Inside the sportsbook: What are people betting with MLB, NBA on hold?
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As the world waits with bated breath for news on which major sports will return first, sportsbooks are continuing to keep bettors busy with an array of secondary markets, ranging from Korean baseball to table tennis and everything in between.
We caught up with Jay Rood, Bet.Works' chief risk officer and theScore Bet's head trader, to discuss what people are betting, how the early NFL market is shaping up, and which sports might be on their way back.
What are people betting?
When we last talked with Rood, his book was dipping its toe into Taiwanese baseball and basketball and some obscure soccer leagues. Since then, theScore Bet has expanded its offerings even further, and bettors are finding their home in niche markets.
One of the more popular offerings has been table tennis, with some customers upping their stakes from $5 bets to $100 per match as they become familiar with the sport. Steady action has also been experienced by theScore Bet on UFC, NASCAR, exhibition tennis, and even charity golf events.
"The public's betting what's out here, just much more at an 'entertainment purposes only' level," Rood said. "From what we have to offer, it's definitely being embraced."
If there is any "sharp" play to note, it's come on the KBO, which has been one of the biggest live sporting draws in the absence of Major League Baseball. There's value to be found in the 10-team league, but inconvenient time zones have hampered the KBO's betting handle among casual consumers.
"If we saw them play at 10 or 11 (a.m. ET), it would be twice the handle or three times the handle," Rood said. "If you have an appetite to bet baseball ... I think it's a pretty solid replacement in the absence of sports."
Still, the numbers aren't comparable to what books would be experiencing with the NBA or MLB in play. Active sports, such as the UFC, are also getting bet at a lower volume than they usually would at this time, even with less competition from other markets. However, Rood says the overall activity level has been solid considering the circumstances.
"There's a certain percentage of our base right now that is just really not engaged in sports betting," he said. "If the world was normal and we had the amount of activity that we would have expected during this time of year, these fights would have been double or so what we're seeing.”
How is the NFL market?
One area that has picked up as of late has been the NFL futures market, which is generating plenty of interest even with uncertainty surrounding the season.
Normally, books would wait until after the NFL draft and even into the summer before releasing their full array of futures bets and season props. That hasn't been the case this year, though, with nearly every major book - including theScore Bet - dealing Super Bowl odds, win totals, playoff odds, and as many player props as you can imagine.
That's led to plenty of volume, especially with the NFL draft and schedule release. Rood says it's been on par with what he'd expect during a regular year.
However, that similar level of action comes with far more bets offered than usual, and it hasn't translated to big wagers from sharps.
"We're seeing some of those pro bettors keeping their powder dry for right now," Rood said.
The casual betting audience has helped pick up the slack. The NFL draft was a smash hit for books in terms of volume - even if many lost money to the event - and the release of Week 1 lines has drawn plenty of early interest, too.
Rood expects the market will continue to gain steam into the summer, especially with more clarity on the NFL campaign and the potential start of offseason activities.
"That faucet just turned on a little bit," he said of the NFL market. "And it's been coming in steady."
Which sports will return in 2020?
While Rood still feels confident in an NFL season (even if it's played without fans in attendance), the veteran oddsmaker is less optimistic about the return of other top leagues this year.
Many expected MLB to be the first to end its hiatus, but issues over pay and service time have halted momentum and cast doubts about whether baseball will return at all this year.
MLB odds at theScore Bet were taken down months ago, and it's currently not offering any wagers on the sport. It could stay that way for a while, too, especially with recent comments from Tampa Bay Rays pitcher Blake Snell adding fuel to the fire as the tension grows between owners and players, Rood said.
"I'm less optimistic about baseball coming up with something just because they don't have to have to deal with being halfway through a season," he said. "It's easier for them to just draw a line through 2020.”
As for the NBA, which suspended play just weeks before its final regular-season games, there's been momentum in recent days as the league looks to reportedly secure a neutral site to start the postseason. With some of its top players committed to playing out the year, there's a growing sense of optimism that the league could return in June or July, which would be welcomed by books and bettors alike.
"From a betting perspective, that would be a fantastic thing to resolve all the outstanding stuff," Rood said. "As long as they declare a champion, we're going to honor that format and that outcome."
C Jackson Cowart is a betting writer for theScore. He's an award-winning journalist with stops at The Charlotte Observer, The San Diego Union-Tribune, The Times Herald-Record, and BetChicago. He's also a proud graduate of UNC-Chapel Hill, and his love of sweet tea is rivaled only by that of a juicy prop bet. Find him on Twitter @CJacksonCowart.