The latest NBA draft season is here, and if you’re a basketball fan asking yourself how to bet on NBA draft picks, you’re in the right place. The NBA Draft 2024 will see 58 players selected over two rounds, and there are a host of exciting markets to choose from.

Indeed, the fanfare surrounding the NBA draft has been a long-standing tradition, but betting on the draft picks is fairly new in the grand scheme of things. So, let’s get into what the draft is and how to bet on the NBA draft.

How Does The NBA Draft Work?

The NBA Draft is an annual event where NBA teams select eligible players to join the league. The 2024 NBA Draft will happen between June 26 – 27 at the Barclays Center in Brooklyn, New York. Fans can watch it live on ESPN and NBA TV. The draft process includes a lottery, conducted a month prior, to determine the order of teams that didn’t make the playoffs.

NBA draft teams
Source: NBA.com

It features two rounds: the first round, in which teams select based on lottery and regular-season standings, and the second round, in which the order is reversed. Trades often occur during the draft, adding strategic complexity.

Here are some of the notable young prodigies to watch out for in the draft:

  • Pacome Dadiet
  • Alex Sarr
  • Zaccharie Risacher
  • Stephon Castle
  • Ron Holland

How to Bet on the NBA Draft Online?

If you are wondering how to get your NBA draft betting underway, here are a few steps on where to go and what to do.

Step 1: Choose a Reputable Betting Site

Choose one of the best NBA betting sites or a top sports betting site like BetOnline, Everygame, or BetUS, which are all reputable and safe to use. You’ll find reviews of all of these sites on our site.

Step 2: Create an Account

Visit the sportsbook website and click on the “Sign Up” or “Register” button. Enter your personal information, including your name, email, address, and date of birth. Create a username and password.

Also, some sites may require you to verify your identity by uploading a photo ID to ensure security and compliance with regulations. You can also choose to go with offshore sportsbooks that mostly have no kyc verifications.

Step 3: Deposit Funds

Go to the “Deposit” or “Banking” section of the site. Choose your preferred payment method, such as a credit card, PayPal, or bank transfer. Enter the amount you wish to deposit and follow the on-screen instructions to complete the transaction.

Ensure your account has sufficient funds before placing any bets. The deposits may take time to reflect in your account depending on the payment method. Alternatively, you can choose a top crypto betting site that supports instant deposits and withdrawals.

Step 4: Find NBA Draft Betting Markets

Navigate to the “NBA” or “Basketball” section of the sportsbook. Look for “NBA Draft” or “Specials” to find the available betting markets like “First Overall Pick,” “Top 10 Picks,” or “Over/Under Draft Position.” Explore these options to find bets that interest you.

Step 5: Place Your Bet

Once you have selected a bet, click on it to add it to your bet slip. Enter the amount you want to stake and review your bet slip to ensure everything is correct. Confirm and place your bet by clicking the appropriate button. You have now just completed betting on NBA draft picks yourself.

how to bet on NBA draft - first pick odds screenshot

How do NBA Draft Odds Work?

NBA draft betting odds represent the likelihood of certain outcomes during the draft, like which player will be picked first. Bookmakers set these odds based on player performance, team needs, and expert opinions. You can place wagers on these outcomes, with potential payouts based on the odds provided. Once you really grasp the odds, you will know how to bet on NBA draft picks more clearly.

Possible Outcomes

Beginner Odds: For beginners, betting on the No. 1 pick is a simple option and one of the go-to NBA draft betting lines. Odds will list a few top players (usually 2-4) with their chances of being picked first. For example, Player A might have odds of +200, meaning if you bet $100 and they are picked first, you win $200.

Advanced Odds: Advanced bettors can explore more complex options like Over/Under draft positions. This bet involves predicting if a player will be picked earlier (under) or later (over) than a specific draft position. For instance, if the line is set at 5.5 and you bet “under,” you win if the player is picked in the top 5.

Wagering on the NBA Draft: Odds & Markets

During the NBA Draft, you can either wager on Moneyline bets, predicting straightforward outcomes or delve into more complex markets like First Four in Order, where you guess the top four picks.

First Pick Odds lets you bet on the No. 1 draft pick. Prop Bets offer unique, specific scenarios to bet on, while Futures focuses on long-term outcomes. Totals involve betting on draft positions, and Live Draft betting lets you wager in real time as the draft unfolds.

Moneyline

If you want to know how to bet on NBA draft picks, you need to understand the moneyline market. In the NBA Draft, a moneyline bet involves picking which player will be selected at a specific draft position.

For example, if you believe Player A will be picked first, you place a Moneyline bet on them. The odds for each player reflect their chances of being picked at that position.

First Four in Order

The “First Four in Order” bet involves predicting the exact order of the first four draft picks. This type of bet is more challenging but offers higher payouts due to the difficulty of correctly predicting the sequence. To place this bet, you select the four players you believe will be picked, first, second, third, and fourth, in that specific order.

For example, you might bet that Player A will go first, Player B second, Player C third, and Player D fourth. If the draft unfolds precisely as you predicted, you win. This bet requires in-depth knowledge of team needs and player rankings, such as Lebron James. It’s one of the more common NBA draft bets.

First Pick Odds

First Pick Odds focus on predicting which player will be selected first overall in the draft. Bookmakers set odds for several top prospects, reflecting their chances of being the first pick.

