NFL Draft Betting – Best NFL Draft Bets
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.
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.
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 August 8, 2023:
|Odds to be No. 1 NFL Draft Pick 2023|
|Will McDonald IV||+20000||+20000||+21000|
Top 3/5 players to be first pick in 2023 NFL Draft
Throughout the season, Stroud faced pressure and struggled to perform outside the pocket, raising doubts about his ability to be a starting quarterback in the contemporary NFL. Despite these concerns, he demonstrated his capabilities in the College Football Playoff semifinal versus Georgia. Nevertheless, will this limited display satisfy the teams at the top of the draft?
Young is physically small for his position and stands out as an outlier. Despite this, he has impressive accuracy and rhythm when throwing to all three levels of the field. He exudes leadership and can make plays on the fly when things don’t go according to plan.
Richardson has the physique of a possible NFL star and has performed well in testing. Despite this, he didn’t have a high level of productivity during college. There’s no guarantee he’ll reach his potential as an NFL star. NFL teams are willing to take a chance on him because of his athleticism and potential, which could lead to him being the top pick in the upcoming draft.
Levis didn’t have a great season for production. Kentucky experienced a change at offensive coordinator and lost three starting offensive linemen to the NFL, as well as Wan’Dale Robinson, who was selected in the second round as a wide receiver. Despite this, Levis has some key strengths, including his size for the position, elite arm strength, and good mobility.
Will Anderson Jr
Anderson is a pass rusher with excellent size, length, and burst off the snap. He has been incredibly productive over the past two years of college football. The Bears only had 20 sacks this season and could benefit from a boost around the corner.
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 year’s Draft.
Past NFL Draft First Picks
Below we’ve put a list together of the first picks in the NFL Draft over the last ten years. Let’s take a look.
|2023||Bryce Young||QB||Alabama||Carolina Panthers|
|2022||Travon Walker||DE||Georgia||Jacksonville Jaguars|
|2021||Trevor Lawrence||QB||Clemson||Jacksonville Jaguars|
|2020||Joe Burrow||QB||LSU||Cincinnati Bengals|
|2019||Kyler Murray||QB||Oklahoma||Arizona Cardinals|
|2018||Baker Mayfield||QB||Oklahoma||Cleveland Browns|
|2017||Myles Garrett||DE||Texas A&M||Cleveland Browns|
|2016||Jared Goff||QB||California||Los Angeles Rams|
|2015||Jameis Winston||QB||Florida State||Tampa Bay Buccaneers|
The History of the NFL Draft
In 1934, the NFL established a waiver system for available players. However, Philadelphia Eagles co-owner Bert Bell believed his team was disadvantaged in signing top players. Compared to other clubs with more resources, the Eagles and similarly underprivileged teams had little chance of attracting impact players due to monetary disadvantages.
In 1935, Bell suggested an annual player draft for the NFL to ensure financial stability and fair competition. The league owners approved the proposal unanimously. Consequently, the first NFL Draft took place in 1936.
The first draft of the spectacle fans expects today was held in 1936 at Philadelphia’s Ritz-Carlton Hotel. Only 90 players were selected from various clubs without the help of formal scouting departments, agents, or 24-hour sports media coverage. Eligible players were chosen based on newspaper reports, team executives’ college visits, and front-office personnel recommendations.
The Eagles chose the first pick Jay Berwanger from the University of Chicago. Despite being a Heisman Trophy winner, he decided to become a foam rubber salesman instead of playing pro football. Out of the 81 players chosen in the first NFL draft, only 24 went on to play in the NFL. Many opted for more secure and better-paying professions instead.
The NFL Draft became popular in 1980 when it was televised live. Commissioner Pete Rozelle was unsure of its potential draw but allowed it to be broadcast on a new all-sports cable network, ESPN. The NFL Draft has a growing audience. It has moved from a hotel conference room to New York’s Radio City Music Hall. The draft lasted three days since 2010 and expanded beyond New York City in 2015.
According to Nielsen statistics, the 2019 NFL Draft event broke records for its high ratings and viewership. Across NFL, ESPN, ABC TV, and digital channels, it had a combined 3.9 household TV ratings and an average of 6.1 million viewers. Over the three-day event, more than 47.5 million viewers watched the telecasts, a five percent increase from 2018. All seven event rounds aired on broadcast television for the second consecutive year.
In 2019, the NFL Draft set a new record for attendance, with over 600,000 fans taking part in Nashville events to honor the latest crop of NFL rookies. The draft has become a widely popular event on the NFL calendar, drawing large in-person and online audiences. Its ability to build and sustain successful franchises has been proven.
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.
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.