The NFL Draft becomes one of the biggest events to bet on during the spring. Teams select a player, usually from college football, to sign to their team. The order is typically based on the reserve order of the standings so the last-placed team from the previous season picks first while the Super Bowl champion picks last.
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 much resources used on NFL Drafts that teams have entire departments dedicated to his aspect alone.
Getting into the NFL Draft Odds
You can bet on the NFL Draft! Find the NFL Draft odds from the sportsbook. These become available some time during the NFL regular season.
With each year, NFL Draft odds become increasingly available. You can find them on the sportsbook and bet on such things as the first overall pick, what draft position a player will be selected in, and what position a team will select.
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. As such, the less likely something is to happen, the greater your payout and vice versa.
You can also convert the American odds to decimal odds or fractional odds.
Types of NFL Draft Odds
NFL Draft odds come in many different markets. Find them from the sportsbook as early as months prior to the draft. Some popular markets are:
- Odds to Pick First
- Odds First Player to be drafted
- Odds by positions (offense, defense, quarterback)
- NFL Draft position over/under
There are a slew of options for betting on the NFL Draft. One of the most popular is betting on the over/under (total) of the 1st Round. Point spreads are rare for NFL Draft betting but you can bet on how many players from a position will get selected.
As an example, the over/under for 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.
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.Follow us on Twitter