DraftKings Promo Code: New $200 Bonus Offer is Live for August 2026

The bottom line: DraftKings’ newest welcome offer gives new customers $200 in Bonus Bets after spending $5 or more, but unlike previous promotions, the bonus is paid out over a 21-day period instead of all at once. Once you qualify, you’ll receive eight $25 Bonus Bets, with two issued every seven days until you’ve received the full $200. Each Bonus Bet expires seven days after it’s credited and only returns the winnings, not the stake.

Do You Need a DraftKings Promo Code?

Not necessarily. DraftKings’ current welcome offer applies automatically when you sign up through a tracked link like the one on this page — you don’t need to type anything into a promo code box for it to work. The code BV1 is there as a backup: if your registration screen shows an empty promo code field and the offer hasn’t already been pre-applied, entering BV1 will attach it manually. If you don’t see a code field at all, that’s normal — it just means the link already did the work.

How to Claim the DraftKings $150 Bonus Bet Offer

Opening a new account at DraftKings Sportsbook and claiming your $250 in bonus bets is as simple as following these 6 steps:

Current DraftKings Promo Code Welcome Offer

The headline offer for new customers is straightforward: bet $5 or more, and you’ll receive $200 in bonus bets as outlined above. In practice, a few mechanics are worth understanding before you place that first wager.

This offer is only available to first-time DraftKings Sportsbook customers who are 21 or older (18+ in Kentucky and Wyoming) and physically located in a state where DraftKings operates. The app verifies your location and identity automatically, so if you’re outside an eligible state or your location can’t be confirmed, you won’t be able to place a qualifying bet.

Your qualifying bet must be at least $5 and carry minimum odds of -500. That’s not a high bar, but it does rule out extreme favorites. A bet on the Grizzlies to beat the Kings at -162 would qualify; a same-game player prop at -610 would not. You’ll also need the new-customer offer token applied to your bet slip before placing the wager — if it isn’t selected, you won’t receive the bonus even if the bet wins.

Bonus bets are not cash. They’re single-use, non-withdrawable promotional credit, and only the profit from a winning bonus-bet wager is returned to your account — the stake itself is not credited. For example, a $25 bonus bet placed at +136 that wins returns $34 in profit; the $25 stake is not added back. That math is why bonus bets tend to stretch further on longer-odds wagers, though the trade-off is a lower win rate — do your research before picking a spot.

One rule that trips up a lot of new customers: cashing out your qualifying $5 bet early disqualifies it from the promotion, even if the bet was winning at the time. Let your qualifying wager play out to get credit for it.

DraftKings also backs the app itself with a track record most competitors can’t match. Between the App Store and Google Play combined, the DraftKings Sportsbook app has amassed well over a million ratings — 4.8/5 on the Apple App Store and 4.7/5 on Google Play — putting it near the top of the industry alongside bet365 and just ahead of BetMGM and FanDuel on Android specifically. For a promo code offer, that kind of scale and rating consistency is a decent proxy for how smoothly the claim process and app itself will actually run once you sign up.

Deposit and Withdrawal Methods for Claiming the Offer

To fund your account and place your $5 qualifying bet, DraftKings accepts most major deposit methods. Withdrawal options are more limited, and a couple of deposit methods don’t support cashing out at all — worth knowing before you pick how you’ll fund your account.

Available methods can vary slightly by state — check the cashier page in-app if your preferred option isn’t showing.

Profit Boost Promotions and Daily Offers

While we love the welcome bonus, it is just the start. DraftKings runs frequent daily promotions, often tied to major sports events, and these typically come in the form of profit boosts.

At any given time, you might find a boost such as a 30% NBA Same Game Parlay boost and a 20% any-sport profit boost. These are always changing, but they almost always have them rolling.

The NBA promotion offers a 30% profit boost on an SGP or SGPx bet with 4+ legs. The total odds must be +300 or longer and you must opt in and apply the profit boost token before placing your bet. The boost only applies to winnings, not the original stake, which is also worth keeping in mind.

The 20% any-sport profit boost, which is one of their more common promos, works similarly but applies to more bet types. You can use it on single bets, parlays, SGP, or SGPx bets, as long as the total odds are +300 or longer. Again, like the NBA boost example we mentioned, you must opt in and apply the token before placing the wager. The boost expires at a specific time, often the same day.

Beyond the rotating daily boosts, DraftKings also runs a handful of standing promotions that regular bettors should know about:

These promotions are not automatic, as you have to activate them to receive the enhanced payout. They also require you to use funds from your cash balance or DK Dollars, as bets placed with other bonus credits are usually not eligible.

Sports and Betting Markets Available on DraftKings

Part of what makes the DraftKings promo code worth claiming is the sheer depth of what you can actually bet on once the bonus lands. Here’s a look at the sports and bet types DraftKings covers:

Same Game Parlays are available across most of these sports, and DraftKings’ bet builder lets you combine spreads, totals, and player props into a single slip in a few taps.

Where DraftKings Promotions Are Available

DraftKings Sportsbook currently operates online in tons of states, and the promo code and welcome offer are live in all of them. Availability and exact promotional terms can vary slightly by state, so use the table below as a quick reference.

Retail sportsbooks operate in Michigan, Mississippi, New Hampshire, New Jersey, Tennessee, and Washington and they also have some co-branded sportsbooks with casino partners in Illinois, Indiana, Iowa, Colorado, West Virginia, Ohio, and New York. Some of the retail sportsbooks may offer similar promotions, while others might not.

