There is no doubt that the NFL remains the biggest legal sports betting draw in the country. With more than 30 states plus the District of Columbia offering legal sports betting in some form, the NFL will always command the lion’s share of the betting handle.
To prove this point, the NFL’s annual draft for college players has grown to become a major offseason betting event. Even with the NBA and NHL playoffs on the board and a new MLB season underway, legal sportsbooks all across the US are gearing up for the 2022 NFL Draft at the end of April.Jump to
Betting On the Annual NFL Draft
Betting on point spreads and total lines for NFL games during the regular season generates most of the betting handle. An offseason event such as the draft is tied to a grocery list of proposition or ‘prop bet’ options.
Since sports betting in every legal US market is regulated at the state level, rules and requirements for betting on props may differ. The one aspect of betting on the draft that is clear across the board is the overall attraction it draws from both NFL fans and bettors alike.
One very popular prop bet option is the OVER/UNDER on a particular college player’s draft position. Bettors can also wager on player positions such as how many quarterbacks will be drafted in the first round.
Oddsmakers at legal sportsbook operators are only limited by their imaginations when it comes to creating prop bet options. Yet, the actual betting options released must still adhere to each state’s rules and regulations.
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Tennessee Regulators Weigh-in on the 2022 NFL Draft
Case in point is the state of Tennessee. Gaming regulators in the Volunteer State have recently released a set of wagering rules for Tennessee online sportsbook operators.
This year’s draft will take place in Las Vegas from Thursday April 28 through Saturday, April 30. The majority of the betting action will focus on Thursday night’s 32 draft picks in the first round. The second and third round will take place on Friday night. Rounds four through seven are held on Saturday.
A few of Tennessee’s posted rules specific to betting on the NFL’s draft include:
- All pre-draft wagers must be placed prior to the first overall selection.
- In-state bettors can only place live wagers on props covering the first three rounds.
- All live wagers on the draft must be placed two selections ahead of an actual pick.
- Prop bet options tied to a specific round must be placed before that round gets underway.
These rules are rather broad based and they do give in-state operators quite a bit of leeway in their overall prop bet options. The fact that live wagers can be placed during the first three rounds is a major plus.
The Jacksonville Jaguars will be the first NFL team “on the clock” in the opening round. Speculation of which player will be the first overall pick points to former Michigan defensive end Aiden Hutchinson as the clear favorite.