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How to bet on DraftKings sportsbook: Simple beginners guide

Author:

Alex W

Updated:

04-05-22

Huge sports fan. Football & MLS fanatic. Lover of all things gambling - Sports betting, Casino, Poker and of course, Las Vegas.

You may be completely new to betting, you may be new to online or mobile betting, whatever you reason, you are probably wondering how do you bet on DraftKings sportsbook.

Online and mobile sports betting is growing in the United States, and many people who have never thought about wagering before are becoming interested in making some money on their favorite sports. Although retail sports betting has been around for a while, betting online is a different ballgame.

One of the most well-known brands currently operating in the US is the DraftKings sportsbook. The company shot to prominence due to the success of its daily fantasy sports contests but has since grown to become one of the most successful sports betting platforms worldwide. Additionally, the Draftkings sportsbook app provides customers with the opportunity to access DraftKings betting lines and various DraftKings sportsbook offers on the go.

As we mentioned above, online betting in the US is still a relatively new concept. It has only just launched in states like New York, and people there may not know how to bet on sports. The thought of using your money on a gambling app that you are unfamiliar with might seem intimidating for a first-time sports bettor. The good news is, placing a bet online is a straightforward process, and it is easy to place bets on the DraftKings sportsbook.

How to bet on DraftKings

So, if you want to find out how to bet on DraftKings sportsbook, this guide will help. We will talk about how to use DraftKings properly and start right with the basics. So if you are new to mobile betting, or an experienced Vegas pro, read on to find out exactly how to place a bet with DraftKings sportsbook. Think of this piece as a type of sports betting tutorial or maybe even a DraftKings for dummies article!

How to bet on DraftKings sportsbook

If you have seen the DK TV ads or banners on sports stadiums and thought, I want a piece of the action, then this guide is for you. DK is widely considered as one of the best betting sites for new players.

1. Create a DraftKings sportsbook Account

It is probably obvious, but you can’t bet if you don’t have an active Draftkings account. You can start by going to sportsbook.draftkings.com and clicking the “Sign Me Up” button on the main page, or the Sign Up button at the top of the homepage. You will then be taken to the registration section, where new players will be required to provide some information:

  • Name
  • Address
  • Date of birth
  • Email
  • Phone number
  • Social Security number

You must also create a username and password for the online sportsbook. DraftKings also states that it must verify the identity of every new player. This is a standard practice among all online sportsbooks and is done for your protection. You will also have to answer some security questions. It takes around 5 minutes in total to create your account but its essential to be able to deposit and withdraw, keep track of your bets, and get notified of any promos that may be coming your way.

Users will need to confirm that they’re at least 21 years or older and that all of the information they have provided is accurate. Once you have agreed to the terms and conditions, a new account will be set up. You may have a DraftKings sportsbook promo code to use when joining but this isn’t essential to claim the welcome offer as it’s available to all new customers.

How to bet on DraftKings

DraftKings sportsbook is now available in over 14 states and is totally secure, and legal in: AZ, CO, CT, IL, IN, IA, MI, NH, NJ, NY, PA, TN, VA, WV & WY

After creating an account, the next step is to log in, fund your account and start exploring the various futures bets and point spread options available on the site. You can download DK on your phone at this stage or even sign up through it; the process is simple, as the operator is considered the all around best betting app for beginners.

2. How to Deposit at DraftKings

Now that you have an account, you need to add funds to it so you can place your first wager. Making a DraftKings deposit is quick, safe, and secure. When you are signed in, head to the cashier section of the site, click your chosen deposit method, and enter your preferred amount.

DraftKings provides plenty of flexibility for moving money around the online sportsbook. The deposit options include:

  • Credit card
  • Debit card
  • Bank transfer
  • Play+ Prepaid
  • PayPal
  • PayNearMe (7-Eleven, Family Dollar, CVS)

Patrons in some states might have the ability to deposit into their accounts through the casino cage at DraftKings’ casino partner. For example, if you live in New Jersey, you can visit the cashier at Resorts Atlantic City to fund your account. When you make a deposit, you are just depositing a set amount, say $20. This doesn’t mean you are subscribing to bet all the time, it’s a one-off deposit. If you bet $20 and don’t win your bet, you can add more funds, but this has to be done by you, as and when you want. There is no subscription or direct debit.

How to make a DraftKings deposit

3. Get ready to place a bet on DraftKings

You have an account, and you have funds in it, now it’s time to put some skin in the game. DraftKings makes everything clear and transparent, so you know exactly what the bet is, how much it is for, and how you will win. To place a bet, simply find the event and outcome you would like to wager on and click to add it to your bet slip. You can find the full list of sports in the footer of the app. just click on All Sports and scroll down the list to find the sport you want to wager on.

