March Madness Sportsbook Promo: Bet $5, Win $200 At DraftKings Sportsbook

Written By Brett Collson on March 17, 2022

March is finally here, and you know what that means: It’s time for all basketball all the time. Even the most casual fan becomes a fanatic during March Madness.

Right now, Gonzaga is the favorite to win the National Championship, but you can always count on the Big Dance for some surprise upsets along the way. If you’re thinking of trying your hand at online sports betting, now is the time.

There are some DraftKings March Madness promos that you shouldn’t sleep on. Read on for more about those as well as some basic betting types to give you enough knowledge and confidence to place your first wager.

Bet $5, Win $200 at DraftKings if the March Madness team you bet on wins! New bettors only

DraftKings March Madness Promo Code

Claim Your $1,050 Bonus at DraftKings Sportsbook

How to Get the DraftKings App

Click on the links in this article to claim your bonus and get directed to the sportsbook. Once you get the app and create an account, you can make your first deposit and take advantage of the promo code above.

Here is how to create your DraftKings account:

  • When you visit the website for the first time, you’ll see a “Sign Up Free” button on the home page. Click it to get started.
  • You’ll need to create a username and password and provide some additional information, such as your email address and birthday. You can also choose to sign up with Facebook. This streamlines the process for you but does link your DraftKings account to your Facebook account.
  • Once your account is set up, you can make your first deposit.

March Madness Bracket & Odds

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How to Bet on March Madness

Now that you’ve made your deposit, it’s time to place your first March Madness bet. There are different options for placing bets, depending on how much you want to spend and your feelings about the games.

Moneyline: This is one of the most straightforward bets you can make. A moneyline bet is simply a bet on which team you think is going to win.

For example, in a Duke vs. UNC matchup, you could pick Duke as the winner, and if they win, so do you.

Spread: The point spread is the oddsmaker’s and betting market’s guess on the numerical separation between two teams. The bigger the number, the better the favorite.

Spreads are presented as positive or negative numbers. The positive number is the underdog, and the negative number is the favorite to win. For example, in the 2022 Super Bowl, the Rams were -4, which meant that they were the 4-point favorite to win.

Total (Over/Under): This is another simple bet that doesn’t require specific knowledge about a team. Instead, you are simply guessing the total number of points scored by both teams.

For example, the Valparaiso vs. Missouri State game total is 146.5 points. If you bet the over, you are betting that the point total from both teams will be more than 146.5. Betting the under means you think that the total will be less than 146.5.

Parlay: A parlay is a bet where you combine multiple wagers in one bet. In order to win anything, however, both bets must win. You could place a parlay bet on five different teams to win their March Madness games, like this bettor, who parlayed 10 games to win $33,000 last year.

Same-Game Parlay: A same-game parlay is just that—a parlay that places multiple bets from the same game. For example, you could bet $100 on Gonzaga to win the National Championship and bet the over. If both of those things happen, you win much more than if you placed two separate bets instead of a parlay.

Future: Futures bets are wagers placed on games happening in the future (further into the future than the same day the wager is placed). For example, you could place a future bet on the Rams to win next year’s Super Bowl.

Take Advantage of These DraftKings March Madness Promos

Get a $1,000 No Sweat First Bet at FanDuel Sportsbook
No Sweat First Bet
Up to $1,000 in Free Bets if You Lose Your First Bet
Available on Desktop, Android & iOS  
To Claim: Click Play Now

March Madness is an excellent time to dip your toe into online betting. There’s lots of action to bet on, and placing a few wagers will keep things interesting. Start small with a game or two, and once you get comfortable, you can try out parlays or future bets.

Don’t miss the DraftKings March Madness promos, either. Make sure you sign up for it before you make your first wager.

Brett Collson Avatar
Written by
Brett Collson

Brett Collson is the Sports Content Director at Catena Media North America, overseeing websites like and With more than 10 years of experience in the gambling industry, Brett has covered poker, sports betting, and daily fantasy sports extensively. He also spent several years reporting on Major League Baseball and college basketball in Philadelphia. He now resides in Buffalo, NY.

View all posts by Brett Collson