NFL MVP Odds, Candidates, Best Bets: Mahomes on Top, Caleb Williams in Top 25

The 2024 NFL MVP race has the potential to be one of the best in recent years thanks to the abundance of young, exciting talent permeating the league.

Lamar Jackson won his second NFL MVP last year but could not slow down Patrick Mahomes and the Kansas City Chiefs during their run to their third Super Bowl in five years. Both men are among the top candidates for this year’s award, as are several other quarterbacks—but don’t count out the skill position players either, or even a defender, given the number of quality players there are in the league.

Who do the oddsmakers believe the MVP frontrunners are ahead of the free agency and the NFL Draft? Let’s take a look.

NFL MVP Odds

Odds provided by DraftKings Sportsbook. Click the odds in the table below to place your bets and get a No Sweat First Bet up to $1,000 at DraftKings.

Favorites to Win 2024 NFL MVP

Patrick Mahomes, QB - Kansas City Chiefs

Mahomes is a two-time MVP and three-time Super Bowl MVP with nothing left to prove after just six years in the NFL. Last year was the worst statistical year of his career, but he still managed to throw for 4,183 yards, 27 touchdowns, and 14 interceptions with the eighth-best QBR in the league. The Chiefs had next to no offensive weapons last year, and it wouldn’t be a surprise to see them give Mahomes more horses to run with during the offseason.

Josh Allen, QB - Buffalo Bills

Allen tied an all-time QB rushing touchdown record (15) and tacked on 4,830 total yards, 29 passing TDs, and 18 INTs as the Bills won the AFC East for the fourth straight year. He nearly led the league in turnovers and basically became a running back over the final weeks of the season, but he’s proven he has the game-breaking ability and can look like the best player in the world at his best. Stefon Diggs’ future is up in the air, which could play a role here.

Joe Burrow, QB - Cincinnati Bengals

Burrow started the year with a debilitating calf injury, eventually returning to health, but then tore a ligament in his right wrist and missed the remainder of the season. He only managed 2,309 yards, 15 TDs, and six INTs in 10 games but eclipsed 4,400 yards and 34 TDs each of the two seasons prior. He’s also widely viewed as the second-best player in the league and has elite receiver talent around him, especially if Tee Higgins returns to Cincy.

Lamar Jackson, QB - Baltimore Ravens

Lamar won the MVP last year in spite of his somewhat pedestrian numbers. His case revolved heavily around the eye test and his impact on the game, but after watching the Ravens’ meltdown in the AFC Championship Game, many will be waiting to see him look like an MVP in the most important playoff games before they give him another shot in the regular season.

Jordan Love, QB - Green Bay Packers

Love was one of the fastest risers in the league last year. He had a rough period after a great first two weeks but finished the year throwing 23 TDs and three INTs over his final 10 games, including two in the playoffs (one being a road win against the second-seed Cowboys). That was only Love's first year of starting, and as the youngest offense in the NFL matures, he figures to climb the ranks relatively quickly.

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Who Won the NFL MVP in 2023?

Baltimore Ravens quarterback Lamar Jackson won the NFL MVP award in 2023 after leading his team to the best record in the conference. That marked his second MVP at the youthful age of 27, which is significant since no two-time MVP has not made the Hall of Fame.

NFL MVP History

The first award given to the most valuable player was known as the Joe F. Carr trophy and was awarded from 1938-1946. Mel Hein, a New York Giants center and linebacker, was the first player to receive the award.

The player recognized as the earliest winner of the modern MVP award, as voted by the AP, was Cleveland Browns rookie fullback Jim Brown in 1957.

Peyton Manning won more MVPs than any other player (five), followed by Aaron Rodgers.

Past NFL MVP Award Winners

How to Choose the Best Sportsbook for Betting on the NFL MVP 

Some states do not allow bettors to wager on the NFL MVP—however, users in those that do have a variety of options that they may use to place their best MVP futures bets.

One of the most important considerations should be line shopping, or hunting to find the best sportsbook that offers the most favorable odds for your favorite NFL MVP bet. Beyond that, choosing your sportsbook for MVP bets should look very similar to how it would during any other process.

Things to consider include sportsbook bonuses, user interface, accessibility and responsiveness, aesthetics, mobile app, and more.

How to Read NFL MVP Award Winner Odds

Reading MVP odds is exactly like reading most other odds. A “-” preceding a number means that a user must bet the listed amount to win $100. For example, -120 means the bettor must risk $120 to win $100 if the bet hits.

Conversely, a “+” preceding a number means that the user will win that amount with a $100 bet. So a +400 candidate will win $400 with a $100 bet if they go on to win the NFL MVP award.

Favorites are sometimes but not always indicated by a “-.” Because there are a plethora of options, most candidates will be plus-money (“+”) until the MVP race really takes shape and one or two players emerge as the top favorites.