DraftKings Ontario Promo Code & Launch Updates

When Ontario opens its sports betting industry to private companies, DraftKings will probably be one of the first sportsbook companies to enter Ontario. It’s one of the largest sportsbook brands in the United States. So, Ontario will be a natural next step for it. It has one of the best welcome bonuses on the market with consistently competitive odds. DraftKings also gives bettors flexible money-moving options for deposits and withdrawals. With an intuitive app, DraftKings offers bettors a great sportsbook. Here’s how DraftKings compares to other major sportsbooks. 

DraftKings Ontario Promo Code For January 2022

DraftKings offers new bettors a $1,000 deposit bonus with a 20% match rate. Bettors are eligible for $1 in site credits for every $5 they deposit. To redeem those credits, bettors must wager $25 to receive $1 in site credits. Terms and conditions apply. 

DraftKings Ontario Promo CodeComing Soon
Deposit Bonus$50 Free Bet + $1,000 deposit bonus with 20% match rate
What Provinces Allow DraftKingsTBD, Ontario likely first
Promo Code Verified ForJanuary 2022

How To Register For A DraftKings Account 

Registering for a DraftKings account is a simple three-step process. First, bettors set their usernames and passwords up. Then, bettors move on to entering personal information, including their names, addresses, and social security numbers. This allows DraftKings to confirm bettors’ identities and ages. After that, bettors will set their two security questions. Once bettors complete these three steps, they can set their deposit methods up, make their first deposits, and move on to their first wagers.  

DraftKings: Bonus And Promotional Grade (4.5/5)

DraftKings offers new bettors a 20% deposit match up to $1,000. However, there are only a few terms and conditions that bettors must be aware of before they spend too much money on this bonus. The amount that bettors first deposit determines the number of site credits that bettors are eligible to receive. Bettors can get $1 in bonus credits for every $5 they deposit. To actually receive them, bettors must wager $25 to get $1 in site credits. So, bettors must be willing to bet money to earn site credits. 

This is a competitive deposit bonus compared to other sportsbooks’ deposit bonuses. For example, BetRivers offers a $250 deposit bonus. However, its deposit bonus matches bettor deposits dollar for dollar. That’s a common tradeoff among deposit bonuses. Overall, DraftKings has one of the best deposit bonuses on the market. However, the amount of site credits bettors can redeem is dwarfed by the risk-free bets offered by Caesars Sportsbook and Sports Illustrated Sportsbook.   

DraftKings: Odds Vs. The Competition Grade (4.5/5)

DraftKings has competitive odds across the board. However, it has especially competitive odds on favorites. For example, DraftKings has the best odds on this NFL matchup between the Denver Broncos and Dallas Cowboys:

 DEN BroncosDAL Cowboys

DraftKings beats FanDuel’s Cowboys odds by 10 points but offers odds that are 50 points better than BetMGM. However, DraftKings gives up competitive underdog odds to offer better odds on the favorite. Bettors can find DraftKings lines where it has the best underdog odds. However, DraftKings stands out for its odds on favorites. 

As for futures bets, DraftKings has great odds on low and mid-range futures. In this selection of NFL futures, DraftKings has the best or almost the best odds out of the Big Three sportsbooks: 

 DEN BroncosDAL Cowboys

DraftKings has the best odds on the Buccaneers and Cowboys. It has the second-best odds on the Packers and ties with BetMGM for odds on the Cardinals. If bettors are inclined to bet on futures, DraftKings is as solid a choice for futures as it is for game lines. 

DraftKings: Market Depth And Variety Grade (5/5)

DraftKings has one of the largest selections of sports, leagues, and bets on the market. Ontario bettors will find their most popular major league sports, like NHL and CFL games. Ontarians will find many American sports, including NFL, MLB, and NCAA leagues. Bettors will also have access to other popular sports, like tennis, golf, and racing. 

However, what sets DraftKings apart are its lines on sports like Gaelic hurling, snooker, and chess. While bettors may find snooker at other sportsbooks, few sportsbooks offer lines on hurling or chess. 

DraftKings also offers lines on many leagues within each of these sports. For example, DraftKings offers four leagues within its cricket section for bettors to wager on. This wide selection of leagues allows DraftKings to maximize the amount of time it can display live betting lines. They engage bettors and make sportsbooks a lot of money. So, this is an important advantage that DraftKings has over its competitors. 

Few sportsbooks can approach, let alone match, the variety of betting lines that DraftKings presents to bettors. It’s a great sportsbook to look for niche sports lines.       

DraftKings: Deposit And Cashout Grade (5/5)

DraftKings offers one of the largest selections of deposit and withdrawal options on the market. Its deposit methods include: 

  • Online Banking
  • Wire Transfer
  • Credit/Debit Cards
  • VIP Preferred eCheck 
  • PayPal 
  • Electronic Gift Cards
  • DraftKings Gift Cards
  • Play+ Card
  • Cash

Most of these deposit options are convenient online options. However, there’s also a cash deposit through PayNearMe. In the United States, bettors can deposit cash at a participating convenience store and scan a QR code to record the change in their DraftKings balance. Ontario bettors may get a similar option if DraftKings gains market access to Ontario. 

