• Live Betting: ★★★★☆ 4/5
  • Live Streaming: ★★★★★ 5/5
  • Payment Methods: ★★★★☆ 4/5
  • Marketplace: ★★★★☆ 4/5
  • Safety: ★★★★★ 5/5
  • Bet Types: ★★★★☆ 4/5
  • Casino: ★★★★☆ 4/5
  • Daily Fantasy: ★★★★★ 5/5
  • Early Cash On: ★★★★★ 5/5
  • Pricing: ★★★☆☆ 3/5

2022's DraftKings Review [All You Need to Know]

Fact-checked
  • Live Betting: ★★★★☆ 4/5
  • Live Streaming: ★★★★★ 5/5
  • Payment Methods: ★★★★☆ 4/5
  • Marketplace: ★★★★☆ 4/5
  • Safety: ★★★★★ 5/5
  • Bet Types: ★★★★☆ 4/5
  • Casino: ★★★★☆ 4/5
  • Daily Fantasy: ★★★★★ 5/5
  • Early Cash On: ★★★★★ 5/5
  • Pricing: ★★★☆☆ 3/5

Best For

Those looking for an easy way to win money with sports betting

STRENGTHS

  • User-friendly interface
  • Extensive list of features
  • Huge base of players
  • Free contests

WEAKNESSES

  • Not available in all states/countries yet
  • The sign up process can be long

If you’re looking for a comprehensive DraftKings review, look no further! In this article, we’ll cover everything you need to know about DraftKings, from the overview to pricing, pros and cons, FAQs, and more.

So, without further ado, let’s put our money where our mouth is!

What Is DraftKings?

DraftKings is a Daily Fantasy Sports (DFS) platform that allows users to draft a team of real-life athletes and compete against other users for prizes. With millions of active users, it’s one of the most popular DFS platforms in the United States.

DraftKings offers two main products: online sports betting and daily fantasy sports. To use DraftKings, you must be at least 18 years of age, or 21 in some states. You can bet on DraftKings in these states: Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

DraftKings betting is illegal in the following states: Arkansas, California, Delaware, Florida, Maryland, Montana, Nevada, North Carolina, Ohio, Rhode Island, and Washington.

How Does DraftKings Work?

The main goal of DraftKings is to allow users to draft a team of real-life athletes and compete in various contests against other users. To do so, users must first create an account, and if the team they’ve drafted performs well, they’ll have a chance to win prizes. For example, whenever a player on your virtual team accomplishes something in real-world games, like making a hit, catching a pass, or scoring points, you get points too.

When it comes to how does live betting on DraftKings work, it works the same way as on any other sports betting site—simply log into your account, find the game you want to bet on, and place your bets. The odds will change in real-time as the game progresses, so you can make adjustments to your bets accordingly. Of course, there’s always a risk that you could lose your bet if the team you’re betting on doesn’t end up winning, but that’s all part of the fun, right?

The DraftKings’ business model is simple—the platform charges a fee to enter contests and keeps a percentage of it as a commission. However, DraftKings doesn’t have payout fees when users cash out their winnings.

Main Features

So, what are the main features of DraftKings? Let’s check them out:

Daily Fantasy Sports

Daily fantasy sports is the main attraction on DraftKings that lets you draft a team of real-life athletes and compete against other users for prizes. The draft process is simple and straightforward, and you can use various sports betting strategies to put together a winning team. The only rules are that you must draft a team within the salary cap and stay under the player limit.

Live Betting

How DraftKings live betting works, you ask? Well, you can bet on live NBA or baseball games as they’re happening, which means you can get in on the action even if you didn’t draft a team beforehand. Just find the game you want to bet on and make your pick! The odds will change in real-time as the game progresses, so you can adjust your bets accordingly.

Live Streaming

You can live stream games on DraftKings on both desktop and mobile devices. Also, you can live stream games on DraftKings TV.

Marketplace

The DraftKings marketplace is a place where users can buy and sell draft picks. This feature is available for both desktop and mobile devices.

Payment Methods

DraftKings payout methods are just as easy as the deposit methods—you can choose to receive your winnings via check, PayPal, or discovery credit card. Although there are plans for DraftKings to also become a bitcoin betting site soon, this isn’t available at the moment. You can set daily, weekly, or monthly limits on the amount you deposit into your DraftKings account.

Safety and Security

DraftKings takes safety and security seriously. Apart from the platform using SSL encryption to protect user data, DraftKings is also a member of the Fantasy Sports Trade Association (FSTA), which is a trade association promoting responsible gambling.

Bet Types

If you’re wondering how to bet on DraftKings, there are various gambling types available, including moneyline, point spread, parlay, and more. Each of the types of bets has different odds and payouts—for example, a moneyline bet is a bet on which team will win, while a point spread bet is a bet on how many points one team will win or lose by.

Casino

The casino feature on DraftKings is fantastic, as it lets you choose from various different games to play, and the graphics are top-notch. The benefits of playing in the casino are that you can win real money, and it’s a great way to relax after a long day.

Early Cash On

If you want to get your hands on your winnings as soon as possible, DraftKings offers early cash on, a feature that allows you to cash out of a contest before it ends. The amount you’ll receive depends on how your team is performing and the odds of winning. But how long does it take for DraftKings to pay out without this feature? It usually takes 2–7 business days.

Feature Rating
Live Betting ★★★★☆ 4/5
Live Streaming ★★★★★ 5/5
Marketplace ★★★★☆ 4/5
Payment Methods ★★★★☆ 4/5
Safety ★★★★★ 5/5
Bet Types ★★★★☆ 4/5
Casino ★★★★☆ 4/5
Daily Fantasy ★★★★★ 5/5
Early Cash On ★★★★★ 5/5

How Much Does DraftKings Cost?

