To make money using promotional bonuses, you can bet on two opposing outcomes at different companies. For example, if DraftKings offers a $200 bonus for a new account holder who bets $5, you could sign up, place a bet for one team to win, and simultaneously place a bet against that team with another company. This cancels out the risk while still entitling you to the bonus. You can then repeat the process with the bonus money to convert it into cash.