Nevada Sportsbooks Can’t ‘Handle’ NFL Draft Betting

Wagering on the NFL Draft in Nevada has historically presented some difficulties. Regrettably, these challenges could potentially escalate next year.

Numerous sports bettors assumed that betting on the NFL Draft would be simpler this year due to the event being held in Las Vegas. However, it’s not as straightforward as they thought.

This year, as usual, the betting options for the NFL Draft were limited. Nevertheless, Nevada’s sportsbook operators faced significant losses at the hands of savvy sports bettors who utilized available information to their advantage.

Moving forward, the number of NFL Draft betting opportunities in Nevada could potentially decrease. Some Nevada sportsbooks may not even provide NFL Draft betting options at all.

NFL Draft betting in Nevada

The Nevada Gaming Control Board mandates that all sportsbooks in Nevada cease accepting bets 24 hours prior to the event. It also restricts the quantity of proposition “props” a sportsbook can provide.

The majority of Nevada sportsbooks were, once again, only providing small NFL Draft betting menus. Furthermore, some sportsbooks only made NFL Draft available for a limited period, despite the event being held in Las Vegas.

Football fans find betting on the NFL Draft an enjoyable option. In the beginning, any opportunity to gamble on the event was eagerly accepted. The Silver State led the way in offering NFL Draft betting. Sportsbook operators and bettors readily adapted to the regulations.

NFL Draft betting is now being offered by sportsbooks in states across the country, following the repeal of the Professional and Amateur Sports Protection Act (PASPA). However, sports betting regulations vary from state to state.

Given this situation, certain sportsbooks provide a wider variety of bets for an extended period. Some markets even allow live betting on the NFL Draft.

The rules for NFL Draft betting in Nevada can be perplexing for both locals and visitors. The confusion is understandable, given that numerous national media outlets advertise different sportsbooks, each with their own unique odds and regulations.

This can be exemplified by multi-state sportsbook businesses such as BetMGM and Caesars. These firms provide diverse NFL Draft betting options in each state.

The betting menu for the NFL Draft at Nevada sportsbooks differed from those in Michigan and New Jersey, a fact unknown to many Nevada residents and tourists who visited Las Vegas for the event.

While corporations aim to provide as much as possible to boost handle, independent sportsbook operators strive to reduce exposure.

The variety of strategies are logical. However, this might result in reduced NFL Draft betting opportunities in Nevada in the following year and onwards.

Different strokes for different folks

Worldwide sportsbook operators employ various business models. The objectives of independent sportsbooks in Nevada are different from those of national corporations operating across multiple states.

Major corporate sportsbook operators have financial stability in the NFL Draft betting market nationwide. A potential loss in a smaller state such as Nevada could be counterbalanced by the income generated in other states where these companies are active.

The ultimate objective of larger corporations is to increase the amount of money bet. Over time, this increase in wagers should translate into higher profits. These large companies have the advantage of not needing to immediately demonstrate profits as they develop their sports betting business.

Independent sportsbook operators in Nevada such as South Point, along with smaller national brands like Circa and Westgate, operate under various business models. These privately run businesses prioritize immediate profit over long-term gains projected for three years down the line.

Large corporations, less worried about their present profits, contrast with smaller shops that have a different perspective. These substantial corporations also employ large teams to set odds for events like the NFL Draft and other betting options. Meanwhile, smaller businesses maintain staff sizes that align with their overall scale.

NV sportsbook operators aren’t making money from NFL Draft betting

In a typical business, a product that fails to generate profit is often discontinued. Similarly, betting on the NFL Draft in Nevada may face the same fate.

A sportsbook operator has a reason not to offer certain events if they don’t make money from taking bets on them.

Some argue that certain sportsbooks are only interested in accepting bets on events they perceive as profitable. Whether it’s sportsbooks or other businesses, they have the freedom to run their operations as they deem appropriate.

Chris Andrews, the director of South Point sportsbook, expressed to the Las Vegas Review-Journal his aversion to booking the NFL Draft. Regarding the event, he stated:

“I displayed it since it’s locally available. There’s a chance it may not be showcased next year. The NFL Draft has never been a profitable event for South Point.”

Andrews states that South Point has “lost on it every year” in relation to the NFL Draft.

This isn’t only an issue at South Point. Jay Kornegay, the vice president of SuperBook, also isn’t keen on booking the NFL Draft.

Chris Bennett, an oddsmaker from Circa, possibly gave the most fitting comment on the subject from a bookmaker’s perspective, saying, “My top rule in bookmaking is to not get killed, and this rule is most applicable to the NFL draft.”

These sportsbook operators are all focused on turning profits in the present, not the future. It wouldn’t be shocking to see a further reduction in NFL Draft betting options next year.

Hearing it might not be enjoyable, but for businesses aiming to make a profit, it’s logical to eliminate offerings that aren’t profitable.

NFL Draft betting is not only a Nevada problem

Not just Nevada sportsbooks face issues with NFL Draft betting. Savvy sports bettors will typically shop around to find the most favorable odds. This is a pretty standard tactic for seasoned sports bettors.

An issue arose for a sports bettor in Colorado who was placing NFL Draft bets at the Barstool sportsbook within Ameristar Casino. The severity of this specific NFL Draft betting issue has prompted an investigation by the Colorado Division of Gaming.

According to PlayColorado:

On Friday, the state agency announced that it is looking into allegations made by James Salinas that the Ameristar Casino’s Barstool Sportsbook in Black Hawk altered its betting limits and odds while he was trying to place two NFL Draft bets earlier this month.

During an interview on the Vegas Sports and Information Network (VSiN), the issue was brought to attention.

It’s not uncommon for some sportsbook operators to refuse a bet or limit its size. However, altering the odds after agreeing to accept a bet at a lower limit is a completely different matter.

This incident may signify a broader issue with this sportsbook operator. It also illustrates the challenges faced by sportsbook operators nationwide in accepting bets on the NFL Draft.

We will receive more information about this particular incident in the future.

In terms of betting on the NFL Draft, it’s worth noting that there are certain sportsbook operators who are either unwilling or unsure of how to handle wagers on the event. While bettors seek an enjoyable gamble, some businesses need to focus on their profit margins, and may deem the time and effort required as not being worth it.

It wouldn’t be shocking if Nevada sportsbooks provide even less NFL Draft betting options in 2025.