Last updated on: January 3rd, 2023
Legal NFL Draft Betting
When it comes to legal sports betting in 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 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.
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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.
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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.
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How To Watch The NFL Draft – When Is The 2023 NFL Draft?
The 2023 NFL Draft is set to take place from Thursday, April 27 to Sunday, April 29, and will be hosted in Kansas City. You’ll be able to watch the 2023 NFL Draft on all of the major networks including ESPN and Fox Sports amongst a few others.
How To Bet On The 2023 NFL Draft
To begin betting on the NFL Draft, all one must do is find a reputable sportsbook. Knowing a sportsbook is safe and reliable is important, as many unregulated sites are present online. Keep in mind that all sites listed on our network are trusted and licensed by a gaming authority.
Choosing a 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 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 to bet on the NFL Draft, you will be able to signup and place your bets in time.
Betting On The Current 2023 NFL Draft Odds
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.
First Overall Pick Odds
Arguably the most popular bet to make on the NFL Draft, you are betting on which player will be selected first overall. These odds are usually posted extremely early on before the draft and will shift continuously as the college football season progresses and how different teams move up and down the draft board.
- First Overall Pick
- Bryce Young +150
- CJ Stroud +200
- Will Levis +600
- Jalen Carter +600
- Will Anderson +700
- Anthony Richardson +3300
- Peter Skoronski +5000
- Myles Murphy +5000
These odds are pretty straightforward for you to understand. They come in the form of futures odds and you are betting on which player at a certain position will get drafted first. These odds usually come with great value since you are choosing from a pool of players at that position.
- First QB Selected
- Bryce Young +100
- C.J. Stroud +130
- Will Levis +325
- Anthony Richardson +1400
- Hendon Hooker +1400
- First RB Selected
- Bijan Robinson -400
- Jahmyr Gibbs +285
- Zach Evans +575
- Frist WR Selected
- Quentin Johnston +160
- Jordan Addison +205
- Jaxon Smith-Njigba +225
- Jalin Hyatt +950
- Josh Downs +1000
- Rashee Rice +950
Head To Head Odds
Similar to betting on a moneyline, you are betting on which of two players is going to get drafted first. You’ll be able to find multiple odds on this for either players of the same position or different positions. All you are doing is selecting which player you think is going to get drafted first and submit your bet. Here is an example of what you’ll find in the 2023 NFL Draft:
- Defensive Player To Be Drafted First
- Will Anderson Jr. -160
- Jalen Carter +120
With these odds, you are betting on the total number of players selected in a specific round of the draft. That total number of players is usually based on position so you can bet on if the total number of players drafted in that round at a specific position will go over or under that set number.
- How Many QBs selected in Round 1
- Over 4.5 +200
- Under 4.5 -300
- How Many RBs selected in Round 1
- Over 1.5 -160
- Under 1.5 +120
- How Many TEs selected in Round 1
- Over 1.5 +170
- Under 1.5 -250
- How Many WRs selected in Round 1
- Over 4.5 +120
- Under 4.5 -160
Players Exact Position
This is a straightforward bet that will give you multiple options on where you believe a certain player will be selected. You will then have the option of choosing which pick that player will go, with each option having varying odds. These bets also typically include a ‘field’ option, which means any other option that is not currently listed. These bets typically feature good odds and can be very beneficial if you are convinced that a player is going to a certain team. Player position bets will look something like this:
- When Is Tua Tagovailoa Selected?
- Pick 5 +150
- Pick 3 +225
- Field +350
- Pick 6 +500
- Pick 4 +850
- Pick 2 +1600
Offensive/Defensive Selection For A Team
This is another straightforward bet that is very simple to figure out. With only two options, you are deciding if a team will select an offensive or defensive player with their pick. These can come with varying odds since sometimes it is very apparent which side of the ball the team is looking to draft. Other times it can be more up in the air depending on draft position and who is available. An offensive/defensive draft bet will be listed like this:
- Dallas Cowboys First Pick
- Defensive Players -140
- Offensive Player +165
College Team/Conference Comparisons
These are unique bets that have to do with which colleges the drafted players come from. Bets in this category can vary from things like which conference has the most players in the first round, to which specific college has the most of a certain position, and many more. Here is an example of what a college specific draft bet would look like in your sportsbook:
- More First Round Picks
- Alabama -150
- LSU +110
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.
