NFL Draft betting heats up at New Jersey sportsbooks

With the NFL Draft still a few days away, FanDuel New Jersey has taken three times the handle on the event compared to this time last year. PointsBet has already doubled last year’s NFL Draft betting handle and expects the final figure to be around “two-and-a-half times larger than last year”.

DraftKings New Jersey has already taken more wagers on the NFL Draft then it did last year. According to Johnny Avello, Director of Sportsbook Operations at DraftKings, the increase in gambling interest is because the number of betting markets for the draft has risen from 46 to more than 130.

SEE ALSO: NFL BETTING IN NEW JERSEY

Avello stated, “When you put up three times as many markets as you had in the past, certainly by expanding the menu you expand the volume. That’s one reason betting on the draft is up. The other is, in light of what other sports we’ve offered — I mean, ping-pong’s done great, but the core stuff is just not around — and with this being the first real big event since the virus situation, I’m not surprised that people are just chomping at the bit to wager on something that they’re very familiar with.”

PointsBet is the leader of the pack with more than 170 NFL Draft betting markets available in either Indiana or New Jersey. In the eyes of Patrick Eichner, Director of Communications at PointsBet, “The handle will ultimately be on par with a standalone marquee NFL event, i.e. a Monday Night Football or Thursday Night Football matchup.”

Most popular NFL Draft betting markets

According to FanDuel New Jersey, its top five markets by number of wagers placed are:

• The team to draft Tua Tagovailoa
• Who will be the first pick
• First pick by the New York Giants
• The first wide receiver taken
• The exact order of the first three picks

The rankings are different when you consider total money wagered rather than the number of bets placed. Joe Burrow (-7000) is the odds-on favorite to be the first pick in the 2020 NFL Draft, so that bet could skyrocket up the charts as the first round approaches.

For now, FanDuel’s top five NFL Draft wagers by handle are:

• Who will be the first pick
• Tua Tagovailoa’s draft position
• Number two overall pick
• Total number of quarterbacks taken in the first round
• The first wide receiver taken

FanDuel has some creative markets for the NFL Draft, including an over/under line of 4.5 for the number of quarterbacks taken in the first round. Some 62% of the wagers have been on the over, yet 85% of the total handle is with the under.

2020 NFL Draft specials and exotics

Online bookies are offering a wide variety of wagering options on the 2020 NFL Draft. FanDuel’s Director of Publicity, Kevin Hennessy, stated, “The NFL Draft is one of the FanDuel Sportsbook’s most popular markets, and we have an incredibly diverse offering available for our customers to enjoy what looks to be a big TV night to celebrate the NFL.”

Several New Jersey sportsbooks have trifecta wagers available for the exact order of the first three players chosen. The most popular pick for that wager at FanDuel and DraftKings is Joe Burrow, Chase Young, and Jeffrey Okudah. DraftKings said that bet has been the most popular of all its offerings for this year’s draft.

The fourth pick belongs to the New York Giants and a significant amount of mock drafts have them selecting Clemson linebacker Isaiah Simmons. Simmons is at +130 with DraftKings to be the Giants’ first pick, while the bookie has Alabama receiver Jerry Jeudy as the +500 favorite to be the New York Jets’ first pick at 11th overall.

It is expected that DraftKings will offer players big odds boosts as the draft draw closer. It currently has a promotion that allows every player to use two 20% profit boosts on any NFL Draft bet.

Avello said, “When you have a lot of time on your hands, you can go a little bit deeper than you normally would go. We would’ve had the NCAA basketball tournament, we would’ve had the Masters, we would’ve had baseball going, and the NBA and NHL playoffs. We don’t have any of that. So it gives the team time to explore options.”

DraftKings will not have live betting for the NFL Draft, but it was discussed. As it stands, pre-event odds will be renewed before each day of the draft. Avello said, “We did talk about doing it live, but I think it’s a little complicated. We’re probably going to do only the traditional way.”

Tua Tagovailoa betting specials

Tua Tagovailoa’s prospects are the basis for one of the most popular NFL Draft bets at all of the New Jersey sportsbooks. The two teams with the best odds to take him at PointsBet are the Miami Dolphins, who have the fifth pick, at +110 and the Los Angeles Chargers, who have the sixth pick, at +115.

Other teams that have decent odds to take the Alabama quarterback are the Washington Redskins (+1300), who hold the second pick, and the Jacksonville Jaguars (+600) and the Las Vegas Raiders (+1500), who will likely have to trade up to get him. There is a decent chance of that happening, as it recently came out that the Detroit Lions are willing to listen for trade offers for the third pick overall.

Although the Tampa Bay Buccaneers made a big splash with the off-season signing of six-time Super Bowl-winning quarterback Tom Brady, they have plunged from +8000 to +2500 to select Tua. The Buccs have the 14th pick overall and will have to trade up to get him.

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