DraftKings Sportsbook Review 2023 – Sports Betting Leader

review-rating
The sports betting industry is booming, and it would be hard to say that DraftKings Sportsbook hasn’t been leading that charge.
8/10
Cost
8/10
Features
9/10
Services
9/10
Ease of use
8/10
If you’re a sports betting fan and can trust yourself to place bets on the outcome of various games responsibly, then sports betting apps can be a great way to heighten the enjoyment of an already fun pastime. 
​​One of the biggest names in online sports betting is definitely Draft Kings. With a user-friendly interface on Android and iOS and a sign-up bonus for new customers, Draft Kings’ online sportsbook is a popular option for betting on a wide range of sports. From big leagues like the MLB, NBA, NFL, and NHL to other sports like tennis, lacrosse, and boxing, Draft Kings offers a sports bettors paradise. Learn more about the ins and outs of Draft Kings Sportsbook in this review of the platform.

What is Draft Kings Sportsbook?

You’ve probably heard of DraftKings if you’re interested in fantasy football, as they began as a daily fantasy sports website. DraftKings was founded in ​​2012 by Jason Robins, Matt Kalish, and Paul Liberman to offer daily fantasy sports-related events and contests with the chance for users to win cash prizes for playing. However, they’ve now branched out to offer legal sports betting on an extensive list of sports. 
DraftKings Sportsbook was officially launched in 2018 in New Jersey and has since become an industry juggernaut in the sports betting field. Although DraftKings is based in Boston, they offer sports betting on events worldwide, including the major United States sports leagues, and live betting during events.

How does Draft Kings Sportsbook work?

Creating an account

The sign-up process for creating an account with Draft Kings Sportsbook is pretty straightforward. For starters, you’ll want to navigate to draftkings.com. From there, just click on the big green button that says “Join.” As you can see, when you make your first deposit (with a minimum deposit of $5), you’ll be able to receive up to $150 in bonus bets.
DraftKings Sportsbook Review 2023 – Sports Betting Leader
After clicking “Join,” you’ll be asked to fill out some personal information. You’ll start by creating a username and entering your email address. You’ll also create a password during the first stage of registration and can enter a promo code if you have one to use. Finally, you’ll want to agree to DraftKings’ terms of service.
DraftKings Sportsbook Review 2023 – Sports Betting Leader
Next up, you’ll need to verify your information for security purposes. This includes sharing your first and last name and your date of birth, address, and the last four digits of your social security number. 
You may also need to take extra steps to verify your account and identity. Again, this is for security purposes and to ensure that you abide by local regulations regarding online betting. Scanning your Driver’s License allows you to get instant approval.
DraftKings Sportsbook Review 2023 – Sports Betting Leader
After you’ve confirmed your identity, you’ll also need to re-confirm your location. This is to help ensure that you’re participating on the platform properly and to maintain game integrity. For example, if you live in Illinois, you are in a bit of a different boat because DraftKings is connected with Casino Queen to run.

How much does Draft Kings Sportsbook cost?

What you spend on DraftKings Sportsbook depends on the betting options you like and what you wind up doing. To get started, you must make a minimum deposit of at least $5. To get the best bonus offer when you get started, you’ll need to make a larger first deposit; however, your deposit is up to you.

Bonus offers

As mentioned above, taking advantage of bonus offers is completely up to you. While the deposit bonus changes every so often, currently, you can get a $150 bonus bet with a $5 deposit. If you’d like to get an even better deal, you’ll need to deposit more money — since DraftKings offers a deposit match of 20% up to $1,000. While casual sporting events watchers may not want to dive in this deep immediately, more serious sports bettors will appreciate the 20% match.

Deposit options

One of the biggest perks of DraftKings Sportsbook is depositing money quickly and efficiently. Sportsbook offers a wide range of banking options to fund your account and get betting, including:
  • Debit card
  • Credit card
  • Bank account transfer
  • PayPal
  • PayNearMe Kiosks (generally located in 7-11 convenience stores)
  • Play+ prepaid card (a special prepaid card offered by DraftKings Sportsbook)

DraftKings Sportsbook features 

Bet types

Many of the bet types available in DraftKings Sportsbook will be familiar to sports bettors, including money-line bets (a simple bet on who will win the game), prop bets (also known as proposition bets about events that may occur during the game, such as how long a player will be on the field or how many baskets someone will score), and parlays (multiple wagers tied to the same bet). Sportsbook also offers futures, spreads, and teaser bets.
However, there are two other special kinds of betting that DraftKings offers that are particularly worth highlighting. These are Sportsbook’s in-play bets, as well as betting pools.

In-play/live betting

Live betting isn’t completely unique to DraftKings Sportsbook — but DraftKings does offer a much higher volume of in-play bets than other betting options. They offer hundreds of live bets on games each week, meaning it’s easy to up the ante and the fun when watching a game live. When you place a bet live, you’ll also get a lot of data to help inform your bet since the odds will change in real-time.

Betting pools

Sportsbook Pools are a fun way to add even more competition to betting through leaderboards and public or private pools — with big cash prizes. You’ll start browsing the lobby to find a contest style that speaks to you. You can even create a pool for friends, family members, or coworkers. Some pools have entry fees, although most are free. Each pool is a fixed price point bet where winners’ payouts are determined based on the number of other entrants.

