It was already expected that this year’s NFL Draft would attract a lot of attention from sports gamblers. The coronavirus pandemic has temporarily shut down virtually all athletic competitions, leaving gamblers without much direction. As a result, they’re going to channel their energy (and money) into the draft, and most sports gambling analysts predict that this year will see the most activity ever witnessed in a draft. The handle taken by sportsbooks could be at least five times what was received last year or as much as 20 times higher.
Bet-NJ expects that $5 million will be wagered on the NFL Draft, which will get underway today and run through Saturday. Last year, the handle was just $1 million and, combined revenue for states where the practice is allowed will be about $500,000. Not much compared to what sportsbooks had been hoping for with sports contests, but it’s better than nothing and a step toward recovery. Fox Bet predicts an even greater amount, asserting that the market might reach as high as $20 million.
William Hill’s director of trading, Nick Bogdanovich, discussed the draft with Forbes magazine a couple of weeks ago, asserting, “This year’s draft will be by far the biggest handle we’ve seen. As an isolated event, there is more interest. Had the NFL Draft been held in Las Vegas as originally scheduled, there’s no telling how much would have been bet but we would have written an insane amount of money.”
William Hill US CEO Joe Asher is just as convinced as Bogdanovich, telling The Associated Press, “There’s no doubt this will be the biggest-bet draft ever. The draft is a time of renewal, and I think people are looking forward to a bit of fun after all of the tough news we’ve had recently. Betting on the draft is small in context, so this is no silver bullet, but it’s something positive for sure.”
The numbers could be even higher than anticipated if it weren’t for Pennsylvania. The Keystone State has a robust sports gambling market and one that could reportedly rival that of New Jersey or Nevada once things return to normal. However, lawmakers were remiss in their duties when sports gambling was legalized, and failed to include a provision that would specifically allow wagers on the draft. The state law allows for bets on sports games and events or individual athletic performances – the draft doesn’t fall in any of those categories. According to Pennsylvania Gaming Control Board Communications Director Doug Harbach, “Since the draft is not a sporting event or athletic contest, is it not something in which wagers can be placed.”
The draft kicks off today, but whether or not it operates without major technical difficulties remains to be seen. The coronavirus is forcing the first-ever remote NFL Draft, with teams, players and league officials joining in on what could be the largest conference call in NFL history. A lack of technical expertise, overwhelmed circuits and low bandwidth could cause problems, and sportsbooks are even offering lines on the number and types of issues that will be seen.
