FanDuel Promo Code: Bet $5 on the Preakness Stakes, Get $150 Bonus Bets If It Wins

The 151st Preakness Stakes is set for a historic Saturday at Laurel Park, and there is no better time to take advantage of one of the best FanDuel promo code offers available to new users. No promo code is required to claim FanDuel's welcome bonus, which means you can be up and betting on this wide-open field of three-year-olds in minutes. As of May 16, 2026, new users can unlock $150 in bonus bets with just a $5 wager, and you can find more sportsbook promos to compare before signing up.

Bet $5, Get $150 If It Wins

Win $150

FanDuel Promo Code Offer for the 151st Preakness Stakes

The FanDuel promo code offer for new users is straightforward: place a $5 real-money wager on any available market, and if that bet wins, FanDuel will credit your account with $150 in bonus bets within 72 hours. No code is required at any point during registration or deposit, making the process as seamless as possible for first-time users. With the Preakness Stakes drawing a competitive 14-horse field highlighted by morning-line favorite Iron Honor at 9-2, local hopeful Taj Mahal at 5-1, and Derby returnee Ocelli, there is no shortage of compelling betting angles to put that initial $5 toward.

Here is what you need to know about the terms and conditions before claiming the offer:

• A minimum deposit of $5 is required to activate the welcome bonus.
• Your initial $5 real-money wager must be placed through the FanDuel Sportsbook mobile app.
• The $150 in bonus bets is awarded only if your first bet wins, not on a loss.
• Bonus bets are valid for seven days after they are issued to your account.
• If you win a wager using bonus bets, the bonus amount itself is not returned as part of your payout. For example, if you place a $100 bonus bet on Iron Honor at +100 odds and win, you receive $100 in withdrawable cash, not $200.

To put the offer in Preakness terms, imagine placing your $5 on Taj Mahal, the unbeaten Laurel Park specialist trained by Brittany Russell. If Taj Mahal holds his form on his home track and wins, your account would be credited with $150 in bonus bets to use across any FanDuel market. A losing bet, however, means the bonus bets are not awarded, so picking your spot wisely matters.

How to Claim Your FanDuel Bonus Before the Preakness Stakes

Signing up and claiming this offer before Saturday's post time, approximately 7 p.m. ET, is quick. Follow these steps to get started:

1. Register: Click through to FanDuel Sportsbook and create a new account. You will need basic personal information such as your date of birth, mailing, and email address. FanDuel operates in 22 states plus Washington, D.C., so confirm your state is eligible during registration.
2. Download the app: The FanDuel Sportsbook mobile app is required to claim your bonus bets. Download it to your iOS or Android device after completing registration.
3. Deposit funds: Make a minimum deposit of $5 into your new account using any of FanDuel's accepted payment methods.
4. Place your bet: Wager at least $5 on any available FanDuel market, including Preakness Stakes futures, race winner, or any other sport. If your bet wins, $150 in bonus bets will be credited to your account within 72 hours of settlement.
5. Use your bonus bets: Apply your bonus bets to any available market within seven days of issuance. Remember, no FanDuel promo code is needed at any step of this process.

For a deeper look at the platform before signing up, check out the full FanDuel Sportsbook review to learn more about its features, markets, and overall user experience.

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