How to Bet Draft Picks and Cash In

Betting on NFL drafts is all about predicting stuff like who will be selected first or how many players from a certain position will be picked in the first round. You’ll most deal with prop bets and futures, which focus on player selection rather than actual game performance, making them completely different to your regular NFL betting.

This all sounds very vague, so let’s get into every type of NFL draft bets with some real-world examples.

An NFL Draft First Overall Pick bet is all about predicting which player will be chosen first in the NFL Draft. It’s like a moneyline bet: you don’t have to worry about anything else, you just need to pick a player and if the guy goes first, you get the green.

For example, let’s look at the 2023 NFL Draft and Bryce Young (the quarterback from Alabama) and how everyone was saying he’d be the first overall pick. Sportsbook had early odds that floated around -250, so he was a favorite for sure.

If you had bet $100 on Bryce Young at -250, you wouldn’t win $100 back, because he was a strong favorite. Instead, you’d win about $40 in profit. The lower the odds (closer to negative), the more likely the sportsbook thinks that player will go first, and the less you win.

We talk more about NFL betting odds in our NFL Betting Guide, so be sure to check that out to get a better read on odds and numbers.

A Draft Position prop bet lets you predict where any player lands in the draft, so it’s not just the first pick. You get to predict exactly when a player gets called, which is always fun. Let’s look at a practical example from the 2023 draft.

Will Anderson Jr. was a popular edge rusher in the 2023 draft, and sportsbooks had prop bets for his draft position, like “Will Anderson to be picked Over/Under 3.5.”

Back then you had two choices:

• If you think he’ll be picked in the top three, you bet the Under 3.5.
• If you think he’ll go fourth or later, you bet the Over 3.5.

A Draft College Totals bet is betting how many players from a specific college will get drafted in the first round. This is pretty self-explanatory, but let’s take a look at another real-life example.

For instance, let’s look at Alabama in the 2023 NFL Draft. A Draft College Totals prop bet back then could’ve been like: “How many Alabama players will be selected in the first round? Over/Under 4.5.”

You got a couple of choices here:

• If you think Alabama’s stacked roster will get at least five guys drafted, you bet the Over.
• If you think it’ll be four or fewer, you bet the Under.

It’s similar to your typical over/under NFL bet, but it’s also completely different in the context of a draft. Anyway, let’s talk odds.

A Team-specific prop bet lets you bet on something specific to one team in the NFL draft. You could bet on which position the team will draft first, of they’ll trade up or down, so it’s essentially predicting what a team you follow will do.

Let’s use the New York Jets as an example in the 2023 NFL Draft. A common team-specific prop might be, “What position will the Jets draft first?” You’ll see options like offensive lineman, wide receiver, cornerback, etc.

However, if the Jets went for a wide receiver instead, and you didn’t bet on that, you’d lose the bet. You might end up cursing the team for promising to get a position reinforced and then they go for something else entirely.

Ultimately, these bets are fun because they let you dive into team needs and draft strategies. If you’re a fan of a specific team, you’ll probably know which position needs new blood, and which aren’t really needed for the year.

The backbone of any betting strategy is understanding which factors will affect the bet’s odds, since these factors will determine how likely an outcome actually is. We start with the stuff that we know sportsbook track and consider in their analysis.

This is, to me, one of the biggest factors. Have you noticed how hardcore fans of a team always seem to know exactly what their teams need? It’s because they follow team’s statements, leaks and coaching decisions during the season. They know exactly who’s not putting in the work and is most likely to get replaced, so they tend to make good bets.

So, a team desperate for a quarterback is more likely to draft one early, affecting prop bets and draft predictions. Additionally, you could also bet on the number of quarterbacks drafted in the first round. Since you already know of a team that absolutely needs a new quarterback. This also ties in with that “follow the college football scene” How to Bet Draft fundamental we touched on earlier. You won’t know or spots these needs unless you’re in the know.

Teams that are undergoing changes in its coaching and sports planning departments are probably best avoided. Nobody knows what these new figures will look for, so these bets aren’t nearly as clear. You gotta follow the team’s news to know about these changes ahead of time, so keep that in mind.

Trades during a draft will likely throw a wrench to your neatly planned predictions and picks, so be ready to adapt. If a team, for instance, unexpectedly trades up for a top quarterback, it can shift the odds on which player will go first overall or how many quarterbacks will be drafted in the first round.

Since team trades (especially high-profile trades) can affect so many draft bets at a time, you’d do well to track these before the event.

Keeping up with information on interesting college football players is absolutely fundamental. Sometimes an interview or (leaked) private posting on social media will tip off where the player could end up. Teams might just avoid a specific player if they say the wrong thing, and it happens all the time in semi-professional environments and players that can’t really handle all the hype and fame that hits them overnight.

There’s also player injuries and other medical reports. Players that limp into the draft might just get skipped which affects betting lines for over/under player positions.

Early odds are the best, and anyone that is into NFL future bets will know this first hand. Sure, sometimes a player’s medical report is due and you’re better off waiting before putting money on them, but typically, that won’t be the case. Betting early is a bit risky, but the payouts are well-worth it, especially when you’re dealing with solid picks whose odds will only get worse. Just remember to gamble responsibly and to never bet more than you can afford to lose!

As with any other type of sportsbook betting, shopping for lines is also another key move behind learning How to Bet Draft efficiently. Be diligent and you’ll see some real value behind your bets!

To wrap up this guide, let’s address some of the most common questions people have about NFL Draft betting.

Can you bet on the NFL Draft?

Yes, many sportsbooks offer betting markets for the NFL Draft, including prop bets, futures, and more.

What is the best way to bet on the NFL Draft?

The best way to bet on the NFL Draft is to focus on prop bets and use a combination of research and team needs analysis to make good bets.

Is NFL Draft betting legal?

NFL Draft betting is legal in states and countries where sports betting has been regulated. Always check local laws before placing bets.

What are the most popular NFL Draft prop bets?

Some of the most popular prop bets include betting on the first overall pick, the number of quarterbacks selected in the first round, and specific team draft choices.