with your bet $5 get $200 offer. All you need to do is click this link to activate the offer.

This is one of the best offers in recent memory from one of the top sportsbook operators in the United States.

DraftKings Bet $5, Get $200 Promo Code

There is no promo code needed for the deal, so all you need to do is to click this link to activate the offer for the bet $5, get $200 DraftKings promo.

After you’ve created your account and completed any prompted identity and/or location verification steps, just make a deposit and place your first bet of $5+. Whether your bet wins or loses, you’ll get $200 in bonus bets.

Not only that, you will also get three (3) no-sweat bet tokens – up to $50 per NFL gameday – for a total of $150 in no-sweat bets.

So – for a limited time – new sign-ups will not only get the $200 in bonus bets but will also get an additional $150 in no-sweat bet promos when they claim the DraftKings $200 promo code.

How the DraftKings $200 Promo Works

All you need to do to activate the Bet $5, Get $200 DraftKings promo code is follow the steps below:

  • Click on one of the links or one of the claim buttons on this page to be taken to DraftKings Sportsbook.

  • Complete any registration steps including inputting personal information and verify your location.

  • Make a deposit and place your $5+ first bet on any market on the DraftKings Sportsbook.

  • Get $200 instantly in bonus bets. No need to wait for your bet to settle or win your first bet.

You’ll also be eligible to claim $150 in no-sweat NFL bets. To claim the additional no-sweat aspect, opt-in on the DraftKings promotion tab, and you’ll receive three (3) no-sweat NFL bet tokens – one for each NFL game day.

Bets placed with bonus bets will not qualify for the no-sweat promo and it can not be combined with your $5 qualifying wager for the Bet $5, Get $200 promo.

Playthrough Requirements

One of the best parts of this DraftKings bet and get promo is the low wagering requirement.

Once you receive the $200 from your first qualifying wager you will need to win wagers in order to convert to withdrawable cash. You will only need to bet them once and any winnings associated with your bonus bets will be returned to you in withdrawable cash.

Wagers placed with bonus bets will not return the stake, just the winnings. So if you were to place a $25 bonus bet wager on a bet with (+100) odds, you would only receive the $25 in profits and would not get your $25 bonus bet stake back.

Terms and Conditions

This offer is available only to those 21+ years or older in states where DraftKings operates and is limited to one (1) welcome promo per customer. But even if you meet those requirements, there are a couple of terms and conditions to be aware of after signing up.

The most important one is that bonus bet credits will expire seven (7) days after issuance.

Any unused bonus bets after 168 hours – a week – will expire and be voided. Futures bets, look-ahead lines, and other wagers that settle outside the seven-day period will be honored. Simply put, you need to have placed a bet using the bonus bets within seven days of receiving them.

The Best Way to Use the DraftKings Bet $5, Get $200 Promo

You can’t really go wrong with qualifying for the DraftKings $200 promo code, as you’ll receive the $200 whether your initial $5 wager wins or loses.

The time you’ll have the freedom and ability to capitalize on the DraftKings promo is after you receive the $200 promo. You have a couple of different options when converting your bonus bets into withdrawable credits.

The more aggressive strategy would be placing your bonus bets on wagers with longer odds – such as a parlay, future, or underdog money line. These are riskier wagers, but open the door to spinning your $200 promo into more.

The safer strategy is accepting that you’re unlikely to convert all of the $200 promo into withdrawable cash, and attempting to secure as much as possible from that bonus. In this strategy, you’d stick to wagers which are more likely to win and ensure you retain some of the promo but will pay out less and convert less into withdrawable cash.

My preferred strategy is to find a nice combination between the two. Perhaps you use a couple of $25 bonus bets on “easy-to-predict” options such as laying the juice on a favorites money line or a prop bet you feel confident in.

And once you’ve converted a portion of the bonus bets into withdrawable cash, take a chance with some futures, an underdog moneyline, or a longshot parlay.

How to Withdraw Your Promo Winnings

After you’ve reached the 1x wagering requirement and met all terms and conditions of this DraftKings $200 promo, you can choose to continue to play and use the platform or withdraw.

DraftKings makes it extremely easy to withdraw and has many options including PayPal, Venmo, Bank Transfer, Cash at the Cage, and more.

Some of these options may not be available in your market and DraftKings prefers you use the same source you made your deposit with. Keep this in mind when choosing your deposit method.

Select one of the methods of withdrawal available to you, complete any verification steps, select the amount, and complete the withdrawal. You will receive an email with the information and you should receive your withdrawal within 24-72 hours depending on the method of withdrawal.

After you are all set with DraftKings, you can find more sportsbook promotions to take advantage of other great deals!

Where Is This Promo Available?

  • Arizona

  • Colorado

  • Connecticut

  • Illinois

  • Indiana

  • Iowa

  • Kansas

  • Kentucky

DraftKings hasn’t officially launched in Kentucky yet, but you can sign up today and claim the DraftKings Kentucky promo and get $200 in bonus bets on the official launch day.

  • Louisiana

  • Maryland

  • Michigan

  • New Hampshire

  • New Jersey

  • New York

  • Ohio

  • Pennsylvania

  • Tennessee

  • Virginia

  • West Virginia

  • Wyoming

    If you're looking for th DraftKings Casino, claim the $5 for $100 DraftKings Bonus today!

Alicia Butler
Topic Expert
Alicia Butler

Alicia is OddsSeeker's Lead Editor & Fact Checker! She's been reviewing online casinos, sportsbooks, and other gaming since 2021, but has well over a decade of experience writing and editing for some of the largest online magazines and brands since 2011! Over her career, Alicia has worked as a travel and entertainment writer & editor contributing to widely read digital publications such as The Spruce, The Balance and The Spruce Pets, VeryWell, and TripSavvy. Alicia makes sure our readers can trust every word - holding both our team & our gaming operator partners to the highest standard to ensure that our readers always have the best possible experiences playing gaming online! Beyond OddsSeeker, Alicia is a marketing expert, entrepreneur, and avid traveler based in Connecticut!

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