How to Bet Responsibly at DraftKings

Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Last Updated: Mar 5, 2024, 8:08 PM

All About DraftKings

DraftKings, a household name in the U.S. sports betting industry, offers a comprehensive online sportsbook experience. Established in 2012, it has evolved from a fantasy sports platform to a leading sportsbook following the 2018 legalization of sports betting outside Nevada. With its headquarters in Boston, DraftKings is known for its user-friendly interface, extensive betting markets, and robust customer support. It's operational in over 20 U.S. states and adheres to strict licensing and regulatory standards. This guide aims to navigate new users through the process of signing up, understanding bet types, and effectively managing their DraftKings account.

Sign Up At DraftKings

To get things going at DraftKings, you'll need to make an account:

  1. Visit the DraftKings Website: Navigate to the DraftKings Sportsbook website.
  2. Start Registration: Click on ‘Log In’ and then select ‘Sign Up’.
  3. Provide Personal Information: Fill in your full name, home address, date of birth, email address, phone number, and the last four digits of your Social Security Number.
  4. Identity Verification: Complete the identity verification process, which may require uploading a state-issued ID.
  5. Geo-Location Setup: Ensure your geo-location is enabled for betting. Desktop users need to install a GeoLocater plugin.
  6. Two-Factor Authentication: If required in your state, set up two-factor authentication for added security.

Choose Your Bet

DraftKings has one of the biggest selections of betting markets of any U.S. sportsbook so be sure you do some research prior to making a bet:

  1. Log In & Select a Sport: Access your account and choose the sport you want to bet on.
  2. Pick a Bet Type: Select the type of bet you want to place.
  3. Enter Your Bet Amount: Decide on and input your wager amount.
  4. Confirm Your Bet: Review your bet for accuracy and confirm it.

Withdrawing Your Funds

To withdraw funds, navigate to the 'Withdraw' section in your account. Select a withdrawal method, enter the amount, and confirm. The processing times and limits vary depending on the chosen method, ranging from instant transfers to several business days.

How to Bet at DraftKings FAQs

Signing Up and Account Management
How do I sign up for DraftKings Sportsbook?
What documents do I need for identity verification?
How do I update my personal details on DraftKings?
Can I set betting limits on my account?
Types of Bets
What are the different types of bets I can place at DraftKings?
What is a Parlay bet?
Can I place bets during a game?
Betting Guidelines
What should I know before placing my first bet?
Are there any restrictions on betting based on location?
Financial Transactions
How do I deposit funds into my DraftKings account?
What are the options for withdrawing funds and their processing times?
Customer Support
How can I get assistance if I have issues or questions?

Meet Our Authors

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol's interest in sports was sparked at a young age, inspired by athletes such as Barry Sanders, Michael Jordan, and Wayne Gretzky. This early fascination evolved into a deep-seated passion, guiding him toward a career in sports journalism in 2007. Over the years, Sol has contributed numerous articles and reviews to various online platforms, sharing his knowledge and perspectives.

Central to Sol's approach is his dedication to honesty, especially regarding sports betting platforms. He believes in providing bettors with straightforward and detailed reviews, distinguishing his work by avoiding the often overly positive spin on bonus offers and promotions. His commitment to truthfulness has made his reviews a reliable source for those seeking authentic advice and information, thereby earning him a reputation for integrity among his readers.

“In the world of sports betting, truth is more valuable than any bonus offer.”

ExperienceYear
Content Manager, OnlineCasinoReports2012-2021
Sports Journalist, Dottraffic2009-2011
Content Writer, HouseTech2007-2009
Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

Principles and Ethics

Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

Strategic Vision

Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

Mike Rosenberg
Mike Rosenberg
Content Writer

Mike made the decision to dive headfirst into the booming world of sports betting fresh out of college. Back in the day, when 1-800 pick lines and sports pagers were all the rage, he couldn't resist the allure, having grown up idolizing sports legends like Sweetness, MJ, and Slammin Sammy. Mike dedicated his early years to the industry, tirelessly analyzing games, writing articles with free picks, and selling his expertise on reputable handicapping sites. Unlike many others, Mike was known for his integrity and only released one Game of the Year per sport, per season. His hard work and unwavering commitment paid off, earning him a devoted following and propelling his career to new heights. Then came the explosion of Daily Fantasy Sports. Believe it or not, companies like DraftKings and FanDuel used to pay Mike's company to increase their brand exposure. Now, those same industry giants don't even bother responding to his emails. While Mike appreciates the convenience of being able to place legal bets in his own backyard, he can't help but feel disheartened by what has become of the industry. People are being led astray, falsely believing that a mere $5 wager on a 20-team same-game-parlay will be their ticket to financial security. If there’s one thing Mike learned from making book back in the day, it’s that parlays are a bookie’s best friend. A bankroll is the only leg you have to stand on in the battle with the books, and Mike’s here to offer up advice on how to protect it.