Bet $5 Get $200 Sportsbook Promos in December 2023

It’s no secret that the US sports betting industry is booming. With more and more states legalizing sports betting, the market is getting ever more crowded.

One way that bookmakers try to distinguish themselves from their competition is through the use of welcome bonuses. Welcome bonuses can range from matched deposits, the refunding of losing first bets and even the awarding of bonus bets.

There are some bookmakers such as DraftKings and FanDuel who have taken welcome bonuses to the next level, with both of them offering an amazing $200 in bonus bets when just $5 is deposited and wagered.

With such tremendous value on offer, we think it’s only fair that as many people get a slice of action. It’s a no brainer!

In this guide we will break down everything you need to know to ensure you can get your hands on $200 in bonus bets by depositing just $5 at DraftKings or FanDuel.

How Does the Bet $5 Get $200 Work?

As well as offering tremendous value, the Bet $5 Get $200 welcome bonus is incredibly simple to understand.

Famed bookies in the sports betting market such as DraftKings and FanDuel offer this brilliant bonus and to be in with a chance of receiving the $200 in bonus bets you must be a new customer and not previously held an account.

Once registered you must make an initial deposit and place a qualifying wager of $5 on any pre-game moneyline. This covers hugely popular sports such as the NFL, NBA, MLB and some other sports such as some of the best soccer leagues from across the globe.

The best thing about this superb bonus offer is that your first bet doesn’t even need to be a winner. Once your $5 has been placed you will receive eight bonus bets worth $25 each. These $25 bonus bets can be used across the entire sportsbook but there are some notable exceptions. Any bonus bets are not permitted to be made on live in play bets, bonus bets, cash-out bets, odds boosts, profit boosts, parlays, same-game parlays, and voided bets. It’s also important to stress that you can’t combine bonus bets.

Sportsbooks with Bet $5 Get $200 Promos

So we’ve explained the basic information behind how the ‘Bet $5 Get $200 works’ – but we hear you cry – where you can take advantage of such a brilliant new user bonus? As luck would have it, there are two superb sites that run the promotion in the shape of DraftKings sportsbook and FanDuel.

🥇DraftKings Bet $5 Get $200

Open to any new DraftKings sportsbook customer, DraftKings Bet $5 get $200 is currently running until the end of 2023.

To be a part of the action you first must register and create a DraftKings account. When that’s done, you must make a $5 deposit on the DraftKings app or website. The $200 will be credited to your DraftKings account as soon as the first $5 bet has been placed.

It’s important to stress that each bonus bet must be used individually and can’t be combined or used on any DraftKings odds boosts.

🥈FanDuel Bet $5 Get $200

FanDuel is another titan of the US gambling industry and their $200 welcome bonus operates in a very similar way to the DraftKings offering.

New FanDuel customers will receive their $200 welcome bonus as soon as a $5 bet is placed. Similarly to the DraftKings offer, the $200 bonus won’t be applied in one hit and instead will hit your account in $25 increments.

The FanDuel welcome bonus tends to be turned on and off more regularly, but is usually available at the start of the CFB and NFL seasons.

When active around the NFL season, new FanDuel members will not only just receive the $200 in bonus bets, but they will also receive a $100 discount for FanDuel’s weekly Sunday NFL ticket.

Steps to Claim $200 By Betting $5

Claiming your $200 bonus couldn’t be easier. Simply follow the steps below to register for both DraftKings and FanDuel

• Visit the DraftKings or FanDuel sportsbooks and click on the register button.
• Once you have clicked on the register button, you will be required to enter some personal information. This will include your name, gender and email address. You will also be asked to enter your social security number to confirm your location.
• In the sign up process you will be prompted to enter any promo codes. There isn’t a promo code currently needed for those betting sites, simply use our links to qualify.
• Once registered you will need to complete your first deposit. The minimum deposit amount for FanDuel is $10 and $5 for DraftKings.
• With your deposit in place – place a $5 pre game moneyline bet across either betting sites or both.
• As soon as your bet has been placed you will receive $200 in bonus bets, in addition to any cash winnings if your original bet wins.
• The bonus will be credited to your account in eight installments of $25.

Bet $5 Get $200 Promo Codes?

As we have stated above, there currently isn’t a promo code needed for the bet $5 get $200 offers.

If you have a promo code, it is filled in as a part of the registration process. The promo code section will be clearly signaled so you shouldn’t miss it!

Promotional Terms

As with any decent welcome offer there are terms and conditions that you will need to adhere to.

Draftkings bet $5 get $200 bonus terms

• The Bet $5 Get $200 welcome bonus is only available to brand new DraftKings members.
• Bets must be placed between 08/21/2023 at 12:00:00 PM Eastern Time (ET) and 09/18/2023 at 11:59:00 PM Eastern Time (ET). Any bets placed after this time won’t qualify.
• $5 must be placed on any pre-game moneyline across the DraftKings sportsbook
• Available to players in AZ, CO, CT, IA, IL, IN, KS, LA, MD, MI, NJ, NY, OH, PA, TN, VA, WY, and WV
• The $200 bonus is paid as eight $25 Bonus Bets. The bonus bets are valid for seven days. The seven seven day completion period is measured as 168 hours from the time the bonus is awarded.
• You can’t combine bonus bets or make live in play bets, bonus bets, cash-out bets, odds boosts, profit boosts, parlays, same-game parlays, and voided bets.

FanDuel bet $5 get $200 bonus terms

• The Bet $5 Get $200 welcome bonus is only available to brand new FanDuel members
• $5 must be placed on any pre-game moneyline across the FanDuel sportsbook
• The $200 bonus is paid as eight $25 Bonus Bets. The bonus bets are valid for seven days. The seven seven day completion period is measured as 168 hours from the time the bonus is awarded.
• Available to players in AZ, CO, CT, IA, IL, IN, KS, LA (permitted parishes only), MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, or WY
• You can’t combine bonus bets or make live in play bets, bonus bets, cash-out bets, odds boosts, profit boosts, parlays, same-game parlays, and voided bets.

Tips to Use Bet $5 Get $200 Bonuses

Once the $200 bonus has been applied to your account there are several different ways in which you can look to maximize your $200.

Back favorites

If you are looking to try and win some guaranteed money off your bonus bets, then backing favorites could be a savvy way to go. Whilst there is no guarantee that these bets will come in, there is a reason why some teams are heavily fancied over others. If enough of the favorites that you have backed come in, you should see some steady returns.

Back the underdog

As you have nothing to lose with your bonus bets, it might be a sensible time to bet on the underdogs. Whilst the odds of any underdog to win might be limited, you could see some massive returns off a bet worth $25. If you envision making huge wins, then backing the underdog is the best way to do it.

Place a bet on markets you wouldn’t usually choose

The best thing about the $200 bonus bets is that once awarded they are completely free. If you place a bet with one of your $25 bonuses it won’t cost you anything. With nothing to lose it could be worth exploring new betting markets. You might find a market that you really enjoy and it could be the perfect way to explore the DraftKings and FanDuel sportsbooks further.

Haven’t you yet signed up with DraftKings or FanDuel? Use our links, deposit $5 or $10, wager $5 and get $200 to bet across eight different moneyline outcomes today.