If you’re into sports betting, FanDuel Sportsbook is one of the biggest names out there. Whether you’re looking to bet on the Super Bowl, NBA Playoffs, or the Kentucky Derby, FanDuel has competitive odds, live betting, and some solid promotions.
But is it really worth signing up? Let’s break it down—from their welcome bonus and promotions to the betting options and how it stacks up against other sportsbooks.
FanDuel Sportsbook Welcome Bonus: Bet $5, Get up to $350 in Bonus Bets
If you’re new to FanDuel, the welcome deal is “Bet $5, Get up to $350”, and it pays whether your bets win or lose. Here’s how it works:
Sign up for a new account through our link (no promo code needed).
Deposit at least $5 (just enough to qualify for the bonus).
Place a $5 cash bet on any sport.
Win or lose, you get $50 in bonus bets, usually within 72 hours.
Repeat with a $5 bet on each of the next six days to collect the full $350.
For example, let’s say you bet $5 on the Lakers to beat the Celtics at -110 odds. Whatever the result, $50 in bonus bets lands in your account, and if the Lakers win you collect your winnings as well. Do the same every day for a week and you’ve banked $350 in bonus bets from $35 of your own money.
➡️ Playthrough Requirement? Nope, these bonus bets can be used immediately. Just keep in mind that you can’t withdraw them directly—you need to place bets with them first.
FanDuel Promo Codes for Existing Customers and Ongoing Promotions
Even though the welcome offer doesn’t need a promo code, FanDuel still runs other promotions that might need one. Here are a few common ones:
Profit Boosts: Daily boosts on popular games and props. Example: instead of the Chiefs to win at +200, you might get +250.
No Sweat Same-Game Parlays: If your parlay loses on a selected No Sweat market, you get a refund in bonus bets.
Free-to-play games: Pick’em contests and daily games that pay out profit boost tokens or bonus bets.
Refer-a-Friend Bonus: Get bonus bets when your friend signs up, deposits and places a first bet through your link — the amount changes from season to season, so check the referral page in the app.
To find these promos, just check the ‘Promotions’ section in the app.
FanDuel Sportsbook covers everything from NFL and NBA to soccer, MMA, and even horse racing. Here are some popular bet types with real examples:
Moneyline Bet (Simple Winner Pick)
You bet on the 49ers to beat the Eagles at -150 odds. If they win, you get your bet + profit back.
Spread Betting (Winning Margin)
The Celtics are -6.5 favorites against the Bucks. That means they need to win by 7+ points for your bet to win.
Totals (Over/Under)
Yankees vs. Red Sox Over/Under 8.5 Runs. If the game ends 5-4, Over hits. If it’s 4-3, Under wins.
Same-Game Parlay (Multiple Bets on One Game)
You bet on Messi to score, Miami to win, and over 2.5 goals in the match. If all three hit, you win big.
FanDuel & Horse Racing: Bet on the Kentucky Derby
FanDuel also runs FanDuel Racing, where you can bet on horse races across the U.S. including the Kentucky Derby and Breeders’ Cup.
FanDuel Racing runs its own welcome offer for new racing customers, separate from the sportsbook bonus — our FanDuel Racing promo code page has the current deal and terms. Kentucky Derby bets go through the FanDuel Racing app, not the sportsbook.
You bet $100 to win on a 10/1 long shot.
If the horse wins, you collect about $1,100 — $1,000 profit plus your stake. Racing is pari-mutuel, so the final payout moves with the pool.
If the horse loses, you lose the stake, unless a racing promotion covers it.
How Does FanDuel Compare to Other Sportsbooks?
Feature
FanDuel
DraftKings
BetMGM
Welcome Bonus
Bet $5, Get up to $350
Spend $5, Get $200
First Bet Offer up to $1,500
Live Betting
✅ Excellent
✅ Great
✅ Solid
Odds Boosts
✅ Daily
✅ Daily
✅ Daily
Parlay Insurance
✅ Yes
✅ Yes
✅ Yes
Loyalty Rewards
❌ No
✅ Yes
✅ Yes
FanDuel vs. DraftKings
DraftKings has more promotions, but FanDuel’s interface and live betting are better.
DraftKings has a loyalty program, but FanDuel is faster with payouts.
FanDuel vs. BetMGM
BetMGM has a bigger VIP program, but FanDuel offers more frequent odds boosts.
FanDuel’s app is smoother, while BetMGM’s interface feels a bit clunky.
Pros & Cons of FanDuel Sportsbook
✅ Pros:
✔️ Easy-to-use app – one of the best in the industry. ✔️ Fast payouts – PayPal & online banking options are quick. ✔️ Great live betting – Odds update quickly in real time. ✔️ Huge betting markets – Covers everything from the NFL to tennis and horse racing.
❌ Cons:
❌ No loyalty program – Unlike BetMGM or DraftKings, you don’t earn points. ❌ Fewer promos for existing users – Some competitors offer better ongoing bonuses.
Our Verdict: Is FanDuel Worth It?
