DraftKings sign-up offer in New York: what it's worth

Bet and get bonus bets

Bet $5, get $150 in bonus bets, paid as $50 a week

New customers, 21+
First bet of $5 or more at -500 or longer
$50 in bonus bets claimed every 7 days
Each bonus bet expires 7 days after it's issued

Terms paraphrased from the current DraftKings offer. Last checked 2026-10-04. DraftKings' terms

What it's worth

Calculated value

$105

range $102–111

Cash you need

$155–210

one step at a time; $476–639 all at once

Return on cash used

57%

calculated value ÷ cash needed

Qualifying bet, hedged (1 × $5)	-$0.26
Bonus bets, hedged (3 × $50)	+$105.07

Calculated value at the terms and typical prices shown, not a promise. Odds change, and books can limit or void bets. Offers change often and vary by eligibility: confirm the current terms at the sportsbook before you sign up.

How to get the most from it

Check you're eligible: new DraftKings customers in New York, 21 or older. Read DraftKings' full terms first.
Place the qualifying bet (1 × $5, at odds of -500 or longer). Small qualifiers can be hedged at another book so they cost almost nothing: $5 at -110 hedged with $4.79 at -101 costs about $0.26.
When the bonus bets arrive (3 × $50), place each on a longer price, around +435, and hedge the other side at a different sportsbook: $50 at +435 with a $182.47 hedge at -521 keeps about $35.02 either way.
Go one bonus bet at a time if cash is tight: the hedge from one settles before you place the next. Each bonus bet expires 7 days after it's issued.
Record every bet. Your average conversion rate tells you what future promos are worth to you.

Things to watch

Hedge at a different sportsbook: the same book usually won't allow it with promo funds.
Check that both sides are the same market and line before placing either bet.
Expiry: rewards expire 7 days after they're issued. An unused bonus is worth nothing.
Minimum odds: the qualifying bet must be at -500 or longer.
The bonus arrives as 3 separate bonus bets; each one is hedged on its own.
Books can limit stakes or void bets under their own rules. Follow every term of the offer.

Questions

What is the DraftKings sign-up offer worth?

About $105 when hedged at typical prices (range $102 to $111), calculated by HedgeMath's hedging math from our own odds data. It is a calculation, not a promise.

How much cash do I need?

About $155 to $210 tied up at once if you go one step at a time, or $476 to $639 if you place everything together. Most of it comes back when the bets settle.

Is this an advertisement?

No. HedgeMath isn't paid by or affiliated with any sportsbook, and there are no affiliate or referral links on this page.

Do I have to hedge?

No. Hedging turns the offer into a calculated result at the prices shown instead of leaving it to the game. Unhedged, the outcome depends on the result.

Only open an account if you were going to bet anyway, and never bet more than you can afford to lose. Compare every New York offer

Want the best play found for you?

HedgeMath searches live odds across the sportsbooks you hold and ranks the plays for each bonus by return rate.