NFL Draft Betting: Odds & Betting Lines

Table of Contents

NFL Draft Betting: Odds & Betting Lines

Author: American Gambler Staff | Last Updated: May 5, 2023

Die-hard NFL fans, and even those just getting into the game, can add excitement to the football experience by following the NFL Draft. It's always a massive affair, and betting on the NFL Draft is a great way to make things even more interesting.

All major sportsbooks carry NFL draft betting odds allowing bettors to boost their winnings by choosing how teams make their choices throughout the event. They offer lines on who will be the first and second picks, the first wide receiver chosen, and much more. There's a lot that goes into setting the odds, with plenty of NFL Draft betting props available, as well.  

How Does NFL Draft Betting Work?

NFL Draft betting involves predicting which players will be drafted by specific teams and in what order. It can include bets on who will be the first player chosen overall or who a particular team will select with its picks.

One of the most common NFL Draft bets is wagering where certain college football stars will go in the draft. This can involve placing money on whether a player from a specific school, such as Alabama or Ohio State, goes before another player from that same school.

Another popular bet is guessing how many quarterbacks are taken in the first round of the draft. 

This type of bet requires careful analysis of each team's needs and potential picks. Bryce Young (Alabama) and CJ Stroud (Ohio State) lead the way for QB NFL Draft betting this year as the top picks.

Proposition bets are also available for those interested in more unique wagers. For example, some sportsbooks offer odds on what color suit the top pick wears when he is selected.

NFL Draft betting works similarly to other types of sports betting. Bettors place wagers on different outcomes and wait for results to see if they win or lose. 

2023 NFL Draft Betting Odds

In the NFL Draft betting odds, the two top spots – the first and second overall picks – are the prime locations for players. Being chosen in one of these two places often means significant fame and a much greater salary.

There are six football players who are at the top of the list to be chosen early in the NFL Draft, although two stand out more than the rest.

Number One Overall Pick

  • QB Bryce Young: -270 
  • QB CJ Stroud: -105
  • QB Anthony Richardson: +2000
  • QB Will Levis: +6000
  • LB Will Anderson: +15000
  • DT Jalen Carter: +20000

Number Two Overall Pick

  • QB Bryce Young: +100 
  • QB CJ Stroud: +110
  • LB Will Anderson: +400
  • QB Anthony Richardson: +2000
  • QB Will Levis: +2000
  • LB Tyree Wilson: +3000

How to Bet on the NFL Draft

Betting on the NFL Draft requires a similar strategy to other types of sports betting. Remember to do your research, keep an eye on the odds and take advantage of bonuses or promotions offered by sportsbooks.

There are various sports-themed news sites that offer a lot of information and insight into how draft picks may go. Perhaps the New Orleans Saints head coach revealed that the team is eyeing a particular running back. That would probably mean that choosing the Saints to make a QB pick first is less likely to happen. 

Specific insights into selection strategies, such as researching a player's age, physical size and ability, college production and other factors, can provide teams with valuable information that can help them make more informed decisions. This information also helps bettors gauge the possibility of certain players in the same category, such as QB or wide receiver, being chosen early or later in the draft. 

The first overall pick is often a QB (34 of 86 picks), but not always. From 2018-2021, a QB was selected first, but in 2022, defensive end Travon Walker was the top choice.

It's important to remember that, like all forms of sports betting, there are no guarantees in NFL Draft betting. However, with enough knowledge and strategy in hand, you can increase your chances of making successful wagers.

Where to Bet on the NFL Draft

Knowing how to bet is useless if bettors don't know where to bet on the NFL Draft. All major sportsbooks, including DraftKings, FanDuel, BetMGM, and more, include lines for NFL Draft betting. 

Because there are so many choices, bettors have the opportunity to shop around and find the best odds before placing any wagers. This helps them ensure the best return on their investment. 

2023 NFL Draft Order

The NFL Draft is a culmination of months of rigorous scouting and evaluation of players. The process starts with NFL scouts, who conduct thorough assessments of eligible players and make recommendations to the teams based on their findings. 

The teams then conduct their own independent evaluations to determine which players will be the best fit for their respective organizations. This selection process is highly competitive, with each team vying for the top talent in the draft pool.

There are currently seven rounds in the NFL Draft, which will be held this year in Kansas City, Missouri. Around 300,000 people are expected to attend the event. 

The NFL Draft order depends on how the teams fared in the previous season. This means that the team that finished at the bottom of the standings will have the first pick in the draft, followed by the second-worst team, and so on.

These rules also apply if new teams are added to the tournament. The conclusion of a round is official when all 32 NFL teams have made their picks.

The first round of the 2023 NFL Draft takes place on April 27, starting at 8 PM ET. It leads off with the Carolina Panthers after they made a deal with the Chicago Bears. Rounds 2 and 3 will occur the following day, beginning at 7 PM ET. The final four rounds will be held on April 29, beginning at 12 PM ET. 

The Miami Dolphins had a first-round draft pick but gave it up after accusations the team violated league integrity policies. The Houston Texans also forfeited a fifth-round pick for violating salary cap rules. 

American Gambler Staff