New Jersey Sportsbooks Prepare for NFL Draft

Legal New Jersey Sportsbooks Prepare for NFL Draft Post Thumbnail
Apr 20, 2020 05:04Joe Tarzaiski

The National Football League (NFL) is in preparation to gather virtually from their own homes for selections for the 2020 NFL draft. There has been a large amount of scrutiny regarding whether or not the draft should take place, but as of now it seems to be set and ready to go as scheduled on April 23.

New Jersey sportsbooks are also in preparation to put together odds on the NFL Draft. Due to the lack of sports, the sports gambling community is dying for anything to utilize their bankrolls.

NFL Draft Replacing Lack of Sports?

It is an unfortunate situation that the NFL Draft is the closest we can get to a sporting event because of the coronavirus outbreak. Sports bettors have been stuck at home with no action to place action on the last few weeks, and are salivating to place wagers on the NFL Draft.

Currently, the only other sports available for New Jersey betters are table tennis, Belarus Premier soccer, and Chinese Taipei which is far from enticing to NJ sports betters.

This year’s NFL Draft is predicted to be the biggest online and mobile sportsbooks in New Jersey extremely more popular than previous years due to the COVID-19 pandemic. Online sportsbooks are using the draft to offer creative betting markets to the sports betting community. Live wagering, however, is likely off the table as betting markets are set to close before the draft.

FanDuel Sportsbook has already tripled the revenue from 2019’s draft. PointsBet already matched last years revenue, and have expectations for their final numbers to reach 2.5 times higher than 2019.

DraftKings Sportsbook has also reaped benefits in their NFL Draft action. They have already surpassed their 2019  NFL Draft revenue, and expecting their numbers to continue to escalate. The numbers of their 2019 results show 90% of their wagering volume was received in the final 10 days of draft day.

Draft Day Wagering Escalating Due to Lack of Sports

Johnny Avello, the Director of Sportsbook Operations for DraftKings, explained the increase of the NFL Draft betting action is due to the increase of draft betting markets. There were 43 legal markets in 2019 which grew to 130 in 2020. In addition, many sports bettors are gravitating toward a familiar sport betting opportunity due to the suspension of all major sport leagues.

"We took some major hits, there's no question about it," stated Avello, "but we're staying above water with what we have to offer. I would say the company is in good shape, and we're gonna come out blazing when this thing's over."

Patrick Eichner, Director of Communication for PointsBet, stated the handle will reach the same financial outcome as premier National League Football events such as Monday Night Football.

There is no doubt that the numbers will be escalated due to the suspension of nearly all sporting events for the NFL Draft. The question is the extent of money risked due to the amount of people currently facing financial hardship.

Related Articles

NFL Week 1 lines out Interesting Stories & Highlights from NFL Week 1 Initial Lines
Jul 23, 2021
Ohio lawmaker promises sports betting bill in fall Sports Betting a ‘Top Priority’ for Fall in Ohio, Lawmaker Says
Jun 30, 2021
States rush to legalize sports betting before NFL season States Rush to Legalize Sports Betting Before Start of NFL Season
Jun 23, 2021
Nationals Park opens online sportsbook Nationals Park Becomes First MLB Venue to Offer Sportsbook App
Jun 16, 2021
Sportsbooks payout Jon Rahm bets Jon Rahm Forced to Withdraw, Some Books Still Pay Out Wagers
Jun 09, 2021
Colorado sports bettors love table tennis Colorado Bettors Love Table Tennis, Even with Other Sports Back
Jun 04, 2021
ESPN host cashes in on NFL Draft bet ESPN Host Cashes in on NFL Draft Bets, Wins Nearly $300K
May 26, 2021
Florida Senate passes sports betting bill Florida to Legalize Sports Betting, But Legal Challenges Expected
May 19, 2021
Tennessee lottery gives up control of sports betting Tennessee Sports Betting Explodes, as Regulatory Agency Changes
May 13, 2021
Joe Tarzaiski
Lady Liberty
Joe Tarzaiski Avatar
Joe Tarzaiski began his sports writing career in 2004 in the Philadelphia market, analyzing and handicapping professional sports, college sports, poker and various table games. He currently reports on the increased efforts on the legalization and continual growth of sports betting throughout the United States. A Philadelphia University alum, Joe is dedicated to following current trends in both the gaming community and daily news throughout the sports world.
About / Advertising Disclosure
Previous Post Thumbnail
Previous Article
Next Article
Next Post Thumbnail