Category Archives: Sports Betting

The startup scene surrounding sports betting exploded in recent years as new regulation in the US helped turn online gambling into big business.

During 2021, PitchBook tracked in late December 44 venture-capital deals totaling $700 million in US sports betting, up from 32 deals worth less than $200 million the year before.

But the rocky economy is bringing the once-frothy startup landscape back down to earth.

Sports-betting startups aren't immune to the trends that are driving down valuations for late-stage tech startups and leading to layoffs in the creator economy.

Venture capitalists, across the board, are getting more cautious as public-market valuations plummet and inflation rises. As such, sports-betting founders and investors are being forced to recalibrate their valuations when raising money.

"The one thing that is broadly shared is a reality that valuation expectations have to be interrogated," said Chris Grove, cofounder and general partner at Acies Investments.

It's also getting harder for startups, particularly those with unproven founders and high burn rates, to raise capital.

"It's a very had time to raise money as an inexperienced founder without traction and some semblance of product market fit," said Lloyd Danzig of Sharp Alpha Advisors, which invests in sports-betting startups. "But it is a great time if you are a profitable, cash-flow-producing company with great investors on board that are enthusiastic about your management team."

Still, the hottest startups on the scene are seeing outsized demand, as Danzig pointed out.

For instance, Jackpot, a UK-based online lottery ticket company, closed this week a $35 million Series A funding round that will help the company expand into the US.

Some companies are seeing so much demand that their founders are rethinking the size of their funding rounds and the amount of ownership control they're willing to give up even as other startups scramble to raise cash for fear that the well will soon dry up.

One reason many sports-betting startups aren't yet panicking, like some in other sectors are, is that the public online-gambling companies like DraftKings and Penn National Gaming haven't yet been as impacted by inflation as other businesses, like tech and media companies, that rely heavily on advertising. And investors' longterm views on the industry remain largely steady, as sports betting continues to expand into more states and reach new audiences.

"Gambling startups are definitely facing a challenging funding environment," said Grove at Acies Investments, who is also the cofounder and CEO of American Affiliate."The thing that is likely helping to protect online-gambling startups from maximum pain is the fact that the broader industry still has a very clear growth trajectory, and frankly has very clear sets of needs and wants that are unlikely to be fulfilled by the current roster of operators and suppliers."

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How sports-betting startups have been impacted by economic downturn - Business Insider

Fans are still waiting for any type of a sign that Florida sports betting will return to the Sunshine State. Florida mobile sports betting briefly launched in November 2021 through a compact between the state and the Seminole Tribe, but the Seminoles quickly back-peddled and raised concerns over Florida sports books violating the country's Indian Gaming Regulatory Act. Seminole-run in-person casino gambling, such as card games and slot machines, and pari-mutuel horse racing are still legal forms of gambling in Florida, but sports betting in Florida remains frozen until legal proceedings have concluded. A push to get a measure about Florida online sports books on the November 2022 ballot also failed, but some experts still believe legal Florida sports betting will return to the state.

When that happens, Florida sports fans will be able to use Florida sports book sign-up offers and Florida sports book promo codes once again as they wager on their favorite sports and teams. If you need a refresher on Florida online sports betting terminology in the meantime, here is a sports betting glossary from our friends at SportsLine.

If Florida online sports betting returns, there are multiple ways sports fans in the Sunshine State can wager on their favorite sports teams and leagues. Here are some examples:

Live betting: Florida online sportsbooks could let you wager on your favorite sports in real-time thanks to in-game odds updates. During the baseball season, online sportsbooks in Florida could let you wager on live-updated totals or even the outcome of the next at-bat. With both Miami and Tampa Bay playing competitive baseball, there could be an opportunity for Florida sports fans to place exciting live bets on the home teams.

Parlay: Parlays are popular because they offer sports bettors a chance to win big with a minimal investment, and they are exciting because the risk is higher. Parlays involve the selection of two or more propositions on a single wager, and all of the teams must win for the bet to become a winner. For example, if you pick five pro baseball teams on a parlay, then all five teams have to win for the bet to be a winner.

