$5 (any market, any odds)
$150 (issued as 6 × $25 bonus bets)
Bonus bets expire 7 days after issuance
None on the qualifying bet; bonus bets require -10000 minimum (effectively any market)
1x — bonus bets convert to withdrawable cash on first settlement (winnings only; stake doesn't return)
All DraftKings live states (28+)
What this offer is, in plain English
Wager $5, Get $150 in Bonus Bets from DraftKings. Sign up, place a qualifying bet of $5 (any market, any odds), and receive $150 (issued as 6 × $25 bonus bets). Bonus credits convert to withdrawable cash only when bets win — and the stake does not return; only the profit on the bet does.
The math, worked out
Place a $5 qualifying bet on Lakers ML at -110. Bet wins or loses — either way, $150 in bonus bets credited as 6 × $25 tokens. Use a $25 bonus bet on Patriots ML at +250. If the Patriots win, the bet pays $25 × 2.5 = $62.50; the $25 stake does not return. Net cash gain: $62.50. If the Patriots lose, the $25 bonus token is gone (no real-money loss because you didn't stake real money).
Expected value
Expected value of $150 in bonus bets is approximately $105-120 depending on usage strategy. Use on plus-money longshots to maximize.
How to maximize the offer
Bonus bets pay only profit, not stake. The expected value of a bonus bet is therefore highest on plus-money odds where the profit-to-stake ratio is high. A $25 bonus bet at +200 returns $50 profit on a win; the same bonus bet at -200 returns just $12.50 profit. Use bonus bets on +150 or longer odds to maximize realized value.
Full fine print
- First-time customers only.
- Must be 21+ (18+ in KY).
- Must be physically located in a DraftKings legal state.
- Available on first qualifying wager only.
- Bonus bets are non-withdrawable; only winnings settle as cash.
- Stake on bonus bets does not return — only profit on the bet settles.
- Bonus bets cannot be combined into a single bet.
- Bonus bets cannot be used on certain markets (varies — check operator T&Cs).
- Promo subject to change; verify current terms at DraftKings before depositing.
How this compares to competing offers
- FanDuel — No-Sweat First Bet up to $1,000 — More upside on a single big bet, but only if you're willing to risk $1,000 on bet #1.
- BetMGM — First Bet Offer up to $1,500 — Largest first-bet offer in the market; same caveat as FanDuel.
- Caesars — Wager $1, Get $300 in bonus bets — Lower qualifying bet, more bonus bets ($300 split as 30 × $10).
Should you take this offer?
The DraftKings welcome offer is competitive against the major-operator field. Whether it's the right one for you depends on your typical bet size and how you'd use the bonus credits. Before signing up, read our full DraftKings review and decide whether the operator's product, pricing, and responsible-gambling tooling fit your needs.
Frequently asked questions
How does the DraftKings welcome offer work?
The DraftKings welcome offer is: Wager $5, Get $150 in Bonus Bets. After signup and a qualifying bet of $5 (any market, any odds), you receive $150 (issued as 6 × $25 bonus bets).
What is the expected value of the DraftKings welcome offer?
Expected value of $150 in bonus bets is approximately $105-120 depending on usage strategy. Use on plus-money longshots to maximize.
How long are DraftKings bonus bets valid?
Bonus bets expire 7 days after issuance
Can I withdraw DraftKings bonus bet money directly?
No. Bonus bet credits cannot be withdrawn. Only winnings on settled bonus bets convert to withdrawable cash — and only the profit, not the stake.
What happens if I'm not happy with DraftKings?
You can use any winnings normally. The bonus offer does not lock you into the operator. We always recommend reading our <a href='../../reviews/draftkings/index.html'>DraftKings review</a> before depositing.
More: all current welcome offers · DraftKings review · all operator reviews · responsible gambling resources.
Bonus terms change frequently. Always verify current T&Cs at the operator before depositing. We update this page as terms change.