DraftKings Promo Code for New Users – Bet $5 & Get $300 If Your Bet Wins
Last updated June 11, 2025
This is a high-value, conditional welcome offer for new DraftKings customers. You bet $5 on a heavy favorite (minimum odds of -500), and if that bet wins, you receive a very generous $300 in bonus bets.
The main danger with DraftKings' $300 promo is that you get nothing if your heavy favorite somehow loses. The bonus is paid out in 12 smaller $25 bets, not a lump sum.
Who is Eligible for the DraftKings $300 Promo Code?
The DraftKings promo code is open to new customers aged 21+ (18+ in DC/KY) who are physically located in eligible jurisdictions, including DC, IA, KS, KY, LA (select parishes), MD, MI, NJ, NY, TN, VA, and VT. Customers who have redeemed pre-launch offers or have restricted accounts due to self-exclusion, employment, or other reasons are not eligible.
Highlights & Key Takeaways
The Good (Pros from a Bettor's Perspective)
✅ Massive Potential Return: This is the main attraction. A $5 risk for a potential $300 reward is a 60x multiplier on your investment, which is an outstanding value proposition.
✅ High Probability of Success (The -500 Rule): This is the single best feature of the updated offer. A -500 moneyline favorite has a ~83.3% implied probability of winning.
✅ Low Initial Risk: Your maximum loss on this promotion is just $5. This is a low barrier to entry for the chance to unlock $300 in betting credits.
✅ Teaches Smart Betting for the First Bet: The offer’s structure subtly guides new users toward a smart strategy: find the safest, most lopsided matchup you can to unlock the bonus.
The goal isn't the tiny profit from the $5 bet itself (a $5 bet on -500 odds only profits $1), but to win and activate the $300 bonus bets.
The Bad (Cons & Things to Watch Out For)
❌ It's Conditional - No Guarantee: This is the most significant drawback. Unlike "Bet & Get" offers (e.g., "Bet $5, Get $150 Instantly"), you are not guaranteed a bonus. Upsets happen, and if your -500 favorite loses, you walk away with nothing but a lost $5 bet.
❌ Fragmented Bonus Payout: Receiving 12 x $25 Bonus Bets is less flexible than a single $300 bonus bet.
You cannot combine them to place one large wager if you have a single high-conviction pick. This forces you to make 12 separate bets, spreading your action.
❌ Bonus Bet Mechanics (Stake Not Returned): This is standard across the industry but crucial to understand.
When you win a bet using a $25 Bonus Bet, you only receive the winnings, not the $25 stake back.
❌ 7-Day Expiration: You have one week to use all 12 bonus bets.
This requires you to be active on the app and find 12 different wagers in a relatively short period.
The Pros easily outperform the Cons with the DraftKings New Sportsbook Customer offer because the small initial cash wager required is minimal compared to the significant value of the bonus bets you receive, giving you a substantial starting bankroll.
How to Analyze The DraftKings New Customer Offer
This offer has two distinct phases, and your strategy should change for each. The first step is to get the actual bonus bets. The second step is how to best use these bonus bets.
Phase 1: The Qualifying Bet (Your $5 Wager)
- The Goal: WIN. That's it. The profit from this bet is irrelevant.
- The Strategy: Find the most lopsided matchup you possibly can that meets the -500 minimum odds requirement.
- What to Avoid: Do not bet on a point spread or parlays. Bet on the moneyline to simply win the game outright. Don't get fancy.
Phase 2: Using the Bonus Bets (Your 12 x $25 Bets)
- The Goal: Convert the bonus bets into as much withdrawable cash as possible.
- The Strategy: Because the stake isn't returned, bonus bets provide the most value on plus-money underdogs (+100 or higher). Your expected value is mathematically higher on these bets.
- Implementation: Use your 12 bets to take calculated risks. Look for live betting opportunities or underdogs you believe have a legitimate chance to win. Winning just 3 or 4 of your 12 bets on +150 to +300 underdogs could yield a much higher cash return than winning 8 or 9 bets on heavy favorites.
| 🎁 Bonus Promo Offer: | Bet $5, Get $300 in Bonus Bets If Your Bet Wins |
| ➕ DK Promo Code | None Needed - Click To Claim |
| 🇺🇸 Bonus Available in: | AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (select parishes), MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WY or WV |
| 💲 Eligible bet types | Moneyline bets, Spread bets, Player props, Over/under bets, Same Game Parlays, Live bets, Traditional parlays |
| 💰 Minimum deposit: | $5 |
| 📊 Minimum odds: | -500 for qualifying wager |
| 🗓️ Days to use bonus bets: | 7 days |
| ⭐ Promo Rating | 5/5 |
GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).
Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD).