Teaser: This method pays lower odds than a parlay, but remains popular because handicappers still find them profitable. Teasers are a variation of point-spread betting in which they allow the bettor to increase the point value of their selected team. For example, let's say both of Florida's football teams are seven-point favorites and you think they will win their games but you are unsure if they will cover the spread. Using a six-point teaser will drop each team to a one-point favorite, meaning they only need to win by two points for your bet to be good.

If you're looking for the best values on the board in Florida or elsewhere, be sure to check out SportsLine, which specializes in Vegas picks, DFS advice and season-long fantasy sports projections.

An industry leader, SportsLine.com provides advanced computer modeling, expert picks, news and analysis of all the biggest events in sports. It can help you identify in which games you'll have the biggest statistical advantage. Plus, you'll get access to a team of over 40 experts.

SportsLine provides betting advice across the four major professional sports, college sports, golf, tennis, soccer, combat sports, horse racing, auto racing and more. It's a proven resource to sports bettors around the world. You can sign up here to enjoy all of the sports betting and fantasy sports advice that SportsLine has to offer. Then, use your knowledge to crush Florida online sports betting when it becomes legal again.

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Sports betting in Florida: Has it been legalized, how to bet online, where to get picks, new promos - CBS Sports

A round robin bet allows you to create a series of smaller parlays from a larger list of teams or players.

Maybe youve seen a round robin as an option at your sportsbook, but have never dipped your toes into the forbidden waters.

Well, youre about to go on a wild ride.

Click the links to jump to each section.

A round robin in sports betting is really just a series of smaller parlays created from a larger list of bets.

A round robin gets its name from a round robin tournament, in which every team plays every other team in its group. The idea is the same. Instead of playing each other, the teams form parlays together.

When you select multiple games to bet, your sportsbook will give you the option to create a series of smaller parlays made up of your selected games.

The more games you pick, the more parlay combinations you can create thousands if you pick enough teams.

Every book will display round robin options a little differently, like FanDuel:

And heres one from DraftKings:

If you pick three teams, the books software will automatically create three different two-team parlays.

If you pick five teams, you can create:

Theres an endless numbers of round robins you can create when you keep adding teams. An 11-team round robin has 2,036 parlay combinations.

The simplest round robin is choosing three teams to create three separate two-team parlays.

Say you like these three games on an NFL Sunday:

And you to decide to risk $10 on each parlay combination, giving you three parlays for a $30 total investment

Round robins can be deceptive. They get expensive the more teams you put in.

For most bettors, picking five teams and betting half your wager on 10 two-team parlays and 10 three-team parlays is a good option for a big college football slate, or something like it.

Often, round robins are bad bets.

Rarely can you take a 2-1 effort betting NFL point spreads and turn it into a losing or break-even day, but a round robin can do that.

Round robins can also get very expensive if you want to put $5 on a six-team round robin, using two-team and three-team parlays, youre already at 35 parlays ($175 total). If you also want to bet the four- and five-team parlays off a list of six teams, youre at $280.

You dont have to bet $5 on each parlay you can do $1, $2, whatever you want but then your payouts will be smaller, of course.

Ive always found the most effective and interesting way to utilize round robins is when spraying underdogs on the moneyline.

Theyre not all going to win, but by tying the combinations together, you increase your likelihood of hitting a few of the parlays and getting those sweet multipliers. Youre diversifying your risk a bit.

Theres more variance in college football, so most Saturdays, Ill pick anywhere from 5-8 underdogs I think can win outright and throw them in a series of round robins.

Heres an example from Week 11 of the 2019 college football season.

I can pick many different combinations with six bets selected:

I put $5 on each of the 20 three-team parlays, and $5 on each of the 15 two-teamers.

Thats $175 total invested.

Three teams won, so I won four total parlays three two-teamers, and one three-teamer and ended up netting $136.34.

If Hawaii hadnt made a field goal as time expired to squash San Jose State, 10 of the parlays would have cashed six two-team parlays, and four three-team parlays. That would have resulted in a $989.68 payday ($1,014.68 in profit, minus $125 for the lost parlays).

