How to Bet On the NFL Draft (2020)
After months of rumor, speculation, and, of course, mock drafts, the 2020 NFL Draft is almost here. This year’s event brings with it the added wrinkle of a remote format, which should add an extra layer of intrigue to the proceedings. Another storyline will be the increased amount of NFL Draft betting as legal online sportsbooks in New Jersey and Indiana will allow you to bet on it.
Unfortunately for those located in Pennsylvania, NFL Draft betting markets won’t be available. More on that in a bit. In this post, we will provide a detailed rundown of how to the bet the NFL Draft, including betting markets available, popular draft props, and the top offers from legal sportsbooks.
Let’s get into it.
States That Offer NFL Draft Odds
Several of the industry’s top legal online sportsbooks are receiving significant betting activity on the 2020 NFL Draft. That’s an unsurprising development given the prolonged absence of live sports that dates back to mid-March.
The draft is the sporting world’s lone event that will proceed as scheduled, meaning it will garner even more attention (and betting dollars) than usual. These unusual circumstances, paired with increased wagering options and a growing U.S. legal betting market mean that interest will be undoubtedly be strong. In fact, some sportsbooks are unveiling early estimates that suggest they will take anywhere between three to five times the total 2019 handles on this year’s draft.
While sports betting is available in several states, each has the individual ability to regulate which events sportsbooks are permitted to offer. Let’s break down how some of the key stats where sports betting is legal approaching the NFL Draft.
Bettors in the Garden State will have full access to a wide range of NFL Draft wagering markets. This isn’t much of a surprise as New Jersey offered NFL Draft betting a year ago and has typically been one of the more betting-friendly states since officially launching online sports wagering during the summer of 2018. Of note, the state has a record of allowing online sportsbooks to offer odds on outcomes that extend beyond on-field competitions. For instance, those located within the state were able to wager on several key Oscars categories over each of the last two years.
We have a full list of sports betting sites in New Jersey.
Sports betting became legal in the state of Indiana in September of 2019. This year’s draft is the first in which bettors in Indiana can wager on the event, but the ability to do so should come as no surprise. Since legal sports betting launched in Indiana, the state’s gaming control board has permitted wagering on events that extend live competitions. Indiana, too, took action on The Academy Awards, and with a dearth of sporting events currently on the board, the state is allowing bettors to place bets on the draft.
We have a full list of sports betting sites in Indiana.
West Virginia is also permitting wagering on this year’s draft.
States Not Offering NFL Draft Odds
There was some hope from legal sports operators that PA would permit wagers on the NFL Draft, particularly in the midst of the coronavirus pandemic that has largely brought sports to a halt. However, it was not to be as word formally came down earlier this week. In order to bet on the NFL Draft, those located in Pennsylvania would have to travel to a state where wagering on the event is permitted.
Though bettors in PA won’t be able to wager on a growing NFL Draft prop market, they will be able to join free contests such as DraftKings Sportsbook PA’s Free-to-Play $15K Draft Pool. Register to play by clicking here.
Types of NFL Draft Bets
As mentioned above, this year’s NFL Draft brings with it an expanding list of wagering options. Here is a quick suggestion–look beyond the player to be drafted first overall prop. It’s a bit expensive as LSU quarterback Joe Burrow is an overwhelming -10000 to go to the Bengals with draft’s top pick. Let’s take a look at some of the other leading betting categories:
- Player Draft Position
- Position of 1st Round Pick
- Team’s 1st Pick
- First Overall Pick
- Second Overall Pick
- Third Overall Pick
- Over/Under Draft Position
- Position of Mr. Irrelevant
- First 3 WRs Drafted
- First 3 RBs Drafted
- Head-to-Head Player to Be Drafted First
- First Round Picks
- Top 3/Top 5/Top 10 Picks
- Round 1 Totals
- Second Offensive Player Drafted
- First Defensive Player Drafted
- Picks by Position
NFL Draft Betting Promos
With focus centered on the NFL Draft, several top online sportsbooks are offering excellent promotions and boosts. Here’s a look at some of the best offers.
FOX Bet, which offers new users both a $500 risk-free first bet and $500 first deposit match that you can grab here, is one of our favorite legal online sportsbooks. One of its distinguishing features is a robust offering of custom bets. Users can wager on a number of outcomes not offered at other sportsbooks.
For example, you can grab the Jets to draft Jerry Jeudy, the Raiders to draft CeeDee Lamb, and the 49ers to draft Henry Ruggs III at +650 odds.
FOX Bet has also offered bet boosts leading up to the draft. Currently, you can grab a boost on Jordan Love to be the New England Patriots’ first draft pick. Those odds have been boosted from +550 to +700.
Let’s say a person bets $100 on a wide receiver to go to a certain team at +1000 odds. Normally, a win on this proposition would pay a $100 bettor $1000, but thanks to this 20% profit boost, the bet now pays $1,200. This offer comes in addition to a comprehensive menu of NFL Draft betting options.
You can read more about this offer right here.
As noted above, DraftKings is also offering players (including those in PA) the ability to enter a $15K free-to-play NFL Draft Pool.
Click here to sign up for DraftKings Sportsbook, receive up to $1,000 of free bets, and score 20% profit boosts on the NFL Draft.
The headline offer from FanDuel here is their outrageous +200 odds boost on LSU quarterback Joe Burrow to be the top overall pick. Currently, Burrow is -10000 on the standard market, so this offer presents insane value for new users and an opportunity to cash in on an almost surefire $50 payout.
Moreover, FanDuel is offering all users who place $25+ worth of bets an NFL Draft Dividends bonus. Here is how this tiered promo works:
- Bet $25, Get a $5 Bonus
- Bet $50, Get a $10 Bonus
- Bet $100, Get a $20 Bonus
- Bet $250, Get a $50 Bonus