NFL Draft Betting and Odds: Everything You Need to Know

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NFL Draft Betting Odds & Bets: See the Different Types

NFL Draft Betting
NFL Draft Betting Odds & Bets

How to Bet on NFL Draft Over/Under

An NFL Draft Over/Under bet is central to NFL Draft sports betting. It works in two different ways, but they are also extremely similar. Let's use Ohio State defensive end, Chase Young, as the player to help us explain the first way.

Chase YoungOver2.5 Picks
Chase YoungUnder2.5 Picks
NFL Draft Over/Under Example

With this bet, the sportsbook is asking if Young will either be selected with the first or second pick or if he will be selected with the third pick or lower. Sportsbooks will set their own odds when it comes to these over/under bets.

The other type of over/under bet deals with the number of total drafts picks by position. For example:

  • How many quarterbacks will be selected in the first round?
  • How many running backs will be selected in rounds 1 and 2?

Again, it is up to the sportsbook to set their own NFL Draft sports betting lines, and it's up to the bettor to choose the correct pick. 

NFL Draft Prop Bets

Prop betting is extremely popular when it comes to the NFL, especially during two major events: The Super Bowl and the NFL Draft.

NFL Draft prop bets work sort of like future betting when it comes to betting on the NFL Draft. With prop bets, you will be required to bet on an event relating to the Draft that has interest but might not make headlines. Some of the questions posed by NFL Draft prop bets might include:

  • Which player will be chosen No. 1 overall?
  • Which position will be chosen with the No. 1 pick?
  • Will the Cincinnati Bengals trade the No. 1 pick before the draft?

It's impossible to know what NFL draft prop bets will be available and offered on the next NFL Draft, but there will be a large list of them. Prop bets can make betting on the NFL Draft more fun and exciting, especially if you win. Of course, like all prop bets, NFL Draft prop bets should be viewed as quite high-risk bets, and it is, therefore, advisable to keep stakes to a modest level.

How to Bet on NFL Draft Head-to-Head

NFL Draft Head-to-Head Betting

Head-to-head betting is the easiest NFL Draft betting type to understand. And that makes it one of the best NFL Draft bets for beginners. Let's take a common question in the 2019 NFL Draft to explain this betting type:

Which player will be selected first?

  • Dwayne Haskins
  • Kyler Murray

Sportsbooks will set NFL Draft sports betting odds for each player, and it doesn't matter where they are selected. The player that comes off the board first will be the correct pick when it comes to head-to-head betting. 

Live NFL Draft Betting

Here at How to Bet, we offer direct links to live NFL draft betting odds! For those of you who aren't aware, live betting markets allow you to bet whenever you want, so you don't have to worry about beating any cut-off or deadline. Some of the best sportsbooks and offers for live NFL draft betting odds are below. 👇

There are two main ways to bet on the NFL Draft. One is through an online bookmaker or sportsbook, and the other is to visit Las Vegas. Online sports betting has become extremely popular in the last few years, but there is still nothing like betting on the NFL in Vegas. For more NFL action, remember to check our How To Bet On NFL guide.

NFL Draft Betting Odds: Best Bookmakers and Sportsbooks

Since the NFL is the most popular sport to bet on in the United States, all of the top sportsbooks will offer bets on the NFL Draft. We have picked out three of the best NFL Draft bets sportsbooks where you should head to bet on the NFL Draft. 

FanDuel emerged as one of the leaders in Daily Fantasy Sports, but they are now a full-fledged sportsbook. FanDuel has recently made deals with several states throughout the country to offer online sports betting, including NFL Draft betting.

DraftKings is the top competitor to FanDuel in the DFS market, but they are also a leader in the sports betting industry as a whole. The Boston-based company has a presence in almost all the states where sports betting is legal in the US, and they specialize in NFL betting.

Caesars Sportsbook is one of the top American sportsbooks on the market. Caesars specializes in providing terrific college basketball betting odds, and that includes NFL Draft betting. 

NFL Draft Betting in Vegas

NFL Draft Betting in Vegas

Betting on NFL Draft in Vegas will offer a whole new experience in college football betting, and it will provide a party-like atmosphere. There are many casinos and sportsbooks that will offer NFL Draft betting odds (including NFL Draft prop bets and many of the other best NFL Draft bets) and you will be able to watch the action unfold as you are betting. 

Understanding NFL Draft Betting Odds

NFL Draft betting odds work in exactly the same way as regular football betting odds. That said, if you know how to bet in normal football markets, you'll already know how to bet on NFL Draft markets. If you don't have that kind of experience, read on and we'll tell you all you need to know in a matter of minutes.

When NFL Draft betting odds are published, they will be preceded by either a plus (+) or a minus (-) sign. The plus sign indicates that the profit from a winning bet will exceed the amount staked, while the minus sign tells you that you will need to risk more than you will receive in profit if the bet succeeds.

Two simple rules of thumb to remember are as follows:

  • When NFL Draft betting odds are preceded by a plus sign, you need to bet $100 to make the figure quoted as profit. For example, odds of +400 would give you a profit of $400 for every $100 you bet.
  • For betting odds that are preceded by a minus sign, you need to bet the figure quoted to make a profit of $100. For example, odds of -180 would require you to bet $180 to make a profit of $100.