Thats why round robins in this way can be fun and effective youre creating upside for yourself but theyre also an easy way to lose money fast if youre not careful.

Some sportsbooks will list round robin options with nicknames, which are borrowed from horse racing.

A Trixie is four total bets:

At DraftKings, its listed with 4x next to it because youre making four bets.

A Patent is the same thing as a Trixie, but you also get your three bets as single wagers. A Patent is listed with 7x next to it because its seven total bets.

Some sportsbooks will give you the option to make a

So what are these? Theyre essentially every round robin combination, wrapped into one.

When you select five games for a round robin, you can make 26 different parlays 10 2-teamers, 10 3-teamers, five 4-teamers and one 5-teamer. Thats a Canadian.

When you select six teams, you have 57 parlay options. Thats a Heinz.

You also have the option to add single bets to all the parlays (like a Trixie turning into a Patent). Thats when a Canadian becomes a Lucky 31, or a Heinz becomes a Lucky 63.

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Round Robin in Sports Betting: Definition, Examples, How To Bet

Since being launched in May 2019, Pennsylvania sports betting has become one of the biggest markets in the entire country. Pennsylvania has brought in over $14 billion in betting handle since being legalized, the third largest haul behind only Nevada and New Jersey. It's probably no surprise Pennsylvania mobile sports betting is so popular since sports fans in the Keystone State are so passionate about their sports teams. There is plenty to wager on this time of year with pro baseball in full swing and elite golf tournaments happening almost every week. With title fights and car races also in season right now, fans are taking advantage of special deals at Pennsylvania sports books like Pennsylvania sportsbook promo codes and unique deposit bonuses.

If you are a first-time bettor at Pennsylvania online sportsbooks, learning all the best betting terms can be a little overwhelming. Here is a helpful guide to get you started so you can wager like a pro.

Here are several ways you can bet on sports in Pennsylvania from our friends at SportsLine:

Outright: This is a popular kind of bet because it is easy to place and doesn't involve multiple sides or handicapped points. With an outright bet, the bettor simply picks which athlete will win an entire event. This is a very popular betting method for sports like pro golf where single athletes compete against one another. Outright betting can also be used for title fights and car races, which are in full force during the summer.

Prop bet: Want to bet on something other than the outcome of a game or event? A prop bet is a wager on a given outcome within a game or match other than the final score. For example, a prop bet in a pro baseball game can be on whether a big hitter for Philadelphia gets a home run or whether a player on a hot streak gets an RBI. Prop bets can even be placed on the number of strikeouts a pitcher for Pittsburgh will have in his outing.

Futures: Looking ahead to the next football season? Place a futures bet, which is when you wager on a sporting event or season well in the future. The pro football schedule has been released for next season, so football futures are about to be very popular. Now is the perfect time to check out when rival teams will be in town to take on Philadelphia or Pittsburgh and place your football futures bet.

If you're looking for the best values on the board in Pennsylvania or elsewhere, be sure to check out SportsLine.com, which specializes in Vegas picks, DFS advice and season-long Fantasy sports projections.

An industry leader, SportsLine.com provides advanced computer modeling, expert picks, news and analysis of all the biggest events in sports. It can help you identify in which games you'll have the biggest statistical advantage. Plus, you'll get access to a team of over 40 experts.

SportsLine provides betting advice across the four major professional sports, college sports, golf, tennis, soccer, combat sports, horse racing and auto racing. It's a proven resource to sports bettors around the world. You can sign up here to enjoy all of the sports betting and Fantasy sports advice that SportsLine has to offer.

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Sports betting in Pennsylvania: Promo codes, new promotions, legal apps, how to bet online in PA - CBS Sports

Fans might not have to wait much longer for Texas sports betting to become a reality. Efforts to legalize Texas mobile sports betting were shut down in 2021, but some experts believe Texas sports books could be legalized as soon as 2023. There is even one candidate for governor who said he will back online sports betting in Texas if he is elected. Texas would become the largest state with legal online sportsbooks, and they are sure to be very popular because of how much Texans love their sports teams. If Texas online sports betting gets the green light, fans all over the Lone Star State will be able to take advantage of many Texas sports book bonus offers and online Texas sports book promo codes.

