NFL Draft Betting Odds 2024
The only complaint we have about the NFL offseason is that it is long. Having said that, they throw us some interesting events in the offseason to keep us at ease.
None of those events are bigger than the NFL Draft.
The draft also is a breath of fresh air for NFL bettors, who by this point are scratching their heads to put some money in football-related stuff. The good side is there are lots of NFL markets that open up for bettors to enjoy.
NFL Draft Odds
There are lots of options to choose from. Of course, the most common bets are the “Draft Order,” who goes first, second, or whether a player goes before or after a certain pick.
Trevor Lawrence was the surefire No. 1 pick in 2021 Draft, so the payout was as low as it can get. Zach Wilson was another lock at the No. 2 spot. So the real value was from the third pick and after.
You can also “Pick by Position,” which means you bet on who is selected first according to each position. Who is the first QB grabbed, the first RB, WR, LB, and so on.
Draft Specials
Some sportsbooks go all-in on the Draft and open special markets; DraftKings excels at this. Along with the special markets, you can find some like:
• How many trades will happen in Round 1: Under 4.5 (-125), Over 4.5 (+100)
• San Francisco 49ers first pick: Defensive Player (-275), Offensive Player (+190)
• Arizona Cardinals first pick: Offensive Player (-550), Defensive Player (+420)
• How many CBs will be selected in Round 1: Over 2.5 (-110), Under 2.5 (-110)
• How many QBs will be picked in Round 1: Over 4.5 (-250), Under 4.5 (+200)
• Mr. Irrelevant—who will be the last pick: Offensive Player or Kicker (-110), Defensive Player or Punter (-110)
How To Bet On The NFL Draft
Prop bets are a big thing in the NFL Draft. Lots of markets regarding the events that happen in the draft, besides the actual picks.
These betting options are even more popular when some of the other markets don’t pay out as much, like with the Trevor Lawrence pick.
Betting options focus on top prospects, their potential landing spots, their draft spot, and many more factors. People will also be able to wager on certain positions, the totals for each position in Round 1 or overall.
Some sportsbooks will even pit two prospects head-to-head to see who is the first one selected.
How NFL Draft Odds Work
Like in a moneyline or spread line bet, you’re usually given two possible outcomes. It can be a total bet on draft positions or the number of a certain position to be chosen.
The actual difference comes when picking in groups of players that may be picked at the no.1 spot. Or the top player of a certain position to be selected. That’s where it varies.
When betting on props like the “First Overall Pick,” the sportsbook gives you each name with odds. These odds are based on the likelihood of each player going first in the draft. The way to calculate the payouts is the same as moneylines.
In 2024, the first two picks for the Chicago Bears and Washington Commanders are seemingly all wrapped up, with quarterbacks Caleb Williams and Jayden Daniels as the likely first two off the board, making the third pick in the NFL Draft a major point of question.
At FanDuel Sportsbook, the top five players with the shortest odds to become the third pick in the draft are Drake Maye (+115), Jayden Daniels (+130), J.J. McCarthy (+430), Marvin Harrison (+1600), Malik Nabers (+7500).
Remember to shop around different sportsbooks to get the best lines available. That way, you can maximize your profit.
How The NFL Draft Works
Determining Draft Order
The draft order from 1-18 gets set in the reverse order of the standings at the end of the regular season. Excluding trades (which we will talk about below), the team that finishes last will have the first pick in the upcoming draft.
The Super Bowl champions will have the final pick of each round.
The spots between 19 and 32 go to the playoff teams. The order gets determined by which round teams are sent home and their regular-season mark.
