$5 Minimum Deposit Sportsbooks

Written by:
Oliver Dickinson
Fact checked by:
Paul Ricci
Updated:
February 27, 2024

$5 Minimum Deposit Sportsbooks

You may not be able to get a Cinnamon Dolce Latte (Grande) from Starbucks for $5, but you can sign up at several of the best US-licensed sportsbooks with only a fin, and this article will show you what the best $5 minimum deposit sportsbooks are.

The number of $5 minimum deposit sportsbooks is increasing as more operators join the legalized sports betting boom and with good reason. They provide the perfect platform for bettors on a tight budget or players who simply want to put a few bucks on the games every now and then.

In addition to providing a list of the top-rated $5 minimum deposit online sportsbooks, this guide highlights why these sites tick all the right boxes. You can browse the brands below to see what each sportsbook app offers and compare them.

Sportsbooks with $5 Minimum Deposits

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A $5 minimum deposit allows you to dip your toes in the water without risking too much cash. You can place a few wagers and get a feel for your chosen platform. Moreover, our sportsbook bonus codes are still valid with some brands, enhancing the value proposition.

DraftKings Sportsbook

DraftKings needs little introduction these days. Having established its brand through daily fantasy sports, DK has aggressively expanded into online casino gaming and sports betting. The DraftKings sportsbook is legally available online and through its mobile app in 20 states (OR, AZ, WY, KS, CO, LA, IA, IL, MI, IN, TN, OH, WV, VA, MD, PA, NJ, NY, CT, and NH).

New customers making their first deposit can claim a 20% match bonus up to $1,000. This means with a $5 deposit, you get 1 DK Dollar as a bonus. Moreover, DraftKings has an excellent selection of regular promotions, such as boosted odds and parlay bonuses, that increase the value of your payouts.

The online sportsbook accepts bets on 20 sports, including professional and college football and basketball. There’s also MLB, NHL, soccer, MMA, and tennis, as well as niche sports like cornhole, so bettors always have something exciting to wager on.

DraftKings Sportsbook Offer

FanDuel Sportsbook

FanDuel is another popular $5 minimum deposit sportsbook that accepts players from AZ, WY, KS, CO, LA, IA, IL, MI, IN, TN, OH, WV, VA, MD, PA, NJ, NY, and CT. Like DraftKings, bettors can enjoy a wide variety of bonuses and promotions, ranging from first deposit offers and free-to-play contests to profit boosts, bonus bets, and refer-a-friend bonuses.

It also has an extensive sportsbook covering NFL, NBA, MLB, NHL, UFC and many other top sports from around the world. An area in which FanDuel forges ahead of DraftKings is that it has a top-quality racebook. This makes it the ideal site for customers who want to combine sports betting and horse racing.

PointsBet Sportsbook

Not many overseas betting companies thrive in the US, but PointsBet is a clear exception. This highly-rated operator is available in 14 states: CO, IL, IN, IA, KS, LA, MD, MI, NJ, NY, OH, PA, WV, and VA.

In addition to offering minimum deposits of $5, bettors earn reward points on every real-money wager, and there’s an exclusive VIP club. What sets PointsBet apart is that it has a traditional sportsbook while also providing a points betting platform, which is a type of spread betting with potentially higher payouts.

Reasons to Choose These $5 Minimum Deposit Sportsbooks

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Up To $1,000 Deposit Bonus
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10 x $100 Second Chance Bets
  • Same Game Parlays
  • Pointsbetting
  • Daily Promos
21+. T&C Apply

As mentioned, more and more online gambling sites are embracing the $5 minimum deposit model because it brings in extra customers. On the one hand, this is great news for bettors because there are more options. However, it can be overwhelming knowing which one to pick. These are some compelling reasons why we recommend the betting sites on our list.

Licensed and Regulated

It doesn’t matter if you’re depositing $5 or $5,000; you want to know that everything is legit. The low deposit online gambling sites we’ve chosen are licensed and regulated in multiple states. They allow bettors to sign up from anywhere in the US, but you must be physically present in a licensed state to place a wager and manage the bet (i.e., use cash-out).

As licensed operators, each platform must adhere to the most stringent security standards, and you can be assured of hassle-free payouts after you land a few winners. It’s simply not worth the risk of betting with unlicensed operators when the legal options are better.