Before Texas online sportsbooks get the go-ahead, new bettors should be familiar with common online sportsbook terminology. Here is a guide to sports betting terms from our friends at SportsLine that will help you get ready in case Texas online sportsbooks become a reality.

There are several ways you can make sports wagers both online and in retail sportsbooks and plenty of bet types you'll want to familiarize yourself with.

Live betting: Texas sports fans could be able to wager on their favorite sports in real-time thanks to live, in-game odds updates. With pro baseball season in full swing, online sportsbooks let fans wager on live-updated totals or even the outcome of the next at-bat. Texas has two very competitive baseball teams, so live betting could be popular with fans in the Lone Star State.

Outright: This is a popular kind of bet because it is easy to place and doesn't involve multiple sides or handicapped points. With an outright bet, the bettor picks which athlete will win an entire event. This is a very popular betting method for sports like pro golf where single athletes compete against one another. Outright betting can also be used for title fights or for car races.

Prop bet: Want to bet on something other than the outcome of a game? A prop bet is a wager on a given outcome within a game or match other than the final score. For example, a prop bet in a pro baseball game can be on whether a big hitter gets a home run, or whether a player on a hot streak gets an RBI. Prop bets can even be placed on the number of strikeouts a pitcher will have in his outing.

If you're looking for the best values on the board in Texas or elsewhere, be sure to check out SportsLine, which specializes in Vegas picks, DFS advice and season-long fantasy sports projections.

An industry leader, SportsLine.com provides advanced computer modeling, expert picks, news and analysis of all the biggest events in sports. It can help you identify in which games you'll have the biggest statistical advantage. Plus, you'll get access to a team of over 40 experts.

SportsLine provides betting advice across the four major professional sports, college sports, golf, tennis, soccer, combat sports, horse racing, auto racing and more. It's a proven resource to sports bettors around the world. You can sign up here to enjoy all of the sports betting and fantasy sports advice that SportsLine has to offer. Then, use your knowledge to crush Texas online sports betting when it's a reality.

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Sports betting in Texas: When it will be legalized, how to bet online, where to find picks, unique promos - CBS Sports

Happy Monday, everyone. While the sports calendar is hitting its slowest point of the year, there is still plenty of sports betting news with eyes on states like Ohio and Massachusetts.

The LSR Podcast had plenty of hot topics for its most recent episode including DraftKings CEO Jason Robins still talking about limiting sharps, and insider trading allegations surrounding the Penn National-Score Media merger.

As always, there are multiple ways to get updates from LSR throughout the week. Follow LSR on Twitter @LSPReport and tune into NewsWire on SportsGrid Monday-Friday at 2:25 pm Eastern for a recap of the days biggest stories.

There were no significant updates to share out of the conference committee negotiating a Massachusetts sports betting bill, Chairman Jerry Parisella told LSR Monday.

Only update is that we are still working out the differences and hopeful to get a bill to the floor before the end of the session, Parisella said.

The two sides have until the end of the formal session on July 31 to get a bill passed. Tax rates, college betting, total licenses and a proposed advertising ban are key issues that need to be resolved.

Watch out for May revenue reports from New Hampshire and Rhode Island, both of which should be out this week, for some positive impact out of Massachusetts.

With 14 states reporting, May handle is down from April around 12% on average. That is not a surprise, of course, as spring is the typically the beginning of the sports betting slowdown that continues until NFL betting picks back up.

Connecticut sportsbooks are bucking that trend, though, with handle down just 1.1% from April. The reason for that seems simple: Massachusetts residents had to travel to bet on the Boston Celtics in the NBA Playoffs.

Considering the Celtics made the NBA Finals, the June reports for those three states should show a positive bump as well.

The application period for Ohio sports betting is now live, though there are still more than six months to go before the first legal bet is accepted Jan. 1.

BetMGM and PointsBet were the only two US sports betting operators to submit applications during the first week after the period opened June 15. Both applied for mobile licenses, while BetMGM also applied for a retail license.

