In 2016, DraftKings would not go anywhere near the phrase sports betting. With the US sports betting market open though, DraftKings is fully embracing its sportsbook side with a major sports betting event featuring at least $2.5 million in prizes.

On Friday, the company announced the Sports Betting National Championship. This event will run Jan. 11-13 in Jersey City, New Jersey and offer big bucks to the best bettors.

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How the Sports Betting National Championship works

Not unlike a horse handicapping contest, participants in the Sports Betting National Championship start with a given bankroll. In this case, it is $5,000. Over the course of three days, contestants place wagers in the DraftKings Sportsbook to try to grow their roll. At the end of the weekend, prizes are awarded based on whose bankroll is biggest.

The event boasts a $2.5 million prize pool. Should the contest draw more than 531 entries, there will be even more money on the line.

For now, those taking part should know the winner is taking home at least $1 million. Runner-up takes $350,000, while third place gets $250,000. The top 25 contestants all earn paydays.

To sweeten the pot, you also get to take home whatever is in your contest bankroll. However, in order to play, you do need to put up a $10,000 entry fee.

DraftKings running DFS satellites through Jan. 8

Anyone who wants can put up the $10,000 to buy-in directly. If you want to win your way in on the cheap though, DraftKings is giving its daily fantasy players plenty of shots at a seat.

Satellites for the contest will be running on Draftkings for as little as $.10. If you win a satellite seat, here is what you get:

  • Your $10,000 entry fee (includes $5,000 bankroll)
  • VIP treatment throughout the event
  • Hotel stay

With satellites running on the DFS side, you do not need to be in New Jersey to qualify. If you are in a state without DFS, there is still hope for you too. There will be social contests and giveaways for the event as well, so be sure to follow DraftKings on all your social networks.

More details on running up your roll in the contest

As much as you may want to win a seat and then just sit on your $5,000 bankroll to take home, that is actually against the rules.

Participants in the event must wager at least $1,000 before betting closes on Saturday night. During that first two-day period, you can bet on any sport you want. However, on Sunday, your only option is the NFL. And by then, even NFL games are slim pickings.

The only games on Sunday will be the two NFL Divisional Playoff Games, which means in-play betting will probably play a big roll in who ends up with the biggest roll.

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