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DraftKings Still Offers $200 Bonus for New Users in 2026

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  Published in Sports and Competition on Friday, February 27th 2026 at 22:03 GMT by CBSSports.com
      Locales: UNITED STATES, CANADA

Saturday, February 28th, 2026 - The sports betting landscape continues to evolve, but DraftKings Sportsbook remains a dominant player, largely thanks to consistently attractive promotional offers. Currently, new users can still claim a significant bonus: bet just $5 and receive $200 in bonus bets. But in a crowded market, how does this offer stack up in 2026, and is it still the best way to kickstart your sports betting journey?

The Offer: A Deep Dive

The core of the promotion is deceptively simple. New users who sign up for a DraftKings account and place a minimum $5 wager receive $200 in bonus bets. This represents a 40x return on investment - for every dollar wagered, you get $40 back in bonus credit. It's a headline-grabbing deal designed to attract new customers and encourage initial engagement. However, the devil, as always, is in the details.

How it Works (and What You Need to Know)

Claiming the bonus is straightforward:

1. Account Creation: Visit the DraftKings website or download the app and create a new account. Crucially, ensure you use the valid DraftKings promo code during the registration process. These codes are frequently updated, so always check the latest offerings directly on DraftKings' promotions page. As of today, the standard code remains widely advertised, but that could change.
2. Initial Deposit: You'll need to make a minimum deposit to fund your $5 wager. DraftKings typically accepts a variety of payment methods including credit/debit cards, PayPal, and bank transfers.
3. Qualifying Bet: Place a $5 wager on any sporting event. This is a key point - the market is wide open. Whether it's NFL, NBA, MLB, NHL, or even more niche sports like table tennis or darts, your bet qualifies. The odds of the bet do not appear to have any minimum requirement.
4. Bonus Crediting: Once your $5 wager settles (win or lose!), DraftKings will automatically credit your account with $200 in bonus bets. These are typically distributed as multiple smaller bet credits, allowing for strategic wagering across a wider range of events.

Bonus Bet Restrictions: The Fine Print

It's essential to understand the limitations of these bonus bets. They are not withdrawable as cash. Think of them as free entries into future wagers. Any winnings derived from the bonus bets are withdrawable, but the original bonus amount itself cannot be cashed out. Furthermore, bonus bets often have a time limit - typically 30 days - within which they must be used. Failing to meet these terms will result in the forfeiture of the bonus credits. Always read the full terms and conditions on the DraftKings website; they are subject to change.

DraftKings vs. the Competition: 2026 Landscape

In 2026, DraftKings isn't operating in a vacuum. FanDuel, BetMGM, Caesars Sportsbook, and a host of regional operators all vie for market share. While many offer introductory bonuses, they often take different forms:

• First Bet Insurance: Some competitors offer to match your first bet up to a certain amount if it loses, providing a safety net rather than guaranteed bonus funds.
• No-Deposit Bonuses: A few platforms offer smaller bonuses simply for signing up, without requiring an initial deposit. These are less common for larger bonus amounts.
• Odds Boosts: Frequent promotions include enhanced odds on specific events, increasing potential payouts.

Compared to these options, the DraftKings $200 bonus remains highly competitive due to its sheer size. The 40x return is difficult to beat. However, the reliance on bonus bets, rather than direct cash or insurance, is a common characteristic across most sportsbook promotions.

Is It Worth It in 2026?

For a new sports bettor, the DraftKings $200 bonus is an excellent starting point. It provides a substantial cushion to explore different betting markets and strategies without risking a significant amount of personal funds. Even experienced bettors may find value in utilizing the bonus bets to experiment with more ambitious wagers.

However, responsible gambling is paramount. Don't be lured in by the promise of easy money. Treat the bonus bets as a form of entertainment and always bet within your means. With careful planning and informed wagers, the DraftKings promo code can undoubtedly enhance your sports betting experience in 2026.