Draftkings Sportsbook

We recommend choosing an online sportsbook that is fully licensed and regulated, with a reputation for providing prompt payouts and treating customers fairly. This DraftKings review will explain the security measures on offer and delve into this brand’s reputation. 

What is DraftKings?

DraftKings was launched as a Daily Fantasy Sports brand in 2012, so it is now more than a decade old. A group of businessmen in Boston created DraftKings, and they are still running the company to this day.

It moved into sports betting in 2018 after the US Supreme Court ruled that the long-standing Professional and Amateur Sports Protection Act of 1992 was unconstitutional. DraftKings Sportsbook launched in New Jersey, become the first legal sports betting app in the Garden State.

Since then, DraftKings has expanded across the country, and the sportsbook is now available in:

• Arizona
• Colorado
• Connecticut
• Illinois
• Indiana
• Iowa
• Louisiana
• Michigan
• New Hampshire
• New Jersey
• New York
• Oregon
• Pennsylvania
• Tennessee
• Virginia
• West Virginia
• Wyoming

It also runs an online casino in some states, along with an NFT portal.

Is DraftKings a Legit Betting Site?

DraftKings is a legit operator. It has been running DFS contests for more than a decade, not only in the US, but also in countries such as the UK and Canada.

It initially teamed up with Kambi to launch an online sports betting app. However, DraftKings then merged with another sportsbook provider, SBTech, in 2020, as part of a SPAC deal that saw it listed on the Nasdaq. The DraftKings betting site now runs on in-house technology from SBTech.

Is DraftKings a Safe Betting Site?

We rate DraftKings as one of the safest online sportsbooks. All confidential information is safeguarded by the best Secure Layer Socket available, and your details will always be encrypted.

It also provides a range of tips to help you stay safe. DraftKings urges you to change your password every few months, never share it with anyone, do not use it on multiple sites, create strong passwords, sign out of your account if you are using a shared computer, and keep your antivirus software up to date. That is all very sensible advice.

What Deposit Options Does DraftKings Provide?

DraftKings offers very secure deposits. All the main credit and debit card brands are accepted – Visa, Mastercard, American Express and Discover – and there is also a DraftKings Play+ card that you can sign up for.

If you would like to use an e-wallet, PayPal is the only option, as DraftKings does not work with Skrill. E-check, wire transfers and bank transfers are available too. You can pay in cash at the casino cage in some states, but DraftKings is the only major US sportsbook that does not work with PayNearMe.

All deposits arrive straight away, and you won’t be charged for deposits. The minimum is just $5, and the maximum varies according to the method chosen.

How Are Withdrawals Processed at DraftKings?

One drawback is that DraftKings is slow to pay customers their winnings. It requires you to wait for up to five business days for a payout request to be approved. Then you need to wait for the funds to wing their way over to you, so you may be waiting for more than a week to get your money.

That does not compare favorably to the likes of BetOnline, which often send you the money on the same day your request it. DraftKings may sell NFTs, but it does not accept crypto payments, so that is not an option for funding your sportsbook account.

Your options are Play+, PayPal, bank transfer, e-transfer, wire check or a paper check in the mail. You can withdraw any amount from $1 to $100,000, which is very broad.

What Welcome Bonuses Does DraftKings Offer?

The most common DraftKings welcome bonus is a 20% deposit match of up to $1,000. This is one of the least appealing bonuses on the market. You need to deposit $5,000 of your own money to qualify for the full $1,000. It also has a 25x release requirement, so you would need to place $25,000 in bets just to get $1,000.

DraftKings seems to know that this is a poor bonus, so it often chucks in a free bet as part of the deal. For example, it was recently offering an additional $50 free bet, which had just a 1x rollover requirement, but not at the time we wrote this review.

DraftKings also mixes it up by offering extremely generous sign-up bonuses in the short-term basis. For example, leading up to Super Bowl 56, it allowed anyone to bet $5 at odds of 56/1 (+5600) on either team winning the game. You could therefore have wagered $5 on the Rams to beat the Bengals and earned $280.

The $280 was paid in site credit as seven free bets worth $40 each, but they had just a 1x rollover requirement, so it was a great bonus. It runs lots of short-term bonuses like that, so you should try to avoid the 20% deposit match and hold out for something better at a later date.

What Loyalty Bonuses Do DraftKings Customers Receive?

DraftKings does not offer much in the way of additional bonuses. There is a refer a friend offer, and you can enter pools that offer prizes each day, but that’s about it.

The loyalty program is called Dynasty Rewards. You earn points, which it calls crowns, for placing bets at DraftKings Sportsbook or DraftKings Casino, or for entering DFS contests.

As with any loyalty scheme, these points can be exchanged for free bet credits when you earn enough of them. You get one crown for every $2 wagered, and you need to earn 550 crowns to receive a DK Dollar, which is $1 in free bet credit, so the redemption rate is a slightly underwhelming 0.091%.

