Underdog Predict Promo Code for $50 Bonus (Verified April 11)

Sign up using the Underdog promo code DEFIRATE to get $50 in bonus entries after your first $5 play. The offer is available to new accounts and applies to Underdog’s full product suite; terms and conditions apply.

Underdog Predict is a CFTC-regulated prediction market available in 31 states and Washington DC, including California, Texas, and Florida. The app allows you to trade event contracts on sports outcomes and culture markets. The key difference between Underdog Predicts and a sportsbook like Caesars is you trade against other users in an open market, with contract prices reflecting real-time probability.

This Underdog Predict review covers how trading works on the app and where it’s available. Take advantage of the $50 in bonus entries with our Underdog promo code or keep reading to see how the sign-up bonus works and how Underdog Predicts stacks up against Kalshi and Polymarket.

Underdog Predict promo and app details

How to get $50 in Underdog bonus entries

Underdog offers all new accounts $50 in bonus entries after your first $5 play when you enter DEFIRATE in the promo code field. This offer is for new accounts only and comparable with other prediction market promos. Here are the steps to sign up, claim the bonus, and start trading.

Step 1 — Create your account and enter promo code DEFIRATE

Head to the Underdog app or underdogfantasy.com and tap “Sign Up.” You’ll need to provide your full name, email address, date of birth, phone number, and home address. Look for the promo code field during registration and enter DEFIRATE — a green checkmark will confirm the code is active. Underdog uses its own KYC verification process to confirm your identity before your account is approved.

Step 2 — Fund your account

Underdog does not offer a no-deposit bonus, so you’ll need to fund your account before the $50 in bonus entries is credited. For Predict trades specifically, only debit cards (including Apple Pay) and Trustly (direct bank connection) are accepted. PayPal and Venmo are available for DFS entries but cannot be used to fund prediction market trades. The minimum deposit is $10.

Step 3 — Find a contract and read the rules

Every Underdog Predict market is tied to a specific sports outcome — a game winner, spread, total, or futures contract. Before placing a trade, review the market rules, which explain exactly how and when the contract settles. A contract priced at $0.65 implies a 65% probability of that outcome occurring. If you’re right, it settles at $1.00 per contract. If you’re wrong, it settles at $0.

Step 4 — Place your trade

Select the market you want to trade, choose your outcome, and enter the number of contracts you want to purchase. Confirm the details — including the $0.02 exchange fee per contract — and submit. All trades execute at the live market price. Limit orders are not supported, so the price you see at submission is the price you get.

Step 5 — Cash out or hold to settlement

Once your position is open, you have two options. Hold to settlement, where a winning contract pays out $1.00 each and a losing contract expires at $0. Or cash out early via the Track tab before the event starts — the cash-out value reflects the current market price of your contracts, which may be higher or lower than your entry cost. Payouts on settled contracts are processed within 24 hours. Withdrawals are available via debit card, PayPal, Venmo, or Trustly, with no withdrawal fees.

Underdog Predict promos for existing accounts

Underdog’s promotional tools — No Sweat tokens, Gimme Pick tokens, Boost tokens, Multiplier Boosts, and the Playback Program — are exclusive to DFS and Pick’em entries. None of these apply directly to Predict trades. If you haven’t signed up yet, the Underdog welcome bonus is the place to start — enter code DEFIRATE at registration to get your $50 in bonus entries. For existing accounts, you have two ways to get additional value on the app.

Combo entries

The one promotional bridge between DFS and Predict is the combo entry format. You can combine a Predict contract with two to eight standard fantasy picks in a single entry. The majority of the entry fee goes toward the prediction market contract, with 10% allocated to the fantasy portion. This means your existing bonus funds can cover the fantasy leg of a combo, giving you indirect access to promotional value you otherwise wouldn’t get on straight prediction trades.

Refer a friend

Underdog’s referral program lets you earn bonus credit by referring new players. Share your unique referral code from the Account section — when a friend signs up, makes a minimum $10 deposit, and places their first entry, you receive a credit to your account. There is no cap on how many friends you can refer. If your friend doesn’t have a personal referral link, they can use referral code DEFIRATE to claim the $50 new account bonus instead.

Compare Underdog against other prediction apps

Use the comparison tool below to compare Underdog against Kalshi, Polymarket, FanDuel and more. You can add additional platforms or pin specific apps side by side.

What is Underdog Predict?

