How Does DraftKings Work?

Heavy’s partners at DraftKings have grown the company in three years from an unknown startup to a fantasy sports juggernaut valued at more than $1 billion.

Let’s take a look at how the site works, where it’s legal and how fantasy players can sign up and win cash prizes.


How DraftKings Works

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Unlike season-long fantasy sites, DraftKings offers daily and weekly contests, giving contestants a chance to win instant cash prizes without a season-long commitment.

DraftKings offers daily contests for the NFL, Major League Baseball, soccer (English Premier League and Major League Soccer), PGA Tour, NASCAR and UFC/MMA. College football, college basketball, NBA and NHL contests will be available when those seasons begin.

Contestants can enter fantasy games with entry fees as low as 25 cents or as high as $10,000. The payouts for those contests depend on the entry fee, among other factors, and vary widely.

Once you’re entered in a contest, you’ll be assigned a fixed salary cap of $50,000 to fill your lineup. Pick the players you want on your team and when you’re happy with your lineup, submit it. The better your selected team does, the more cash you’ll earn.

Each sport has different lineup and scoring parameters, which can be found on the DraftKings website.


How to Sign Up & Win Money at DraftKings

Signing up for DraftKings is simple: Click here, then click on the “sign up” link in the top-right corner of the screen. To sign up, you’ll need to enter an email address and password while checking a box indicating you’re 18 or older and live in a state or province where playing DraftKings is legal. If you’re prompted for a DraftKings promo code, enter HEAVY.

Once you’ve signed up, you’ll be promoted to deposit money. You can deposit as much or little as you want, but new players have an incentive to deposit up to $600: DraftKings matches the first-time deposit of new contestants with a deposit bonus of up to $600. For instance, if you deposit $300, you’ll eventually end up with an additional $300 to spend on contests.

Deposit bonuses release in increments depending on how much money a contestant spends on contests. In other words, you can’t simply deposit $100 and immediately have $200 available in your account.

Here’s how the DraftKings FAQ page describes the process:

Deposit bonuses release in increments of $1 for every 100 Frequent Player Points (FPPs) that you earn by playing in paid contests. All deposit bonuses expire four months after they are created. If you have an issue with your deposit bonus expiring, please contact support@draftkings.com

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