Last updated on: April 10th, 2024
Legal NFL Draft Betting
When it comes to legal sports betting on the NFL offseason, nothing fills the need for football fans more than the NFL Draft betting odds. While the NFL Draft signals hope and new beginnings for all 32 teams, it also can bring in big money for those looking to wager on the selection process.
Betting on the NFL draft has become more popular than ever before, with legal sportsbooks offering hundreds of unique odds across the entire draft process. Bettors today can bet on all kinds of events and situations that occur during the draft. Things like player position, team order, offensive/defensive player chosen, and many more are all given odds. Here on this page, we will go over all the different types of draft bets you will see, where you can go to place bets on the draft, how to place these wagers, and anything else you need to know.
- The Chicago Bears have the number one pick in the NFL Draft
- Caleb Williams has -1000 odds to be selected first overall
- Marvin Harrison Jr. is favored to be the first non-QB selected with -650 odds
Top NFL Draft Sportsbooks
| Rank | Sportsbook | Bonus Offer | Play Now |
|---|---|---|---|
| 1 |  |
Exclusive 50% Bonus Code up to $1000!Read Review | BVD1000 in Cashier |
| 2 |  |
50% Up To $1,000Read Review | Visit BetOnline! |
| 3 |  |
50% Up To $1,000 Read Review | Visit MyBookie! |
| 4 |  |
100% Up To $300Read Review | Visit Xbet! |
| 5 |  |
50% Up To $1,000 Read Review | Visit SportsBetting! |
#1
Bovada Sportsbook
The Best NFL Draft Betting Site
Often referred to as one of the top NFL betting sites, Bovada has lived up to that name each and every year that they’ve been in business. Specifically, when it comes to the NFL Draft though as they offer loads of different odds for you to choose from in addition to plenty of other benefits. Those include massive bonuses, accessibility to bet from your phone, and much more.
Rating: 
- Bet NFL Specials
- Live Football Odds
- 50+ Bets Per Game
- Fast Payouts
#2
BetOnline Sportsbook
NFL Draft Props Galore
Aside from betting on who the first overall pick is in the NFL Draft, BetOnline offers hundreds of different prop bets for you to take advantage of. Some NFL Draft props that they offer could be posted early on allowing you to get in on them as soon as possible for the most value. Aside from the draft prop odds, they have one of the best bonuses in the industry as well with a $1,000 new user bonus when you sign up and make your first deposit.
Rating:
- Reliable Banking Methods
- Strong Server Connection
- 10+ Year Track Record
- Huge Assortment Of Odds
- No App Mobile Betting
#3
MyBookie Sportsbook
NFL Draft Betting With Cryptocurrency
MyBookie has done a great job in adapting in the financial world as they now let you make deposits and place bets with up to 10 different forms of cryptocurrency. They accept some of the top cryptos in the world such as Bitcoin and Ethereum and other smaller altcoins in Cardano and Chainlink as well. It doesn’t matter which crypto you choose to bet with, you’ll get the same benefits with all of them such as quick processing times, no transaction fees, and the ability to connect your crypto wallets to your account.
Ratings:
- Huge Player Bonuses
- Consistent Odds
- Easy Interface
- Rapid Live Betting
- Legal In Hawaii
How To Bet On The NFL Draft
Choosing a sportsbook bonus is the next step in signing up to bet on the draft. If a bettor plans on staying for a while, consider taking the bonus. However, for those who are looking for a quick payday, avoid the glamor of the bonuses, as these can prevent you from withdrawing in a timely manner.
Bonuses come in all shapes and sizes, but using Bitcoin sportsbooks comes with the most rewards. Not only will your money be transferred into your account before the NFL Draft is over, but you will also be able to withdraw by this method as well. Keep in mind that only cryptocurrency depositors can be cryptocurrency withdrawers.
Once these steps are complete and you have filled out your personal information, begin betting. It is that easy and only takes a few seconds to get set up. Therefore, if you want to find a betting site that takes wagers on the NFL Draft, you will be able to sign up and place your bets in time.
Bet on the NFL Draft
Betting On The NFL Draft
Betting on the NFL Draft should not be difficult. While there are many prop bets and choices to select from, all of them come with the same standard format. Sportsbooks will offer a betting line where bettors must select an over-under, choose a moneyline, or select an answer from a list of options. The standard over-under bets on the NFL Draft can have odds that fluctuate just like the moneyline. For those looking for the biggest paydays, look for prop bets that feature many choices with big positive-numbered odds.
