How to Place a Bet at DraftKings

Sports betting can be exciting and, for some, even highly profitable. Although it takes a lot to turn sports betting into a worthwhile endeavor, the first thing any aspiring sports bettor needs to do is to find a suitable sportsbook.

There are plenty of options to choose from and quite a few big-name brands that offer their sports betting service. Due to the high competition between the biggest online sportsbook, the quality of service has improved quite drastically over the years, offering us plenty of top-of-the-line sports betting providers to choose from.

Which online sportsbook is the right for you comes down to personal preference, but as many will tell you, you can't go wrong with DraftKings. As one of the most popular sportsbooks and DFS providers in the United States, DraftKings is the go-to online sportsbook for millions of bettors, and it's easy to see why.

DraftKings offers one of the best online sports betting services, an excellent user interface, and a large selection of sports betting markets. There's a lot to like about DraftKings, which has everything you'll ever need in an online sportsbook.

DraftKings Account

If you don't have a Draftkings account - CLICK HERE

Before you can start learning about every feature DraftKing has on offer and why it might be your go-to online sportsbook, you first need to create a DraftKings account. This shouldn't take you more than a couple of minutes of your time.

To begin creating your DraftKings account, you first need to visit the DraftKings site and register.

Once on the site, select DraftKings sportsbook and begin your registration. You will be asked to input your desired username, email address, password, and any promotional codes you might have.

Upon clicking "Next" on the first page of DraftKings registration, you will be redirected to the second page, where more personal information will be required. That includes full name, address, date of birth, social security number, and phone number.

When you're done with the first two steps, all there is left to do is to complete the registration. After that, you'll receive a verification link to your email address, which you need to click to finalize your registration.

DraftKings Deposits

Before you can place your first bet with DraftKings, you first need to deposit funds into your DraftKings account. That process is straightforward, largely thanks to DraftKings' extensive selection of deposit methods.

Online Bank Transfer
Credit/Debit Card
Electronic Gift Card
DraftKings Gift Card
PayPal
Play+
Cash
VIP preferred e-check
Wire Transfer

Pick What You Want to Bet On

With funds in your DraftKings account, you're all set to place your first bet on the site or via a mobile app, and you can be sure there won't be a lack of betting options at DraftKings. The prominent sportsbook prides itself on one of the largest selections of markets and all bet types you would ever wish for.

On DraftKings, you will find all the traditional bet types, such as ML, over/under, in-play bets, spread, proposition bets, teasers, parlays, and more.

Moneyline

Moneyline is a straightforward and the simplest bet type, which allows you to predict which team will win the game. The underdogs will always be priced with a positive (+) sign in American odds, whereas the favorited team will have a minus (-) sign next to its odds.

The plus and minus signs next to odds also show how much money you can expect to win if your bet hits. For example, underdog odds (with a plus sign) indicate how much profit you can expect with a $100 bet, whereas favorite odds (with a minus sign) show how much money you must wager to win $100.

For example, we can take a match between Denver Broncos (+140) and Cleveland Browns (-160), where the Broncos are the underdogs, and the Browns are the favorites.

If you were to bet $100 on Denver Broncos at +140 ML, you would earn a profit of $140 if they win. On the other side, you would need to bet $160 on Browns ML to win $100.

Spread

Spread bets are different from ML bets because, with spreads, you're not predicting which team will win but instead on the margin of victory or defeat. So, in other words, ML bets ask "who will win," while spreads ask "by how much?".

The points spread bet shows each team with a positive (+) or negative (-) handicap, depending on their perceived strength. The favorites will always offer a negative handicap, while the choices will have a positive points handicap.

By betting on the favorites with a negative handicap of three points, you're essentially predicting that they will win by at least a four-point margin. Meanwhile, a bet on the outsiders with a positive three-point handicap means you're expecting that they will either win, draw or lose by less than three points.

In the example of the Denver Broncos vs Cleveland Browns match, you could bet on the Browns with a -3.5 handicap, and your bet would only win if they win by four or more points. The same principle applies to positive handicaps.

These handicaps are commonly referred to as the "line." The points get factored into the final result to determine whether your bet has won or not.

Total (or Over/Under)

Totals (also known as Over/Under) is a bet type that allows you to predict whether there will be more or less than X points scored in the game. The bookmaker will create the number, and you will then get to decide whether you believe the game will end with more or fewer points than the presented number.

If the Over/Under for the Broncos vs. Brown is at 42.5 points, and you believe the teams' combined score will be less than 42, you would bet on under. If you believe the total score will be 43 or more, you will bet on over.

Props

Props or proposition bets can take many forms and are generally not related to the game's result but rather to specific events in a game. That includes players performance (player props), team performance (team props), and more.

An example of a prop bet is whether safety will be recorded in the Browns vs. Broncos game. A player prop would look like this - Will Tom Brady throw for 300+ yards in his next game?

