DraftKings Promo Code: Get $100 Bonus on the Preakness Stakes With a $5 Bet

The 151st Preakness Stakes is set for Saturday, May 17, and it is shaping up to be one of the most unpredictable editions of the race in years. No DraftKings promo code is needed to unlock a compelling welcome offer ahead of the big race, and new users can take advantage of sportsbook promos to get in on the action. As of May 16, new DraftKings customers can bet $5 and receive $100 in bonus bets instantly, making this a great time to explore the best sportsbook promos available heading into race day.

Bet $5, Get $100 Instantly

Claimn $100

DraftKings Promo Code Offer: Bet $5, Get $100 for the Preakness Stakes

The DraftKings promo code offer requires no code at all — it applies automatically when you meet the qualifying requirements. New users simply need to make a minimum $5 deposit and place a qualifying wager of at least $5 at odds of -500 or longer on any sports betting market, including the Preakness Stakes. Whether you back morning-line favorite Iron Honor at 9-2 or take a shot on local hopeful Taj Mahal, your qualifying bet gets the bonus rolling.

Win or lose your first wager, DraftKings will award you four $25 bonus bets totaling $100. For example, if you place $5 on Iron Honor to win and he crosses the wire first, you collect your winnings plus receive $100 in bonus bets. If Iron Honor falls short and your bet loses, you still receive the same $100 in bonus bets to use across the platform. Your bonus bets will arrive within 72 hours of your qualifying wager settling.

Here are the key terms and conditions to keep in mind:

• Minimum $5 deposit and $5 qualifying wager required
• Qualifying bet must be placed at odds of -500 or longer
• Four $25 bonus bets ($100 total) issued win or lose
• Bonus bets arrive within 72 hours of wager settling
• Bonus bets expire seven days from issuance
• Stake is not included in any winnings from bonus bets
• Offer expires May 31, 2026, at 11:59 p.m. ET

Must be physically located in AR, AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (select parishes), MA, MD, ME, MI, MO, NC, NJ, NY, OH, PA, TN, VA, VT, WY or WV (each an “Eligible Jurisdiction” or, collectively, the “Eligible Jurisdictions”). Must be 21+ years of age or older (18+ if in DC/KY/WY).

How to Claim Your Bonus Bets for the 151st Preakness Stakes

Claiming this offer ahead of Saturday's Preakness Stakes at Laurel Park is straightforward. No DraftKings promo code is required, and the bonus applies automatically once you complete the steps below.

1. Register: Visit DraftKings and create a new account by entering your full name, address, phone number, date of birth, and other required personal information. You must confirm your identity to complete registration. Note that users on any self-exclusion lists for gambling are not eligible to participate.
2. Deposit Funds: Once your account is verified, select a deposit method and add at least $5 to your new sportsbook account.
3. Place Your Bet: Wager at least $5 on any sports market at odds of -500 or longer. Consider placing your qualifying bet on the Preakness Stakes, where contenders like Taj Mahal, Chip Honcho, and Incredibolt all offer compelling options at 5-1 odds.
4. Receive Your Bonus Bets: Win or lose, four $25 bonus bets totaling $100 will be credited to your account within 72 hours of your wager settling. Use them within seven days before they expire.

For a deeper look at what DraftKings has to offer beyond this welcome promotion, check out the full DraftKings Sportsbook review.

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