Underdog launched its prediction market product in September 2025 under the name Underdog Predict, accessible inside the Underdog app as Team Picks. The app lets you buy and sell event contracts on sports outcomes — game winners, spreads, totals, and futures — rather than placing a traditional sportsbook wager. You’re trading against other users on a regulated exchange, not against Underdog itself.

Underdog Predict operates as a wholly separate product from Underdog’s DFS and Pick’em offerings, with distinct payment rails, tax treatment, and account structure.

In March 2026, Underdog acquired Aristotle Exchange DCM and DCO — two CFTC-approved entities that give Underdog the regulatory infrastructure to list and clear its own event contracts directly. No launch date has been announced for when Underdog will transition away from the CDNA partnership, but the acquisition signals a longer-term move toward operating its own exchange.

Contracts are priced between $0.01 and $0.99, reflecting the market’s real-time probability of an outcome occurring. A contract priced at $0.65 means the market collectively assigns a 65% chance of that outcome happening. If you’re right, the contract settles at $1.00. If you’re wrong, it expires at $0. You can also sell your position before settlement if the market moves in your favor, locking in a profit or cutting a loss without waiting for the event to resolve. The Underdog Predict promo code for new accounts is DEFIRATE — play $5 and get $50 in bonus entries.

Is Underdog Predict Available?

Yes. Underdog Predict is available and operates under federal regulatory oversight from the US Commodity Futures Trading Commission (CFTC) through its partnership with CDNA, a CFTC-registered designated contract market and derivatives clearing organization. This federal classification is what allows Underdog Predict to operate in states where traditional sports betting remains illegal, including California, Texas, and Florida.

It is worth understanding the regulatory distinction clearly. Underdog Predict contracts are classified as event contracts under the Commodity Exchange Act, not as sports wagers under state gaming law. The CFTC’s jurisdiction over event contracts preempts state gambling regulations, which is the legal basis for operating in non-sports-betting states.

In April 2026, the CFTC and DOJ filed federal lawsuits against Arizona, Connecticut, and Illinois, arguing those states cannot constitutionally restrict CFTC-regulated prediction markets. The outcome of that litigation will have significant implications for where Underdog Predict can operate going forward. Underdog Predict is currently unavailable in 18 states, including New York, New Jersey, Illinois, Pennsylvania, Ohio, and Michigan.

Where is Underdog Predict Available?

Underdog Predict is currently available in 31 states and Washington DC. Sports event contracts are available in all eligible states. You must be physically located in an eligible state at the time of trading — a VPN will not bypass location verification.

How Underdog Predict works

Underdog Predict is a sports event contract exchange, not a sportsbook. Instead of placing a bet at fixed odds against a house, you buy or sell contracts based on how you think a real-world sports event will play out. Every contract represents a yes or no position on a specific outcome, and the price reflects what the broader market thinks the probability of that outcome is at any given moment.

Here are a few examples of how contracts work on Underdog Predict:

• Will the Chiefs win the AFC Championship?
• Will the Lakers cover the spread vs. the Celtics?
• Will this game go over 47.5 total points?
• Who will win the NBA Championship?

When you find a market you want to trade, you select your outcome, choose the number of contracts to purchase, and confirm at the live market price. A $0.02 exchange fee applies per contract. All trades execute at the current market price — there are no limit orders, so what you see at the time of submission is the price you get.

Contract pricing and payouts

Contract prices run from $0.01 to $0.99 and reflect implied probability. A contract priced at $0.72 means the market assigns a 72% chance of that outcome occurring. If you agree and buy at $0.72, you risk $0.72 per contract to win $1.00 per contract if correct — a net profit of $0.28 minus the $0.02 exchange fee. If incorrect, the contract expires at $0 and you lose your entry cost including the fee.

Say I purchase 10 contracts on the Chiefs to win at $0.72 each. That’s $7.20 in contracts plus a $0.20 exchange fee — $7.40 total out of pocket. If the Chiefs win, my 10 contracts settle at $1.00 each, paying out $10.00 and netting $2.60 in profit. If they lose, the contracts expire at $0 and I’m out $7.40.

Available market types

Underdog Predict currently offers four market types across eight sports:

• Winners — straight game winner contracts. You pick which team or player wins the matchup outright.
• Spreads — point spread contracts. For example, Chiefs -3.5 means Kansas City must win by more than 3 points for a yes contract to settle in the money.
• Totals — over/under contracts on combined points, runs, or goals scored in a game.
• Futures — longer-dated contracts on season outcomes such as NFL Championship Winner or NBA Championship Winner.

