DraftKings is currently offering new customers one of its best sign-up deals of the season: bet $5 on any sport and get $300 in bonus bets instantly — no promo code required. The offer activates the moment you place a qualifying cash wager, with the bonus paid out as twelve $25 bonus bets. You’ll also get access to a 3 Months of NBA League Pass, a perk that’s available for a limited time. In this guide, we’ll walk you through how the DraftKings $300 promo works, when the bonus credits arrive, and how this welcome offer stacks up against other major sportsbooks.

Opt in to “New Customers: Get $300 in Bonus Bets!”, apply your New Customer Offer Token to a $5+ cash bet at -500 odds or longer, and win that bet. When it settles, you’ll receive $300 in Bonus Bets (12×$25) plus a 3-month NBA League Pass code. 

Steps to claim the DraftKings $300 Bonus

1. Sign up & verify your DraftKings Sportsbook account (age + location).
2. Opt in to “New Customers: Get $300 in Bonus Bets!” on the promos page.
3. Receive your New Customer Offer Token.
4. Add a $5+ cash bet (odds -500 or longer) to your bet slip.
5. Apply the token before placing the bet (on the bet slip under Apply Reward). Tokens can’t be applied retroactively.
6. Place the wager and win. When it settles as a win, DraftKings credits $300 in Bonus Bets (12×$25) to your Rewards page, and sends a 3-month NBA League Pass code within 72 hours.

Terms & conditions (what to know)

• Eligibility: New Sportsbook customers (or accounts with no prior deposit and no prior $5+ bet). One offer per customer.
• Qualifying bet: Minimum $5, must come from cash balance, and be at -500 odds or longer. Bet must win to trigger the bonus.
• Token usage: The New Customer Offer Token must be applied on the bet slip before you place the bet. No retroactive credit.
• Payout format: $300 in Bonus Bets issued as twelve $25 tokens; they appear in Rewards → My Rewards (not in your cash balance).
• Bonus Bet rules:
  • Expire in 7 days (168 hours) after being credited.
  • Non-withdrawable; winnings are profit only—the stake isn’t returned. (e.g., a $10 Bonus Bet at +100 pays $10.)
• League Pass perk: Promo code delivered by email + Rewards within 72 hours of qualification; redeem by the deadline shown on the offer.
• Disqualifiers: Cashed-out or voided qualifying bets won’t earn rewards. Follow the promo window listed on your promo card; late bets don’t qualify.
• How to use Bonus Bets: Select a market, open the bet slip, toggle/apply the Bonus Bet token, then place the bet.

To me, this $300 offer is compelling - especially for bettors who are already planning to place a relatively low-risk $5 wager. The upside is significant: if you hit a modest favorite (say –200 or shorter), your $300 in bonus bets is a generous multiplier over the initial stake. The fact that you don’t need a promo code is also cleaner: less friction, fewer “did I enter it right?” uncertainties.

But—and there always is a but - you must win your bet. That condition shifts this from a pure “risk-free” bonus to a conditional boost. If your $5 stake loses, you walk away with nothing extra. That raises the stakes (literally) on your first bet more than in some competitor deals where you get a reward regardless of outcome.

Also: distributing the bonus as separate $25 bets and limiting expiration to 7 days means you’ll need to move quickly and use the bonus funds judiciously. Don’t go chasing longshots just because you have “free” bets - you still need to manage bankroll and odds.

Here’s what I’d tell someone I know considering this promo:

“If I were opening a new sportsbook account today with $300 on the table, I’d pick a modest favorite - something like a -150 to -200 odds bet - that feels fairly safe. I’d treat the bonus as an extra tool, not a reason to flip to reckless bets. Because if that first bet doesn’t land, you lose the shot entirely.”

Bottom line: it’s a strong, aggressive welcome offer, but only as strong as your first bet’s outcome. Use some strategy, don’t gamble it all blindly, and think about how you’ll deploy those $25 bonus bets if - if - they hit.