How to make a bet on DraftKings

When you find the sport, scroll till you find the match/game you want to bet on. You can see odds right away for Spread, Total, and Moneyline. Here you can add 1 selection, or add more bets to your betslip. You can also click on the particular game to view more market and betting options. There are a few different types of bets you can place with DraftKings and we go into these in more detail below.

Football market on DraftKings

Note that the green numbers associated with each outcome are the odds, which decide the potential payout. You can add up to 12 selections to your bet slip at any given time.

So, for example, if you wanted to bet on an NBA game, click the NBA markets, choose your match and then place a single wager or a team bet.

To view your bet slip, click the center button on the app or look at the right-hand side of the screen on the desktop site. Here you will see all of the picks you have selected that are waiting to be placed. The bet slip allows you to toggle between Singles, Parlays, and Round Robins. Enter the amount you want to bet, and the potential payout will be calculated.

Once you are happy with your picks and stake, select ‘PLACE BET‘ to lock in your bet. There will be a record of all of the bets you place. You can view your complete betting history by visiting ‘My Bets.’

If you made the right selections, you can then proceed to withdraw your funds from DraftKings.

How to bet on football on DraftKings

DraftKings has over 14 different sports you can wager on, and as you guessed, football is the most popular for customers to have a wager on. If you are betting on the NFL, college football, or really any type of sport, it is very simple. Make sure you have signed up for an account sportsbook.draftkings.com and have put money into your account. This doesn’t have to be hundreds of dollars, DraftKings deposits are as low as $5.

As we show you on the images above, select football from the list of sports, or use the search feature at the top of the page to search for a matchup or team. If you select NFL for example, you will then be shown all the available games to bet on. These can be games happening right now with in-game wagering, or futures on games that will take place in the future.

Scroll till you find the game you want to be on. You can click on the odds if you want to wager on the spread, moneyline, or totals. Clicking on the odds box will add the choice to your betslip. You can see further betting options by clicking on the game, or the same game parlay option. The same game parlay allows you to combine multiple bets from one game. When you have made your picks, open the betslip and set the amount you want to bet. A box will show the potential returns you can win should your bet come in. Click on Place bet and your wager is now on.

Football betting on DraftKings

Now sit back and watch the game unfold. If your bet lands, the winnings will be credited to your account, where you can withdraw, or leave in the funds for any future betting.

Types of Bets at DraftKings Sportsbook

Before we talk about how to place each type of bet individually, we thought it was worth listing them. DraftKings has excellent resources to help a new bettor get acclimated, including guides and information.

The most prominent types of bets on DraftKings are:

  • Moneyline
  • Spread
  • Props
  • Parlay
  • Teasers
  • Over/under

But we want to answer the question of how to place a bet on Draftkings, so let’s look at these types of wagers in more detail.

How to bet Moneyline on DraftKings

A money line bet is the simplest type of wager, so it feels like an excellent place to start! This type of bet only includes odds, as in “odds to win .”They are wagers where you are simply predicting the outcome of a game. The favorite will always have a minus sign (-) displayed next to it, while the underdog is indicated by a plus sign (+). When betting on the favorite, the moneyline is the amount you would have to bet to win $100. With the underdog, the moneyline is the amount you stand to win if you bet $100.

Take the below example:

Dallas Cowboys (-300)

Philadelphia Eagles (+250)

In this instance, you would have to wager $300 on the Cowboys to win$100. On the other hand, the same bet on the Eagles Lions would see you win $250. Moneylines always assume a base of $100. Of course, you can decide if you want to bet less or more. You may see this as the best way to bet on DraftKings, to begin with, as it is a good option to ease yourself in.

How to bet Over/Under on DraftKings

This type of bet is also referred to as a total. This is the name given for a wager when are predicting the total amount of something to occur. This can be combined points in a game, points scored by a player, yards for a player, etc. These bets are also accompanied by odds and are typically listed around -110.

Suppose you want to bet on Green Bay’s running back total rushing yards. For example, the ‘total’ will be set at around 85 yards. If when the game finishes, the Green Bay running back gets to 86 yards or more, the ‘over’ wins, and you can pat yourself on the back.

How to do Prop Bets on DraftKings

Props, or proposition bets, are also referred to as side bets because they allow users to wager on specific events that occur within a game instead of just on the game itself. Game props are typically presented as moneylines and can cover a range of in-game events, such as a Quarterback throwing over a certain number of yards.

For example, if betting on basketball, you could predict how many points a player will score in one quarter or how many three-pointers they will score. Just click on any matchup to see all of the props available on DraftKings.