A big part of this is that every jurisdiction has its own regulatory structure and some states restrict certain bet types, especially around college sports. These rules can affect which wagers qualify for a promotion, so always be sure to check the terms inside the app for your specific location.

A few state-specific notes worth flagging: the minimum sign-up age is 18 rather than 21 in Kentucky, Wyoming, Washington D.C., New Hampshire, and Puerto Rico. Illinois bettors may see DraftKings pass through a per-wager tax on some transactions. In Kansas, DraftKings operates under a license held by Boot Hill Casino.

The Business Behind the Bonuses

Understanding DraftKings’ size helps explain why promotions are so common.

In 2025, DraftKings reported total revenue of $6.0 billion. Of that, $3.8 billion came from Sportsbook operations alone. The company handled $53.5 billion in sportsbook wagers during 2025, with a net revenue margin of 7.1%.

These numbers show scale and therefore their promotions are not random giveaways. They are part of a customer acquisition and retention strategy. A strong DraftKings promo code offer helps bring in new users, and the daily profit boosts keep existing users engaged.

At the same time, there are some external factors that can influence how aggressive promotions are. Tax structures, like Illinois’ per-wager tax, can affect operator pricing and promotional spending. Regulatory changes can also shift what types of offers are allowed based on where you’re located.

How This Offer Compares to Other Sportsbooks

DraftKings’ $5-to-$200 structure asks for a smaller initial outlay than many competing welcome offers, which often require a larger qualifying deposit or bet to unlock a similar bonus. The trade-off is that DraftKings’ total bonus can run smaller than the very largest headline offers on the market at any given moment. For bettors who’d rather start small and get a feel for a sportsbook before committing more money, that lower barrier to entry is usually the more useful measure than the headline bonus number by itself — worth weighing against whatever FanDuel, BetMGM, or Caesars happen to be running when you sign up.

Here’s how the DraftKings promo code stacks up against the other major sportsbook welcome offers, at a glance:

Offer details and app ratings shift often across the industry — treat this as a snapshot rather than a live feed, and always confirm the current terms directly on each operator’s page before signing up.

Tips for Maximizing Your DraftKings Bonus

A DraftKings promo code can offer some serious value, but only if used thoughtfully.

Because bonus bets return only profit, many bettors prefer using them on wagers with plus-money odds. Sure, that approach can increase potential upside for the outcome, but keep in mind that the higher odds also mean a lower probability of winning. There is always risk.

It also helps to map out how you will use the $25 bonus bets before they expire. When the bonus bets hit your account, you have 7 days to decide. Waiting until the last minute can lead to rushed decisions and a lack of research. For example, let’s say you’re a hockey aficionado and want to bet on NHL games. However, with the players heading to the Olympics, the NHL takes a break for a few weeks. That might leave your bonus bets on hold for a bit or force you to bet on another sport you’re less familiar with.

Also pay attention to the minimum odds requirements on profit boosts. A boost that requires +300 odds will not activate on a -110 bet, so make sure your bet qualifies before hitting the confirmation button.

DraftKings Promo Code FAQ

Do I need to enter a promo code to get the DraftKings bonus?

No. The offer attaches automatically when you sign up through a tracked link. Code BV1 is only needed as a manual backup if the offer isn’t pre-applied at registration.

Is DraftKings legal in my state?

DraftKings Sportsbook operates legally in the states listed above plus Washington, D.C. and Ontario. Check the app at signup — it verifies your location automatically and won’t let you place wagers from an ineligible state.

What happens if my qualifying $5 bet loses?

You still receive the $200 in bonus bets. The qualifying requirement is placing the bet, not winning it — cashing it out early is the only thing that disqualifies it.

Can I withdraw my bonus bets as cash?

No. Bonus bets are single-use and non-withdrawable. Only the profit from a winning bonus-bet wager is credited to your withdrawable balance.

Does the offer work the same way on the DraftKings app?

Yes. The welcome offer, qualifying bet requirement, and bonus bet distribution work identically whether you sign up on desktop or in the mobile app.

What if I don’t use a bonus bet before it expires?

It’s forfeited. Each $25 bonus bet expires seven days after it’s issued, so plan which market you’ll use it on as soon as it lands in your account.

How does the DraftKings app rate compared to other sportsbooks?

Very well. DraftKings holds a 4.8/5 rating on the Apple App Store and 4.7/5 on Google Play across well over a million combined reviews, putting it among the highest-rated major sportsbook apps in the country alongside bet365 and FanDuel.

Responsible Gambling

Sports betting should stay entertainment, not a way to chase losses or solve money problems. If it stops feeling that way, help is available.

These Are the Best DraftKings Promo Code Offers

DraftKings promotions are structured, detailed, and heavily regulated. The current welcome offer gives new users a chance to turn a $5 bet into a trove of bonus bets, regardless of whether that wager wins, and ongoing profit boosts, such as 30% NBA SGP boosts and 20% any-sport boosts, can bump up the payouts for active bettors.

The key is understanding the mechanics of these bonuses because minimum odds apply, tokens must be selected, bonus bets expire, and stakes are not returned.

The last tip we will leave you with is to start every in-app session on the promos page. Oftentimes, you are opening the app to build a parlay or SGP and you could find a 30% (or more) profit boost waiting for you.

A DraftKings promo code is not just a marketing phrase. It is a tool. Used carefully, it can increase potential value. Ignored or misunderstood, it can unfortunately lead to missed rewards.

Claim the DraftKings Welcome Offer →