DraftKings Launches “Bet $5, Win $280” Offer

Kansas City Chiefs fans do the wave. Jamie Squire/Getty Images/AFP.

DraftKings Sportsbook has launched a “Bet $5, Win $280” sign-up bonus to celebrate the start of the NFL playoffs.

You can sign up for an account, make a deposit of just $5 and wager it on any NFL team to win on the moneyline to claim this offer. If the team you bet on wins the game, you will be awarded $280 in free bet credit, in addition to any cash winnings you earn from your qualifying wager.

The bonus will be paid out as seven free bets worth $40 apiece. You will have seven days in which to use these free bets.

They all come with just a 1x turnover requirement, so any winnings you earn will be paid in cash. You can withdraw it or play it again.

A Large Odds Boost Offer

You must be physically located in Arizona, Colorado, Connecticut, Iowa, Illinois, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, Wyoming or West Virginia to claim this welcome bonus.

DraftKings was one of four online sportsbooks to launch in New York when the state’s legal sports wagering industry began on Saturday. It is competing with FanDuel, Caesars Sportsbook and BetRivers.

Caesars Sportsbook has launched an enormous welcome bonus, comprising a $300 free bet plus a 100% deposit match bonus of up to $3,000.

This DraftKings offer is certainly not as large as that, but the ability to earn seven free bets worth $40 each by risking just $5 of your own money is very appealing.

The standard DraftKings welcome bonus is a 20% deposit match offer worth up to $1,000, which has a 25x release requirement. You also get a $50 free bet on top. That is also an attractive offer. You can choose that instead of the Bet $5, Win $280” sign-up bonus if you like.

Games to Place the Qualifying Bet On

This Bet $5, Win $280” sign-up bonus runs until February 13. That means you can use it on any playoff game, as the Super Bowl will be held at the SoFi Stadium in Los Angeles on that date.

Week 18 of the NFL season produced all sorts of drama. The Colts somehow contrived to lose to the Jaguars – the team with the worst record in the NFL – which saw their playoff dreams go up in smoke. There were also dramatic wins for the Raiders and the 49ers, which carried them through to the playoffs.

The wild card round is now set. There will be six games taking place from Saturday through Monday: Bengals vs. Raiders, Bills vs. Patriots, Buccaneers vs. Eagles, Cowboys vs. 49ers, Chiefs vs. Steelers, and Rams vs. Cardinals.

Some of those teams are huge moneyline favorites. For example, the Kansas City Chiefs are priced at just -650 to beat the Steelers. You can also find -380 on the Bucs – the reigning Super Bowl champions – to beat the Eagles in Tampa, while the Bengals are -225 to take down the Raiders in Cincinnati.

You can place your $5 moneyline bet on any of those heavy moneyline favorites and then receive seven free bets worth $40 each as a reward if the team wins. Nothing is guaranteed in the playoffs, but it would be a huge shock if the Chiefs lost at home to the Steelers, having beaten them 36-10 just a few weeks ago, so that might be a tempting option for anyone that wants to claim this bonus offer.