NFL Draft: First Overall Pick Odds
- Caleb Williams -5000
- Jayden Daniels +1200
- J.J. McCarthy +3500
- Marvin Harrison Jr. +3500
- Drake Maye +4000
- Bo Nix +10000
NFL Draft: Second Overall Pick Odds
- Jayden Daniels -175
- Drake Maye +125
- J.J. McCarthy +450
- Caleb Williams +6000
- Marvin Harrison Jr. +7500
- Bo Nix +10000
NFL Draft: Third Overall Pick Odds
- Drake Maye -135
- Jayden Daniels +130
- J.J. McCarthy +275
- Marvin Harrison Jr. +1500
- Bo Nix +7500
- Caleb Williams +7500
Mr. Irrelevant Position
- Quarterback +300
- Defensive Line/Edge +500
- Offensive Lineman +500
- Wide Receiver +550
- Cornerback +650
- Linebacker +750
- Running Back +1000
- Safety +1000
- Tight End +1100
- Kicker/Punter/Long Snapper +1500
First Non-QB Selected
- Marvin Harrison Jr. -500
- Malik Nabers +300
- Joe Alt +1000
- Rome Odunze +3300
- Brock Bowers +5000
- Dallas Turner +5000
- Byron Murphy II +7500
- JC Latham +7500
- Jared Verse +7500
Exact Order Of Top-3 Picks
- 1. Caleb Williams / 2. Bo Nix / 3. Drake Maye +15000
- 1. Caleb Williams / 2. Bo Nix / 3. J.J. McCarthy +15000
- 1. Caleb Williams / 2. Bo Nix / 3. Jayden Daniels +15000
- 1. Caleb Williams / 2. Bo Nix / 3. Marvin Harrison Jr +25000
- 1. Caleb Williams / 2. Bo Nix / 3. Michael Penix Jr +25000
- 1. Caleb Williams / 2. Drake Maye / 3. Bo Nix +25000
Compensatory NFL Draft Picks
Compensatory draft picks in the NFL became a mainstream roster-building tool widely used by NFL teams in the last decade. Teams are awarded compensatory picks based on an unreleased formula that is built around free agents’ salaries, snap counts, and any postseason awards achieved. In 2020 the NFL also began awarding a compensatory third-round pick in back-to-back years to any team that has a minority coach or executive coach that is signed as a head coach or general manager by another team.
Best Place To Bet On The NFL Draft
Now that we’ve gone over the different types of wagers, it is time for you to actually place your bets. When it comes to betting on the NFL draft, you have a couple options. The easiest and most readily available is to use one of our many recommended online sportsbooks. These sportsbooks are legal, reliable, and come complete with all of the types of bets we have listed above. These sites use state-of-the-art software that is constantly updated with the latest odds up to and during the draft. Most of these books will also offer promotions for new users who sign up and deposit for the NFL draft.
If you happen to live in a legal US betting state, then you also have the option of using a state licensed sportsbook. These books will have draft betting odds, but usually have fewer options than the online platforms. Always check your local book for their betting options though, as some states have not regulated NFL Draft betting and are not eligible to offer betting lines on the event.
Mobile Betting On The NFL Draft
Those looking to bet on the draft using nothing but their mobile device are in luck. Most, if not all, of the major online sportsbook platforms are available to use on mobile devices. Simply head to your betting site’s website via your device’s browser, and you will be greeted by a mobile sports betting version of the same site you see while on your desktop or laptop. These mobile adaptations have all the same odds and features as the full site and will allow you to place your bets from anywhere. As long as you have an internet connection, you will be able to bet on the NFL Draft from anywhere.
NFL Draft And Live Betting
Live NFL Draft betting is one of the premier ways to wager on the draft. When using sportsbooks with live betting, you will be able to bet on every round and every potential name called. Live betting is a way to stay in on the action throughout the draft with many betting lines and odds. These wagers go by quickly so you will have to place your bits as soon as they come. This is one of the premier options when it comes to sports betting as it keeps players engaged throughout the event.
Is Betting Real Money On The NFL Draft Online Safe?
While there can be sites that are not recommended to use, there are secure and regulated real money sports betting sites that take bets on the event. While these online sportsbooks are not regulated in the US, they still must follow guidelines set forth by the countries they are licensed in. Always read reviews and trust what has been heard through the grapevine.