Review of DraftKings Daily Fantasy Sports Site

Click Here To Play Daily Fantasy Sports at DraftKingsDraftKings is unquestionably the leading operator of daily fantasy sports contests (DFS) in America today. That’s true no matter what aspect of the company’s success you consider, from the vast array of sports options available to its slick and easy-to-use interface, but the headliner is the payouts – and they are monstrous indeed. Take for instance the fact that DraftKings awarded more than $1 billion in total prizemoney in 2016. What’s more, DraftKing paid $1 million to a new individual winners every week of the NFL season last year, and in the first week of the 2016 season four different players of the hundreds of thousands registered with the site become overnight millionaires.

A company doesn’t get to that level without having the goods to back it up, and our DraftKings review will break down of the information you’ll need to make the most of your daily fantasy sports experience and, hopefully, help you get some of that multi-billion-dollar prizemoney.

As befits its status as the leading DFS company on the market, DraftKings pioneered and perfected several innovations that have come to be industry standards. These special features include a salary cap model that puts players on a level playing field by giving every fantasy participant a certain monetary amount the work with when recruiting their lineups (that’s the “draft” part of DraftKings’ name), as well as the ability to monitor your fantasy team’s performance live via computer or mobile device. Additionally, the sheer variety of sports available for fantasy contests at DraftKings is borderline staggering – though the NFL is by far the biggest draw, attracting players from around the globe by the hundreds of thousands, DFS contests are offered for MLB, NHL, NBA, golf, NASCAR, mixed martial arts and several other sports.

DraftKings Basics:

DraftKings Website: www.draftkings.com
DraftKings Location: Boston, MA USA
Where is DraftKings Legal? All US States, EXCEPT: Alabama, Arizona, Hawaii, Idaho, Iowa, Louisiana, Montana, Nevada, Washington
DraftKings Deposits:
Deposit Options: Minimum Maximum
CREDIT CARDS: $5.00 $2,000
PAYPAL: $5.00 $2,000
DraftKings Payouts:
Payout Options Minimum Maximum
CREDIT CARDS:    
PAYPAL:    
CHECKS    
DraftKings Bonuses: Get up to $600 in Bonus Credits
DraftKings CS: csupport@draftkings.com
DraftKings Telephone: No Telephone Support

How To Use DraftKings

In this review of DrafKings we will take a look at various aspects of using the site and how each feature works, and we’ll also explain some of the finer points regarding things like choosing a game, making deposits, collecting your winnings, downloading the DraftKings mobile app, taking advantage of available promotions and so on. We will also dive into the legal issues of participating in DFS contests and answer some frequently asked questions about DrafKings and daily fantasy sports in general.

Getting Started On DraftKings

DraftKings, which was founded in Boston, Massachusetts back in 2012, has one of the easier-to-use websites in the DFS industry, buts it’s not just easy to use - it is also thoroughly well thought-out in terms of aesthetics, giving everything a very “slick” look. This only bolsters the impression that DraftKings is a high-quality, professionally managed website. Good looks aside, you’ll find everything you need laid out in a very logical manner, so locating the sign-up menu is a cinch.

In fact, prior to actually creating your free account, practically every button you can click on will take you to the sign-up menu. You’ll be prompted to enter information like a username, email address, password, location (either in or outside the United States) and your date of birth (you’ll need to be at least 18 to participate in DFS contests in most states). Once you’ve successfully signed in, your account will be credited with $50,000 of in-game currency – be aware that this is strictly to be used for recruiting athletes to your fantasy team lineup and is not real-world money.

Picking A DraftKings Contest

After you’ve logged in and received your $50,000 recruitment credits, it’s time to pick the contest you want to participate in. DraftKings offers numerous options under the contest lobby dropdown tab located at the top of the main page. As of this year, the list of sports available for daily fantasy contests includes NFL, NBA, MLB, NHL, golf, NASCAR, mixed martial arts, Canadian Football League (CFL), various soccer leagues including EPL, MLS, La Liga, Liga MX and Champions League. A recent addition is fantasy eSports, though for now play is limited to League of Legends only.