Odds boost

If you’re interested in improving your odds of winning a bet, then odds boost tokens may be something you want to use in your betting. In some situations, odds boost through DraftKings Sportsbook make it so that you may have a better chance of winning vs how much stake you have in the bet. However, odds boosts are generally only marginally better than other bets, so it’s not a bad idea to compare your DraftKings Sportsbook boosts against other sportsbooks just to be certain you’re getting a good deal.

Who is DraftKings Sportsbook best for? 

Serious bettors. To make the most of DraftKings Sportsbook’s welcome bonuses, you’ll have to fork over a sizable amount of money. While depositing $5,000 can get you an extra $1,000 of bets, only serious sports bettors will get the most from a deal like this.
Sports fans who like extra excitement. You don’t have to be the most serious gambler to get some casual enjoyment from betting apps like DraftKings. Its easy user interface makes it a great option for mobile users looking to spice up the gameday watching with a match-up they are not interested in otherwise.

Who shouldn’t use DraftKings Sportsbook?

People with addictive personalities. It goes without saying, but it’s very easy to get into gambling, especially if you’re on a winning streak. You should only ever gamble with money you’re willing to lose, and if you have an addictive personality, the ease with which you can fund your account and place bets is a major sign to avoid this app.

Pros and cons

Pros
  • Simple user interface. Whether using the mobile app or the desktop website, DraftKings Sportsbook is easy to use.
  • Lots of betting options. Rather than limiting what kind of bet slips you can pursue, DraftKings Sportsbook offers a wide range of popular bets and wagers, including moneyline bets, prop bets, and more.
  • Hundreds of events each week. With dozens of sports offered, you’ll never be wanting for a game or event to bet on.
Cons
  • Not all betting options are straightforward. Due to the number of options and different wager styles, you may need to consult the glossary on DraftKings’ website to understand the payouts each bet has fully.
  • Welcome bonus requires major investment. While you can get a $150 bonus bet for a minimum deposit of $5, in order to get the best welcome bonus, you’ll need to be willing to fund your account with $5,000. 
  • Customer support. DraftKings’ customer support webpage is relatively sparse, and many users who have had to reach out for support have found it lacking.

DraftKings Sportsbook vs. FanDuel vs. Bet MGM

Platform
Minimum Deposit
PayPal deposit
Debit/Credit Card Deposit
Bank Transfer Withdrawal
PayPal Transfer Withdrawal
DraftKings
$5
Yes
Yes
Yes
Yes
FanDuel
$10
Yes
Yes
Yes
Yes
Bet MGM
$10
Yes
Yes
Yes
Yes

FanDuel

When it comes to funding your account or withdrawing when you’ve won and are ready to cash out, DraftKings, FanDuel, and Bet MGM are all relatively similar. Each offers PayPal deposits and deposits made with a credit or debit card. However, FanDuel has a $10 minimum deposit, compared to DraftKings’ $5 minimum deposit requirement.

Bet MGM

Bet MGM is pretty similar to FanDuel and has the same problem with a higher minimum deposit when compared head-to-head to DraftKings. It’s also worth noting that many people prefer the DraftKings or FanDuel user interface to that of Bet MGM; however, this ultimately comes down to personal preference.

FAQs

Can I bet with DraftKings where I live?
Not all state gaming boards have allowed online casinos or live betting websites and mobile app in their jurisdiction. As such, you must reside in one of the following states in order to place bets using Draft Kings: Arizona, Colorado, Connecticut, Illinois, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming. You also need to be at least 18 years of age to create an account. However, you must be 19 years of age to register if you live in Alabama or Nebraska, and 21 years of age in Arizona, Iowa, Louisiana, and Massachusetts.
How long does DraftKings Sportsbook verification take?
In the case that your identity cannot be automatically verified, manual verification typically only takes between 24 and 48 hours.
Do you need a driver’s license to make a DraftKings Sportsbook account?
You don’t necessarily need a driver’s license; however, you do need to be able to provide proof your identity. This could be using a state-issued ID card or another form of identification such as a passport or utility bill.

The bottom line

The sports betting industry is booming, and it would be hard to say that DraftKings Sportsbook hasn’t been leading that charge. As an industry leader in legal online sports betting, you can bet that if your state passes new laws allowing sports gambling DraftKings will be one of the first to roll out new offerings in your area.
With an easy-to-follow signup process and a slick user interface, DraftKing Sportsbook is a popular option for sports bettors and fans. While the welcome bonus for signing up isn’t quite as exciting as promotional ads may have you believe (unless you’re willing to shell out $5k), having a welcome bonus is still a great way to help newer bettors acclimate themselves to the world of live sports gambling. 
While it’s important to gamble responsibly, many people find casual enjoyment in making small bets from time to time on games. If that appeals to you (or you’re more interested in betting seriously on a wide range of sporting events), then DraftKings Sportsbook is well worth checking out.
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Brent Ervin-Eickhoff is a Chicago-based writer, stage director, and filmmaker with a background in digital marketing and content creation. In addition to Joy Wallet, Brent has written for Complex, Volkswagen, HowlRound, Picture this Post, and Third Coast Review, among others. He currently serves as the Associate Director of Marketing for Content Creation at Court Theatre at the University of Chicago. Brent graduated from Ball State University with Academic Honors in Writing.

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