Betting Markets

DraftKings, FanDuel, and PointsBet, offer thousands of betting markets covering hundreds of events from more than 15 sports. Bettors can place futures, pre-match, and live in-game wagers, which adds to the excitement.

Moreover, each sports betting app on our list provides a selection of bet types. This is essential for $5 depositors because parlays and teasers are popular due to the potentially massive payouts from minimal stakes.

Another stand-out feature is that the sportsbooks have unique qualities. For instance, FanDuel has integrated its acclaimed racebook into the platform of the betting site. Also, at DraftKings sportsbook, you can wager on the US Cornhole League, and PointsBet offers its high-risk, high-reward point betting markets. There, you can also find exclusive NBA promo codes and sportsbook bonuses for NFL betting.

FanDuel Sportsbook Homepage

Offers

Although a few deposit bonus offers are off-limits with only a $5 deposit, players can still enjoy a selection of promotions from these online betting sites. Between the options, you’ll find deposit match bonuses, parlay boosts, bonus bets, enhanced odds, and $1,000 risk-free bets.

Ultimately, high-quality offers, such as a welcome bonus, add more value to your betting experience. As a bettor, you still need to check wagering requirements and whether you need a sportsbook promo code. Therefore, please read our reviews before jumping in.

Banking Methods

Low deposit betting sites accept a wide variety of banking methods, including PayPal, Play+ prepaid cards, Visa, Mastercard, Discover, Visa gift cards, Pay Near Me, Venmo, cash deposits, and ACH. Each payment method has its own limits, so not all of them are available for $5 deposits. An extreme example is a bank wire transfer to FanDuel, which has a minimum deposit limit of $2,000.

Therefore, you need to research the low deposit sportsbook’s banking options or contact live support and ask which ones can be used.

$5 Minimum Deposit Sportsbook Perks

$5 deposits are not even the lowest, as some sportsbooks let you fund your account with only a few dollars. These are the perks of starting small with a low minimum deposit so you can decide if it’s right for you.

Perfect for New Bettors

If you’re new to online betting, you want to avoid jumping in too deep straight off the bat. This is why it’s good to test the waters with low minimum deposit sports betting sites. It’s easy to increase your stakes later after a few winning bets. To help out, we’ve also created this guide on the best betting apps for beginners.

Test your Knowledge

A good way to approach $5 deposit betting is as a challenge. For instance, you can set a target of building your balance up to $50 and then $100. The sportsbook holds the edge through its margin (vig), so the odds are against you. However, it is possible to become a winning sports bettor through research and careful bet selection.

Improves your Betting Strategy

When floating around the minimum bet amount, it’s vital to consider your betting strategy. Placing wagers with high odds lessens your chances of winning. However, if the odds are too low, does the bet hold more risk than reward? Added to this, you must consider the bet type – are parlays better than singles, for example?

Bankroll Management

You don’t want to go all-in on a single wager, so bankroll management is something else you’ll learn from playing at these low deposit bookmakers. Typically, the minimum bet amount is $0.50 or less, so even five bucks gives you several shots at the target.

Low-risk

Keeping the risk level low and the potential rewards high is a common mantra in betting. Ultimately, low-risk wagering gives you a chance to learn ropes and hone your skills. You can adjust your risk tolerance as you gain experience and adapt your betting limits for individual wagers based on your predictions and probabilities.

Casual Bettors

Many bettors like to add a little skin to the game when their favorite team is playing. Therefore, it’s not necessary to have an account with hundreds of dollars in it. Both $5 and $10 minimum deposit sportsbooks are right for casual bettors. Simply make a quick deposit on match day and place your bets. It’s quick and easy and adds an extra layer of excitement to the game.

Casino Games

Most sportsbooks are combined with online casinos, meaning you can also play jackpot slots, video slots, and a variety of table games and video poker with your deposit. Moreover, some operators, such as FanDuel, have cross-product promotions. For example, if you play selected FanDuel slots, you can receive free bonus bets.

