Is it too soon to miss the good ‘ol days of sports betting?
Well, probably, but when it comes to NFL Draft betting, I think now is a perfect time to miss the good ol’ days.
To wit: The NFL Draft is a little less than six weeks away, and the betting options are sparse. At BetMGM, there are just five different markets — first pick, first running back drafted, first wide receiver drafted, first tight end drafted, first offensive lineman drafted. FanDuel mirrors these same five markets. ESPN Bet is even more limited with just the first player drafted market. DraftKings offers slightly more variety, including markets on which team will draft Travis Hunter (Patriots are +185 favorites) and which will draft Ashton Jeanty (Bears at +150 leading the pack).
I could elaborate further, but won’t, because the current state of affairs is disappointing.
The truth is, if you rewind just a few years, virtually every sportsbook offered robust NFL Draft markets. Bettors had access to dozens, if not hundreds of potential wagers.
And it was glorious.
Caesars and the now-defunct (at least here in America) PointsBet were the standard-bearers. They simply listed … everything. A vast array of markets, all available practically the day after the Super Bowl.
Today? Caesars only has the first pick market available. And Fanatics, which acquired PointsBet, is doing relatively well with markets for the second, third, and fourth picks. Not exactly impressive, but at least better than most.
So what happened? Why have sportsbooks dramatically scaled back their offerings?
The answer is straightforward: They dislike these information-driven markets.
I know this directly from bookmakers. The NFL Draft typically results in losses for sportsbooks. Essentially, it becomes a race to react to breaking news — and rumors — as they circulate on Twitter.
Beyond that, there were abundant arbitrage opportunities in previous years. Not even the deeply hidden ones.
I clearly recall the market for total offensive linemen drafted in the first round a few years back, with the number set at 5.5. I bet both sides, one at +120 and the other at +140. I continued betting until I reached my limits.
This eventually backfired as I’m now severely restricted at both those unnamed sportsbooks, but whaddya gonna do. I profited.
But I genuinely miss those days. I’d invest hours analyzing markets, identifying guaranteed opportunities.
By draft night, I’d watch with those-guaranteed profits already secured. That feeling is unmatched — pure upside.
Oh, how I miss it.
In any case… good luck with your NFL Draft betting, if you’re so inclined. I believe my days in that arena have concluded.
UFL kicks off in a little over two weeks, though, so there is that.