2024 NFL Draft Order
| Pick | Team | 2023 Record | Draft Needs |
|---|---|---|---|
| 1 | Chicago Bears (via CAR) | 7-10 | QB, OL, DL |
| 2 | Washington Commanders | 4-13 | QB, WR, DL |
| 3 | New England Patriots | 4-13 | QB, TE, OL |
| 4 | Arizona Cardinals | 4-13 | WR, DL, OL |
| 5 | Los Angeles Chargers | 5-12 | CB, RB, DL |
| 6 | New York Giants | 6-11 | DL, RB, OL |
| 7 | Tennessee Titans | 6-11 | OL, CB, WR |
| 8 | Atlanta Falcons | 7-10 | WR, DL, CB |
| 9 | Chicago Bears | 7-10 | QB, OL, DL |
| 10 | New York Jets | 7-10 | OL, WR, S |
| 11 | Minnesota Vikings | 7-10 | QB, DL, OL |
| 12 | Denver Broncos | 8-9 | QB, DL, TE |
| 13 | Las Vegas Raiders | 8-9 | OL, CB, RB |
| 14 | New Orleans Saints | 9-8 | DL, WR, OL |
| 15 | Indianapolis Colts | 9-8 | DL, WR, CB |
| 16 | Seattle Seahawks | 9-8 | QB, LB, OL |
| 17 | Jacksonville Jaguars | 9-8 | DL, OL, WR |
| 18 | Cincinnati Bengals | 9-8 | WR, OL, DL |
| 19 | Los Angeles Rams | 10-7 | DL, CB, S |
| 20 | Pittsburgh Steelers | 10-7 | CB, OL, LB |
| 21 | Miami Dolphins | 11-6 | OL, S, WR |
| 22 | Philadelphia Eagles | 11-6 | RB, WR, CB |
| 23 | Minnesota Vikings (via CLE/HOU) | 7-10 | QB, DL, OL |
| 24 | Dallas Cowboys | 12-5 | OL, RB, CB |
| 25 | Green Bay Packers | 9-8 | S, OL, CB |
| 26 | Tampa Bay Buccaneers | 9-8 | WR, OL, S |
| 27 | Arizona Cardinals (via HOU) | 11-5 | WR, DL, OL |
| 28 | Buffalo Bills | 11-6 | S, DL, LB |
| 29 | Detroit Lions | 12-5 | CB, OL, DL |
| 30 | Baltimore Ravens | 13-4 | DL, OL, WR |
| 31 | San Francisco 49ers | 12-5 | CB, DL, OL |
| 32 | Kansas City Chiefs | 11-6 | DL, WR, OL |
Tiebreakers
The teams who end with the same regular-season record go to a tiebreaker based on specific scenarios. Those are as follows:
• Head-to-head, if there was a direct game between them
• Best record against shared opponents (at least four)
• Strength of wins overall games
• Highest league ranking in points scored and points allowed
• Best point differential
• Net touchdowns
• Coin flip
The teams who go to a tiebreaker will alternate the team that chooses first in each round. The tiebreaker awards the higher pick in Round 1, and then they alternate.
Compensatory Draft Picks
These are under the NFL’s collective bargaining agreement. The league assigns a total of 32 “compensatory free agent” selections. This lets the teams that have lost free agents recover losses through the draft.
These picks take place at the ends of the third through the seventh round. Each team can have a maximum of four additional picks. The teams can trade these picks since 2017.
Timing
Each team has a 10-minute time limit to make their first-round pick. That limit goes down to seven minutes for the second round. From Round 3-6, the time limit is five minutes. For the seventh and final round, the teams have four minutes to select their rookie.
If the clock expires before a team picking a player, they can make the selection later. However, the following team has the option to “steal” the desired player.
Trades
All draft picks are tradeable for other picks, future picks, or active NFL players. Both teams must phone in a trade with the exact same information for the league to approve.
Player Eligibility
To be eligible to be in the draft, the players must have been out of high school for at least three years. They also have to use their college football eligibility before the start of the next college season.
They become eligible once they finish their college eligibility. Underclassmen and players who graduate before using their college eligibility in full may request approval from the NFL for an early draft entry.
Supplemental Draft
Players who had their eligibility change after the given year’s NFL draft can enter the supplemental draft in July. The teams must bid on players by saying which round they would select the prospect in hand.
If no other team bids on that player, the first team is given the right for the player, or they go to the highest bidding team. The team will lose a pick in the same round in the following year’s draft.
2024 NFL Draft Details
The 2024 NFL Draft is slated to be held in Detroit, Michigan.
Thursday, April 25 through Saturday, April 27.
Round 1: Thursday beginning at 8 p.m. ET
Rounds 2 and 3: Friday beginning at 7 p.m. ET
Rounds 4-7: Saturday beginning at 12 p.m. ET
The entirety of the 2024 NFL Draft will be broadcast across ABC, ESPN, and NFL Network and streamed on NFL.com.
How about NFL Draft busts? We have done the research and have a top 10 ranking…