See 2015 NFL Draft Prop Bets by Sportsbook
NFL 2014 may be four months away but it is never too early to start wagering on pigskins. The 2014 NFL draft takes place this Thursday May 8 and online sportsbooks have served up NFL draft props. Sportsbook Review.com takes a look at some of the most popular draft proposition markets in this article, as well as highlights the importance of line shopping.
Number of NFL Draft Props by Sportsbook
*As of the afternoon of May 8, 2014*
Bovada: 14 NFL draft betting markets
WillHill: 10 NFL draft betting markets
Bet365: 6 NFL draft betting markets
5Dimes: 5 NFL draft betting markets
Ladbrokes: 1 NFL draft betting market
The NFL draft begins at 8PM ET on Thursday May 8. The second and third rounds will take place at 7PM ET on Friday May 9, with rounds four through seven taking place at 12PM ET on Saturday May 10.
Online sportsbooks are spreading the following types of markets for NFL draft wagering:
This market consists of multiple possible outcomes. The price of each leg must be weighed against the probability or change that side has of cashing. For example, if an outcome that you believe happens 20% of the time is priced with odds that reflect this side winning only 10%, you might be inclined to take a position on this bet.
A standard or two-way market has two possible outcomes. These markets are more popular among average or recreational NFL sports bettors.
Importance of line shopping
Let's pretend you are interested in purchasing a digital camera. Best Buy might offer the camera with the exact specifications you are looking for but cost $100 more than the one at PC Richards & Sons. Which camera will you buy? How much money will you have saved in the long run if you intend to buy multiple cameras (or other devices) from the same store at the steeper price? This is how one must approach sports betting. Simply firing in bets without bothering to shop for the best available price will take money out of your bankroll and thus your pocket both in the short and long-term.
A practical example: As of this publication, Ladbrokes is offering +500 on the Denver Broncos to win the Super Bowl. This means a $100 wager pays $500. Pretty good, right? Actually if you placed this same $100 bet at Bet365, your wager would pay $600 - a $100 more. But wait, if you placed the same $100 wager at Bovada, your wager would pay $700 - a full $200 more than Bet365. It may seem challenging to keep up with all the changing prices without having the same number of monitors as an air traffic controller, but that's where the Sportsbook Review Super Bowl Props Betting directory comes in. The current market price of all 32 teams to win Super Bowl XLIX as well as the conference odds update in real time in an easy to follow grid format.
NFL Draft Propositions & Michael Sam
Each NFL sportsbook words their draft props differently. It is unusual for a market this exotic to be fully standarized, but some common props are available. For example, one sportsbook might offer a market asking how many offensive players will be drafted in round 1, but another only offers a market on how many offensive players are selected in relation to a defensive team. As these props must be measured independently from one another, players must pay as much attention to the wording of the prop as the price of the wager.
Michael Sam is the first openly gay NFL draft candidate and potentially the first openly gay active NFL player in the league history.
Michael Sam draft position:
Over 125½ -250 (Best line: Bovada)
Under 125½ +215 (Best line: 5Dimes)
Depending on when you believe Michael Sam will be drafted, you should consider multiple sportsbooks. If you believe Michael Sam's name will not be called until at least pick number 126, you should wager at Bovada who have the market priced at -250 (a $250 wager pays $100). However, Bovada pays +170 ($100 pays $170) on the reverse side, while 5Dimes offers +215 on this side - which pays $55 more per $100 risked.
Monitoring the Futures Prices before & after NFL draft
While it may be unlikely that a team like the Denver Broncos shoot up or down in value based on the strength of their draft, a wise play would be to pay attention to the teams with early positioning in the draft, as well as those teams which trade to acquire valuable players. For example if a team that you have projected to win around eight games has a steller draft, their likelihood of winning their respective division increases, and in turn the betting odds on this team become shorter. This may cause a ripple in their Super Bowl and Conference odds, so beating your sportsbook to the market when possible can pay dividends in the long run.
Sportsbook Review aims to simplify your shopping experience. Make sure to bookmark the NFL Super Bowl Props & Futures betting directory to get the best bang for your buck all season long!