NFL Draft
- Date: Thu, April 27th, 2023 to Sat, April 29th, 2023.
- City: Union Station Kansas City
Understanding the NFL Draft
The NFL Draft is an annual event where NFL teams select eligible college football players to join their teams. This is one of the biggest football events to bet on during the spring, and this means NFL draft odds also become a big thing when betting.
It consists of seven rounds, and the order of selection is determined by the teams’ performance in the previous NFL season, with the worst-performing team picking first and the Super Bowl champion picking last. Teams can also trade their draft picks to move up or down in the draft order.
NFL teams select a football player, usually from college football, to sign to their team.
This annual event started in 1936 when there were still no scouting teams and names were put on a blackboard. It wasn’t until 1946 when teams began using scouts to better draft players. Now, there are so many resources dedicated to NFL Drafts and NFL draft odds that teams have entire departments focused on this aspect alone.
Selection of Football Players
To be eligible for the NFL Draft, players must be at least three years removed from high school graduation.
Usually, players declare their intention to enter the draft after completing their college eligibility, but underclassmen who have completed three years of college can also declare early.
Players from other football leagues or international players can also be eligible if they meet specific criteria.
NFL Teams Strategies
NFL teams employ various strategies during the draft to address their specific needs. Some common strategies include "Best Player Available," where teams select the highest-rated player on their draft board regardless of position.
"Needs-Based Drafting", where teams prioritize positions where they lack depth or talent. Additionally, teams may trade draft picks to move up and target a specific player they covet or trade down to accumulate more picks and add depth to their roster.
Getting Into the NFL Draft Odds
| Odds | |
|---|---|
| Total SEC players in the 1st round | Over 11½ SEC Players: +160 Under 11½ SEC Players: -230 |
| Total ACC players in the 1st round | Over 3½ ACC Players: -130 Under 3½ ACC Players: -110 |
| Total BIG 10 players in the 1st round | Over 8½ Big 10 Players: -115 Under 8½ Big 10 Players: -115 |
| Total BIG 12 players in the 1st round | Over 3½ Big 12 Players: -250 Under 3½ Big 12 Players: +195 |
How To Read NFL Draft Odds
American odds are the most popular format for NFL Draft odds. You will notice a “plus” sign or a “minus” sign before every entry. This indicates how much you win for every $100 you bet and how much you have to bet to win $100, respectively.
Plus numbers like +150 indicate a probability lower than 50 percent while minus numbers indicate one that is greater than 50 percent. Which means that the less likely event to happen, the greater your payout will be, and vice versa.
You can also convert the American odds to decimal odds or fractional odds.
Types of NFL Draft Odds
The Odds to Pick First is a type of bet that revolves around predicting which team will have the first overall pick in the upcoming NFL draft. In the draft, teams select new college football players to join their rosters, with the order determined by the previous season’s performance, trades, and other factors.
Betting on the odds to pick first in the NFL draft involves speculating on which team will finish the NFL regular season with the worst record, thereby securing the coveted first pick.
Sportsbooks and betting platforms assign odds to each team based on their perceived chances of finishing with the worst record.
This bet focuses on predicting which football player will be selected as the first overall pick in the upcoming NFL draft. In the draft, teams choose new players to join their rosters, and the order of selection is determined by the previous season’s performance, trades, and other factors.
Betting on the odds for the first player to be drafted involves speculating on which individual player will be deemed the most desirable and talented by teams, leading to their selection as the first pick.
Sportsbooks and betting platforms assign odds to each player based on factors such as their college performance, potential, position, and the needs of teams holding early draft picks.
This is a type of bet that involves predicting the distribution of player positions selected in the upcoming NFL draft.
Betting on the odds by positions allows individuals to wager on the likelihood of certain positions being selected more frequently than others. The main focus typically revolves around offense, defense, and the quarterback position, which holds significant importance in American football.
Sportsbooks and betting platforms assign odds to each position based on factors such as team needs, player rankings, and the overall talent pool available in a given draft class.
This bet centers around predicting whether a specific player will be picked before (under) or after (over) a certain position in the draft order.
For example, if the Over/Under for a player’s draft position is set at 5.5, and you believe the player will be drafted in the first 5 picks, you would bet the Under. If you think the player will be drafted 6th or later, you would bet the Over.
Draft Betting Examples
There are a slew of options for betting on the NFL draft odds. One of the most popular types is betting on the over/under (total) of the 1st Round. Point spreads are rare in NFL Draft betting, but you can bet on how many players from a position will get selected.
As an example, let’s say the over/under for the quarterbacks selected in the 1st round is 3½. If you bet on the under, three or fewer quarterbacks will need to be selected to cash your bet. But if you bet the over, four or more will need to get drafted to get your money.
The moneyline on the under 3½ is -150, which means you will need to stake $150 to win $100. On the flipside, the over 3½ is at +120 so a wager of $100 will return $120.