Although widely considered as "fun bets," prop bets can be an exciting way to spice your online sports betting. There is no limit to what prop bets the bookmaker will offer since these types are typically available for almost anything related to the game.

In-Play

As the name would suggest, in-Play betting or live betting allows you to bet while the game is happening. Based on the action, the odds offered will be very dynamic and will constantly update throughout the game.

In-Play bets will usually offer the same bet types as found pre-game; however, you can be sure the odds will be different, while the lines will move according to how the teams are playing.

The odds on in-Play bets change depending on how the event is playing out. However, in its essence, the in-play bets are a collection of all simple bets, with a few exceptions.

Futures

Future bets allow you to bet on future events – such as who will win the Super Bowl, who will be the new champions, which player will collect the MVP, and more. Future bets usually offer generous odds; however, they also present far more volatility since you're predicting the outcome months in advance.

Still, if you believe that Denver Broncos will win the Super Bowl, you can bet on that happening with a futures bet.

Parlays

With parlays, you're placing a bet on multiple outcomes. While you can bet on the result of several matches, you must also correctly predict all to reap the rewards.

For example, if you bet on Denver Broncos and Philadelphia Eagles to win their next games, you'll need both teams to deliver to collect the payout. This bet type is one of the riskier; however, that gets compensated with greater rewards.

At DraftKings sportsbook, you can parlay multiple outcomes together across several events and are not limited to only ML and spreads. Instead, you can also use prop bets, futures, and more.

Main Sports

If you want to bet on sports, DraftKings is the place to be due to its wide selection of different sports, leagues, and competitions. DraftKings accepts bets on football, tennis, soccer, golf, horse racing, esports, winter sports, basketball, hockey, and much more.

When betting on DraftKings, you will be spoiled for choice when looking for a sporting event to bet on. You will rarely find yourself in a situation where the sportsbook won't offer odds on a match, even if you're looking to place a wager on a second or third division league.

Finalize Your Bet

You can place bets on DraftKings either via the site or on the DraftKings mobile application, which is available for free for Android and iOS devices.

When you're trying to place a bet with DraftKings, you can do so in a matter of several clicks. Once on the DraftKings sportsbook site, navigate to the sports section and pick the sport you want to bet on.

Assuming you want to bet on the English Premier League, navigate to "Soccer" and leagues, where you will be able to find EPL matches. If you have a particular game in mind, you can access it via the search bar, where you only need to input the name of one of the teams.

Once you've found the game you want to bet on, all there is left to do is pick the bet, input the amount of money you wish to wager, and confirm your selection. The amount of money you want to bet depends on the sport you're betting on and your bankroll, but the general rule is to bet anywhere between 1-5% of your total betting bankroll.

Withdrawing Money

If you get lucky with your bets and want to withdraw your winnings, you can do so via one of many withdrawal methods. If you wish to withdraw money from DraftKings mobile app, you need to follow seven simple steps:

Log into your DraftKings app
Tap on your profile picture in the top left corner
Navigate to the "Withdrawal" button
Review "Thinks To Know Before Withdrawing" and click on "Got It"
On the Withdrawal page, enter the amount of money you want to withdraw and tap "Continue"
Select how you would like to receive your funds
Tap "Request Withdrawal"

If you're withdrawing money on the desktop or laptop, the process is very similar.

Log into DraftKings on desktop
Click on your profile photo in the top right corner and select "Account Information" from the dropdown menu
On the left side of My Account, click on "Withdraw"
Review "Things to Know Before Withdrawing" and click on "Got It"
On the secure withdrawal page, enter the amount of money you wish to withdraw and click "Continue"
Select how would you like to receive your funds
Click "Request Withdrawal"

You can withdraw funds from your DraftKings account via:

PayPal – 3-5 days
Online Banking – 3-5 days
Play+ – 2-4 days
ACH – 3-5 days
Wire – 24-48 hours
Checks – up to seven days
Cage – only in New Jersey

How to Place Bet at DraftKings – FAQ

How Long Do Withdrawals Take?

Withdrawals from DraftKings are processed within seven business days, while each withdrawal method requires different maximum and minimum limits. You can check how long your withdrawal will take via the "Withdrawal Checker," which will be provided to you via email once your request it.

How Old Must You Be To Play On DraftKings?

For DFS, you need to be at least 19+ years old to play in Nebraska and Alabama, 21+ years old to play in Iowa, Louisiana, and Massachusetts, and 18+ in all other states.

For DraftKings online sportsbook, you need to be 18+ years old in New Hampshire and 21+ years old in all other states where DraftKings is available.

Is DraftKings Legal?

DraftKings is completely legal and fully regulated, and licensed in states where it offers its business. The brand prides itself on providing more secure services than offshore sportsbooks.