Yes! FanDuel Sportsbook is one of the best options in the U.S. Whether you’re betting on the Super Bowl, March Madness, or the Kentucky Derby, they offer solid odds, quick payouts, and great live betting features.
While they could improve loyalty rewards, their user-friendly app and strong odds boosts make them a top choice.
★ Terms
FanDuel Bonus Terms Explained
FanDuel’s welcome bonus is one of the simplest to clear in the US market, but there are still a few rules worth knowing before you sign up.
Rule
What it means
Qualifying bet
Your first $5+ cash bet of the day, on any sport and at any odds, for seven straight days
Win or lose
The $50 daily bonus pays whatever the result
Bonus bet expiry
Seven days from the moment each batch lands
Withdrawals
Bonus bets can’t be cashed out; only the profit from a winning bonus bet is paid in cash
What doesn’t count
Cashed-out bets and bets placed with bonus funds or profit boost tokens
Who can claim
New FanDuel Sportsbook customers, 21+ (18+ in DC, Kentucky and Wyoming)
Bonus bets don’t return the stake. A $25 bonus bet at +100 pays $25, not $50, so they work best on plus-money prices. Our guide to how free bets and bonus bets work walks through the math.
Is there a FanDuel no deposit bonus?
No. FanDuel doesn’t offer a no deposit bonus to new sportsbook customers. You need to fund the account with at least $5 and place a cash bet to unlock the welcome offer.
Do you need a FanDuel promo code?
No. FanDuel doesn’t use promo codes for its welcome offer — sign up through our link and the bonus is added to your account automatically. Any site promising a secret FanDuel code is selling you the same offer under a different name.
★ Banking
FanDuel Deposits, Withdrawals and Payout Speed
FanDuel takes deposits from $5 and lets you withdraw from $1. Debit card, Apple Pay, PayPal, Venmo, online banking and the FanDuel Play+ card all fund your account instantly.
Withdrawal method
Typical time
Debit card
Within a few hours
PayPal, Venmo, Apple Pay
Usually the same day
FanDuel Play+
Usually within a day
Online banking (ACH)
Around three business days
Cash at a partner casino cage
Often within an hour
Check by mail
Up to eight business days
Your first withdrawal can take up to 48 hours while FanDuel verifies your identity, so upload your ID when you sign up. Help is available around the clock through live chat and by email at support@fanduel.com.
★ App
FanDuel Sportsbook App Ratings
The FanDuel Sportsbook app holds a 4.8-star rating on the App Store from more than two million reviews and 4.4 stars on Google Play. It’s mobile-first, quick to load on game days, and the same-game parlay builder remains the one rivals try to copy.
★ App screenshots
FanDuel App Screenshots and App Store Rating
Official screenshots of the FanDuel app from its App Store listing. The app is rated 4.8 out of 5 from 2,295,951 ratings on the App Store.
FanDuel Sportsbook app — now available in every FanDuel stateFanDuel promo: get $350 in bonus bets when you bet $5 for 7 daysFanDuel refer-a-friend bonus: earn up to $200
★ Licensed states
Where FanDuel Is Licensed: Bonus and Promo Code by State
FanDuel is legal in 24 states plus DC: AZ, AR, CO, CT, IL, IN, IA, KS, KY, LA, MD, MA, MI, MO, NJ, NY, NC, OH, PA, TN, VT, VA, WV and WY. It is licensed state by state, usually through a casino, tribe, racetrack or team that holds the local license, and the welcome offer is not always the same everywhere. Here is every state, the license partner and the offer you get there.
There isn’t one. FanDuel doesn’t use promo codes for its welcome offer. Sign up through our link and the bet $5, get up to $350 in bonus bets offer is applied automatically.
How does the FanDuel bet $5, get $350 offer work?
Deposit at least $5, then place a $5+ cash bet. Win or lose, you get $50 in bonus bets. Do it again on each of the next six days to collect up to $350 in total.
Does FanDuel have a promo code for existing customers?
Not as a code. Existing customers get daily profit boosts, No Sweat bets, free-to-play games and a refer-a-friend bonus, all opted into from the Promotions tab in the app.
Can I withdraw bonus bets from FanDuel?
No, you need to wager them first. If a bonus bet wins, you keep the profit as cash, but the bonus stake itself isn’t returned.
How long do FanDuel bonus bets last?
Bonus bets expire 7 days after you receive them, so use them quickly!
What states is FanDuel Sportsbook available in?
FanDuel is live in Arizona, Arkansas, Colorado, Connecticut, DC, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Vermont, Virginia, West Virginia and Wyoming, plus Puerto Rico.
Is there a FanDuel no deposit bonus?
No. You need to deposit at least $5 and place a cash bet to unlock the FanDuel welcome bonus.
What is the minimum deposit at FanDuel?
$5. That’s also the size of the qualifying bet for the welcome offer.
Can I use the FanDuel bonus on horse racing?
No. Sportsbook bonus bets can’t be used on racing. Horse racing runs through FanDuel Racing, which has its own welcome offer.
