DraftKings Sportsbook is kicking off the season on the right foot, so to speak, by offering no spread NFL lines for Week 1.
Flying somewhat under the radar as an unannounced promo, DraftKings Sportsbook, in its app, which is currently available in New Jersey and West Virginia, is showing a no vig NFL tab. Clicking on it gives you the spreads for all of the Week 1 games at +100 odds on both sides of the bet.
Interestingly, if you go into the NFL tab, those lines have the standard juice, or vig, of -110.
So what does this mean and why is this significant?
Most even bets in sports, specifically spread bets and totals, require players to wager $110 or sometimes $105 to win $100. This extra $10 is commonly referred to as the vig, or juice, or vigorish, if you prefer. It is essentially the tax sportsbooks take on bets, as it is their goal to take 50% of the action on each side and keep 10% of the total handle. It doesn’t always work out that way, but that’s when they’re most profitable. Over time, this slight tax eats away at bettors’ bankrolls, and requires them to win well north of 50% of their bets to be profitable. This is why over the long run, it is always hard to beat the book.
We’ve seen promos like this run before at NJ sportsbooks, mainly with PointsBet, which offered these during March Madness and other times of the year. But it’s the first I can recall seeing DraftKings offering new juice, particularly on a major betting event, like the first week of the NFL season.
There is increased competition in New Jersey, with 16 sportsbooks live, including popular brands like FOX Bet and theScore, and with DraftKings needing to gain ground on FanDuel, it looks like they are doing everything they can to bring in new bettors.
New users to DraftKings can get their first bet matched up to $200 , and all users are eligible for up to $500 in deposit bonuses, which is doled out up to $50 instantly and then the rest as you play.