What Sports Does DraftKings Feature?

As we mentioned earlier in this review, DraftKings uses the SBTech platform, which features a lot of sports. SBTech also runs sites like Betway.

Football fans can bet on NFL, college football and CFL games at DrafKings. It often has upwards of 100 lines on a single game. The same is true of basketball games. You can bet on NBA, college basketball, WNBA and various leagues in Europe and Asia. The hockey and baseball sections are thorough too.

DraftKings is great for soccer, as it has competitive lines, lots of betting options and a ton of leagues featured. It also takes bets on tennis, golf, MMA, NASCAR, Formula 1, boxing, cricket, darts, handball, lacrosse, cycling, rugby, snooker, table tennis and winter sports.

What Wagering Options are Available at DraftKings?

You can bet sides, totals, moneylines and props on sports games at DraftKings Sportsbook. It provides a long list of alternative spreads and another list of alternative totals for you to check out, so you do not need to actively buy or sell half-points.

There is a great tool that allows you to build same game parlays on the major sports too. DraftKings offers loads of futures betting options. It has a casino and a DFS site in some states too, so the list of wager possibilities each day is very long.

Does DraftKings Provide Live Betting?

DraftKings has a vibrant live betting section. It does not cover as many live events as rival sites such as FanDuel and BetMGM, but you’ll still be able to bet in-play on all the biggest sporting events of the day.

It has an impressive selection of live betting options on each game too. The live betting section is easy to navigate, which is important for in-play wagering, as you need to move quickly before the lines change.

Does DraftKings Have a Casino?

DraftKings has a great online casino. At the time of this review, it contained 607 slots and 75 table games, making it one of the largest casino apps available. The games are from very respectable software houses too, such as NetEnt and IGT.

Another feature is the breadth of exclusive games. You will find 46 different DraftKings branded games, including slots, American roulette, European roulette, classic blackjack, multihand blackjack, single deck blackjack, baccarat and craps. There are lots of table games tied to sports too such as DraftKings Football Blackjack and DraftKings Basketball Blackjack, many of which have jackpot features.

It is easy to find your way around the casino, as the online navigation system is sensible and it has lots of helpful shortcuts and sub-sections. There are tons of casino promotions too, including leaderboard contests and prize draws offering millions of dollars in monthly prizes. If you register for a casino account, you’ll be given a $60 free bet. It then gives you a 100% first deposit match up to $2,000, along with another $25 in free bet credit. The bonus funds have a 15x rollover, although only slots count 100%.

What Special Features Does the DraftKings Site Include?

DraftKings offers a cash out feature and a great same game parlay builder. It has provided live streaming in the past too. You will also find editorial content at DK Nation, including previews, picks and news.

What are the Key Strengths of DraftKings?

DraftKings has a wonderful mobile app. It is attractive, easy to use and ultra-reliable. This is a very safe and secure way to bet on sports.

You can bet on lots of sports, and the odds are reasonably competitive. There are -110 lines on most NFL and NBA totals and sides, and DraftKings often provides great odds on props and same game parlays.

There are lots of deposit methods available, and the minimum deposit of $5 is perfect for low-stakes bettors. Some sportsbooks make you deposit a minimum of $20 or $50, so a $5 minimum is great.

DraftKings also regularly runs amazing sign-up offers. It is hard to see it making any money when it runs such generous promos. The company is interested in growing market share, and it is not currently profitable, so take advantage while you can.

What are the Weaknesses of DraftKings?

DraftKings is slow to pay out. A waiting period of up to five business days for payout requests to be processed is poor. A five-day wait is not always the case, as we have received quicker payouts than that, but it is still slower than many competitors.

The main welcome bonus from DraftKings is weak. Do not claim it, as a far more generous short-term offer is always around the corner. It provides fewer promotions and odds boosts than its competitors too.

Customer service is another weakness. The best online sportsbooks provide customer service 24 hours a day, and you can call or use the live chat feature, but DraftKings does not provide either option, and it is slow to respond to requests for support.

Is DraftKings a Reliable Online Sportsbook?

In lots of ways, DraftKings is a very reliable sportsbook. It is a legit company, based in Boston and listed on the Nasdaq, and it is licensed and regulated in lots of states. It pays customers out what they are entitled to, with no issues and essentially checks all the boxes of a reliable online sportsbook.

The only mark against DraftKings is a widely reported comment that CEO Jason Robins gave in 2021. “This is an entertainment activity,” Robins said. “People who are doing this for profit are not the players we want.”

He has since tried to clarify and reel back those comments, but they are out in public. If you are trying to earn a profit while betting on sports, you are not necessarily welcome at DraftKings, which goes somewhat against the ethos of using an online sportsbook in the first place.