(USA TODAY Sports) The NFL Combine is over and all eyes turn to the draft that starts on April 25. Fans wait with anticipation to see who their favorite team will select. In New Jersey, residents can wager on the NFL Draft for the first time ever. Sportsbooks like PointsBet are offering NFL Draft props, ranging from which team will select Kyler Murray to will Mr. Irrelevant be an offensive or defensive player. It really is a great time to be alive, especially if you live in the Garden State.
PointsBet is offering one of the widest selections of NFL Draft props, which isn’t surprising given the sportsbook’s reputation for releasing as many betting markets that state regulations allow. Besides PointsBet, New Jersey sportsbooks BetStars, 888 Sports, SugarHouse and DraftKings are also offering NFL Draft prop bets for the first time. FanDuel Sportsbook had yet to put up any NFL Draft wagering options at the time this article was published.
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The NFL Draft has grown immensely in popularity over the years, turning into a three-day televised event with the first-round airing in primetime on Thursday night. The Westgate LV SuperBook in Nevada is offering who will be the first player selected with Oklahoma quarterback Kyler Murray the -175 favorite. PointsBet has Murray listed as -200 to go No. 1 overall but their overall menu of NFL Draft props is well beyond anything being offered in Las Vegas.
Keeping up with offshore sportsbooks
PointsBet and some other New Jersey books now rival the number of wagering options on the draft available at offshore sportsbook, who traditionally had the upper hand with these type of betting markets. Ron Shell, PointsBet’s VP of Customer and Insights, said when it comes to untraditional betting markets like the NFL Draft, offshore sportsbooks are their biggest competition.
“We try to look well in advance with anything we offer,” said Shell. “The big thing we try to sell is all the offshore, illegal books are offering these markets and more. When we aren’t able to offer them, people take that money offshore.”
The process for sportsbooks like PointsBet to be able to offer markets like NFL Draft props is a lengthy one and as we saw recently with the combine, not always easy. PointsBet put up props for the NFL Combine and took bets on it. Then, the day of the combine, they were told by the New Jersey Division of Gaming Enforcement to take them down. What could have been an ugly situation was rectified when PointsBet decided to pay out all bets placed on the NFL Combine.
“With the combine it was a week or two before that we asked and they approved every single sportsbook,” said Shell. “Then the unthinkable happened. The day after it started they let us know we had to void those bets. We communicated pretty clearly to them something like that can never happen again, especially after they give us written confirmation. It’s a bad look for bettors, the industry and all legal sportsbooks.”
Offshore and illegal markets still a major factor in NJ
New Jersey sportsbook aren’t expecting a similar problem when it comes to the NFL Draft. Shell said the popularity of the draft made it an obvious choice for PointsBet to offer betting options to New Jersey residents. Other states with pending sports betting bills should be watching New Jersey closely. Wagering on non-traditional markets like the NFL Draft is the wave of the sports betting future. It’s one reason why offshore sportsbooks remain so popular, even in New Jersey.
Shell pointed out that over 50 percent of New Jersey gamblers still opt to wager offshore or with illegal bookmakers. By offering similar odds and lines on different sporting events like the NFL Draft, Shell is hoping more bettors in the state will ultimately decide to use legal books like PointsBet, rather than continuing to support the unregulated offshore industry.
“We really want to bring that offshore money to the legal sportsbooks and offer every type of betting market that we can,” said Shell. “Even after a really strong start in the New Jersey market, over 50 percent is still betting illegally or offshore. Until we can offer the same amount of betting markets and bet types, people will be comfortable to stay with illegal sportsbooks. We’re constantly watching what MyBookie, Bovada and other offshore books are offering so we can stay on the cutting edge of the market.”
NFL Draft props off to a fast start
Gamblers can bet on the Duke-North Carolina at any sportsbooks. Markets like NFL Draft props will draw more future customers into a sportsbook because they aren’t offered everywhere. The strategy is working for PointsBet. Despite still being over a month away, Shell said early betting on the NFL Draft props is even better than be anticipated.
“I expected the betting to pick up much closer to the draft but we’ve already taken hundreds of bets on these markets,” he said. “The most popular one being who will go No. 1 and anything to do with Kyler Murray. Even things like betting on Mr. Irrelevant has seen money bet on it already.”
PointsBet is currently offering 20 NFL Draft props. Bettors can wager on the first player to be selected at every position besides kicker and punter. Murray is the -304 favorite to be the first quarterback taken, while Nick Bosa is -304 to be the first defensive lineman selected. Customers also have the option to Name a Bet. Don’t see the player or prop you want to wager on? Contact PointsBet and they’ll put it up for you and others to bet.
Here are some of the most interesting NFL Draft prop bets being offered at PointsBet:
Kyler Murray Draft Position
Under 2.5 (-286)
Over 2.5 (+200)
Dwayne Haskins Draft Position
Under 5.5 (-106)
Over 5.5 (-125)
Team to Draft Kyler Murray
Cardinals -200
Dolphins +350
Raiders +500
Jaguars +800
Giants +800
Redskins +1200
Team to Draft Dwayne Haskins
Giants +210
Redskins +600
Jaguars +600
Dolphins +650
Raiders +700
Broncos +700
Bengals +1200
D.K. Metcalf Draft Position
Under 9.5 (-112)
Over 9.5 (-112)
Mr. Irrelevant Player Position
Offense -112
Defense -112