NFL Draft Betting a First Time Winner
NFL draft betting was a new experiment by the Vegas books and was well received by bettors. The betting handle on the NFL draft proposition bets was off to a good start as book operators were pleased with the high level of interest by the public.
NFL draft betting was declared a first time winner by the Vegas bookmakers.
William Hill sports book director Nick Bogdanovich stated it was a good foundation for years to come and will grow bigger each year. He said, “it exceeded all expectations by a mile. I was very happy. We will get more creative next year and put more stuff up and get it out earlier.”
Betting the NFL draft was approved by the Gaming Control Board and is a growing trend for new revenue. They approved earlier wagering on the Heisman Trophy award and Super Bowl MVP player. The NBA Draft could follow next year as more legalized prop bets provide the most profitable hold percentage for the books. Adding different betting platforms each year keeps the betting public interested and creates new revenue outlets.
It created a lot of media interest and as reported there was good two-way action on the props. The most popular wager was on the quarterback total of 3.5 selected in the first round. Under bettors cashed their tickets but it was a close call as a total of three quarterbacks were selected. It went under by a half. The over 3.5 quarterbacks was posted at +205 and looked good with three quarterbacks picked early at the 2, 10 and 12 spots. One more needed in the next 20 picks left but it stayed under the total. A William Hill bettor cashed his $8400 wager to win $4000 for his under bet. The under 3.5 quarterbacks was listed at -210 and other books lost with that particular prop.
Another popular bet that was very close was the total running backs selected in the first round at 2.5. Two running backs were selected in the first nine picks but teams passed on running backs the rest of round one. Bettors cashed the under 2.5 at +280 posted by William Hill.
It shows a lot of value and nice payouts as bettors did pour in money on this new betting opportunity.
Three wideouts were drafted in the top nine picks but no more in the first round. That prop bet was exact and pushed at three total. Defense won the first round 19 to 13 as 9 of the final 12 picks were defensive players. The defense prop was a handicap of -5.5 at +150 and landed on a 6 player difference for the over 5.5 bettor to cash. Bookmakers numbers were dead on predictions and the half point was the difference in some key props. The only value to be found was on the plus lines but bettors were on edge as there was no easy picks. Winners were hard to estimate and the drawn out draft selection process was too much waiting.
A previous post asked whether NFL draft props were worth a wager and that question has been answered. Those books that did not participate watched from the sidelines but will probably play next year.