DraftKings Sportsbook is quickly upping the stakes for sports betting nationwide and in New Jersey.

The DraftKings national championship

The NJ sports betting and daily fantasy sports company announced the first-ever DraftKings Sports Betting National Championship. It’s a live sports betting event that takes advantage of the new legal NJ market. And it is the first major US sports betting competition to take place outside of Nevada.

It will take place Jan. 11-13 in Jersey City, NJ. The prize pool of the event will guarantee $2.5 million to residents, with $1 million going to the winner. That weekend is when the NFL divisional playoffs are held.

The top five places are all guaranteed a six-figure payday, and there will be prizes all the way down to 25th.

draftkings sports betting

You do not have to be a resident of New Jersey to enter; you just have to be on-hand in New Jersey for the event in order to take part. (And be 21 years of age.)

How to make the sports betting championship

According to DraftKings, you can qualify by:

  • Playing in DFS qualifiers at DraftKings
  • Buying in directly for $10,000.
  • Winning via social contests and giveaways.

The entry of $10,000 includes $5,000 for your sports betting bankroll to be used in the contest, entry into the contest, access to the weekend’s events, and a hotel room for the DFS qualifiers.

How does the actual contest work?

Think you want to try your skills in New Jersey? DraftKings gave us some details on how its betting contest works.

All betting, of course, will have to be done via the DraftKings Sportsbook app, and all bettors start with a $5,000 bankroll.

You can bet on any sports you want in the contest on Friday and Saturday in January, but you must bet at least $2,000 on the two Sunday NFL games.

It sounds like a pretty wide open contest, whereas the SuperContest in Nevada is based on NFL games over the course of the season. The DraftKings handicapping contest appears to allow a lot more freedom.

How do you win? Have the highest ending bankroll after the last game ends on Sunday.