Bonus funds typically release within 1 hour of contest lock or bet settlement. If you have any questions or concerns, please reach out to support@draftkings.com. How to Bet 101 Ready to get started with DraftKings Sportsbook? You can jump in and place multiple types of bets, including live in-game bets across. You need to draft guys who might have a breakout night. If you’re playing in a 50/50, the payout structure will be flatter. Half of the entrants get paid, and everyone gets paid the same amount. You don’t need to take as many risks because you’re not trying to land in the top 10 of the field. You just need to end up in the 50th percentile.

When you first set your eyes on DraftKings, you will notice the sparse elegance of a site that doesn’t seem to be yelling out “look at us!” This is because DraftKings are world renowned for their wealth of contest types, variety of sports, and same-day payout methods. You can almost double your money by taking advantage of their welcome bonus, and you will continually be rewarded for being a loyal member. There are so many advantages to joining DraftKings that we are surprised that it is all free.

The same-day payouts are astounding. You can use PayPal or choose to receive a check, which usually takes less than a week to arrive. Both methods are excellent, but PayPal is obviously the faster of the two. Since you can use PayPal to deposit as well, the majority of members conduct all of their transactions by simply sending and receiving funds between accounts. Withdrawal processing is available Monday-Friday from 9 to 5, and will take 2-7 business days to complete. Whether you choose PayPal or check, you will be surprised with how simple and fast your money comes.

Many people wonder if they have to pay taxes on their winnings. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. This is standard operating procedure for daily and traditional sports betting sites, and is one of the requirements for DraftKings, and sites like it, to stay in business. Similar to the lottery, profits are taxed, and that’s the way it has been forever.

The answer is simply “Class”. DraftKings knows how to treat their members, and they do it in style. Right off the bat you will be presented with the opportunity to double your initial deposit. This will allow you to play with an additional cache of confidence knowing that you are receiving something on the back end. The bonus is doled out in increments the more you play, so you will be continually rewarded just for doing what you signed up to do. That puts DraftKings head and shoulders above many other daily fantasy sports sites, and we haven’t even mentioned the other bonuses. We will let you find out what promotions and special contests are available by yourself, we don’t want to spoil all the fun.

Absolutely they are! Playing traditional fantasy sports contests for real money has been a safe and legal pastime for a while, and daily fantasy sports are no different. The laws that regulate a sportsbook payout in general have strict definitions of what “unlawful” gaming is. Fantasy sports are specifically exempt from these definitions, and are considered games of skill rather than chance. This is why DraftKings can function in the USA, and offer safe deposit and payout methods.

Who Can Join DraftKings?

Although fantasy sports are considered games of chance, and are therefore legal in the federal statutes, some individual states either restrict residents from playing for money, or have confusing language in their laws. Because of this, DraftKings cannot allow residents of Arizona, Iowa, Louisiana, Montana, or Washington to play in cash contests. They can however compete in free contests and tournaments on the site. America seems to be going in the direction of fully accepting daily fantasy sports as a legitimate game of skill, so these states might soon change their tune. In the meantime, write letters to your local government!

DraftKings continues to be one of the hottest daily fantasy sites. Even though it’s slightly smaller in overall size than FanDuel, it’s the site of choice for tens of thousands of fantasy sports fans.

Having said that, it doesn’t matter how popular DraftKings is if you’re unable to win. Whether you’re playing fantasy football, baseball, soccer or golf, it’s the chance to win cash prizes that keeps you playing.

How do you win over the long run? It’s a matter of doing solid research, knowing how to draft good talent, watching your competitors’ lineups and managing your bankroll. It’s more complex than it sounds. Entire books can be written on each of those steps.

How Long Does It Take To Get Paid On Draftkings

For example, bankroll management entails more than just knowing how much money you have in play. It also takes into account how to get through losing streaks, splitting your roll between low-stakes and high-stakes contests, and, of course, paying taxes on your winnings.

I’ll boil down the most important points in this two-part series.

Updated for 2019-2020 NFL season

A Crash course on Winning at DraftKings

The current landing page at DraftKings. Cannot help but notice that you’ll get a free entry with your first deposit!

Since NFL is the hottest fantasy sport by far, I’ll use examples from football. But don’t let that throw you. The 10 points we’ll cover below and in an upcoming post apply whether you’re playing daily fantasy baseball, golf, hockey, basketball or any other sport.

Let’s get on with the first key…

1. Adjust Your Draft Strategy By Contest Format – Cash Game or Tourney

That advice might seem trite. But contest format plays a huge role in how you draft talent. Your priorities will change with the size of the contest and its payout structure.

We’ve talked about this in the past, mostly as it pertains to guaranteed prize pool (GPP) tournaments and 50/50s (cash games). Here’s the gist:

Cash game line-up’s vs GPP Tourney line-ups.

If you’re playing in a large-field tournament, the payout structure is going to be top-heavy. Approximately 10-15% of the field will end up in a cash position, and most of the money will go to the top 10 players. That being the case, you need to take risks to land in a cash position. You need to draft guys who might have a breakout night.

