When the DraftKings Sportsbook first went live last year, the popular betting platform offered new sports bettors an impressive free bet up to $200. Over the last few weeks, that DraftKings SB bonus has increased to even more head-turning $500. The current bonus is scheduled to last into mid-April, but has been extended at least once previously, so we would not be surprised to see it continue to be offered.
$500 ?You read that right. If you are a new DraftKings sportsbook user, you can receive a free bet up to $500.
How to take advantage of free DraftKings sportsbook bet?
The first step in taking part in this offer is that you must first sign-up to DraftKings. If you already have an account have at DraftKings but have not made a wager in the sportsbook, you are eligible too.
If you are registering for the first time, you may be asked for a DraftKings Sportsbook bonus code when registering. Fortunately, do not bother with one as a bonus code is not required. Simply register your account and follow the other instructions.
Once you have created an account, you can look around the web-based and DraftKings mobile app sportsbook to check out the betting lines. But to take advantage of the bonus you will need to go through some other steps.
Make a deposit or use your DraftKings DFS balance
Since the free bet is based on the size of your first bet, you must make a deposit into the sportsbook. This can be done through a credit or debit card, bank transfer or Paypal. You can deposit as little as $5, but of course, if you want to get the full bonus, you are going to want to make a large wager with your first bet.
This will require that you make a larger deposit. To receive the maximum free bet, you will need deposit $500 or more into your account. Note that if you happen to have money from DraftKings daily fantasy sports activity, you will not need to make a deposit.
Place your bet
From there, you will need to place any kind of real money bet in the DraftKings Sportsbook. DraftKings will match your first bet 100% up to $500. So if you make a $250 wager as your first DraftKings bet, you will receive a $250 free bet.
You will receive your free bet immediately after your first DraftKings bet. Make sure to not forget about the DraftKings free bet after making your first wager, as it will be removed from your account within 30 days if not used.
When you have been credited with your free bet, DraftKings will only allow you to withdraw proceeds from your free bet. For example, if you make a $500 bet as your first wager you will receive a $500 free bet. You make another $500 wager with your free bet and win, let’s say $1050. You will only be able to withdraw all winnings ($550) but not the free bet itself ($500).
Despite that important caveat, the free DraftKings sportsbook bet provides amazing value for any DraftKing user who is able to bet sports through the platform.