Even Without Live Sports, New Jersey Sportsbooks Crush the NFL Draft

Pointsbet New Jersey

For the first time ever, the NFL Draft was held virtually, with the main site being the basement of Commissioner Roger Goodell. For three days, he sat reading off the names of the draftees, with several draft analysts and players giving their takes and spending time with their families through ZOOM.

Sugarhouse Sportsbook’s numbers in 2020 destroyed their 2019 output figures. This online draft netted them four times as much profit, with bettors continuing to flock to put bets and wagers in. Because even though they had to do all of this virtually, they still got it done, and the sportsbook has to be happy with this monumental increase.

There was no specificity from PointsBet, but the company did say it “absolutely crushed” the numbers this year. There was plenty of intrigue surrounding the draft, and so, as a result, they were able to cash in. It helped that there was a record number of viewers for 2020 compared to all of the past years.

FanDuel mentioned that bets made before the first picks became official was on par with a “popular Thursday night game.” They’re losing out significantly right now without any real contests happening, so the draft could prove to be a huge savior to them. They compete with DraftKings throughout the year.

As always, there were some great bets and some that didn’t pan out as well. One bettor put $5,000 on CeeDee Lamb being the first wide receiver to come off the board. It’s too bad that the newly-dubbed Las Vegas Raiders don’t seem to conform to the norm, as they opted to go with Henry Ruggs III.

Hot Commodity

To almost nobody’s surprise, Tua Tagovailoa was one of the hottest betting commodities. He was always going inside of the top 10, with the only question being where he’d end up. He was the second QB off the board after the consensus No. 1, Joe Burrow.

The original odds on Tua had his selection as the second QB off the board at -115, though final payouts were done at +140. The only debate to be made here for those putting money in would have been if Justin Herbert was going to slip ahead of Tua, which did not happen.

There was also a lot of action on Oklahoma quarterback Jalen Hurts, with the opening line of him being taken in the first two rounds set at +200. There was a lot of movement, and by the second round, it had shifted to -225. He wound up being taken 53rd by the Eagles in a move not many expected.

Those who tried to cash in on Hurts slipping further were hurt (no pun intended). So the fact that he was taken where he was ended with a huge financial gain for PointsBet.

Anyone that was willing to take a significant gamble on Andrew Thomas also cashed in big. The odds of the Giants taking him at No. 4 were set at +1000, and well, the pick actually happened. It was a risk, as he was not seen as likely to go there, but he helped many cash in.

It was truly hard to predict how sportsbooks in New Jersey would perform during this new draft in which most all wagers were going to be placed online. And pretty clearly, they crushed it and brought in some massive profits. And this really makes you wonder about the NBA Draft.

That draft is usually pretty well-covered, with a few surprises each time. If the draft is held virtually, you can expect a lot of action. There is not a consensus No. 1 pick this year, and the top five looks very different in many mock drafts.

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