DraftKings Sportsbook Review for 2024

DraftKings: Betting Overview

With such an extensive list of sports offered, you can expect an exciting betting experience at DraftKings. No need to struggle with transactions, as the sportsbook supports many of the famous banking options. Currently, DraftKings is available in 20 US states, with an expected broader expansion in the future.

Since its establishment in 2012, DraftKings has been fixed on becoming the most popular sportsbook in the US. So many rivals, but DraftKings’s innovative approach makes it a worthy competitor.

The withdrawal process is relatively fast at DraftKings, ranging from 48 hours to 5 banking days, depending on the option you choose. As a new user, with a minimum deposit of $5, you’re eligible for bonus bets in the amount of $150. Moreoever, DraftKings has set a minimum deposit requirement for its users, and while many enthusiasts flock to the site for its diverse range of sports options, it's noteworthy that cycling bettinghas seen a significant surge in popularity, drawing both seasoned bettors and newcomers alike to place their wagers on thrilling bike races from around the world.

DraftKings Pros and Cons

Based on our research, here’s what we consider to be the pros and cons of DraftKings.

We found that DraftKings allows you to play in many free contests before you top up your account. That means you don’t have to pay right away. With a license held in over 20 states, security will never be an issue with DraftKings.

DraftKings Is Best for…

• Daily fantasy sports lovers

• Players that appreciate loyalty programs

• Players who prefer a user-friendly platform

• Players who enjoy betting contests

Which States Is DraftKings Legal in?

When talking about the DraftKings state availability, the DraftKings sportsbook is currently open in 20 states in the US. However, the online gambling option is only available in 5 states. Retail sports betting and gambling will soon launch in Arizona, Indiana, Michigan, and Massachusetts.

DraftKings Rewards, Promotions, and Bonuses

Even though the welcome bonus is not as high as that in other operators, DraftKings doesn’t fall short in providing regular bonuses and rewards for its players. Check out the pros and cons regarding DraftKings promotions.

DraftKings Bonuses and Promotions

DraftKings current bonus offers are good, albeit not the best. Each promo has its separate T&Cs. For example, new bettors must be over 21 and physically located in one of the available states.

As we mentioned above, DraftKings falls short when it comes to sportsbook promotions. For more options, visit our guide on the best betting sites with free bets.

Reward Programs

Besides these DraftKings bonuses, you can also get daily rewards with DraftKings Dynasty Rewards. This means you’ll earn Crowns and Tiers for every dollar spent on DraftKings products. The program also provides access to exclusive promotions, monthly Crown accrual boosts, weekly prize chests, access to live betting, and VIP hosts.

Other Promotions

Here are some other promotions at DraftKings you can check out:

• Receive a 50% Profit Boost on any MLB HR Derby Bet

• Refer a Friend and Get a Bonus Bet of up to $100

• Clam a Free Reignmakers PGA Tour Starter Pack for a chance to win a share of $750,000 in total prizes

• Enter the Portfolio Gated Contests to win a BMW Championship VIP Package

• Collect Reignmaker UFC player cards throughout the season to score points in the $25K Weekly Reignmakers Franchise Score

How to Open an Account With DraftKings?

If you find that DraftKings is the right fit for you, all that’s left is to open an account. The registration process is quite easy and can be done within minutes. Don’t try to open multiple accounts—DraftKings allows only one account per person.

Check out the step-by-step guide to opening an account with DraftKings.

Step 1: Sign up

Open the official website of DraftKings and click on Sign Up.

Step 2: Enter Your Details

Provide a unique username, email address, and mobile number, and create a strong password.

Step 3: Click Create Account

Once you’ve made sure you’re eligible to play and have filled in the blanks, click on Create Account.

Step 4: Verify and Register

You’ll be asked to provide your home physical address, full name, and date of birth for additional verification. To complete the registration, you’ll be asked to provide a copy of your ID and utility bill.

DraftKings Banking, Deposit, and Withdrawal Methods

Is There a Minimum Deposit to Bet at DraftKings?

Yes. You must make a minimum deposit of $5 to play at DraftKings. If you’re depositing through a wire transfer though, that'll amount to $100.

DraftKings Deposit Options

DraftKings offers just enough deposit methods to suit everyone’s needs. Remember that the payment method must be registered in your name.