DraftKings Casino Homepage

Betting Bonuses at $5 Minimum Deposit Sportsbooks

4596 ratings
Review
Up To $1,000 Deposit Bonus
  • Promo Code: NO CODE REQUIRED
  • Android & iPhone Mobile Apps
  • In game betting
4457 ratings
Review
No Sweat First Bet Up To $1,000
  • Promo Code: NO CODE REQUIRED
  • Fast & Secure payouts
  • Multiple bet types
21+. T&C Apply
3961 ratings
Review
10 x $100 Second Chance Bets
  • Same Game Parlays
  • Pointsbetting
  • Daily Promos
21+. T&C Apply

Claiming a sportsbook bonus is straightforward; however, there are differences depending on the offer you want. To grab a registration offer, follow these steps:

  1. Use the links on this page for direct access to your favored lowest minimum deposit sportsbook.
  2. Create an account by completing the registration form. Also, you can usually redeem any promo code that you have when signing up.
  3. Next, you need to make a deposit. After that, the bonus funds (if a deposit match) are credited to your account. If it’s a different offer, such as free bonus bets, you need to place a qualifying wager first.

Other betting bonuses can be found under the Promotions tab when you log into your account.

The terms and conditions are unique for each offer, so it’s recommended that you read these in advance. Some of the things to be aware of are:

  • Wagering Requirements: This is how many times you have to bet the bonus funds before being eligible for withdrawal.
  • Minimum Deposit: All deposit bonuses stipulate a minimum deposit amount that’s required to activate the offer. This can be $5, or it might be slightly more.
  • Qualifying Bets: To claim free money at betting apps, customers usually have to place a qualifying bet. This has restrictions placed upon it, like minimum betting odds and market type.
  • Expiry Dates: Nothing lasts forever – all bonuses have a ‘use by date’. This varies depending on the offer – it could be a few days, a week, or a month.

Place your first bet with a $5 Minimum Deposit!

You’ve registered an account and thrown in a $5 minimum deposit. You’re now ready to place your first bet. This could be with real cash (the $5 deposit) or bonus money if you picked up an offer.

  1. With the funds credited to your account, open the sportsbook.
  2. Decide whether you want to place a pre-match sports bet or an in-play (live) wager.
  3. Scroll through the sports and events to find a match that you want to bet on.
  4. Click on the match to view the available markets.
  5. Tap on the odds for the bet selection you want.
  6. Enter your stake. The amount can range between the minimum bet amount up to $5 (if that is your current balance). Lastly, confirm the bet.

FAQ’s

Why play on $5 minimum deposit sportsbooks?

There are many reasons why $5 minimum deposit sportsbooks are a good option. Firstly, if you enjoy betting, but you're on a budget, $5 deposits are the perfect solution, so you can keep your expenditure in check. Also, they suit casual bettors who only bet once or twice a week. Most online casinos are combined with a sportsbook, giving players yet more options.

How to find the best $5 minimum deposit sportsbooks?

By reading our honest and impartial guide on the best $5 minimum deposits sport betting sites. It explains the perks of using these sportsbooks while also making recommendations for you to check out. Ultimately, it's an individual choice as to which low minimum deposit betting site you prefer, which is the value of the information on this page.

What is the minimum deposit on BetMGM Sportsbooks?

The minimum deposit on BetMGM sportsbook is $10. However, with DraftKings and FanDuel offering $5 minimum deposits, it is possible that BetMGM will follow its rivals rather than lose market share.

Do banks support $5 minimum deposits for betting?

Generally, bank transfers require more than a $5 minimum deposit. However, this rule isn't set in stone. With online banking becoming more prominent, it is possible some might. That said, bettors usually need to use one of the other payment methods for $5 deposits.

Does DraftKings Sportsbook take a $5 deposit?

Yes, DraftKings is one of the leading US-licensed sportsbooks that accepts $5 minimum deposits. Furthermore, new customers can claim the sports welcome bonus, which is worth 20% up to $1,000, with only a $5 deposit.

What is the FanDuel Sportsbook minimum betting deposit?

The lowest minimum deposit on the FanDuel sportsbook is $5. However, the majority of banking methods require a $10 minimum deposit, while it's a massive $2,000 minimum for wire transfers to FanDuel.

Is there a US sportsbook with a $5 minimum deposit?

There are several $5 minimum deposit sportsbooks now available in the US. We recommend browsing through our list to find the one that offers exactly what you want.

Oliver is our expert for finding premier sportsbook bonuses. With years of hands-on experience, he navigates the dynamic world of global sports betting, ensuring you access to the best sports betting promotions. His insights will elevate your betting by making use of the sports betting bonuses avaiable to get the most value out of them on your wagers.

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