How To Bet On The 2022 NFL Draft — Odds, Tips & Props Guide

The 2022 NFL Draft is quickly approaching and Scores And Odds is here to make sure you know how to bet on the three-day mega event. We’ll be answering all of your key questions in our NFL Draft betting guide. This includes not only where and how to bet on the 2022 NFL Draft, but we’ll also dive into what prop bets that are available.

How to Bet on the 2022 NFL Draft

Having a decent baseline of information about the NFL Draft, the prospects available in the class, team needs, and the history of decisions the front office has made in past years are all helpful knowledge points while betting on the draft. The draft has continued to grow into one of the biggest events on the NFL calendar, so the amount of content that surrounds it can be overwhelming. Finding value can also be difficult if you wait too long for certain bets or are getting information from irrelevant sources.

The first step for betting on the 2022 NFL Draft is to make sure you’re getting the best sports betting offers from the sportsbooks in your state. Make sure to check out our analysis of the top sportsbooks and find ways to jump-start your account with things like this Caesars bonus. Continue to read after you’ve signed up for multiple books to ensure that you’re getting the most value back.

How do NFL Draft Odds Work?

Now that you’ve signed up with great sportsbooks and hopefully have a free bet in your account, it’s time to get down to business. NFL Draft odds can be similar to other sports betting odds but there are some unique types of bets available. Let’s start with the basics.

Sportsbooks use multiple factors when they create odds. They not only want to entice you with an attractive-enough return to lay some money, but they also concede some of the likeliness of a certain outcome. The odds react to the public’s feelings as well as how the oddsmakers are predicting the event. 

As discussed in How To Read Lines, we view odds in form of a plus (+) or minus (-) sign in front of a number. A plus sign represents an underdog pick that is less likely to occur than a minus sign. Some bets only have plus sign odds, and these are usually on futures picks that have less certainty because of the increased number of factors associated with the bet.

The minus sign is a favorite pick. The lower the odds number (example: -2300 vs. -115), the more confident the oddsmaker is in the outcome. The certainty rises but so does the payout for bettors. 

The easiest way to show this is to use a $100 bet as an example. Betting $100 on a bet with -1000 odds would net a meager $10 profit. However, throwing a $100 bet on -110 odds would equal a $90.91 profit. But there’s significantly more risk associated with the latter bet. For more

Always look at multiple books before laying a bet because the odds vary by each sportsbook. 

Types of NFL Draft Bets Available 

The majority of sportsbooks now offer numerous different bet types for you to get involved with. Some are easy to understand, whereas others can be more intimidating depending on your familiarity with each team and player. Let’s explain each option.

Player Draft Position Odds

This one can be somewhat confusing because of how the over/under structure is presented. Betting on a player with an over/under line of 4.5 is a numerical bet, not an order of the draft bet. We often associated the lower the pick number as the better pick (No. 1 overall vs. No. 256 overall), but the meaning is different for the over/under play.

If you take the under on 4.5, you will win if the player is selected prior to the fifth overall selection. Vice versa, if you bet on over 4.5 then you’re saying the player will hear his name called at No. 5 and no earlier.

These bets are ideal for people who know the teams involved in that range well and are familiar with the specific player’s fit with those teams. These lines are often more shaped by public opinion than sportsbooks knowing where a player will land.

First Player Drafted Odds

This is an easy-to-understand format that is often presented with familiar names. The players included could be tied to a position or a team. For example, this could be worded as “first quarterback drafted” and offer five of the most popular passers within the class.

There is a clear favorite often with these odds and several longshots. Even in a deep quarterback class like in 2021, Trevor Lawrence was -6000 to be selected first at one point. But after Lawrence we saw much more value available until the draft drew closer.

Other positions can be more difficult depending on the teams drafting within the expected range of where a player may be picked. The strength of the positional class also matters. The outcome you’re betting on is easy to understand, though.

Total Drafted Odds

Feeling especially confident on a run of a certain position, or want to fade the public’s mock drafts? This is a good area to do so. The total drafted odds are available for certain positions, individual schools, entire collegiate conferences, and entire sides of the ball. 

Looking back through draft classes compared to mock drafts, we tend to see more defensive players and offensive linemen than receivers and running backs. This makes sense when you consider the difficulty of finding impactful blockers and defenders compared to playmakers.

But the public loves fantasy football, so mock drafts and social media discussions revolve around the glamorous positions. This isn’t to say you should always take the over on defensive players projected to go in the first round and under on receivers. Consider it when counting the number of prospects you believe will push the over or under.

Specific Team Selection Odds

Whether a huge fan and expert on one team or have a good feel for what the strategy is for a certain franchise, betting on what a specific team will do can make a lot of sense. These odds are tied to one team and a set of individual players. Usually there’s a solid favorite and reasonable value plays.

It may make sense to take a longshot for bad teams with a lot of holes. The payoff for taking a calculated gamble could reward you with a +1000 return. The odds are usually best early in the draft period before free agency crystalizes team needs and sportsbooks adjust as realistic options become clearer. 

Remember, the draft is hard to predict. We never know what will happen. What a mock draft said last year bears little consequence to NFL teams.

Team Positional Selection Odds

There are two types of team positional selection odds formats. One is projecting how many of one position a certain team will take. This is often shown as “Team to Draft Position X 1.5” and over odds on an over and under the 1.5 number. 

The other is simply betting on the position a team selects with their first pick. You may not feel comfortable betting on a certain team’s exact player but you may have a strong feeling on the position. The trade-off in odds may be significant but your risk also lessens.

2022 NFL Draft Props

Want to get weird and take random stabs on picks? This is your zone. These are slightly more random in nature and can offer a nice return on a small play.

Sportsbooks may offer a selection on what position will “Mr. Irrelevant” play, or what side of the ball. Other popular draft props we’ve seen in recent years is how many trades will occur, or if a certain position will have a run of multiple selections in a row.

Are there NFL DFS Props Available?

Absolutely. Because not everyone is located in a legal sports betting state, PrizePicks offers a similar opportunity for DFS players to be involved in the NFL Draft. Closer to and during the draft, you’ll be able to jump into the PrizePicks lobby and bet whether certain players will be selected over or under a certain draft spot. 

Even better? Check out our PrizePicks promo code for great welcome offer. You’ll be all set to maximize your draft weekend experience!

When is the 2022 NFL Draft?

The 2022 NFL Draft begins with the first round on Thursday, April 28 at 8 p.m. EST. The second and third rounds begin Friday, April 29 at 7 p.m. EST. Finally, Day 3 of the draft starts at 12 p.m. EST on Saturday, April 30.

The three-day event includes 256 total selections over the course of seven rounds. The first round features 10 minutes between each selection. There are five minutes between picks on Day 2 and 3.

Where Can I Watch the 2022 NFL Draft?

You can live stream the 2022 NFL Draft broadcast on ESPN, ABC, and NFL Network. You’ll either need a TV subscription or a subscription to one of our top-rated streaming providers. 

If you’re interested in attending the three-day draft in person, say hello to Las Vegas. The event will be held between the Draft Experience studio and the Draft Theater. This is right near The Linq, Caesars Forum, and the High Roller.