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The NBA Playoffs are here, and those looking to place wagers on games or series at large can do so with the latest DraftKings promo code, which nets new users $200 in bonus bets after an initial wager of $5. 

Here's how to claim the latest DraftKings offer and how it compares to other sportsbook promotions. We'll also take a look at the first round of the NBA Playoffs. 

How to claim DraftKings' promo code

It's important to note the DraftKings promo code is only available to new users. That means if you're a former user or signed up for the sportsbook in one state and now reside in another, you aren't eligible for this offer. It's only available to new users who are of legal age and reside in a state where DraftKings operates.

To claim this offer, join DraftKings by entering all required information, such as legal name, date of birth, address and your email. After that, you need to deposit at least $5 and then wager at least $5. Your account will then be credited $200 in bonus bets in the form of eight $25 bonus bet tokens. You receive the $200 in bonus bets regardless of whether your first bet wins or loses. The bonus bets will be issued within 72 hours of your first wager being settled, and they expire seven days after you receive them. Additionally, if you win a wager with bonus bets, you only receive your winnings back and not the stake.

DraftKings promo comparison

DraftKings is one of many top sportsbooks offering promotions for new users ahead of the NBA Playoffs. Here's what they're all offering and how they compare to one another. 

Brand Promo CBS promo code
DraftKingsBet $5, get $200 in bonus bets instantly None required
BetMGMUp to $1,500 in bonus bets if your first bet losesCBSSPORTS
CaesarsBet $1, double your winnings on your next 10 betsCBSDYW
FanaticsBet and get up to $1,000 in No Sweat BetsNone required
FanDuelBet $5, get $250 in bonus bets if your bet wins  None required
bet365Bet $5, get $150 in bonus bets win or loseCBSBET365

DraftKings is one of three sportsbooks listed above to run a "bet and get" promotion, along with FanDuel and bet365. All three sportsbooks require a $5 first bet to receive bonus bets, but the three differ from there. FanDuel offers the most return at $250 in bonus bets, but your first bet must win. It is worth noting that there is no minimum odds requirement. DraftKings' $200 is more than bet365's $150, but DraftKings' bonus bets are in $25 increments while at bet365, you can wager the bonus bets how you see fit. 

Caesars has a different promotion revolving around profit boosts. If you place a first bet of at least $1, you receive 100% profit boosts for your next 10 bets. The maximum wager for each of those 10 bets is $25, while the maximum additional winnings for each token is $2,500.

Fanatics and BetMGM are offering bet insurance for new users. At BetMGM, if your first bet loses, you receive your stake back in the form of bonus bets up to $1,500. At Fanatics, the sportsbook covers your first bet of the day for 10 days up to $100. That means if you bet $100 as your first wager for 10 days straight and all those bets lose, you'd receive $1,000 in bonus bets.

Betting on the NBA Playoffs

The Cleveland Cavaliers and Oklahoma City Thunder are the top seeds in their conferences, and they play the Miami Heat and Memphis Grizzlies, respectively, after those two teams secured the No. 8 seeds via the Play-In Tournament. The reigning champs, the Boston Celtics, face the Orlando Magic, in a 2-7 matchup in the East.

The Cavaliers are resounding -2000 money-line favorites in their series against the Heat, who are priced at +1000, according to DraftKings odds. The Celtics are -5000 money-line favorites to bounce the Magic, who are +1600 underdogs. The New York Knicks are -650 favorites in their series with the Detroit Pistons, who are +450 following a Game 1 loss. The Indiana Pacers are now -240 to advance past the +195 Milwaukee Bucks. 

The Thunder opened as -1800 favorites over the Grizzlies, who are +900 underdogs. The Golden State Warriors may be the No. 7 seed in the West, but they're the -180 favorites over the No. 2 Houston Rockets, who are +150.  The Los Angeles Lakers, who dropped the first game of their first-round series, are +125 to advance past the -150 Minnesota Timberwolves, and the 4-5 series between the Los Angeles Clippers and Denver Nuggets has shifted Denver's way after a Game 1 win. 

Responsible Gaming with DraftKings

Bettors need to know their limits and game responsibly. Bettors should be aware that there are plenty of tools and resources available to them should they need help, including at DraftKings, which offers time and wager limits and voluntary timeouts for its users. 

There are also nationwide resources available such as The National Council on Problem Gaming, Gamblers Anonymous and calling 1-800-GAMBLER.