Last Updated on May 8, 2020
With Super Bowl behind us, the NFL betting season is officially over, right? Nope, the NFL never stops. It’s onto the 2020 NFL Draft! NFL Draft betting is very popular and will be this year more than ever with the growth of the legal sports betting industry and the coronavirus concerns suspending all major sports leagues.
DraftKings Sportsbook has provided us with the latest odds on who will be the first overall pick in the 2020 NFL Draft. Let’s take a look.
2020 NFL Draft 1st Overall Odds
Updated First Overall Draft Pick Odds via DraftKings Sportsbook
|Player||Odds to be Drafted #1 Overall|
Tua Tagovailoa +3300 to be Selected First Overall, Drops from +1600
Tua Tagovailoa on if he would be happy to be the first overall pick of the NFL Draft: pic.twitter.com/Iez2g9VZOR
— FOX Sports: NFL (@NFLonFOX) February 25, 2020
If former Alabama quarterback Tua Tagovailoa did not get hurt, this may be a different conversation. With the increase of his health in recent weeks leading up to the NFL Draft, his odds have decreased to +3300 to be drafted first overall from being +2500 and even +1600. It’s still a long shot, but as of a year ago he was a “lock” to be the first quarterback drafted. He got hurt, but that was not the main reason for a new “lock” to be drafted first. Heisman Trophy winner Joe Burrow had video game numbers for an entire season and is the favorite to be selected number one overall. With Burrow’s odds leading the way, it would be a shock if Tagovailoa was taken first overall. Crazier things have happened though, and it only takes one team. After the first week of April, Tua’s first overall draft odds fell to +2500, tied with Justin Herbert.
Joe Burrow a Near Lock to Be Drafted First Overall
Currently, former LSU quarterback and Heisman winner Joe Burrow sits at a massive -10000 favorite to be selected number one overall. It is likely the Bengals take him first, but even if they happen to trade the pick it is likely still to be Burrow. DraftKings is reporting that 65% of the total betting handle has come on Burrow, even at -10000 odds. That is an insane number, but bettors are looking to get what they believe is “free money” as most believe Burrow is going number one, without a doubt.
If you bet $100 on Joe Burrow to be selected number one overall on DraftKings, the potential payout is $1. If you bet $1000, the potential payout is $10. Bettors are still betting with these odds. What looks odd on the surface is that “only” 19% of the bets have come in on Burrow, but a massive 65% of the handle. If you look deeper into it, it makes sense. Remember above that bettors need to risk $100 to win $1. That explains why there is such a heavy amount on Burrow, as it is a relatively low-risk bet from the bettors’ point of view at -10000.
Can Chase Young Actually Go Number One?
Is there actually a chance that Chase Young can be the first overall pick in the NFL Draft? DraftKings Sportsbook has Young’s odds currently at +2000 to go number one. It is unlikely that another team trades up to draft Young at number one, as most expect him to fall to number two.
One scenario where Young could go number one overall is if the Bengals elect to sign a free agent quarterback such as Cam Newton, or another veteran on the market. Should that be the case, odds will drop for Joe Burrow to go number one overall and Chase Young’s odds will skyrocket. While it is unlikely as the Bengals seem keen on selecting Burrow, it is a possibility. Keep in mind, DraftKings still is taking bets at -10000, so nothing is a sure thing. Another scenario of course is if the Bengals like a quarterback more than Burrow and feel they can trade back, but in that case it is likely another team trades up in order to select Burrow, rather than Chase Young.
As of early April, Young’s odds remained at +2000 to be the first overall pick, and Joe Burrow’s odds increased to -10000. It seems to be all Burrow, all the way.
Can You Bet The NFL Draft Online?
Yes, you can currently bet on sports online or via mobile app in the following states:
Now, just because your state has legal online sports betting, that does not mean you can automatically bet on the 2020 NFL Draft. For example, Pennsylvania sports betting laws prohibit betting on the NFL and NBA Draft. While NJ online sportsbooks and Indiana sports betting regulations allow for wagering on the NFL Draft.
There are many ways to bet the NFL Draft, including the exact top three picks, where each player will go, and more. There are a massive amount of NFL Draft betting options on DraftKings Sportsbook.
1. Joe Burrow
Do you know how the NFL Draft will go?
— DraftKings Sportsbook (@DKSportsbook) March 26, 2020
Indiana Online Sportsbook Apps for the NFL Draft
As we mentioned above, Indiana does offer betting odds on the NFL Draft. The following online sportsbooks and iPhone betting apps are the best options for Indiana sports bettors.
BetRivers Indiana: BetRivers may not be as familar of a brand compared to DraftKings or FanDuel, but they offer plenty of NFL Draft betting markets. You can also take advantage of their Free $250 deposit match bonus.
FanDuel Indiana: FanDuel sportsbook is the early king of legal sports betting in the United States, ranking #1 in PA and NJ for overall handle and revenue. FanDuel offers a risk free $500 bet for new player in Indiana.
NJ Sportsbook Betting Apps for the NFL Draft
This will be the 2nd year of betting on the NFL Draft in New Jersey. NJ was the first state offer online sports betting and currently has 20 active sportsbooks/mobile apps in the state. The following NFL sports betting sites are recommended for betting on the 2020 NFL Draft.
William Hill Sportsbook: One of the most respected names in sports betting in the UK, is now growing rapidly in the U.S. William Hill NJ offers a Free $150 deposit match bonus for all new players.
PointsBet Sportsbook: The PointsBet app is available in New Jersey and Iowa. Many sports bettors love the feel of the PointsBet app and often praise the promo’s and diverse betting options offered PointsBet. If you want to bet on the NFL Draft, PointsBet has a free $100 bonus available for new players.
PA Sportsbook Apps for the NFL Draft
This will be the first year for Pennsylvanians to bet the NFL Draft, so be sure to take advantage.
FanDuel Sportsbook PA: FanDuel sportsbook is the early king of legal sports betting in the United States, ranking #1 in PA overall handle and revenue. FanDuel offers a risk free $500 bet for new players in PA.
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