NBA Draft Betting Online – Best NBA Draft Odds 2023
The NBA Draft betting odds are available well before the actual event. It is a key part of NBA betting overall. So whenever you get the itch, or you have a hunch about how things will unfold, feel free to dive into one of these top NBA Draft betting sites. The odds were last updated on June 15, 2023.
NBA Draft Betting Odds
|NBA Draft 2023|
There are a few things to remember when looking at the odds on the NBA Draft. The first thing is to know the dates of when the draft will be happening each year. This way you will be able to plan ahead and take into account how odds will change over the year.
Normally the NBA Draft takes place in June. The 2023 NBA Draft will take place on June 23rd. You can expect the Bovada NBA draft odds to be among the first to come out.
Understanding NBA draft odds is a lot like odds for other sporting events. For those of you using American odds, the lower the number, the more likely the bet is to win. That also means that you would win less money. That’s just how the relationship between risk and reward works.
The other key to understanding the NBA draft odds is to look at the different bets available. Let’s take a look at some of the most common bets you can make during the NBA draft.
First Four in Order
One of the most difficult NBA draft bets is to pick the first four athletes that will go in the draft. This is really tough. It is like a parlay in that you have to get them all right in order to cash out on this bet.
Getting the first pick may be easy. There is often a big star that lots of people are going for. In order to nail this bet, we recommend that you look carefully at the needs of each of the first four teams to pick. Compare that with the athletes available in the draft.
That’s the easy part. The second level of analysis is to look at which teams will get a pick before the first teams get a second pick. You can bet that the teams are strategizing based on who they think will still be available by the time their second picks come around.
NBA Draft First Pick Odds
Some of the most important wagers for this event are the NBA Draft first pick odds. These are the biggest bets during this time. This is also very related to the NBA Draft lottery odds which are harder to find.
The first pick NBA draft odds can refer to a couple of things. You can bet on which team will have the first pick of the draft. This type of bet can only happen early on.
You can also bet on which athlete will be the first one to be drafted. A third and related option is to bet on which position will be the first one to be drafted.
It is always good to study up! It is good to see how these odds have shaped up in years past. With this information, you will be better prepared to dive into the NBA draft with all your tools ready.
Here are the NBA Draft Odds 2023, translated to probability, on which team will get the first pick:
- New York Knicks: 14.0%
- Cleveland Cavaliers: 14.0%
- Phoenix Suns: 14.0%
- Chicago Bulls: 12.5%
- Atlanta Hawks: 10.5%
- Washington Wizards: 9.0%
- New Orleans Pelicans: 6.0%
- Memphis Grizzlies: 6.0%
- Dallas Mavericks: 6.0%
- Minnesota Timberwolves: 3.0%
- Los Angeles Lakers: 2.0%
- Charlotte Hornets: 1.0%
- Miami Heat: 1.0%
- Sacramento Kings: 1.0%
Why We Chose NBA Draft Betting Sites
When it comes to making the best NBA Draft bets, you need great NBA betting sites for just this event. Because it is somewhat of a niche, not all sportsbooks will be excellent places for this type of bet. Here are the top things we look for when recommending an NBA Draft betting site.
NBA Draft Betting Odds
First comes first. There is a minimum of betting markets the sites need to have in order to be on this list.
But that is also not enough. There are lots of levels here. Just having the NBA Draft odds is not enough. We also expect a variety of types of bets in the NBA Draft betting market.
We also expect the best betting sites on any list to have excellent welcome bonuses. These are vital. They keep us going and help us start out on the right foot. Some sportsbooks come across as stingy at this point when they either don’t offer a welcome bonus, or a very small one, around 10%.
Compare that to GT Bets. There, they will double your initial deposit. So if you start out depositing $150, you automatically will have $300. That’s a great way to start out!
Types of NBA Draft Bets
The NBA Draft is such a big event that people are eager to make plenty of types of bets. It’s not just the headline first draft pick odds that people follow closely. Check out these popular types of NBA Draft bets.
NBA Draft First Pick
This is the king of NBA Draft betting odds. In this bet you are wagering on who will be the first player to be drafted. Looking at the lottery and which team will be making the first pick is key here, of course. All teams that did not make the playoffs are eligible for the lottery. They are all looking for the NBA’s next MVP.
Then take a look at their roster. Where do they have deep strength, and where are they more limited? Then compare this information to the available players. If they need a point guard but are likely to get an excellent one in their second pick, maybe they will snatch the only star center on the tab that year.
It is important to keep in mind trends for first picks as well. It is a super important pick to get right, but we so often come up short. It’s a great spot to sharpen your research skills. Reading our NBA picks articles is a great way to familiarize yourself with basic betting research skills.
Teams tend to draft for size. This even comes above athleticism and their record of success. In many ways, they want to work with the basics and change what they can. Size is “baked in” by the time the players are being drafted ot the NBA.
The most common picks are small and power forwards. This is an overall trend but cannot guarantee what will happen in the 2023 NBA Draft.
NBA Draft Props
Proposition bets are wagers that are a little more creative and do not deal with the big headline bet. Once we get a clear view of the draft lottery, top NBA Draft sportsbooks will release lot of Draft prop bets generally across these categories:
- Draft Position Props: The hottest picks come stacked at the start of the draft. You can bet on players being drafted in specific positions, especially top three
- Player-Specific Props: This area can be very creative. We have seen sportsbooks offer wagers on the color of the outfit the player is wearing when he gets drafted.
- Team-Specific Props: Here you will mainly be betting on which teams will get which players. It gets progressively harder as the draft moves into the later rounds.