The Ohio Casino Control Commission will update the list of applicants every Friday.

Gov. Larry Hogan demanded the Sports Wagering Application Review Commission speed up the launch of mobile sports betting in Maryland last Wednesday. Hogan wants mobile betting live by Sept. 8 for NFL betting.

The SWARC, which met the following day, did not immediately jump into action though. While Chairman Thomas Brandt acknowledged that many are frustrated, there was still no definitive timeline given at the meeting.

Retail betting launched in December at five casinos but a mobile launch could stretch into 2023.

Only 19%of bettors using offshore sites in regulated states know they are betting with unlicensed operators, a new survey from the Fantasy Sports & Gaming Association found.

The percentage of bettors exclusively using offshore sites is 24% in states with legal online betting, the survey found. There has also been very little cannibalization for daily fantasy sports. Just 2% of sports bettors that played fantasy first are no longer playing fantasy games.

African Americans in Gaming is now a strategic partner of SBC, which provides the organization a platform to share insights on how to make gaming more diverse.

There will be an African Americans in Gaming networking session during SBC Summit North America 2022, which runs from July 12-14 in New Jersey.

DraftKings took a big step in its responsible gambling offerings last week through its partnership with BetBlocker.

BetBlocker is a not-for-profit operation that lets gamblers set restrictions on their gambling across multiple devices. The program blocks both regulated and offshore websites, and allows a wide range of customization in terms of limiting bets.

Tally Technologies, which has a free-to-play prediction game, closed an oversubscribed $4 million funding round in early June.

The funding was led by sports betting and gaming investor Acies Investments. The funds will be used to expand operations, add more game types and invest in its data platform.

Tally recorded more than 20 million predictions from unique users over the past four years. Fan engagement partners include teams from the NBA, NFL, NHL and other professional sports organizations.

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The Week In Sports Betting News: Ohio Takes Next Step; Will MA Pass? - Legal Sports Report

The US sports-betting boom has given rise to a robust startup community that's innovating on everything from the bets gamblers can place in a game to the way they cash out their winnings.

Companies like the fantasy-sports platform Underdog Fantasy, microbetting startup Simplebet, and gaming platform Players' Lounge have scored splashy investments from the likes of entrepreneur and Dallas Mavericks owner Mark Cuban, influencer and boxer Jake Paul, and rapper Drake, respectively. Other prominent VCs have backed"picks-and-shovel companies" that supply the technology and infrastructure underpinning the betting experience.

In 2021, Pitchbook tracked 44 venture-capital deals totaling $700 million in US sports betting as of late December. That was up from 32 deals worth less than $200 million the year before.

Insider spent six months compiling and analyzing information on companies in the US sports-betting ecosystem to build a database of startups in the industry.

Of course, it's much more challenging to be a startup today than it was even six months ago.

Venture capitalists are getting more cautious as public-market valuations plummet and inflation rises. Layoffs have also started to spread across early-stage tech and media companies, from the creator startup Cameo to the media brand Wave Sports + Entertainment.

In sports betting, it's getting harder for startups with unproven founders and high burn rates to raise money, and valuations are being recalibrated, two industry investors told Insider.

That said, the public online-gambling companies like DraftKings and Penn National Gaming have not yet been as impacted by inflation as other businesses, like tech and media companies, that rely heavily on advertising. And investors haven't shaken their longterm prospects for the industry, as sports betting continues to expand into more states and reach new audiences.

"Gambling startups are definitely facing a challenging funding environment," said Chris Grove, an angel investor and cofounder and CEO of American Affiliate. "The thing that is likely helping to protect online-gambling startups from maximum pain is the fact that the broader industry still has a very clear growth trajectory, and frankly has very clear sets of needs and wants that are unlikely to be fulfilled by the current roster of operators and suppliers."

The result is outsized demand for the hottest startups on the scene, to the point where founders are rethinking the size of their funding rounds and the amount of ownership control they're willing to give up. Others are trying to raise as much money as they can to give themselves a buffer amid the economic uncertainty.