DraftKing’s list of withdrawal methods is smaller, but still competitive compared to the market standard. DraftKing’s withdrawal methods include: 

  • Online Banking 
  • Wire Transfer
  • VIP Preferred eCheck
  • PayPal 
  • Play+ Card
  • Cage 
  • Check 

Seven withdrawal methods are at least double what many of DraftKings’ competitors offer. Whether bettors want their withdrawals in cash or online, DraftKings offers withdrawal options that suit bettors’ needs.  

Overall, few sportsbooks can match the convenience that DraftKings offers its users. Ontario bettors will have an easy time moving money between their personal and DraftKings accounts.     

DraftKings: Mobile App Grade (5/5)

DraftKings has an intuitive mobile app that performs well and remains stable during prime time. When bettors open the DraftKings app, they’ll find a selection of promotions and the most current live betting lines. That allows bettors to plan their wagers around popular promotions. However, bettors who are ready to dive into betting can go straight to the live betting lines for immediate gratification. 

Bettors can also hop around the DraftKings app seamlessly. The A-Z sports list gives bettors a full list of sports that DraftKings offers betting lines on. Within these sports, bettors will find many international leagues, including North American, Central American, South American, European, and Asian sports leagues. Tabs for promotions, help, and the bet slip are available too. 

DraftKings’ app also performs well. There’s no lag from screen to screen or tab to tab. The app also doesn’t crash during major games. So, it can handle many bettors and transactions at once without crashing. That’s an important feature for a sportsbook as large as DraftKings. 

DraftKings sets the bar for mobile sportsbook apps. If Ontario gains access to DraftKings, then they’ll get one of the most polished sportsbook apps available. 

DraftKings: Overall Grade (4.8/5)

DraftKings is one of the best sportsbooks on the market. It has a high welcome bonus that suits high-rollers. Its odds are competitive compared to other large sportsbook brands. It has the most sports to bet on and offers one of the highest numbers of deposit and withdrawal methods. Finally, its app is pristine, smooth, and one of the best on the market. If DraftKings comes to Ontario, then Ontario bettors will gain access to one of the best sportsbooks they can get their hands on. 

Is DraftKings Legit? 

Yes. DraftKings is one of the most trustworthy apps on the private sportsbook market. Here are five reasons bettors can trust DraftKings. 

DraftKings’ Daily Fantasy Sports Beginnings 

DraftKings began as an alternative to FanDuel’s fantasy sports product. When the United States began legalizing sports betting, DraftKings added a sportsbook to its product portfolio. It has many years of history for bettors to go through. Concerned bettors can see from DraftKings’ history that it operates within the bounds of the law in a way that unlicensed sportsbooks aren’t obligated to. 

DraftKings’ United States Success

DraftKings Sportsbook has entered over a dozen markets in the United States. To gain access to each state’s market, DraftKings must submit its hardware, software, financial statements, and background checks for its executive team. DraftKings has passed stringent scrutiny in many cautious markets, so Ontario bettors should feel comfortable betting at DraftKings when it comes to Ontario.   

Ontario’s Sportsbook Standards

The Alcohol and Gaming Commission of Ontario (AGCO) released its Standards for Internet Gaming in September 2021. It ensures that any online sportsbook that operates in Ontario treats its bettors fairly. So, if DraftKings gains access to Ontario, it’ll be under the watchful eye of the AGCO. There will be a safety net of oversight that Ontario bettors will benefit from.    

DraftKings’ SEC Filing 

DraftKings’ filings with the SEC not only get it listed on the New York Stock Exchange. Its SEC filings also provide a level of transparency that should reassure bettors that DraftKings is legit. A close look at DraftKings’ financials shows that its sources of revenue are legitimate. With the added oversight that comes from being regulated by the SEC, DraftKings is subject to additional regulations that increase its transparency.   

DraftKings’ Corporate Address 

Bettors who really want to know whether DraftKings is a real and legitimate company can find its corporate office. A physical corporate address means, among other things, that disgruntled bettors can serve lawsuits to DraftKings. It’s not the sole purpose of a corporate address. But it shows that DraftKings is willing to operate publicly in full view of regulatory agencies, the betting public, and policymakers.   

Why Choose DraftKings Over Unlicensed Betting Sites?

Canada doesn’t outlaw offshore gambling. Bettors can bet at offshore sportsbooks without being arrested or prosecuted. Unlicensed sportsbooks sometimes offer better odds than licensed sportsbooks. So, bettors may think that offshore betting sites are just as good or even better than licensed sportsbooks. 

