What Are DK Dollars and How Can You Use Them?
One of the many reasons behind the success of DraftKings is the variety of generous bonuses and promotions on offer. DraftKings Dollars are just one of the ways in which regular players are rewarded. But, do you understand how they work?
If you’re new to the site and find yourself wondering “what are DK Dollars?”, you’re certainly not alone. We often see people asking questions about this unique system, which is why we created our handy guide.
In this article, we’ll reveal everything you need to know. So, if you’re not sure how to use DK Dollars, or where you can find your balance, keep reading. In addition, we’ll explain the other in-house DraftKings currencies too, including tier credits and crowns.
What are DraftKings Dollars?
First things first, what are DK Dollars? In short, they’re a form of bonus currency that sits somewhere between real money and a free bet or casino credit. You’ll usually acquire them as part of a promotion, but DK Dollars are very different from other in-house currencies.
If you have a free bet token, for instance, you’ll only be able to use this at the DraftKings Sportsbook. Similarly, you couldn’t use a casino credit to play fantasy sports or wager on an NBA game. But DK Dollars can be spent anywhere within the DraftKings ecosystem, and that versatility is why they’re so appealing.
Another important point to note is that other DraftKings bonuses carry playthrough requirements. For example, if you use a casino credit, you’ll almost always have to wager the winnings at least ten times before withdrawing. In addition, some of the bonuses don’t return the stake. Instead, you’ll only keep the profits.
However, DK Dollars aren’t like that. For the most part, they act like real money. Use them to place a bet and, should you win, you’ll receive the full amount as cash. If you want to, this can be withdrawn immediately. Of course, you cannot cash your DK Dollars out, which is the key difference between this promotional currency and real money.
Where Do I Find My DraftKings Dollars?
Having learned how to use DK Dollars, you’ll probably want to know if you have any in your account. Luckily, you don’t have to work too hard to find them. Here’s what to do.
- Make sure you’re logged into the relevant DraftKings account.
- Find your profile in the top-right corner of your desktop screen, or top-left on the app.
- Use this to access your account information and look for “Playable Balance”.
- If you have DK Dollars, they’ll be listed under “Bonuses”.
In the image below you can see how you can access your DK Dollars.
How Do You Use DraftKings Dollars?
Okay, now that you understand what they are, let’s learn more about how to use DK Dollars. As we explained, they’re a form of bonus that can be spent anywhere on the site. In practice, that means you can use them to enter fantasy contests, as well as betting on sports and playing casino games. But you can also spend them in the DraftKings Marketplace.
If there are DK Dollars available in your account, they will be automatically taken from your balance ahead of any real money. This applies whether you’re placing bets, playing games or making a Marketplace purchase.
Withdrawing DK Dollars
We’re often asked whether or not you can withdraw your DK Dollars. You cannot. In addition, they are not redeemable for cash and may not be transferred or exchanged for anything else.
What Happens if I Use DK Dollars and Win?
When using your DK Dollars to gamble, they carry a simple 1x playthrough requirement. Once spent, the funds are not returned to your bonus balance. If you bet with DK Dollars and win, you’ll receive both the profits and the stake itself as actual cash. That’s right – all returns enter your real money balance.
To reiterate, if you play with DK Dollars and win, the prizes are cash and they’re all yours to keep. That applies to fantasy contests, as well as casino games and sportsbook wagers. You’ll be able to withdraw these returns immediately, since they’re real money.
To really make sure you understand, let’s quickly run through some practical examples.
- Daily Fantasy Sports. If you enter a $5 contest using DK Dollars and win a $10 prize, all $10 will be credited to your cash balance. It’s just like if you’d paid the $5 entry fee with real money.
- Casino Games. Playing a regular hand of blackjack with $10 worth of DK Dollars returns $20 of real money when you win. Should you make blackjack, that would be $25, since this pays 3 to 2. Your stake is returned as cash, along with the profits.
- Sports Betting. If you place a winning $5 bet at odds of +100 using DK Dollars, you’ll receive $10 in real money returns. Again, both stake and profits are included.
Different DraftKings In-House Currencies
So, you fully understand what DK Dollars are and how they work. But what about the other DraftKings bonus funds? How do they compare? Let’s find out!
Casino Credits
One of the most frequently offered bonuses by DraftKings, you can usually obtain these simply by playing casino games. “Bet and Get” promotions are pretty common. For example, you may be required to spend $25 on a specific game in order to obtain a $10 casino credit.
These carry a 1x playthrough requirement, but unlike DK Dollars, you can only spend them at the DraftKings Casino. Naturally, they cannot be withdrawn or exchanged for any other form of bonus or real money.
Casino Bonus Funds
These are not the same as casino credits, as they carry a much larger playthrough requirement. They are promotional funds, usually obtained as part of a new player welcome offer. This is often a percentage match bonus, such as 20% of your first real money deposit.
You will not be able to withdraw real money until you have fully cleared your casino bonus funds. If you do, the bonus balance will be declared void. In addition, different games contribute different amounts towards the wagering requirement.
For instance, blackjack only contributes 20%. This means that $100 worth of real money play is only equivalent to $20 for wagering proposes. Slots almost always contribute 100%, but games like video poker and craps contribute nothing at all.
Finally, casino bonus funds cannot be used to enter fantasy games or bet on sports.
Sportsbook Bonus Bets
Many bonuses are only for use in the DraftKings Sportsbook, such as Profit Boosts or Bonus Bets. They are usually earned in “Bet and Get” promotions, where you must first opt-in, before placing a qualifying real money wager.
Bonus Bets are sometimes referred to as Free Bets, but they’re essentially the same thing. You’ll use this token in place of real money to make a sports bet. However, the stake will not be returned if you win. Only the profits enter your real money balance.
Profit Boosts, meanwhile, increase the overall return on a winning bet by a fixed percentage. Of course, these promotions can only be used in the DraftKings Sportsbook. You cannot boost the profit of a roulette bet, for example.
Crowns
As part of the DraftKings Dynasty Rewards program, you’ll earn Crowns whenever you play casino or fantasy games, or place real money sports bets. You can sometimes collect extra crowns by taking part in various promotional activities.
Crowns can be redeemed in the Dynasty Store, or exchanged for other bonuses, like DraftKings Dollars and casino credits. The DK Dollars exchange rate is 550 Crowns for $1.
Tier Credits
These are also a form of loyalty points, similar to air miles and other rewards programs. You’ll accrue them by spending real money at DraftKings and, the more you earn, the higher your status will increase. However, at the end of each year, your tier credits reset.
All new players start in the Bronze tier, but it’s possible to climb through Silver, Gold, and Diamond levels, before eventually reaching Onyx. There are various perks gained as you reach each tier, including weekly prizes, priority customer support and invitations to VIP events. Click the Dynasty tab to monitor your progress.
Use Your DK Dollars Today
Hopefully, we’ve answered all of your questions about where to find and how to use DK Dollars. If we have, there’s only really one thing left to do – go and spend them!
If you don’t yet have any, don’t worry. All you have to do to earn up to $1,000 in DK Dollars is open a new DraftKings account. Navigate to the website, hit the “Sign Up” button and register your details.
There’s no special promo code required, simply make your first real money deposit and your DK Dollars will be credited automatically. Enjoy!
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