DraftKings has various costs associated with it—the first is the entry fee, which is the amount you must pay to enter a contest, while the second is the rake, which is the percentage of the entry fee that DraftKings keeps as a commission. And finally, there are withdrawal fees, which are charged by DraftKings when you withdraw your winnings.

Entry Fees

The entry fee is the amount of money you must pay to enter a contest, and it varies depending on the type of contest. If you’re curious as to how the entry fee on DraftKings works, here are some examples—the entry fee for a head-to-head contest is $0.25, while the entry fee for a contest with 100 entries is $27.

Rake

The rake is the percentage of the entry fee that DraftKings keeps as a commission, and it also varies depending on the type of contest. For example, the rake for a head-to-head contest is $0.025, while the rake for a contest with 100 entries is $0.27.

Withdrawal Fees

Withdrawal fees are charged by DraftKings when you withdraw your winnings, and they vary depending on the method of withdrawal. So, how much does DraftKings withdrawal cost?

  • ATM Withdrawal – $2
  • ATM Withdrawal Decline – $0.75
  • Account to Bank Transfer – $2
  • ATM Balance Inquiry – $0.75
  • Inactivity Fee – $2.95

Ease of Use

Let me start with the sign up process. Although I can’t say it’s a quick process, it’s relatively easy—to create an account, you need to follow these steps:

Step 1: Go to DraftKings website, click Sign Up and choose the product you want to sign up for. You can choose between Daily Fantasy and Sportsbook.

Step 2: You’ll need to enter your username, email, and password. In case you have a valid promo code, this is the place to enter it.

Step 3: The next step is to enter your phone number so you can get a verification code.

Step 4: What is good about DraftKings is that you’ll be asked to enter personal information such as full name, home address, city, state and ZIP code, date of birth, and SSN (Social Security Number) to verify that it’s really you, ensuring a safer experience.

Step 5: Make your account more secure by providing a PIN number and Strong Authentication Protocol. After that, you’ll need to confirm your location again, and you’re done!

The website is very intuitive and easy to use. The lobby shows all the upcoming contests that you can filter by sport, entry fee, prize pool, and type of contest.

If you’re wondering how does DraftKings contests feature work, we got you—simply click on a contest you like and draft your team while keeping in mind you have a $50,000 virtual salary to spend on nine players. Once you’re happy with your team, click Enter Lineup.

If you want to research players before the draft, DK has a plethora of statistics and information on each player, which you can find simply by clicking on the Research tab that will take you to a page with all the relevant information.

Customer Reviews

Now that we’ve gone over the basics of DraftKings, let’s take a look at what users think about the site. The general consensus in many DraftKings reviews is that the platform is a fun and easy way to win money. Many people have had success with DraftKings, and have been able to withdraw their winnings without any problems.

However, there are a few complaints about DraftKings as well, the first one being that the signup process is a bit long and complicated. The second is that the fees associated with DraftKings can be high, especially if you’re not a successful player. However, DraftKings is overall considered a positive experience.

Customer Support

If you need to reach DraftKings customer service, there are a few ways to do so. The first is to click on the Help Center link at the bottom of the page, which will take you to a page with FAQs and contact information. The second way to reach customer support is to click on the Contact Support button at the bottom of the page, which will take you to a form where you can enter your name, email, and message.
The customer support will contact you back within 24 hours, and many users say the customer service representatives are polite and helpful.

DraftKings Alternative Platforms

If you’re not sold on DraftKings yet, there are a few alternatives you can try:

Company Win Lose Best for
DraftKings Big base of players, a lot of free contests, user-friendly website The sign up process is a bit long and complicated Those looking for an easy way to win money with sports betting
FanDuel Low minimum bet requirement, risk-free $1,000 for new users Limited withdrawal options, no loyalty program for customers Those who are just starting with online betting 
Underdog Fantasy Pick’em Style Contest, intuitive website Limited banking options, poor customer service Those who want to try something new
365bet Great customer support, low minimum withdrawals Complaints from customers for limited accounts, no mobile-specific promotions Those who want to bet on various sports

With a user interface that’s extremely sleek, it’s obvious that DraftKings put a lot of thought into making the experience as smooth as possible for its users. Another thing that makes DraftKings stand out is the customer service, which is pleasant and helpful.

DraftKings Review: Conclusion

There’s no doubt that DraftKings is a force to be reckoned with in the world of online sports betting. With a user-friendly interface and extensive list of features, DraftKings makes it easy for anyone to get started with placing bets on their favorite teams. And while there are certainly some drawbacks, it’s an overall great option for anyone looking to get into the world of online sports betting. So what are you waiting for? Sign up today and start placing your bets!

FAQ

What states is DraftKings legal in?

DraftKings betting is legal in the following states: Colorado, Illinois, Indiana, Iowa, New Hampshire, Pennsylvania, Tennessee and West Virginia. It’s also available in Canada, although there are some restrictions on which types of bets can be placed.

Does anyone win on DraftKings?

People win on DraftKings all the time! In fact, many people make a living by playing daily fantasy sports on DraftKings and other sites. Of course, like with any form of gambling, there’s no guarantee you’ll win money, but if you’re skilled at picking players and creating winning lineups, you can definitely make some money on DraftKings.

Is DraftKings a secure site?

Yes, like we mentioned before in this DraftKings review, the site uses industry standard security measures including 128-bit SSL encryption to protect your personal and financial information. Additionally, all sensitive data is stored on secure servers guarded by 24/hour physical security, so you can rest assured your money and personal information is safe when you bet on DraftKings.

ABOUT AUTHOR

I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.