"It's a very had time to raise money as an inexperienced founder without traction and some semblance of product market fit," said Lloyd Danzig of Sharp Alpha Advisors, which invests in early-stage sports betting companies. "But it is a great time if you are a profitable, cash-flow-producing company with great investors on board that are enthusiastic about your management team."

Some investment firms are funneling even more resources into their portfolio companies. The Toronto-based firm Cardinal Sports Capital partnered in April with New York's Hot Paper Lantern Digital Sports on a $100 million accelerator program designed to help startups make the connections needed to raise more capital and build their brands, marketing strategies, and more.

The startup landscape surrounding sports betting is vast. Insider organized its database in six categories including:

We received recommendations for dozens of startups to consider from angel investors, venture capitalists, industry consultants, and other experts. Many of the companies provided Insider with details on their businesses, such as total funding raised, key investors, and number of employees. And Pitchbook shared with Insider a list of startups in the US online-gambling and sports-betting space that had raised the most venture capital money through the end of 2021.

Insider winnowed the database down to about 50 companies that had raised at least $1 million and demonstrated a focus on the US sports-betting landscape. We strove to include a range of businesses, including various sports betting, fantasy sports, and online gaming platforms; the picks-and-shovel data, tech, and other suppliers; and other businesses working closely with the industry such as media brands and affiliate partners.

The information in the database was largely provided by the companies, and checked against Pitchbook and media reports. The handful of estimates in the database were derived from Pitchbook.

Note: Insider will update this database periodically. Email arodriguez@insider.com to submit updated information.

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US Sports Betting Startups: 55 of the Biggest Innovators - Business Insider

The PGA Tour says it "continues to look for opportunities to innovate in new areas with a goal of engaging with fans."

Last Updated: Jun 21, 2022 5:42 PM ET Read Time: 2 min

The PGA TOUR and bet365 announced on Tuesday a tie-up that will see the online sportsbook become the professional golf organizations first official betting operator outside of North America.

By becoming the PGA TOURs first such partner, bet365 will focus on the Australian, British, and Irish betting markets, with the operator allowed to advertise through PGA TOUR media and PGA TOUR partners, and to use PGA TOUR marks.

Bet365 will also serve as the exclusive odds provider on the tours website in those regions outside the U.S. The partnership extends through 2024.

The bet365 group are delighted to be working with one of the most iconic brands in global sport, a spokesperson said in a press release. Throughout this partnership with PGA TOUR, bet365 will strive to continue delivering a market leading in-play experience to our golf customers, both across our global sites and the PGA TOUR platforms.

For the PGA TOUR, the deal could help to grow the game in those markets outside of North America through the allure of online sports betting. And using bet365 gives the PGA a partner that is one of the largest sports betting companies in the world, with more than 30 million customers.

"We are excited to work with bet365 to expand the TOURs sports betting initiatives outside of North America," said Scott Warfield, vice president of gaming at the PGA TOUR, in the release. The TOUR continues to look for opportunities to innovate in new areas with a goal of engaging with fans.

This isnt bet365s first foray into the world of golf, as it was the first operator to integrate the TOURs official live betting product. The IMG ARENA Golf Event Centre product is a golf-focused, front-end betting solution that is used by bet365 and created in association with the worlds leading golf tours.

But bet365 is not the only online sportsbook that is deepening its ties with the game of golf.

FanDuel Group, for instance, announced last week that it would run a new television commercial featuring professional golfers Abraham Ancer, Will Zalatoris, Harold Varner III, and Jordan Spieth, who is already partnered with the operator.

Thats in addition to a content-and-marketing relationship between FanDuel and the PGA TOUR that makes the company an official betting operator of the organization as well.

"Golf continues to be one of the fastest-growing sports on our platform and, as we greatly value our partnership with the PGA TOUR, we are excited to grow our PGA TOUR program," said Mike Raffensperger, chief marketing officer of FanDuel, in a press release. "Jordan has already been a fantastic partner and we look forward to expanding our golf ambassador roster with the addition of Abe Ancer, Will Zalatoris, and Harold Varner III."

