In basketball terms, a new hoops-inspired offer from DraftKings Sportsbook for first-time depositors is all net.
If you’ve been dragging your feet when it comes to legal sports betting in Virginia, DraftKings’ newest promotional offer may be just the impetus you need.
After all, 100-1 odds that a three-pointer will be made? At any point in the game? NBA or NCAA? And a $100 payoff awaits when it’s all over?
It’s not often you get an easy layup like that.
But first, we need to jump into the detail of the promo offer.
To claim the promo offer just click here.
DraftKings Sportsbook offer for new VA customers
The promotion, which runs through Feb. 28, is for customers who have never previously deposited at DraftKings. The prominent sports betting and DFS site went live in Virginia on Jan. 24.
That deposit into your sportsbook account must be at least $5.
Afterward, simply place a moneyline or point spread bet on any NBA or NCAA men’s basketball game before tip-off. You can bet as little as $1, but live bets, parlays, free bets, cashout bets, and voided bets do not count.
If the team you bet on, the Washington Wizards, for example, makes at least one three-pointer during the course of the game, you’ll be issued a $100 bonus. In fact, you’ll get the $100 bonus even if you lose your spread or moneyline bet. As long as a 3-pointer is made, you get the 100-1 payoff from DraftKings Sportsbook.
That bonus will be issued as four free bets worth $25 each. Just be sure to use the free bets within seven days, or they’ll be voided.
The free bet amount is not included in any returns or winnings. It’s also not redeemable for cash, and it’s non-transferable and non-refundable.
Wait, is this too good to be true?
Perhaps a little transparency is needed here.
If you’re new to VA sports betting and the world of legal and regulated sportsbooks, this offer probably looks good. Maybe a little too good. Suspiciously good, even.
Rest assured, though, that if you follow the guidelines, your 100-1 payoff awaits.
So, what’s in it for the sportsbook? I mean, it’s pretty much a losing proposition for DraftKings, right? After all, even the worst 3-point shooting team in the NBA (Cleveland Cavaliers) makes nine 3-pointers per game. The worst college team, Lehigh University, makes 4.4 per game.
So, how can the bet lose? That’s the thing: It’s not really supposed to.
As more and more VA sportsbooks come online, and as operators jockey for customers and market share, their marketing budgets are substantial. They will pay handsomely to sign up new customers, and a lot of that money can find its way to savvy players’ sportsbook accounts in the form of promos, bonuses, and free bets.
As for this promo, your options will be limited if you want to bet on a local team. The Wizards have six games between now and the promo deadline of Feb. 28. However, Virginia sportsbooks aren’t allowed to accept wagers on in-state schools such as the University of Virginia and Virginia Tech, so those NCAA games aren’t eligible.