If you’re playing in a 50/50, the payout structure will be flatter. Half of the entrants get paid, and everyone gets paid the same amount. You don’t need to take as many risks because you’re not trying to land in the top 10 of the field. You just need to end up in the 50th percentile.

Here’s one way to think about the draft – the flatter the payout structure, the more guaranteed points you want to log. That includes 50/50s and head-to-heads. The more top-heavy the payout structure, the more breakout performances you need if you hope to cash.

2. Tread Carefully When Drafting Sleepers

Everyone dreams of picking a sleeper who breaks out and has a huge night. The team owner not only cashes, but ends up looking like a fantasy sports master. When it works, it almost seems like magic.

The problem is, most fantasy players find that picking sleepers rarely works to their advantages. They pick speculative talent, hoping for a miracle. But when the dust clears, they find their sleepers still sleeping.

It’s not that picking sleepers is a bad fantasy play. It can work stupendously well if you know what you’re doing.

That’s the key: being selective.

Remember, a low salary doesn’t imply hidden talent. More often than not, it means the player isn’t expected to turn in a major performance that week.

Drafting sleepers can be a great tactic in building a winning roster. But picking players who break out takes research and a fair amount of luck. It’s not just throwing darts at a board. Listen to the talking heads each week but remember that so are thousands of others. Find those guys who aren’t being talked about so much but who look like they might end up with quality playing time due to an injury or opponent or other myriad of factors.

3. Check The Latest Injury Report

This should go without saying. But every day, fantasy players at DraftKings clearly forget to check the injury report before constructing their lineups. When game time arrives, they’re stuck with players who end up missing their games.

For example, according to the latest NFL injury report (at the time of writing), the Falcons’ Jeremy Langford is out with an “undisclosed injury”. Is he going to make their first season game against the New York Jets? Who knows? He’s currently listed as “Questionable”. If he ends up missing training camp or some games, you don’t want him on your roster.

The same goes for Jaelon Acklin, wide receiver for the Baltimore Ravens. He’s also dealing with an undisclosed injury and may miss training camp and/or some games. Will he play that first week against the Jaguars? At this point, it’s anybody’s guess. His status is also listed as “Questionable”.

The point is that you should always check the most recent injury report to make sure your lineup is filled with guys who are going to show up. The last thing you want to do is waste your salary cap on players who will add zero points to your score and your chances to win.

4. Learn How To Work DraftKings’ Bonus Points

The scoring system at DraftKings includes a few bonus items that a lot of team owners neglect. If your players hit certain numbers, you’ll earn extra points!

Take a look at the DraftKings’ scoring system for weekly fantasy football. Hidden in the numbers is a 3-point bonus if your QB passes at least 300 yards. You’ll also receive a 3-point bump for logging at least 100 rushing yards. And you’ll receive another 3-point bump for logging 100+ receiving yards.

You want players who can turn in those numbers.

QB Bonus Points
In the QB slot, that means keeping an eye on Ben Roethlisberger, Patrick Mahomes and Matt Ryan for starters heading into the season. They were the head honchos for QBs last year, will they do it again?

Your receivers can bring you a lot of bonus points. You have 3 WR slots to fill at DraftKings, and each one can potentially earn you 3 points by receiving 100+ yards. Julio Jones, DeAndre Hopkins, Mike Evans and Tyreek Hill,lead the pack last season. Each one turned in an average of 100+ yards per game. Again with these gentlemen, will they be able to do it again?

The rushing bonus at DraftKings is tougher to earn. There are two reasons. First, you only have two running back slots to fill at DraftKings. There isn’t as much opportunity in your roster as you have with your three receivers.

Second, there aren’t a lot of RBs who maintain an average of 100+ rushing yards per game (current group).

Bottom line: the bonus points at DraftKings can come in handy, especially when you’re trying to squeak past other team owners in a small league or 50/50. But don’t rely on them. They’re tough to earn.

How Do You Get Paid Out On Draftkings

5. Establish Your Bankroll Metrics

As I mentioned earlier, bankroll management in daily fantasy sports involves more than just keeping track of how much cash you have at risk. You need to start with a plan that gives you control over your daily and weekly spend. Then, you need to figure out how many bets you should have in play at one time.

The most reliable way to do that is to come up with a formula that reflects your results. As you win more contests, your optimal number of bets will change.

Here are a few guidelines I recommend if you’re just getting started in fantasy sports.

• First, limit your daily spend to 10% of your entire bankroll. If you deposit $200, don’t risk more than $20 in entry fees each day.
• Second, track your wins and losses. Make a note of the date, sport, contest format, field size, entry fee, and dollars won or lost. It doesn’t matter if you do this with a legal pad and pencil or on a spreadsheet. I prefer the latter since it allows me to sort the data. The most important thing is that you do it.
• Third, use a formula that takes your results into account to determine how much money you should risk each day (or week for fantasy football). There are several formulas you can use. A lot of veteran fantasy players use the Kelly criterion. We’ll discuss that method, as well as other bankroll management issues, in more detail in the near future.

Those are the basics when it comes to bankroll management. The key is to reach a point where you don’t have to think about how much to play. Your metrics will lay it all out for you.

More Awesome Reading Awaits!

• DraftKings review.