21+ and present in most states. (18+ DC/KY/NH/WY). Void in ONT/OR/NH. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS).
1 per new customer. $5+ first-time bet req. Max. $300 issued as non-withdrawable Bonus Bets that expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/promos. Ends 6/22/25 at 11:59 PM ET. Sponsored by DK
Good to Know About DraftKings Sportsbook New User Offer
Do you need a promo code from DraftKings?
The DraftKings $300 promo code is not required to claim their welcome bonus. New users can enjoy the "Bet $5, Get $300" offer by simply depositing a minimum of $5, placing their first bet of $5 or more on any eligible market, and winning that first bet.
How do I get my bonus bets from DraftKings?
To receive and access your bonus bets on DraftKings, follow a few simple steps to ensure a seamless experience. Bonus bets are typically credited to your account after fulfilling the criteria of a promotion or offer. To view your bonus bets, navigate to the "Rewards" section and select “My Rewards” from your DraftKings account dashboard.
Under ‘Available Rewards,’ you'll find all your current bonus bets listed, complete with their respective terms, including the expiration date and time. It’s crucial to read these details carefully to understand how and on what markets these bonus bets can be used, maximizing their potential. This system allows DraftKings to directly reward users directly, providing additional opportunities to bet and win across a wide range of sports and events.
How long does it take to get the $300 Bonus Bets from DraftKings?
When participating in DraftKings promotions, such as the $300 bonus for a $5 bet, users typically receive promotional credits within 24 hours after their qualifying wager has settled.
However, it's important to note that the process may take longer in some instances due to the time required for comprehensive accounting and verification. DraftKings ensures that all bonuses are credited as soon as possible, keeping transparency and user satisfaction as top priorities.
How to Claim the DraftKings Bet $5, Get $300 Promo
Unlocking $300 in bonus bets on DraftKings Sportsbook is a straightforward process designed for new users.
First, sign up to create a new DraftKings account, ensuring you're a first-time user.
Next, make an initial deposit of at least $5 into your account, setting the stage for your first bet. Here are all the deposit options:
| Payment Method | Description | Processing Time |
| Credit/Debit Card | Visa, MasterCard, Discover | Instant |
| PayPal | Secure online payments | Instant |
| Bank Transfer | Direct transfer from bank account | 2-5 Business Days |
| DraftKings Play+ Card | Prepaid card exclusive to DraftKings | Instant |
| PayNearMe | Cash payments at retail locations | 15 Minutes |
| Wire Transfer | High-value transfers | 5-7 Business Days |
| Cash at Casino Cage | Direct cash deposit at partner casinos | Instant |
Then, place a wager of $5 or more on any sports event of your choosing.
If your first bet wins, DraftKings rewards you with bonus bets, giving you a substantial boost to explore a wide array of betting opportunities. This offer ensures new members can dive into sports betting with an enhanced experience, offering a significant advantage from the very beginning.
How Does The DraftKings Promo Compare?
DraftKings vs FanDuel
Choosing between FanDuel and DraftKings depends on what you value in a sports betting site.
FanDuel consistently offers better odds on a variety of sporting events, making it a top choice for bettors focused on value. In contrast, while offering competitive odds, DraftKings offers a great online casino far better than the FanDuel Casino.
DraftKings vs BetMGM
BetMGM and DraftKings sportsbooks both stand out in the online betting landscape.
BetMGM is giving a first-bet paid-back offer, and DK offers a more attractive bet-and-get offer that is more valuable to your initial betting experience. This makes DraftKings attractive for regular bettors seeking consistent value and varied betting experiences.
Sqore.com Rating of the Bet $5, Win $300 Bonus from DraftKings
Is the DraftKings new customer offer as good as it looks? In short, yes, it is. Let's look at different bet parameters of the bonus.
- Comparing the bonus to similar available bonuses
- Bet and Get offers are hugely popular in the US and DraftKings have been leading the way with the Bet $5 Get $300 offer. Fanduel, Bet365, and BetMGM are examples of other sportsbooks that usually offer similar bet-and-get offers. The DraftKings Bet $5 Win $300 promo is currently one of the best offers you can claim in any state where online sports betting is legal.
- Actions needed to maximize bonus amount
- This promo is very easy to claim. There is no need for a promo code; users just need to sign up with DraftKings using the links provided on this page, make a deposit, and place their first bet on any matchup of their choice.
- Looking at the Terms and Conditions
- The bonus terms are fair. The promo is only for new customers, and you have 7 days to use your 12 x $25 bonus bets, which should be enough time to use your bonus money.
The Verdict
Overall, this is one of the best bonus offers across the United States. No further comments are needed!
| ⭐ Sqore Promo Rating | ⭐⭐⭐⭐⭐ 5/5 |
What States Allow DraftKings?