In most NFL Draft betting markets, the vast majority of odds will have a positive value. However, knowing how negative odds work will also come in useful from time to time, so memorize both NFL Draft betting odds rules and you won't go wrong.

NFL Draft Betting Tips and Strategy

Watch NFL Network

Watch NFL Network

Watching TV really can help you when you're learning how to bet on NFL Draft. The National Football League has a dedicated television network that provides official league content and data around the clock. In the months leading up to the NFL Draft, there will be plenty of programming surrounding the draft. 

Draft experts will have inside information or will provide some insights that will help with your NFL Draft betting. 

Check out Mock Drafts

NFL Draft Betting: Check out Mock Drafts

Another great strategy to help you succeed with the best NFL Draft bets is to keep your eye on the various mock drafts that come out in the weeks leading up to the NFL Draft. There are several NFL Draft experts that release mock drafts, and those mock drafts usually change several times before the day of the draft.

You need to look for common picks between the mock drafts and start to come up with your own mock drafts based on the information that you are looking at. Mel Kiper and Todd McShay are two NFL experts that commonly release NFL Mock Drafts. 

Research Team Needs

Teams use their draft picks as a way to address some of their team needs, especially in the early rounds. If you know what each team needs heading into the draft, it should help determine which player each team is targeting. And that could help you make the most of the best NFL Draft bets.

This doesn't always happen, but knowing and understanding the needs of each team is a great NFL Draft betting strategy.

NFL Draft Betting: How to Sign Up With a Sports Betting Site

How to Sign Up With a Sports Betting Site

So now you know how to bet on the NFL draft. But before you can start profiting from NFL Draft betting, you'll need to sign up with one of the many online sportsbooks that make it possible. Fortunately, that isn't at all difficult to do. In fact, the sportsbooks do all that they can to keep the sign-up process as quick and easy as you'd want it to be.

To begin this process, simply head to the sportsbook that you want to join and click the REGISTER or JOIN NOW button on the home page. You will then be asked to provide a few essential details that are needed to verify your age (you need to be 21 or older) and identity. Required details will include your name, email address, and probably the last few digits of your social security number.

When you have provided all of the required information, the sportsbook will create your account and you will be ready to make your first deposit and start betting. Most sportsbooks give new bettors a welcome bonus of some kind - perhaps a risk-free bet or similar - so be sure to provide whatever promo code is needed to claim that. For further information on this important topic - and live promo codes - see our Betting Bonus Codes page. You'll then have something of an advantage when you start NFL Draft betting at your chosen sportsbook.

Useful Websites

NFL Draft Betting FAQ

How does the NFL Draft work?
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The NFL Draft takes place over several rounds. In each round, each team has one pick. The worst performing team of the previous season has the first pick.

How is NFL Draft order determined?
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The draft order is determined based on the results from the previous NFL season. Draft picks 1-20 are determined at the conclusion of the regular season.

The team with the worst regular-season record is rewarded the No. 1 overall draft pick, and then the teams will fall in line from there.

Picks 21-32 aren’t decided until the conclusion of each round of the NFL Playoffs. The Super Bowl champion is given the final selection in the first round, which is pick No. 32. The loser of the Super Bowl is awarded pick 31.

The rest of the draft order will be determined based on when teams are eliminated from the playoffs, and then their regular-season record will be factored in as well. There are a large number of tie-breaking scenarios that always come into play as well.

Previous trades also have a huge impact on the draft order, but that is figured after the draft order is set.

When is NFL Draft?
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The annual NFL Draft is held at some point in late April each year. The draft begins on a Thursday night and concludes at some point on Saturday afternoon. The 2021 NFL Draft will begin on April 29 and will conclude on May 1.

What channel is the NFL Draft on?
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If you’re asking how you can watch the NFL Draft and where to watch the NFL draft, there are a few ways.

The 2021 NFL Draft was shown live on NFL Network, ESPN and ABC. A live stream of the draft was also available after authenticating with television providers. The live stream was able to be viewed on mobile devices or tablets.

How many rounds in NFL Draft will we see?
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The answer to this question depends on what round you are talking about. Teams get 10 minutes in the first round to make their selection. That time gets cut down by three minutes in the second round, as teams get just seven minutes to make a selection.

In rounds 3-6, teams are given five minutes to get their selection in. Round 7 gives teams just four minutes to make their final selection of the NFL Draft.

How many picks are in the NFL Draft?
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There are 32 picks in each of the 7 rounds of the NFL Draft. Totalling to 224 picks across the course of the draft.

There are also 32 compensatory picks awarded to teams based on the players they lost and gained in free agency.

Where can I bet on the NFL Draft?
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Most online sportsbooks will accommodate NFL draft betting. Our top three choices would be Fan Duel, DraftKings, and William Hill.

Photo credits: Ralph Freso / GETTY IMAGES NORTH AMERICA / Getty Images via AFP