- Teams With Compensatory NFL Draft Picks
- Los Angeles Rams: 3rd Round (1), 4th Round (1), 6th Round (3)
- Los Angeles Chargers: 5th Round (1), 6th Round (2), 7th Round(1)
- Baltimore Ravens: 3rd Round (1), 4th Round (2)
- Arizona Cardinals: 5th Round (1), 7th Round (2)
- Detroit Lions: 3rd Round (1), 5th Round (1), 6th Round (1)
- New Orleans Saints: 3rd Round (1), 4th Round (1), 6th Round (1)
- Green Bay Packers: 4th Round (1), 6th Round (1)
- Indianapolis Colts: 5th Round (1), 7th Round (1)
- Pittsburgh Steelers: 3rd Round (1), 5th Round (1)
- San Francisco 49ers: 7th Round (2)
- Cincinnati Bengals: 4th Round (1)
- Dallas Cowboys: 4th Round (1)
- Kansas City Chiefs: 7th Round (1)
- Las Vegas Raiders: 6th Round (1)
- Miami Dolphins: 4th Round (1)
- Tampa Bay Buccaneers: 7th Round (1)
- Tennessee Titans: 4th Round (1)
What Teams Don’t Have A First Round Pick In The 2022 NFL Draft?
With trades and offseason moves, building through the NFL Draft isn’t an option for every team. Instead, teams can trade first round picks (or any other pick in the draft) to acquire other players. Heading into the 2022 NFL Draft, there are six teams without a first-round pick. Though they can still make moves to find themselves picking a player on Thursday, it shouldn’t be expected to hear their names the first day.
- First Pick For Teams Without A First Round Pick:
- Chicago Bears: 2nd Round (39th Overall)
- Indianapolis Colts: 2nd Round (47th Overall)
- Seattle Seahawks: 2nd Round (41st Overall)
- San Francisco 49ers: 2nd Round (57th Overall)
- Los Angeles Rams: 3rd Round (101st Overall)
The Top Quarterbacks In The 2023 NFL Draft
Unlike the 2020 and 2021 NFL Drafts that had clear top quarterback prospects (Joe Burrow and Trevor Lawrence), the 2022 NFL Draft does not have any “generational” prospects that have separated themselves from the pack. Rankings fluctuated widely during the college football season, with preseason top-ranked quarterback Spencer Rattler playing so poorly that he was eventually benched and transferred from Oklahoma.
The 2022 NFL Draft class also is lacking depth outside of the top five guys. The over-under for total quarterbacks is set at 7.5 to be selected in the first three rounds. In 2021 eight quarterbacks were selected in the first three rounds, but this quarterback class is lacking to the point that the under has been given -170 odds while the over has a strong payout at +130. The 2019 and 2020 NFL Drafts both had five quarterbacks taken in the first three rounds, so there is a strong precedent that the under 7.5 quarterbacks selected in the top three rounds will hit.
The Top Running Backs In The 2023 NFL Draft
An interesting running back class that also lacks any true standouts. Najee Harris and Travis Etienne were the only two running backs drafted in the first round in the 2021 NFL Draft, which may still be more than how many will be drafted in the first round of the 2022 NFL Draft. This is not necessarily from a lack of talent (this is a deep class that is missing elite running back prospects) but can be attributed to the positional value of running backs dropping.
The over-under for running backs is set at 6.5 with the favorite set us the under 6.5 at -160 odds versus +120 odds for the over. The number of running backs drafted in the first three rounds has fluctuated greatly over the past three seasons: 2021 NFL Draft had four, 2020 NFL Draft had eleven, and 2019 had seven. Given the lack of strength and questionable depth, having such a low total set as the over-under makes sense.
The Top Wide Receivers In The 2023 NFL Draft
The 2022 wide receiver class is a very deep and talented group that may not have the elite talent of last year’s class, but that may be attributed to injuries more than overall ability. One other theme that is sure to be a focus of the 2022 NFL Draft is that of the perceived top four wide receiver prospects, three of them played at Ohio State in 2020. Jameson Williams wound up transferring to Alabama for the 2021 season and elevated his draft stock tremendously, but at Ohio State, he struggled to even get on the field because of their depth. Keep an eye out for Ohio State true sophomore Jaxon Smith-Njigba for the 2023 NFL Draft, as he was the likely reason for Jameson William’s struggle to find playing time at Ohio State.
Contrary to low totals set for quarterbacks and running backs, sportsbooks expect a lot of wide receivers to be selected in the first three rounds. The total has been set at 13.5, with the over and under both given favorable odds at -120. The 2020 and 2021 NFL Drafts would have gone over that total, with 15 wide receivers drafted in the top three rounds of each of those drafts. In 2019 13 wide receivers drafted would have meant that the under would have hit based on 2022 NFL Draft odds.
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 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. 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, betting real money on the NFL Draft is safe provided that you visit an online sportsbook that is licensed and regulated. 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. If you’re still stuck, check out the recommended sportsbooks for legal sports betting on our page for a step in the right direction.