DraftKings is one of the most widespread sportsbooks in the US. Check the table below to see where DraftKings is legal.
| State | DK Sportsbook | DK Casino | Launch Date | Retail Partner |
| Arizona | ✅ | September 2021 | TPC Scottsdale | |
| Colorado | ✅ | May 2020 | Mardi Gras Casino (Black Hawk) | |
| Connecticut | ✅ | ✅ | October 2021 | Foxwoods Resort Casino |
| Illinois | ✅ | August 2020 | DraftKings at Casino Queen | |
| Indiana | ✅ | October 2019 | Ameristar Casino | |
| Iowa | ✅ | February 2020 | Wild Rose Casino | |
| Kansas | ✅ | September 2022 | Boot Hill Casino & Resort | |
| Kentucky | ✅ | September 2023 | ||
| Louisiana | ✅ | January 2022 | Golden Nugget Hotel & Casino Lake Charles | |
| Maine | ✅ | November 2023 | Passamaquoddy Tribe | |
| Maryland | ✅ | November 2022 | Maryland State Fairgrounds | |
| Massachusetts | ✅ | March 2023 | N/A | |
| Michigan | ✅ | ✅ | January 2021 | Bay Mills Resort & Casino |
| New Hampshire | ✅ | December 2019 | The Brook Casino, Filotimo Casino | |
| New Jersey | ✅ | ✅ | September 2018 | Resorts Casino |
| New York | ✅ | January 2022 | del Lago Resort & Casino | |
| North Carolina | ✅ | March 2024 | N/A | |
| Ohio | ✅ | January 2023 | Hollywood Casino Toledo | |
| Oregon | ✅ | January 2022 | N/A | |
| Pennsylvania | ✅ | ✅ | November 2019 | Penn Interactive |
| Tennessee | ✅ | November 2020 | N/A | |
| Virginia | ✅ | January 2021 | N/A | |
| West Virginia | ✅ | ✅ | August 2019 | N/A |
| Wyoming | ✅ | September 2021 | N/A |
Does DraftKings have any promos in these states?
Yes, DraftKings offers various promotions for both new and existing customers. One of its current promotions includes offering new customers $300 in bonus bets when they place a bet of $5 or more. DraftKings frequently updates their promotions, so it's advisable to visit their website to stay up-to-date on the latest offers and deals.
About DraftKings
DraftKings Sportsbook, an eminent digital betting site, originated as a premier daily fantasy sports entity; it has evolved into a comprehensive sports betting and online casino operator.
The platform caters to a broad spectrum of sports, encompassing football, basketball, baseball, hockey, soccer, golf, and tennis. It provides an extensive range of betting modalities such as spreads, moneylines, over/unders, and proposition bets, catering to diverse betting preferences.
A distinctive feature of DraftKings Sportsbook is its live betting capability. It enables users to engage in bets during the live action of events, thus adding a dynamic dimension to the betting experience. The platform is distinguished by its intuitive user interface, promotional offers and bonuses, and a well-structured loyalty program designed to reward its dedicated clientele.
Geographically, DraftKings Sportsbook's presence is notable in all U.S. states where online sports betting is legally sanctioned, marking its expansive and compliant operational footprint.
| Feature | Details |
| Mobile App | Available on iOS and Android platforms |
| Sports Markets | Includes NFL, NBA, MLB, soccer, golf, MMA, and others |
| Bet Varieties | Offers moneyline, point spread, over/under, props, futures, parlays, etc. |
| In-Play Betting | Available, providing live wagering options |
| Loyalty Program | Dynasty rewards program for regular users |
| Referral Incentives | Rewards vary based on the referred product |
| Payment Options | Includes credit/debit cards, PayPal, ACH, online bank transfers, etc. |
| Customer Support | Accessible via email, live chat, and a comprehensive FAQ section |
| Responsible Gambling | Tools for limit setting and self-exclusion are available |
| Security Measures | Employs SSL encryption and stringent data protection protocols |
FAQ on the DraftKings Bet $5, Win $300 Promo
In which states can I claim the DraftKings Bet $5, Win $300 promotion?
DraftKings Sportsbook is currently available in the following U.S. states: AZ, CO, CT, IL, IN, IA, KS, KY, LA(select parishes), MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, WY only. Void in ONT/OR/NH.
How old do I need to be to register with DraftKings?
You need to be at least 21 years of age to register with DraftKings Sportsbook.
Do I need a promo code to claim the DraftKings Bet $5, Win $300 Promo?
No, you do not need a promo code to claim this offer. You can use promo code SQORE, but this is optional as the promo will trigger without using a promo code!
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