I live in Colorado and was looking at maybe opening up an account at DraftKings this football season to check them out. Once I get my withdrawal from 5Dimes I'm probably going to open a Heritage account for my offshore and DraftKings for my legal Colorado place.
Was checking out the DraftKings 'Risk-Free Bet up to $500' promotion and I need to make sure I understand this properly. Here is a link to the terms for this promo https://sportsbook.draftkings.com/promos and I pasted a screenshot of the terms below as well.
I read all the terms for the promotion and need some clarification. The terms don't say if this promotion requires you to bet only on specific odds in order to get the free bet? Does it require -250 or higher (i.e., -200 or -150)? If I open an account and deposit $500 then bet my entire deposit of $500 on a football team that are heavy favorites (let's say a team at -1000 odds to win) then according to the terms, the amount of the free bet I would receive is equal to the amount of my first bet so I would then get a $500 free bet to use on whatever I want.
Would betting on a heavy favorite to get the free bet be an issue? Nothing is mentioned in the terms for this.
Once I've earned the $500 free bet I already understand that once I put the free bet into play, I only collect the win and not the $500 stake as well so betting a huge favorite would be stupid at that point. I'll probably bet a -110 line or better with the $500 free bet. I don't have any question on that part, I just want to make sure I'm able to bet my $500 deposit on a heavy favorite in order to JUST GET the $500 free bet. I'm going to send this question to DraftKings as well but figured someone on here would know for sure.