Sports currently covered include the NFL, NBA, NHL, MLB, college football, college basketball, soccer, and tennis. The predictions app also includes a “Culture” tab, which offers politics, oscars/grammys, weather and bitcoin markets.

Combo entries

One feature that sets Underdog Predict apart from every other prediction market is the combo entry. You can combine a Predict contract with two to eight standard fantasy picks in a single entry. The majority of the entry fee funds the prediction market contract, with 10% allocated to the fantasy portion. Multi-team prediction entries support up to four prediction picks per entry. Cash-out on multi-team entries is only available before any game in the entry has started.

Live trading and early cash-out

Underdog Predict supports live trading, meaning you can exit your position before an event settles. If the market moves in your favor after you buy a contract, you can sell it at a higher price and lock in a profit without waiting for the final result. The reverse is also true — if sentiment shifts against you, you can cut your loss rather than hold to settlement.

To cash out early, navigate to the Track tab and select Cash Out on your open position. The cash-out value is determined by the current market price of your contracts at the time of the request, which may be higher or lower than your original entry cost. Cash-out is only available when you are physically located in an eligible state at the time of the request.

Say I buy 10 contracts on the Seahawks moneyline ahead of Super Bowl LX at $0.58 — the market has Seattle as a modest favorite going into the game. The Seahawks score on the opening drive and the contract jumps to $0.74. Instead of holding through four quarters, I open the Track tab, tap Cash Out, and lock in the gain at the current market price. I never had to hold to settlement to book a profit.

Contracts settle within 24 hours of the event concluding. Winning contracts pay $1.00 each. Losing contracts expire at $0.

What happens if a game is postponed or canceled?

If a game or event does not conclude within 48 hours of its originally scheduled start time, it is treated as a canceled event. Settlement in that case is based on the market prices from the one-week period immediately before the cancellation determination — you will receive a payout somewhere between $0 and $1.00 depending on which side you held and what the market implied at that time. Trading fees are refunded on canceled events for most accounts. If your markets run on Kalshi’s exchange, exchange fees are not refunded — check the market rules before trading.

What traders are saying about Underdog Predict

Underdog carries strong marks across both major app stores, driven largely by its established DFS product. The Predict feature launched in September 2025 and is still accumulating its own user base, so most reviews reflect the broader Underdog ecosystem rather than prediction markets specifically. The Underdog sign-up bonus gives new accounts enough runway to test the app across a few markets before committing real capital — use code DEFIRATE at registration to claim it.

The App Store and Google Play scores reflect a genuinely popular product with a large, engaged user base. The TrustPilot gap is consistent with the broader industry — DraftKings and FanDuel both sit at 1.2/5 on TrustPilot, where the self-selecting complaint-driven audience produces scores that bear little resemblance to app store averages. Underdog has not claimed its TrustPilot profile and does not respond to reviews there.

Common themes in positive reviews point to the app’s clean interface, ease of navigation, and the variety of Pick’em and draft formats. Critical reviews most frequently cite slow withdrawal processing, customer support response times, and contest grading disputes — none of which are specific to Predict.

Community and support channels

Underdog’s most active community channel is its official Discord server, where the team engages directly with you on product updates, promotions, and support issues. Twitter/X and TikTok are used primarily for promotional announcements. Reddit activity is lighter — Underdog does not maintain an active presence on r/underdogfantasy comparable to its Discord engagement, so Discord remains the better channel for direct responses.

Customer support is handled through in-app chat and email at [email protected]. The in-app chat routes through an AI assistant called Bandit before escalating to a live agent. Response times vary based on volume, with faster turnaround typically available through Discord for general product questions.

How Underdog Predict trading fees work

Underdog Predict charges $0.01 per contract, per side — meaning the commission applies when you open a position and again when you close or settle it. This is a flat rate regardless of contract price: a contract trading at $0.05 and one trading at $0.95 both incur the same $0.01 commission per side. Note that exchange and regulatory fees are assessed separately and passed through to the customer on top of the UDM commission; the examples below reflect UDM commission only.

There is no maker/taker distinction because Underdog Predict does not support limit orders — every trade executes at live market price.

Here is an example of how fees work:

Correct prediction: Say I purchase 10 contracts on the Chiefs to cover the spread at $0.60 each — $6.00 in contracts plus a $0.10 opening commission, so $6.10 out of pocket. Kansas City covers. My 10 contracts settle at $1.00 each. Settlement closes the position, triggering another $0.10 commission, so the $10.00 payout nets $9.90. Net profit: $3.80.

