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The NFL Draft has begun, and for sportsbooks, it’s another year of inevitable losses. Industry veterans describe the event as a ‘necessary evil’, a high-effort, low-reward proposition that guarantees financial pain. With the draft in full swing, bookmakers approach it with a mix of resignation and frustration, knowing they have ‘zero chance to win,’ according to Jeff Benson, Director of Operations at Circa Sports.
‘Bookmakers hate the draft,’ Benson says. ‘It’s tons of work for no gain, and we have zero chance to win. We torch five to six figures a year on it.’ The core issue? In an era of instant information, sportsbooks can’t compete with sharp bettors who act on breaking news faster than the books can adjust.
Thomas Gable, Director of Borgata Sportsbook, puts it plainly: ‘Dealing with any draft market, it’s not a matter of whether you win or lose—it’s just a question of how much you lose. The sharper customers are going to beat you to information.’ Unlike traditional sports betting, where factors like team strength and home-field advantage matter, the draft is purely an information-driven market. As Ben Fawkes explains, ‘Once credible information comes out—like a tweet from ESPN’s Adam Schefter—the market moves in seconds. There’s no money back on the other side.’
Johnny Avello, Director of DraftKings Sportsbook, echoes this sentiment: ‘The draft has never been an easy proposition to book because it doesn’t rely on power ratings. It’s all about information.’
To protect their bottom line, sportsbooks have adopted stricter measures: delaying market openings, lowering bet limits, and reducing the variety of wagers available. Matt Freedman, a professional draft bettor since 2018, notes the impact: ‘In 2021, I had over 300 bets. But after the books took massive hits in 2020 and 2021, they clamped down. Now, the markets are far more restricted, and it’s much harder for pros to profit.’
Ed Salmons, Vice President of Risk at Westgate Las Vegas SuperBook, has long resisted the draft: ‘I don’t like the draft, but it’s just something we do. You have no control over it. There’s no control—it’s not like a game where mistakes happen. It’s pure information warfare.’
Despite the losses, sportsbooks will continue offering draft markets—because, as Benson admits, ‘it’s what the customers demand.’ For now, the books are resigned to their fate: another year of bleeding money on an event they can’t win.
