Football fans know exactly how important the NFL Draft is and love the opportunity to get in on NFL Draft betting. Next to the Super Bowl, it is perhaps the biggest day in NFL betting all year. We all wait to see how our favorite franchise will fare in the coming year, and if these young athletes will have their dreams fulfilled.


Of course, we are all eager to see the NFL Draft betting odds come out. In addition to checking back here often to see the updated odds across sportsbooks, you can also check them out directly at these top sportsbooks.


In this article, we’ll highlight how to bet on the NFL Draft, where to bet on the NFT Draft, and how to make the most of the odds available across all the top-tier bookmakers.




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NFL Draft Betting Odds

Many ask exactly how NFL Draft betting odds work. The answer is deceptively simple: they work as they do for the other sports betting you are already familiar with. Of course, the devil is in the details here, as the type of bet in NFL Draft betting will affect how to interpret the odds. But let’s get to the basics first.


You are most likely to come across odds in the American standard format. This format is rather simple to use, in terms of finding the favorite and in understanding how much money you can earn for a winning ticket.


nfl draft betting


The more likely the market thinks a bet is to happen, the lower the odds will be. If it is a negative value, then it is an absolute favorite. Find the lowest value on the chart to find the favorite. Of course, the more likely the bet is to win, the less money you will earn for your bet slip.


If the odds value is positive, for example (+145), then you will earn $145 for every $100 you risk. If the value is negative, say (-160), you will have to bet $160 in order to earn $100 in profit, plus your original risk, of course.


Here are the latest NFL Draft Betting odds 2023 for who will be the No. 1 pick. The NFL Draft betting odds were last updated on January 24, 2023:

Odds to be No. 1 NFL Draft Pick 2023BovadaMyBookie ReviewBetUS Review


Wonder where can I bet on the NFL Draft this year? Be sure to check out our full range of recommended sports betting sites for the latest odds and expert insight into this years’ Draft.


How to bet on the NFL Draft

The 2023 NFL Draft betting is an annual event that offers a range of different betting lines. The first-overall wager is by far and away the most popular market, but there are several other ways where you can bet on the NFL Draft.

The NFL Draft betting odds are available across the following markets at selected bookmakers:

  • First-overall pick
  • Second, third, fourth, and fifth-overall pick
  • The team’s first player drafted
  • Position of team’s first pick
  • Exact draft order
  • The first player drafted per position
  • Top draft picks
  • Draft prop bets
  • Over/under bets

Most of the betting types on the above list are pretty straightforward. The most complex NFL Draft bets are the NFL Draft prop bets, which entail stating precisely where certain players will be drafted. These kinds of wagers are pretty famous, as the betting odds for the NFL Draft are quite favourable for players; if you’re confident, you can choose the exact point they’ll be picked at.


NFL Draft Over/Under Bets

These types of wagers are also known as totals betting, where you decide the outcome based on whether it will be above or below a set value (set by the oddsmakers). These types of wagers are particularly popular, as the NFL Draft betting odds across most top-tier providers are pretty favourable to the bettor.

There’s an element of risk playing the over/under in the NFL Draft. But, for avid NFL fans, these types of wagers can be one of the best bets for the NFL Draft. Check out the markets at your favourite bookmaker today!


NFL Draft Bets

So, what exactly can you bet on during the NFL draft? I mean, there is no objective winner. There is no score. How do you bet on this complicated process?


When looking out over the terrain of the best NFL draft bets, you can conveniently divide them into two broad categories. On one hand, you have the player props, so when each player or position will get drafted. Then you have team bets. These ask when each team will get to choose, and which player or position they will grab up.


Each of these two categories requires a different NFL Draft betting strategy. More on that below.


There are a number of fun types of NFL Draft prop bets you can make.

  • Who will be the first overall pick?
  • Who will be the second overall pick?
  • Who will be the third overall pick?
  • Will a certain player be in the first five picks?
  • Who will be the first quarterback picked?
  • Who will be the second quarterback picked?
  • Who will be the third quarterback picked?
  • Who will be the first running back picked?
  • Who will be the first wide receiver picked?
  • Which team will get the first overall pick?
  • Among many more!

NFL Draft Betting Strategy

It is recommended that you develop an NFL Draft betting strategy. If you have an overall betting strategy, that will help you out here definitely. But it is such a strange sports betting event, that we recommend you have your own research for this betting event.


Here are our top NFL Draft betting tips and strategies.


nfl draft betting image


Review the Consensus NFL Mock Draft

The consensus NFL mock draft is a great tool for getting an idea of how the whole event will play out. It is a great starting point for deciding which NFL Drat bets are best, or for double-checking the ones you are thinking about making.


But what is it? Basically, experts make an average of a bunch of NFL mock drafts. They produce this document as an average, as a poll of polls, let’s say. This means you will not be looking at one person’s opinions, but rather you’ll be taking your cues from the hive mind. It tends to much more accurate than any single pickster.


Research Each Bet Carefully

The draft is different from other betting events in that each round affects so significantly all subsequent rounds. For example, if you choose a player to be drafted in the third round, but he ends up going first, well, then you have already lost two bets.


Make sure to go about this research from two angles. The first is just to look at the priorities of each team with respect to the potential pool of players. This will give you an idea of the perfect scenario for each team you are researching.


Then, make sure to put this in the context of the draft itself. No team will get its perfect draft scenario because other teams will snatch up their favorites first. Once you know their dream team, put them in order so you can see if they will even have the opportunity to get what they want.


So, before you start wagering, ask yourself “can you bet on the NFL Draft and win?” Confidence is key, but also having the research to back any wager up, is integral to success.