However, licensed sportsbooks have safety nets for bettors that are absent at unlicensed sportsbooks. Licensed sportsbooks face consequences if they fail to pay winnings. So, licensed sportsbooks face incentives to satisfy customers and avoid inquiries from the AGCO. Ontario bettors should expect more secure transactions and more reliable payouts at licensed sportsbooks than their unlicensed counterparts. 

Unlicensed sportsbooks also don’t have any organizations overseeing them to make sure they don’t run out of cash. On paper, a sportsbook can look profitable by earning more revenue than it spends. However, it could need to pay more winnings at once before the money it’s owed comes in from unsettled bets. So, sportsbooks can run out of cash to pay winnings. It’s a nightmare scenario that often spells doom for any company. If it happens to a sportsbook, then bettors can end up making large bets and not getting the winnings that they’re owed. 

Ontario sportsbooks don’t face that issue. First, private sportsbooks are required to keep a cash reserve to avoid that nightmare scenario. It’s often a formula based on a sportsbook’s revenue and outstanding liability. That’s why there’s little danger of DraftKings failing to pay bettors their winnings. With these controls in place, bettors should feel more secure betting at DraftKings than an unlicensed sportsbook. It’s not about legality for Ontario bettors. It’s about the safety net that AGCO approval will provide bettors.      

Why Can You Trust DraftKings With Your Money?

DraftKings is a secure sportsbook for bettors who are allowed to use it. It employs security measures that protect bettor data and guard against data breaches. First, DraftKings uses encryption protocols like SSD to keep hackers out of their site and app. However, DraftKings also employs end-to-end encryption, which encrypts information from the moment it’s typed into DraftKings. So, DraftKings is difficult to hack, which is great for bettors who don’t want their bank accounts siphoned or identities stolen. 

However, DraftKings is also insured against hacks should the worst occur. So, if hackers steal bettors’ funds from their sportsbook accounts, then DraftKings can refill customer accounts. It’s another layer of protection that bettors benefit from when they wager at a licensed sportsbook like DraftKings is expected to become. If Ontario bettors get access to DraftKings, they should feel comfortable trusting their money with a sportsbook of DraftKings’ prestige.     

DraftKings Fact Sheet

 TB BuccaneersGB PackersDAL CowboysARI Cardinals

DraftKings Sportsbook FAQs

Is Betting At DraftKings Legal In Ontario? 

No. Proline+ is the only legal online sportsbook in Ontario. However, Ontario is preparing to open its online sports betting industry to private sportsbooks. So, DraftKings and other major online sportsbook brands could enter Ontario’s market within months. It’ll break the monopoly that Proline+ enjoys in Ontario’s sports betting market.

Will DraftKings Offer Live Betting To Ontario Bettors? 

Yes. Live betting is integral to any sportsbook, and DraftKings is no exception. DraftKings’ home page includes live betting lines so that bettors can place sports wagers that require little time before being settled. It’s a great way to engage bettors quickly, and it’s a great way to make a call on a game without having to wait days or weeks to see how it turned out.  

What Will The Best Way For Ontario Bettors To Depoist At DraftKings Be?  

Bank transfer or PayPal. Bank transfers are direct and straightforward. However, some banks still block transactions to gambling companies. So, PayPal is a good backup option for bettors who run into problems with bank transfers. However, bettors who have a choice will find bank transfers more convenient than creating a new middleman account. 

How Large Is DraftKings’ Sports Selection? 

DraftKings’ sports selection is one of the largest on the market. It includes over two dozen sports that include the most popular sports, like football and hockey. However, bettors will find other popular sports, like tennis and golf, that are popular but don’t command the following that hockey and football do. Finally, bettors will find lines on sports like chess that have little mainstream following similar to football or hockey. 

What Is DraftKings’ Deposit Bonus?

DraftKings offers a $1,000 deposit bonus with a 20% match rate. So, bettors must deposit $5 to be eligible for $1 in site credits. However, bettors must wager $25 to receive $1 in site credits in their accounts. This ensures that bettors wager the money they deposit into their accounts. DraftKings isn’t going to give bettors free money unless it’s sure that it can get at least some of that money back. 

Will DraftKings Bring eSports Betting To Ontario?   

Yes. DraftKings includes esports lines in its market-leading selection of sports and leagues. However, esports lines are available seasonally. So, esports bettors probably won’t see esports lines in DraftKings until major esports leagues begin. Major esports leagues include competitions in Counter-Strike: Global Offensive and Call of Duty. However, esports is a fast-growing sports segment. So, DraftKings will likely offer more esports leagues over time. 

About the Author

Christopher Gerlacher

Christopher Gerlacher is a senior author and contributor for many different sports betting websites, sharing his expertise on the subject for readers across the continent. He's a devout Broncos fan, for better or for worse, living in the foothills of Arvada, Colorado.