For NFL bettors seeking offseason action, they don’t have to look further than the draft.
Unlike a game, however, the draft is an information (or misinformation) market. That makes it difficult for oddsmakers to set lines and offer a variety of bets other than “who will go No. 1 overall?”
“It’s all about opinion,” Caesars lead college football trader Joey Feazel told USA TODAY Sports. “These are human beings who are going to choose a person in the NFL draft.”
The markets, then, must react to supposed information leaks – even if bettors take action on anonymous Reddit posts. The odds for Will Levis, a projected first-round quarterback, underwent a major shift Tuesday morning following a post on the site saying Levis was telling family and friends the Carolina Panthers were taking him first overall.
“Anytime we get a flood of money or a flood of bets coming in, we have to assume that information has some sort of value around it,” Feazel said.
MORE: Five potential surprise NFL draft first-round picks
MORE: Five NFL draft prospects who could slide in (or out of) the first round
Where can you bet on the NFL draft?
Even in jurisdictions where sports betting is regulated, the state may not offer wagers available on the draft. Of the states where sports betting is legal, NFL draft bets are not permitted in:
-
Connecticut
-
New York
-
Virginia
-
Pennsylvania
-
Rhode Island
It comes down to what the state’s sports gambling governing body considers a competition.
The rules vary state-to-state, with deadlines and bet limits differing across certain borders.
NFL draft betting rules by state
Arizona: Markets must close before the start of the first round (8 pm ET Thursday).
Iowa: Markets must shut down 24 hours before the draft begins and cannot reopen during the event.
Massachusetts and Michigan: Bets connected to the entire draft must be placed before the first pick is announced. Round-specific wagers must be placed before said round begins, and pick-specific bets must be made before the selection announcement for the two picks.
Nevada: For wagers involving a specific player, must be placed 24 hours before the draft starts. Round-specific bets close before said round begins.
Gannett may earn revenue from sports betting operators for audience referrals to betting services. Sports betting operators have no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. See applicable operator site for its terms and conditions. If you or someone you know has a gambling problem, help is available. Call the National Council on Problem Gambling 24/7 at 1-800-GAMBLER. Must be 21 or older to gamble.
Follow Chris Bumbaca on Twitter @BOOMbaca.
This article originally appeared on USA TODAY: NFL draft betting rules explained: In which states can you gamble?