DraftKings vs FanDuel: what is each welcome offer worth?

DraftKings vs FanDuel: which welcome offer is bigger right now?

FanDuel's welcome offer is bigger on paper as of October 23, 2026: up to $350 in bonus bets against DraftKings' $200. FanDuel asks for more, though. You need a $5 cash wager on seven separate days, and FanDuel lists the offer as valid only from October 13 to October 25, 2026. DraftKings needs one $5 first bet and runs through November 29, 2026, but pays three of its four $50 batches only if you log in and claim them.

Neither headline number is cash. A bonus bet pays only its winnings, never the stake, so the amount you could actually withdraw is lower. Our estimate in the next sections puts FanDuel's $350 at roughly $159 to $207 and DraftKings' $200 at roughly $91 to $118, if every bonus bet is claimed and hedged at typical prices.

How do the DraftKings and FanDuel welcome offers pay out?

The DraftKings promo pays $200 in bonus bets over 21 days. After your first $5+ cash bet on any eligible DraftKings Sportsbook market, DraftKings credits $50 as two $25 bonus bets. A new $50 click-to-claim then appears every 7 days, on days 7, 14 and 21. Each claim expires 7 days (168 hours) after it is issued, and an expired claim voids that $50 for good, though later claims still arrive. Cashed-out or voided qualifying bets void the promotion, and bets placed with bonus bets or boosts do not qualify.

The FanDuel promo pays $50 in bonus bets for each day you place a $5+ real money wager, for seven consecutive days, up to $350. FanDuel's page says you must be a brand new FanDuel Sportsbook customer, deposit at least $5, and place each day's wager between 3 AM and 11:59 PM ET. Bets placed with bonus funds, site credit, bonus bets or profit boost tokens do not count, and neither do cashed-out wagers. Every daily wager is real money at risk. If you start close to October 25, read the full terms in the app to see how many qualifying days remain.

How do DraftKings and FanDuel bonus bets work?

DraftKings and FanDuel bonus bets both pay winnings only: if a bonus bet wins, the profit goes to your cash balance and the bonus stake disappears. DraftKings' terms give the example of a $10 bonus bet at +100 that wins and credits $10 of profit. FanDuel's page gives a $25 NFL bonus bet that wins $22.73, with the $25 stake not returned.

The rules differ on splitting and pushes. DraftKings' welcome bonus bets are single-use $25 tokens, valid for 7 days from the time they are credited, cannot be combined with other bonus rewards and may not be usable on every market. FanDuel bonus bets expire in 7 days unless stated otherwise, can be split so you use part now and keep the rest, and can be topped up with cash, though only the cash part of the stake comes back on a win. FanDuel returns a bonus bet if the wager is voided but not after a push, and bonus bets cannot be used on round robins. See how bonus bets work for the general rules.

What are DraftKings and FanDuel bonus bets worth in cash?

A DraftKings or FanDuel bonus bet is worth less than its face value, because the stake never comes back. One common way to estimate the cash value is a hedge: the bonus bet goes on one side of a two-way market and a cash bet on the other side at another sportsbook, sized so both results pay about the same. The free bet calculator does that sizing with decimal odds.

Using the same example prices as our bonus bet explainer, a $25 DraftKings token keeps about $11.34 at even money (2.00 against 1.83) and $14.79 at +200 (3.00 against 1.42). A $50 FanDuel bonus bet keeps about $22.68 and $29.58 at the same prices. That is 45% to 59% of face value. All eight DraftKings tokens come to roughly $91 to $118, and all seven FanDuel days to roughly $159 to $207.

These are estimates, not quotes. Real prices move, and the cash side of each hedge needs funding: about $35.21 per DraftKings token and $70.42 per FanDuel $50 bonus bet at +200. The estimate leaves out the qualifying cash bets (one at DraftKings, seven at FanDuel), any claim or token you miss, rejected or partial bets, and FanDuel pushes. DraftKings' terms also let it withhold rewards for betting both sides of a market to complete promotion requirements, so read that clause before you plan anything. The hedging guide covers what can go wrong.

Which states have DraftKings and FanDuel Sportsbook?

DraftKings' current welcome offer terms list 27 states plus DC and Puerto Rico: AR, AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (select parishes), MA, MD, ME, MI, MO, NC, NH, NJ, NY, OH, OR, PA, PR (residents only), TN, VA, VT, WV and WY. FanDuel's state map lists FanDuel Sportsbook in 24 states plus Washington, D.C. and Puerto Rico: AZ, AR, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MI, MO, NJ, NY, NC, OH, PA, TN, VT, VA, WV and WY.

The difference is Maine, New Hampshire and Oregon, where DraftKings' offer applies and FanDuel's map shows FanDuel Predicts instead of the sportsbook. Both require you to be physically located in an eligible state when you bet. The minimum age is 21 in most places; DraftKings' offer terms list 18+ in DC, New Hampshire, Puerto Rico and Wyoming, and FanDuel's map page lists 18+ in DC, Kentucky and Wyoming.

What other promos do DraftKings and FanDuel run?

DraftKings and FanDuel both run ongoing promos for existing customers, and most of them are boosts or bonus bets rather than cash. FanDuel's own promo pages listed, for October 2026, profit boost tokens (for example a 50% boost on eligible NBA wagers at -200 or longer on October 20), Bet Reset tokens for single games, a Reward Stack of two 30% boosts and an NHL Boost Builder.

DraftKings' terms name profit boosts and odds boosts among its bonus rewards, and its registration page carries a separate deposit bonus: 20% of the qualifying deposit, up to $1,000, paid in DK Dollars. That one releases $1 for every $25 you play within 90 days, so the full $1,000 takes $25,000 of play. DK Dollars differ from bonus bets: they do not expire, and a winning DK Dollars stake converts to cash along with the winnings.

What are DraftKings Predictions and FanDuel Predicts?

DraftKings Predictions and FanDuel Predicts are the two operators' prediction-market products, where you trade event contracts instead of placing bets. DraftKings' welcome terms describe DraftKings Predictions as a CFTC-registered futures commission merchant and NFA member open to US residents 18 and older where it offers markets, and they let a new customer take $200 in Predictions Dollars for a first $5+ trade instead of the sportsbook bonus, not both. FanDuel's state map shows FanDuel Predicts in most states where FanDuel Sportsbook does not operate, such as California, Texas and Florida. For how these markets work, see prediction markets.

How do you keep the bonus bet deadlines straight?

Write the dates down the day you place the qualifying bet: DraftKings' claims on days 7, 14 and 21, each open for 7 days, and FanDuel's seven daily wagers plus a 7-day expiry on every bonus bet. doddo's bonus conversion pages explain each sportsbook's recorded offer, and the free calculator sizes a hedge for one bonus bet at a time; new doddo accounts are on a waitlist for now. Both welcome offers ask for real cash bets, and our responsible gaming page links to independent support if betting stops feeling like a choice.