DraftKings uses a live scoring system whereby players can monitor the progress of the contests they’ve signed up for, with up-to-the-minute score updates. This system makes it easy to keep up with the on-field action as it happens in real time. As you probably already know, each sport uses a different scoring system, so it behooves you to be well-versed in in the particulars of the sports you’re participating in before you lock in your fantasy lineup.

DraftKings Contest Types

No review of DraftKings would be complete if we didn’t cover one of the more exciting aspects of this daily fantasy sports site’s offerings: multiple contest types. Picking a sport is only half of picking a contest, as DraftKings keeps things interesting by making numerous contest types available to players, some of which are industry exclusives. As of this year, DraftKings offers the following contest types:

Beginner – everybody has to start somewhere, and the beginner contest type is suited for you if you’re in that category. That’s because DraftKings will match you with other newbie players, enabling you to work on perfecting your strategy without having to worry about facing more advanced players. You can still win money in these contests, but usually not as much as in other types.

Guaranteed Prize Pool – often shortened to GPP, these are tournament-style contests with a large number of entrants. The bigger cash prizes are available the higher up in the tournament bracket you make it, but usually the top 10 percent of entrants will win real money.

50/50 (Double-Up) – these contests are popular with more skilled players, as they enable entrants to win amounts worth twice the entry fee for finishing in the upper half of all contestants.

Multipliers – these are basically the bigger, badder version of 50/50 contests and are usually dominated by very experienced players. Entrants can expect to win anywhere from three to ten times the initial entry fee if their lineup does well in a given contest.

Head-to-Head – these contests are great for players who want to go mano-a-mano with a friend, and many a daily fantasy sports rivalry was played out using this contest type as well. That’s because this is a winner-take-all contest, in which the victor wins double his or her entry fee.

Qualifiers/Satellites – think of these contests as stepping stones to more prestigious and more profitable tournaments. Qualifiers, also known as satellites, give winners and players that finish in the upper echelons of DraftKings contests to advance to other contests that may be worth some truly high-dollar prizes.

Step Tournaments – this contest type is similar to the previously discussed type, except that winners advance in rank from very low entry fees (a minimum of $2) through four successive levels, vying for the chance to win cash prizes of as much as $200.

Leagues – this is one of the newest additions to the DraftKings contest type list. In essence, players can form their own private daily fantasy contest to play amongst friends on an invitation-only basis. Real money can still be won in these games, but the limits may be lower than contest types open to all players.

FreeRoll – these free-to-enter contests are the polar opposite of every other type we’ve mentioned so far. Winners don’t receive real money for picking the best lineups. Instead they win DraftKings Dollars – a form of token that can be exchanged for various things on the main DraftKings (entry into other contests, for example), but not redeemed for cash. This is the only form of DraftKings play available in some states.

How To Choose A DraftKings Lineup

So you’re all signed up, and you’ve decided what sport and what contest type you’re interested in, but you still aren’t sure how to choose your DraftKings lineup. Fortunately, this is not too arduous a task, and it’s actually one of the most enjoyable parts of playing daily fantasy sports. As we previously mentioned, DraftKings uses a simulated salary cap system wherein players are given $50,000 with which to draft their fantasy lineups.

This is where a lot of the strategy involved in DFS comes in, because better athletes with higher stats will accordingly command higher “salaries,” so you’ll have to decide which positions to emphasize in order to get the best players possible while not going over your salary cap. Once you’ve decided on your lineup, lock in your roster by clicking the enter button and join the contest you selected earlier. From then on, it’s all up to your chosen athletes, so be sure to keep a close eye on how your fantasy team is doing in case you need to make a substitution, which is also allowed at DraftKings provided you don’t exceed the limit of your salary cap.

Making A DraftKings Deposit And Collecting Payouts

DraftKings makes depositing money to enter a paid contest a breeze thanks to widespread acceptance of most common credit cards (American Express, Discover, Mastercard and VISA) used by American players. The company also offers alternative forms of payment, namely via a certified PayPal account. There is no limit on deposit amounts, but you will need to be careful about locking in your funds, as there is no option to get a refund. Contact DraftKings’ excellent customer service department if you should ever need to increase your deposit limit, but be sure to play responsibly.