How to do Parlays on DraftKings

A parlay bet is a wager placed on multiple outcomes to occur. All outcomes or ‘legs’ with the parlay must be chosen correctly for a parlay bet to win. The odds for each selection are multiplied by one another to determine the odds for the parlay. Parlays can be made up of several bet types, including spread, over/unders, and moneylines. This means they have higher payouts than if each wager was placed separately.

There is also the DraftKings same game parlay option for players. This allows users to combine multiple Same Game Parlays into one whole parlay. To do this, you must first choose your game. SGPs are available for football, baseball, and more. Look for a game with a +SGP icon in the top-left corner. Then toggle  “Same Game Parlay” on. Once this has been turned on, all available bets will appear. Then combine your chosen bets from one game and add the bet to your bet slip.

How to do Teasers on DraftKings

A teaser is similar to a parlay bet but allows the game totals and point spreads on two or more picks to be adjusted. A fixed number of points are given to all choices in the teaser, “teasing” them down, which results in lower payouts. The payout odds are determined by the number of chosen picks and the number of selected points.

All picks must be successful for the bet to win. If a selection in a teaser results in a push/draw, that pick is removed, and the odds will change accordingly.

Teaser example:

We have chosen a 2 team 6-point teaser, and our two selections are the Las Vegas Raiders +6 and the New York Giants +2.5. With a teaser bet, the additional 6 points are added to both teams presenting us with a new line: the Raiders t +12 and the Giants at +8.5. Both teams must win at these new lines for the bet to win. Instead of a 6-point teaser, a 6.5 or a 7-point teaser can be chosen, and the odds will be adjusted accordingly.

Understanding DraftKings sportsbook odds

Odds are a fundamental part of sports betting. It’s important to know how to read betting odds before you place a bet on any sportsbook. Operators set the odds and it’s important for bettors to know how they work. There are 3 main types of odds, Fractional, Decimal, and the most popular in the US, American. On a betting app, these are shown as three-digit numbers followed by a plus (+) or minus (-).

These odds indicate if you are going to bet on the favorite or underdog and how much money you can win should you bet $100. The higher the odds, the less chance the operator feels the selection will win. If you see the image below, this is how they are set out on DraftKings:

reading DraftKings football odds

Available sports on DraftKings sportsbook

DK sportsbook has the widest choice of sports for patrons to bet on. There are over 20 different sports and markets available to have a wager on, these include:

Academy awardsDartsRugby league
Aussie rulesFootballRugby union
BaseballGolfSnooker
BasketballHandballSoccer
BoxingHockeyTable tennis
CricketLacrosseTennis
CurlingMMAWinter Olympics
CyclingMotorsports

Tips for new DraftKings sports bettors

Not everyone who bets on DraftKings is a season Vegas pro. Most are new customers and new to betting. Sports betting isn’t all about putting a week’s paycheck on your favorite team. Betting can be fun and it is important to stay within your limits. Never bet more than you can afford to lose and if you feel betting has taken over, talk to someone. With that said, here are some quick tips when it comes to betting on DraftKings sportsbook.

Find a sport you feel comfortable with

If you are a huge tennis fan and watch every game religiously, don’t go and bet on the basketball if you have no idea on the game. Stick to a sport you know and one you feel you have the most information on.

Don’t overcomplicate your first bets

If you have read all this guide, you will know DraftKings offers lots of different bet types. To the pro, these all make sense, but to a new sports bettor, they will confuse you and leave you scratching your head. Stick to a simple moneyline bet until you find your feet.

Tips to bet on DraftKings

Take your time

There should be no rushing to placing your first bet with the book. Take your time to find your way around the app, look at the markets, browse different sports, see how the different bet types work, and only then should you place your bet.

How does DraftKings sportsbook work?

DraftKings has built a fantastic reputation for being an excellent daily fantasy provider before transitioning into one of the most established online sportsbooks in the US. However, if all of these betting terms are new to you and the world of online gambling seems complicated, you may want some information regarding placing bets online.

Fortunately, the online betting process on DraftKings is straightforward and works in the same way as it would if you were to visit a retail betting kiosk. The big difference is all of the options are at your fingertips, with everything being processed on the web.

DraftKings works by taking bets from customers. The sportsbook sets odds and allows customers to bet on what they feel the outcome of a game or match will be.

FAQs

How old do you have to be to bet on DraftKings?

You must be at least 21 years old to gamble on legal sportsbooks, including the Draftkings sportsbook.

How long for DraftKings bets to settle?

Bets are typically settled shortly after an event has finished. With a wide range of betting opportunities available to players, it is vital DraftKings settles all bets correctly. Consequently, it may take slightly longer than expected to receive any returns during hectic periods.