A “Bonus Bet” on DraftKings is a promotional offer that provides users with additional betting value. When DraftKings offers a Bonus Bet, it typically allows bettors to place a wager with extra odds or a free bet amount that doesn’t come out of their own bankroll.
Here’s how it generally works:
1. **Promotion Activation**: Users may need to opt into the promotion, make a qualifying deposit, or place a certain number of bets to receive the Bonus Bet.
2. **Using the Bonus Bet**: Once the Bonus Bet is available, users can use it to place a bet on a sports event. The bet could have enhanced odds, meaning if the bet wins, the payout could be greater than a standard bet. Alternatively, it could be a risk-free bet where if the bet loses, the stake is refunded to the user’s account, up to a certain amount.
3. **Terms and Conditions**: There are usually specific terms and conditions attached to Bonus Bets, such as expiration dates, minimum odds requirements, and restrictions on the types of bets that can be placed with the bonus.
4. **Withdrawal Restrictions**: Winnings from Bonus Bets may include restrictions, such as needing to roll over the winnings a certain number of times before they can be withdrawn.
It’s important for users to read the terms and conditions of any Bonus Bet offer carefully to understand how it works and what the requirements are for using and cashing out the bonus. DraftKings and other sportsbooks offer these promotions to attract new customers and to keep existing customers engaged.