This football season, Cincinnati Bengals supporters once again find themselves with nothing to cheer for, a situation they know all too well.

However, come spring, the Bengals will ultimately secure a prominent position in a particular event – The NFL Draft.

Indiana will offer NFL Draft betting in 2020

Anticipation is already building among fans and analysts over Cincinnati’s top selection. The common belief is that they will choose Joe Burrow, the outstanding LSU quarterback. Given Cincinnati’s quarterback problems from the last season, it seems probable that Burrow, a Heisman Trophy winner, will be their main pick.

Bengals fans have more reasons to be excited aside from the top pick. The Indiana Gaming Commission (IGC) has approved NFL Draft betting. This means fans can not only cheer for a potential new player coming to Ohio, but they might also stand to gain financially.

Burrow the overwhelming favorite at IN sportsbooks

Even though the Draft doesn’t officially begin until April 23, numerous sportsbooks in Indiana have already begun showing odds on the draft board.

Both DraftKings and FanDuel have strong betting odds in favor of Burrow, listed at -1,250 and -1,150 respectively. The odds board also features other competitors:

• Chase Young (+500, +550)
• Tua Tagovailoa, with odds at +1600 and +1200.
• Justin Herbert (+2500, +1700)

This implies that if the Bengals decide to use their first draft pick on Burrow, the high betting odds on him may not result in a substantial return on your investment. Nonetheless, the capacity to take bets on non-sporting events such as the Draft is a significant milestone for Indiana’s rapidly growing sports betting industry.

Not only have state regulators preapproved betting action on this sports league draft, but they have also endorsed wagering on other drafts in Indiana, including:

• MLB Draft
• NBA Draft
• NHL Draft
• WNBA Draft

Other alternative betting markets in Indiana

Previously, Nevada abstained from taking bets on non-sporting events such as the NFL Draft, and amateur sports events like the Olympics were not open for betting in Las Vegas until recently. However, as more states start to regulate sports betting, authorities are beginning to investigate new betting markets.

It appears that the IGC is adopting New Jersey’s approach over Nevada’s by providing betting options in alternative markets. This includes pre-approved betting on events like the Winter and Summer Olympics as well as the Olympic trials.

Considering the variety of experimental markets, Indiana might consider initiating betting on events similar to the Academy Awards. The state’s rules allow sportsbooks to request the IGC to start bets on non-sports events, provided they meet certain specified conditions:

• The outcome can be verified.
• The outcome can be generated by a reliable and independent process.
• The result is not influenced by any bet placed.
• The event complies with all applicable laws.

Considering wagering on the 2020 presidential election? You may need to think again. A particular US federal law explicitly prohibits betting on American elections. While certain European markets, like the United Kingdom, authorize legal gambling on elections, the likelihood of the United States allowing legal bets on its forthcoming presidential contest is extremely low.