For instance, Player A might have odds of +150, Player B +300, and Player C +500. If you bet on Player A and he is chosen first, a $100 bet would yield a $150 profit. This market is popular because it’s straightforward and based on the hype and speculation surrounding the top prospects. In addition, researching mock drafts and expert opinions can help in making informed bets.

NBA draft picks at Bovada

Prop Bets

NBA draft prop bets, or proposition bets, offer a variety of unique and specific scenarios related to the NBA Draft. These bets are not limited to the order of picks. Still, they can include outcomes like which player will be the first international player picked, how many players from a specific college will be drafted in the first round, or whether a player will be picked higher or lower than a certain position.

For example, you might bet on whether a specific player will be drafted in the top 10. Prop bets are appealing due to their diversity and the opportunity to bet on specific draft events.

Futures

Futures bets are basically long-term predictions related to the draft. Instead of focusing on immediate outcomes, these bets predict the future success of players or teams based on draft results. You can also place your futures bets on what teams are going to draft what players. It’s a big part of knowing how to bet on NBA draft picks.

For example, you can bet on which drafted player will win Rookie of the Year or how many games a team’s draft picks will help them win in the upcoming season. Futures require a broader understanding of the players’ potential and team strategies. These bets are usually placed well in advance of the season and can offer substantial payouts if your long-term predictions are accurate.

Totals

Totals, also known as Over/Under bets, involve betting on a player’s draft position. Bookmakers set a line for where a player might be drafted, and you wager on whether the actual draft position will be higher (over) or lower (under) than that line.

For example, if the line for Player A is set at 5.5, you can bet on whether they will be drafted in the top five (under) or sixth or later (over). This type of bet requires an understanding of team needs and draft trends. Totals add another layer of strategy to draft betting.

Live Draft Betting

Live Draft betting allows you to place wagers as the draft is happening in real time. This dynamic form of betting requires quick thinking and the ability to react to unfolding events. As teams make their picks, odds shift, and new betting opportunities arise.

You can bet on the next pick, whether a trade will occur, or other live events. To be successful, stay updated with the latest draft news and trends, and be prepared to make fast decisions. Live betting adds excitement and immediacy to the draft experience, keeping you engaged throughout the event.

NBA Draft Betting Strategies & Tips

Betting on the NBA Draft can be both thrilling and profitable if you approach it with the right strategies. Here are some essential tips to ensure you get the most out of your NBA draft betting.

✅ Research Players and Teams

Thoroughly research the top draft prospects and each team’s needs. Understanding a player’s strengths, weaknesses, and fit with potential teams will help you make informed bets. It also helps to look up the past history of the NBA Draft for clues.

✅ Follow Expert Analysis

Stay updated with mock drafts and expert opinions. Analysts often have insider information and deep insights that can guide your betting decisions. Follow reputable sources for the most accurate predictions.

✅ Monitor News and Rumors

Pay attention to the latest news and rumors leading up to the draft. Player workouts, team interviews, and trade talks can significantly impact draft positions and odds. Staying informed will help you adjust your bets accordingly.

✅ Diversify Your Bets

Don’t put all your money on one type of bet. Spread your wagers across different markets, such as Moneyline, First Four in Order, and Prop Bets. This approach can mitigate risk and increase your chances of winning.

✅ Manage Your Bankroll

Always ensure to have a gambling budget planned and try to stick to the plan. Also, try not to chase losses, and don’t bank all of your bankroll in a single bet. These practices can help prolong your sportsbook balance and stay afloat even in bad form. Please go through our wide range of betting guides for a more comprehensive understanding of wagering on sports.

Responsible Gambling

Responsible gambling is crucial to ensure that betting remains a fun and safe activity. It’s important to gamble with awareness and control to prevent it from becoming a problem. Here are some tips to keep your gambling in check:

  • Set a Budget: Determine how much money you can afford to lose and stick to that limit. Never gamble with the money you need for essential expenses.
  • Use Sportsbook Tools: Most sportsbooks offer tools to help manage your gambling. You can set deposit limits, loss limits, and wagering limits on your account. You can also use time limits to control how long you spend on the site.

For more support, you can contact national helplines. Visit the National Council on Problem Gambling‘s responsible gambling page for resources and helplines. Remember, the goal is to enjoy gambling responsibly and safely.

NBA Draft Betting Guide FAQs

When is the 2024 NBA Draft?

Can I bet on the NBA Draft?

Which sportsbooks have the best 2024 NBA Draft odds?

Is the NBA Draft a prop bet?

What is the NBA Draft lottery?

Who has the first pick in the 2024 NBA Draft?

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Trevor Jones
Sports Editor

Trevor Jones is an expert in iGaming with a passion for writing about US sports, particularly football and basketball. He is extremely knowledgeable about US gambling regulations and contributes to Sports Casting. He has also contributed to sites like The Grueling Truth and Strafe, among many others. He is an avid sports and betting enthusiast and a huge fan of the Golden State Warriors, though he follows all of the major sports leagues.

Get to know Trevor Jones better
Author photo
Trevor Jones Sports Editor

Trevor Jones is an expert in iGaming with a passion for writing about US sports, particularly football and basketball. He is extremely knowledgeable about US gambling regulations and contributes to Sports Casting. He has also contributed to sites like The Grueling Truth and Strafe, among many others. He is an avid sports and betting enthusiast and a huge fan of the Golden State Warriors, though he follows all of the major sports leagues.

All posts by Trevor Jones