Edited by Scott Patsko, Cleveland.com Night Sports Manager
Timing is everything. So, when DraftKings became a publicly traded company on the Nasdaq stock exchange on April 24, 2020, some questioned the strategy. The global pandemic was about six weeks old, and most sporting events were on indefinite hiatus.
Despite the immediate financial and logistical challenges, DraftKings’ stock price opened at $20.49 and soared as high as $74.09 within its first year.
It remains a popular investment in the gaming and tech industry, while DraftKings Sportsbook’s reputation is as strong as ever. One reason is the DraftKings promo code (no code required), which allows new users to get a $200 bonus if they win their first bet.
Our DraftKings Sportsbook review highlights what the operator offers, explains welcome bonuses, banking options and customer support contact information. By the end, you’ll understand why DraftKings is one of the best Ohio online sportsbooks.
DraftKings Sportsbook overview
Those interested in learning more about DraftKings Sportsbook can check out the summary below. My favorite feature is the welcome offer, which greets new customers with a $200 bonus if you win your first $5 bet.
| 👑 DraftKings Ohio | Details |
|---|---|
| 🚀 Launch date | January 1, 2023 |
| 🎁 Welcome bonus | Bet $5, get $200 in bonus bets if you win your first bet |
| ✍️ Promo code | Not required |
| 📱 Mobile apps | iOS and Android |
| 💳 Minimum deposit | $5 |
| 💸 Payout time | 24-hours-or-less |
| 🏈 Live betting available | Yes |
| 📞 Customer service options | Live chat, email, phone callback and X (formerly Twitter) @DK_Assist |
Pros & cons
What I like best about DraftKings Sportsbook is that it didn’t rest on its laurels as it evolved from a daily fantasy sports destination to a real-money sports betting app.
The mobile experience is second-to-none, and the ease of navigation around the app will be appreciated by new bettors and those learning how to read betting odds.
The wide range of bonuses and promotions is the cherry on top as both sign-up offers and in-game promotions include boosted odds, bonus bets and a loyalty rewards program.
If you ever need to know the latest offer for DraftKings and all other sportsbooks in your area, check out the best Ohio sportsbook promos.
DraftKings’ investment in live streaming sporting events within the app has been limited to date. This should be an enhancement they look to capitalize on down the road if they want to keep pace with FanDuel and others in the space.
| ✅ DraftKings pros | ❌ DraftKings cons |
|---|---|
| Elite sports betting app | Promos could be better for existing customers |
| Uber-fast payouts | Limited live video streaming capabilities |
| Wide range of betting markets | Bonus offers decrease during summer months |
| Refer-a-friend bonus | No search function on the desktop site |
Mobile app experience
Downloading and signing up for the DraftKings Sportsbook app takes less than five minutes. With several banking options, making a first-time deposit is also seamless once you sync your preferred banking method to your account wallet.
From there, new customers will enjoy the app’s smooth navigation. Bounce around and check out different betting markets in a flash, and be sure to scroll through all the ongoing promotions and bonus offers.
Gaining access to public betting trends is an underrated feature of the DraftKings app. Just click on any game to see the betting splits for the moneyline odds, point spread and over/under.
If you have a problem, head to the account settings and visit the help center. Live customer support chat is available right in the app.
DraftKings welcome bonus and promotions
Keep your head on a swivel because DraftKings Sportsbook is known for regularly updating welcome bonuses and existing user promotions. The current DraftKings sign-up offer for new customers is bet $5, get $200 in bonus bets if they win their first bet (min. -500 odds, so -125 is eligible, -800 is not).
How do bonus bets work?
Bonus bets are equivalent to playing with house money. They carry no cash value, so if you wager with a bonus and lose, there’s no monetary loss.
If you wager with a bonus and win, you receive a cash payout. Bonus bets are perfect for new sports bettors who want to learn the ropes without the risk of losing cash.
However, you only get the payout if you place a bet with bonuses and win. When you wager with cash and win, you get your stake back plus the payout.
Bonuses expire seven days after issuance, so be sure to use them before they vanish.
DraftKings promotions for existing customers
After logging in, I see a variety of promos at the top of my screen, including odds boosts, bonus bets and no-sweat bets for select sports.
There are also DK crown and dynasty rewards that can be cashed in for bonus bets once enough points are accrued.
| 🎁 DraftKings existing user promos | Description |
|---|---|
| 💸 Early Exit | If you bet a player prop and your player exits in the early portion of the game due to injury, DraftKings refunds your stake in cash. This offer is only available for select markets. |
| 🏈Touchdown Draw | Predict which NFL players will score a touchdown and earn rewards if your players punch it in for six. |
| ⚾ MLB parlay boost | Apply a boost token to your next MLB parlay, same-game parlay or SGPx. If the bet hits, your cash winnings increase. |
| ⚽ MLS Season Pass | Bet $5 on soccer to score a subscription to MLS Season Pass, allowing you to watch every game. |
Deposits and withdrawals
DraftKings Sportsbook and sports betting app accept the lowest minimum deposit of any online operator at just $5.
If you dabble with wire transfers, you’re looking at a minimum deposit of $100. Just remember, it’s best to sync your deposit method with your preferred withdrawal method for seamless banking when you’re ready for a payout.
| DraftKings deposit options | Minimum deposit |
|---|---|
| Online banking | $5 |
| ACH bank transfer | $5 |
| Apple Pay | $5 |
| Venmo | $5 |
| PayPal | $5 |
| Wire transfer | $100 |
While DraftKings’ payout schedule ranges from 1-3 business days, I’ve received my payout via PayPal within 24 hours every time. The flexibility to process withdrawals via PayPal and Venmo is another reason their app ratings on iOS and Android are so high.
| DraftKings withdrawal options | Payout time |
|---|---|
| PayPal | 1-2 business days |
| Online banking | Less than 24 hours |
| Debit card | Less than 24 hours |
| Apple Pay | Less than 24 hours |
| ACH eCheck | 2-3 business days |
| Venmo | 1-2 business days |
| Wire transfer | 1-2 business days |
| Check | 7-14 business days |
Some of the withdrawal options listed above are only available if you’ve used the same method to process a deposit.
DraftKings customer support
Those new to sports betting are bound to have questions, and DraftKings’ dedicated customer support team is available 24/7.
You can reach them in many ways:
- Live chat (best option)
- Email: support@draftkings.com
- Phone: Customer service will schedule a callback
- X: @DK_Assist
DraftKings Sportsbook FAQs
Is DraftKings sportsbook legal in Ohio?
Yes, DraftKings sportsbook and sports betting app launched on January 1, 2023.
What is DraftKings best known for?
DraftKings was best known for its innovative daily fantasy sports products nearly a decade ago. DK has evolved into an industry leader in sports betting, horse racing betting and online casino gaming.
Do you win real money on DraftKings?
Yes, you can win real money with DraftKings Sportsbook. Payouts typically take 24 hours or less once approved.
What is DraftKings’ new customer welcome bonus?
The current DraftKings sign-up offer is bet $5, get $200 in bonus bets if you win your first bet. No DraftKings promo code is required during registration, and the bonus is sent no matter the result of your qualifying wager.
What is the minimum deposit on DraftKings Sportsbook and sports betting app?
The minimum deposit at DraftKings is just $5 - the lowest in the market.
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