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Sports-Betting Giant bet365 and PGA TOUR Announce Multi-Year Partnership - Covers

The 76th NBA Draft will take place on Thursday at the home of the Brooklyn Nets at the Barclays Center in Brooklyn, New York, with some elite young talent ready to make the leap to the highest level of professional basketball.

19-year-old Jabari Smith from the Auburn Tigers opens as the outright favourite to be selected by the Orlando Magic with the number one overall pick in this years draft, followed by Chet Holmgren, favourite to be selected by the Oklahoma City Thunder, and Paolo Banchero in third who is expected to join the Houston Rockets.

Jaden Ivey and Shaedon Sharpe are both next at 100/1 but Sharpe, a former Kentucky Wildcat, hasnt played competitively since his senior year of high school in Glendale, Arizona, and is a high-risk prospect.

Dukes AJ Griffin joins the party at 250/1, who is a New York native that could be selected by his very own Knicks to join the likes of Julius Randle, Evan Fournier, and Immanuel Quickley.

Which of these young talents will be selected by Floridas Orlando Magic, who own the first overall pick and can add to their growing roster featuring the likes of Markelle Fultz, Jonathan Isaac, Cole Anthony, and Franz Wagner?

BetOnline have an extensive sportsbook for new customers to use, with various different markets across almost every sport you can think of.

BetOnline has some fantastic odds to claim on one of the basketball calendars biggest dates whether youd like to back Auburns Jabari Smith to be drafted first overall or Gonzagas big man Chet Holmgren, use our guide listed above to sign up to BetOnline.

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BetUS have an extensive sportsbook for new customers to make use of, with an array of markets across various different sports.

Ready for this weekends action, BetUS have some fantastic prices for the NBA Draft, so keep an eye out for the looming free agency window which is set to open shortly there is a strong likelihood we will see an array of trades on draft night, so use our guide listed above to sign up to BetUS. Will Bradley Beal make the switch to Boston and join St. Louis native and NBA finalist Jayson Tatum?

To claim up to $2,500 in free bets for NBA Draft 2022, click the button below.

MyBookie has one of the best Sportsbooks out there, with thousands of markets to choose from and the welcome bonus afford customers to explore these endlessly.

If you have an inkling as to who will be selected first overall by the Orlando Magic in this years draft, then follow the steps above to get set up with MyBookie.

Cash in on the MyBookie NBA Draft betting offer by clicking the button below.

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How to Bet on The NBA Draft 2022 | Florida Sports Betting Guide - Basketball Insiders

Betting on the NBA draft has, in recent years, emerged as a popular angle to the hours long event, that lets face it traditionally hasnt been too interesting after the first couple of big names fall.

But while fans from around the country will be able to place bets on their teams first pick, where their favorite college college player will go, etc. , those attending the 2022 NBA Draft at Barclays Center in Brooklyn Thursday wont.

Thats because New York is among six legal betting states with mobile betting Connecticut, Iowa, Mississippi, Pennsylvania, Virginia plus the District of Columbia that doesnt count the NBA Draft as a sporting event. (If you add in non-mobile states that list grows to eight with North Carolina and Washington.)

New York, which amended its law in 2021 to include online wagering, defines an eligible sports betting event as an event at which two or more persons participate in sports or athletic events and receive compensation in excess of actual expenses for their participation in such event.

That definition also prevents legal betting on future award winners like the 2023 MVP or Defensive Player of the Year. If you open up the NBA tab in any of New Yorks eight up-and-running mobile apps, the only options youll see are for champion and conference winners.

Theres room for that to change, though itll require a new law.

Earlier this year, State Sen. Joseph Addabbo Jr. told Action Network its something hes considering as he looks to expand sports betting in the future.

Lawmakers wont meet again until next year, but this past session they explored a number of betting expansions thatll likely re-emerge after New York has a full year of online gaming under its belt. Those included, more online sportsbooks, a lower tax rate,fixed mobile odds on horse races, as well as kiosk betting at stadiums.

Someday draft attendees may be able to bet on who goes No. 1 on the same concourse they buy a hotdog from, but for now theyll have to wait.

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Why Cant I Bet on the NBA Draft in My State? - The Action Network