Online Banking

Transferring funds directly from your bank to your DraftKings account can be done through online banking. It’s a secure and convenient option, considering the minimum deposit amount of $5 and the non-existent fees. This option doesn’t apply to daily fantasy sports.

VIP Preferred

VIP Preferred allows you to link your bank account to your DraftKings account. Both deposit and withdrawal are normally quite fast, and the process itself is very straightforward. Like online banking, VIP Preferred only applies to sports betting and gambling.

PayPal

You can easily deposit funds by linking your PayPal to your DraftKings account with a minimum deposit of $5. Players can use it for sports betting, gambling, and daily fantasy sports deposits.

Credit and Debit Cards

The official website of DraftKings states that these types of deposits are only available via pre-purchased gift cards. This implies that you can use a gift card from specific brands to fund your betting account.

Electronic Gift Card

Depositing funds to your DraftKings account with a pre-purchased electronic gift is available through Visa, MasterCard, American Express, or Discover gift cards.

Cash

The best thing about this deposit method is that there’s no minimum withdrawal requirement. At DraftKings, depositing with Cash can only be done for sports betting and gambling purposes via barcode at specific retail locations.

Venmo

Venmo is available for daily fantasy sports deposits. However, it can only be used through the mobile app and for mobile-related deposits. The minimum deposit amount is $5, and you won’t be charged any fees.

Wire Transfer

With so many fast and convenient payment methods, wire transfer is definitely not on top of the list. Considering the minimum deposit for a wire transfer at DraftKings is $100, and the minimum withdrawal is $20,000, it’s not the most practical option for the majority of players.

How to Deposit Funds to DraftKings

Once your account is all set, you can start your betting journey by making your first deposit.

Step 1: Log in

Log in to your DraftKings account via mobile, tablet, or laptop. Enter the deposit section and choose one of the available deposit methods.

Note: Available payment methods vary depending on jurisdiction.

Step 2: Complete the Deposit

Select the amount you wish to deposit and fill in the payment details. Approve the transaction to complete the deposit.

DraftKings Withdrawal Options

DraftKings offers several withdrawal options. Most of them wrap up the process in 2 days, but some may take up to 5 days.

Online Banking

With this method, bettors will have to wait up to 5 days to receive their winnings. However, the minimum withdrawal is $1, making it an available option.

VIP Preferred

This method has a withdrawal time of up to 3 days, with a minimum limit of $1. There are no fees tied to it.

PayPal

Regardless of where you’re playing at DraftKings (casino or sportsbook), you can withdraw your funds using PayPal. It will only take up to 2 days and a minimum of $1.

Debit Card

Debits cards take only 1 day to bring your winnings to your account. The minimum withdrawal is $1.

Cash

The fastest cashout method at DraftKings is Cash. There is no minimum withdrawal limit, and the funds arrive in 1 hour.

Venmo

Similar to PayPal, bettors can use Venmo to take out their wins.

Play + Prepaid Card

With this option, there are no limits to how much you can withdraw. However, the time to transfer your wins may take up to 4 days.

Wire Transfer

Interestingly, the withdrawal time frame of this method is only 2 days. But there is a high takeout limit—$20,000.

How to Withdraw Money From DraftKings

Here’s a simple guide to help you easily withdraw your funds.

Step 1: Log in

Log in to your DraftKings account, click on your profile photo in the top left corner, and find the withdraw section.

Step 2: Choose Your Withdrawal Method

Choose your preferred withdrawal method, which normally should be the one you used for depositing.

Step 3: Request Withdrawal and Wait

Enter the amount you wish to withdraw and fill in the withdrawal details. Tap Request Withdrawal and wait for the funds to be processed.

How Long Does it Take to Withdraw Money From DraftKings Before It Hits My Account?

Regardless of when you request a withdrawal, DraftKings will process it between 9 am and 5 pm. You might wait up to anywhere between 1 hour and 5 business days, depending on your chosen method. Keep in mind that this might take longer during the holidays.

DraftKings Sportsbook Review

There are over 20 different sports to bet on at DraftKings Sportsbook. You can even engage in daily fantasy sports and live betting. Plus, several sports-related promotions at DraftKings could help ease you in.

Sports Betting

With more than 20 sports available, you’ll easily find your favorite to bet on. Football is the most popular sport among bettors, and DraftKings definitely doesn’t disappoint in its football betting offerings.