Withdrawals are similarly simple. After you’ve won a few daily fantasy contests and want to withdraw your winnings, you will only need to click through a few screens in which you’ll be asked whether you prefer to be paid via Paypal or the credit card with you made your deposit. DraftKing usually requires 48 hours to process a payout, but in some instances this may be extended out to seven full business days. All payouts are processed during regular business hours (9 a.m. – 5 p.m. Eastern Time), Monday through Friday.

Special Events And Promos At DraftKings

Click Here To Play Daily Fantasy Sports at DraftKingsFantasy football is the jewel in the DraftKings crown, and the NFL season brings with it tons of great promos and other special events for DraftKings players. All these exciting special events can be found easily by clicking the “Promos” tab at the top of the main DraftKings homepage. Some of the biggest are the NFL Billion Dollar Lineup, in which players that draft the lineup that scores the most possible points within the salary cap and following certain position requirements can win up to up to $1 billion. However, as the possibility of drafting the hypothetical “perfect” NFL lineup is pretty low, there is a guaranteed $100,000 payout at the end of this free-to-enter contest.

Another prominent NFL promos going on at DraftKings include the 2017 Fantasy Football World Championship in Miami, to be held on December 17 in time for NFL week 15. DraftKings players can qualify up to eight times between the opening week of the season and week 14, with those making it all the way to the end of the contest can play for a grand prize of $2 million, with total prize money topping out at $12 million.

Finally, there’s the King of the Beach promo, set to take place on December 3 live in Key West. In order to qualify for this promo (and the $100,000 top prize), 180 DraftKings players will have five opportunities to advance to the next round between NFL weeks 1 and 10. Only 50 players will make it to the final showdown in Key West, so go ahead and enter if you think you’ve got what it takes – the entry fee of only $3 makes it a tempting offer.

DraftKings FAQs

Is It Illegal To Play Daily Fantasy Sports At DraftKings?

This is technically a dicey question to answer. The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) specifically excludes daily fantasy sports, including DraftKings, from the prohibitions on processing online gambling-related transactions it placed on financial institutions. This loophole was originally conceived of as a means to protect operators running season-long fantasy contests, but DFS operators also use the carvout as a legal defense against states looking to classify fantasy sports as “games of chance” (i.e. gambling) and ban the practice.

All that is to say there is no federal or state law that specifically outlaws playing DFS. Nevertheless, there are some states that prohibit their residents from participating in paid-entry contests at DraftKings and other DFS operators. These states include Alabama, Arizona, Delaware, Hawaii, Idaho, Iowa, Louisiana, Montana, Nevada and Washington, though this list is subject to change.

What Bonuses Are Available For New DraftKings Players?

Deposit bonuses are available to new players, with DraftKings offering to double the amount of the first deposit up to $600. Alternatively, a new player can gain free entry to a paid-entry contest with an entry fee of $3. New player bonuses are also available based on referrals – that is, if you recommend DraftKings to your buddies. Basically all you need to do is post a link to DraftKings via email, Facebook or Twitter, and if that link generates new user signups, then you will receive $20 in DrafKings Dollars that can be redeemed for free contest entries or DraftKings-branded merchandise. Bonuses expire four months after being accepted if they aren’t used within that timeframe, so don’t wait if you’re eligible to use your DraftKings Dollars.

Does DraftKings Have A Mobile App?

DraftKings is one of the companies that has really embraced smartphone technology in recent years, and was in fact an early adopter of the concept of mobile fantasy sports. DraftKings has a free-to-download mobile app available in both the Apple and Android app store. That being said, DraftKings is accessible using the internet browser on smartphones, tablets and other mobile devices. It isn’t strictly speaking necessary to download the mobile app to play DFS on the go, but in the opinion of this DraftKings review writer it would make the process much easier and more streamlined.

Are DraftKings Winnings Taxed?

DraftKings will send you a 1099 tax form in the mail, but ONLY if you win more than $600 over the course of the year. You won’t get rich quick playing DraftKings, especially not at the beginning, so there’s little worry of being taxed on your winnings. However, some people are extremely skilled at DFS right from the start. It’s just something to think about.

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