Incorrect prediction: I made the same trade but this time, Kansas City doesn’t cover. Contracts expire at $0. No closing commission applies on an expiration — only the $0.10 opening commission was charged. Total loss: $6.10.

On a round-trip basis — open plus close — Underdog’s $0.02 total per contract is competitive against Kalshi at mid-priced contracts. FanDuel Predicts charges a 2% fee per trade, the highest percentage-basis fee among major CFTC-regulated prediction markets.

Deposit and withdrawal fees

Underdog does not charge deposit fees on any accepted payment method for Predict funding. Debit card, Apple Pay, and Trustly deposits are all fee-free on Underdog’s end, though your bank or card issuer may apply their own charges independently. Withdrawals are also free across all methods — debit card, PayPal, Venmo, and Trustly — with no per-transaction fee attached.

How are prediction market winnings taxed?

Because Underdog Predict operates as a regulated futures exchange under the Commodity Exchange Act, event contract trading occupies a different tax category than gambling. While the IRS has not issued specific guidance on prediction market contracts, the prevailing view among tax professionals is that they should be treated as financial instruments rather than gambling winnings — meaning losses can offset gains rather than being subject to the 90% gambling loss deduction cap introduced in the One Big Beautiful Bill Act, signed July 4, 2025.

Responsible trading at Underdog Predict

Underdog offers a structured set of responsible trading tools accessible directly through the app. These apply across the full Underdog app, including Predict, DFS, and Pick’em.

Self-imposed limits and controls

Users can set the following limits in-app at any time:

State-mandated deposit caps apply in some jurisdictions regardless of user settings — Massachusetts caps deposits at $1,000 per month, Maryland at $5,000 per month, and Tennessee at $2,500 per month.

Additional prediction market platform promos

Underdog Predict is one of a growing number of CFTC-regulated platforms offering sports and culture events. If you trade across multiple platforms or want to compare fees and bonuses, here are the other major options and apps like Underdog.

• Kalshi: Kalshi is a CFTC-regulated prediction market available in all 50 states, with markets covering sports, politics, economics, and culture. Sign up with code DEFI to earn $10 after your first $10 in trades. See our Kalshi promo code page for full details.
• Polymarket: Polymarket is the world’s largest prediction market by global volume and returned to the US in late 2025. Use invite code RATE at signup to claim a $20 account credit. See our Polymarket invite code page for full details and how to skip the waitlist.
• FanDuel Predicts: FanDuel Predicts is a standalone app built in partnership with CME Group, offering sports contracts in states without legal sports betting. New users receive a $25 bonus with no deposit or code required. See our FanDuel promo code page for full details.
• DraftKings Predictions: DraftKings Predictions runs through CME Group and shares the same order book as FanDuel Predicts, giving both platforms identical market pricing. No promo code is needed for the $25 new user offer. See our DraftKings Predictions promo code page for full details.
• Crypto.com: Crypto.com operates the CDNA exchange that powers several prediction market platforms, including Fanatics Markets. Users who trade directly on Crypto.com can earn $50 with code DEFI. See our Crypto.com promo code page for full details.
• OG.com: OG is Crypto.com’s dedicated prediction markets app, separate from the main Crypto.com platform. Check our OG promo code page for current offer details. See our OG.com promo code page for full details.
• Robinhood: Robinhood routes prediction market trades through Kalshi and is available in all 50 states, with some sports restrictions in Maryland, New Jersey, and Nevada. New users can earn up to $200 through an exclusive link. See our Robinhood promo code page for full details.

Our final score: 3.9 / 5.0

Underdog Predict is a well-built entry into the prediction markets space from a company that already knows how to run a consumer sports product. The app is fast, intuitive, and has the cleanest trading interface we’ve tested across any CFTC-regulated prediction market. If you’re already an Underdog user, the transition from Pick’em to Predict feels seamless because everything lives in the same app. The combo entry format is a unique differentiator.

New to the Underdog app? The Underdog bonus code is DEFIRATE — play $5, get $50 in bonus entries.

Underdog Predict is a registered FCM offering event contracts. Trades may be placed on CDNA, a registered DCM, powered by UDM Services, LLC. Trading involves significant risk and is not appropriate for all. Must be a U.S. resident. Terms apply: underdogpredict.com. Content is promotional and is not a recommendation to trade.