How Does the DraftKings Hot Streak Work?

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On Tuesday, DraftKings introduced Hot Streak, a promotion to award players that can put together daily fantasy winning streaks. When participating, players can win up to $1,000 for every 7-day winning streak and smaller prizes for lower streaks.

You can get started for just $5.

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DraftKings Hot Streak Details

The DraftKings Hot Streak promotion is limited to DraftKings’ Hot Streak Challenge contest, available for the site’s NBA contests. For each contest that you place in the Hot Streak, you will receive $10 plus a Hot Streak Challenge entry for the next day.

Here is how Hot Streak works and how you can win up to $1,000 in prizes.

Step 1 – To get started, you must first enter a Hot Streak contest with a $5 buy-in at DraftKings. The easiest way to find these contests by searching for “Hot Streak” in the search bar. A new contest is run each day and you can rejoin at any time.

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Step 2– Those that place in the top 1400 (approximately 28% of the field) in the Hot Streak Challange will receive $10 plus a free $5 entry to the next day’s Hot Streak Challenge, which you will automatically be registered for.

Step 3 – After placing in the contest, you will need to make sure you set your lineup for the next day to keep your streak alive. If you manage to put together 7 wins in a row, you will receive $1,000. You can win $1,000 every time you put together a streak of 7 or more days.

If you don’t place in the contest, you can play again the next day and attempt to start your streak again. Note that you are only allowed to enter once in each Hot Streak contests.

When you earn at least a 4-day streak you will be shown the Hot Streak Leaderboard:

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Hot Streak Prize Details

Here is a list of prizes for the Hot Streak Challenge, which is available to all players that hit the appropriate streaks in these contests.

1 Day – $10 + free entry
2 Day – $10 + free entry
3 Day – $10 + free entry
4 Day – $10 + free entry
5 Day – $10 + free entry
6 Day – $10 + free entry
7 Day – $10 + free entry + $1,000

Is Hot Streak Worth It?

Hot Streak is a lot of fun, but what is the value like? In short, maybe not that great.

A player over on Reddit calculated that the game charges the equivalent of 18.1% in rake. Hitting the jackpot, which will happen approximately 1 in 10,000 times would need to be about $5,000 for the contests to be the equivalent of 10% rake, which is the industry average.

Sure, players who frequently put up strong lineups will have a good chance in Hot Streak, but with the variance, you may be better off playing your regular contests.