DraftKings has partnered with various NFL teams, so it’s only natural to find competitive NFL odds in this sportsbook. You can choose from different betting types, including money line, point spread, prop bets, parlay betting, etc. Here is how the DraftKings sportsbook compares to other brands:

Daily Fantasy Sports

For all adrenaline seekers, DraftKings has the right offering—daily fantasy sports. Create your dream team of athletes and compete against other teams to win handsome prizes. There are also free contests available.

You can choose from various sports, including football, basketball, baseball, hockey, etc., so you can always expect a thrilling DFS matchup. This is how this section compares to other brands:

DraftKings Design and Layout

DraftKings’ website is certainly one of the things that set it apart from its competitors. The menu is well-organized, helping you to navigate through it easily. The website, as a whole, is designed with simplicity in mind.

DraftKings also strives to promote non-intrusive ads. However, according to customer reviews, the ads shown on the sports betting sitecan sometimes be misleading. But when everything else is near perfection, this doesn’t drastically affect the overall design and layout.

Who Is DraftKings Best for?

DraftKings is best for those bettors that want to slowly ease their way into gaming. As the promotions are not the best ones out there, newbies may not get a stellar entrance right off the bat. However, many regular promotions can help you boost your winnings, especially in the daily fantasy section. Also, DraftKings is famously known for being one of the best super bowl betting sites.

Does DraftKings Have an App?

DraftKings does have a mobile app available for both iOS and Android users. Even though there were instances when the app was slow at times, it has a positive customer rating overall. The app is as similar as it can get to its original desktop version, so you won’t even notice the difference.

DraftKings Desktop Overview

DraftKings also offers a fully functional desktop version of its website. You can access it through a computer, laptop, or tablet. There is also an option to download a desktop app.

DraftKings Customer Service Detail

DraftKings customer support offers several means to reach out.

Live Chat

The live chat is available 24/7, offering direct contact with a support agent.

Web Form

There’s also a web form you can fill out. However, you may need to wait up to 48 hours for an answer.

Email

Every section at DraftKings has its separate email address. Here is a table of each one:

DraftKings Customer Satisfaction in the US

Let’s see how DraftKings is rated on Trustpilot and the app store.

DraftKings Reviews From Trustpilot

Surprisingly, the reviews on Trustpilot are not as positive as we expected. We’ve summarized users’ satisfaction in the following table:

App Store Reviews Online

DraftKings has a rating of 4.8 out of 5 on the App Store and 4.6 stars on Google Play Store. Considering that there is no comments section in the stores, we can only base our knowledge on the provided ratings, which indicates that most users were satisfied with their experience.

DraftKings Safety and Security for Bettors

DraftKings holds a license in every state where it operates. It also employs SSL encryption and maintains a comprehensive security program.

DraftKings Responsible Gambling Measures

The DraftKings responsible gambling measures in place promote a safe and secure betting experience for its users.

Self-exclusion

Allows players to exclude themselves from all DraftKings products.

Deposit, Wagering, and Time Limits

You can limit the amount you deposit in a certain period of time, how much you wager in a game, or control the duration of the playing sessions.

Gambling Education

DraftKings provides additional gambling education to help you make informed decisions.

DraftKings KYC Process

It’s not always that DraftKings will ask you to provide additional documents to verify your account. But if they do, you may be asked to provide proof of ID, such as your driving license or a utility bill. The KYC procedure takes around 24 hours.

Anything Hidden in the Terms and Conditions With DraftKings?

Before depositing, thoroughly review the DraftKings T&C. DraftKings doesn’t hide anything from its users—what you see is what you get.

DraftKings Background & Overview

Founded in 2012, DraftKings has a long-standing experience in the betting market. It operates as a private company and is regulated by the New Jersey Division of Gaming Enforcement. Currently, it holds licenses in more than 20 states in the US, and its online and physical presence is continually expanding.

The company is based in Boston, Massachusetts. DraftKings has even partnered with NFL, NHL, PGA Tour, and UFC to show its commitment to the sports industry.

Alternative Sites to DraftKings

Naturally, there are some alternatives to DraftKings and we will always offer alternative reviews of sports betting sites. Here is what our team summarized:

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Is DraftKings a Good Choice for You?

Based on our research, we can safely say that DraftKings is a good choice for the majority of bettors. However, those interested in daily fantasy sports will find it particularly attractive due to its extensive selection of contests. You have to try it out to make your decision, and according to what we witnessed, DraftKings is definitely worth trying.

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