NFL MVP Odds, Candidates, Best Bets: Mahomes Enjoys Strong Start, Hurts Climbs

It only took one week of action for the 2024 NFL MVP odds to get a facelift as C.J. Stroud climbed into the top three and the injured Jordan Love took a nosedive.

Patrick Mahomes still leads the field as the Kansas City Chiefs are in hot pursuit of the NFL’s first-ever Super Bowl three-peat. Reigning MVP Lamar Jackson is tied with Joe Burrow and Tua Tagovailoa in the second tier of contenders but was one of the most productive QBs in Week 1.

Here, we will break down everything there is to know about NFL MVP odds, the top candidates, the award's history, our favorite NFL MVP picks, and more.

NFL MVP Odds

Odds provided by FanDuel Sportsbook. Place your bets at FanDuel and claim the bonus: Bet $5, Get $200 in Bonus Bets plus three weeks of NFL Sunday Ticket.

Favorites to Win 2024 NFL MVP

Patrick Mahomes (+350) - QB, Kansas City Chiefs

Mahomes kickstarted his 2024 campaign with a home win against the Ravens, who had the clear-cut best defense in the NFL in 2023. The 28-year-old went 20-28 for 291 yards, a touchdown, and an interception, and already seemed to have solid rapport with rookie wideout Xavier Worthy. The Chiefs offense should be more explosive than it was last year, and Mahomes has proven he has 5,000-yard and 50-touchdown potential. 

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Josh Allen (+550) - QB, Buffalo Bills

Allen has a golden opportunity to win the MVP, lead the league in turnovers, or do both. The Buffalo Bills have their worst roster (especially on offense) of the last four years and will go as far as Allen goes, which is a double-edged sword. The Bills’ start went 18-23 and had 271 total yards and four total touchdowns in a Week 1 victory, though he unsurprisingly lost a fumble in the process. 

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C.J. Stroud (+850) - QB, Houston Texans

Stroud had one of the best rookie seasons in league history in 2023. He followed that up with a solid performance in a 29-27 win against a division rival, the Indianapolis Colts, going 24-32 for 234 yards and two touchdowns. New arrival Stefon Diggs caught two touchdowns but only managed 33 yards, while Nico Collins caught six balls for 117 yards and Joe Mixon ran 30 times for 159 yards and a score. 

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Jalen Hurts (+1000) - QB, Philadelphia Eagles

Hurts is clearly healthier than he was last year, which is a huge positive for the Eagles. He went 20-34 for 278 yards, two touchdowns, and two interceptions in the league’s first-ever game in Brazil, a game that ended 34-29 with Philly knocking off the Green Bay Packers. Saquon Barkley was outstanding and handled most of the work near the goal line, which could impact Hurts’ bottom line as a runner—especially if they mostly abandon the “Tush Push” (only one attempt in Week 1).

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Joe Burrow (+1500) - QB, Cincinnati Bengals

Burrow’s early-season struggles continued as the Bengals, the largest favorites of the week, fell to a Patriots team that was the odds-on favorite to have the worst record in the NFL. He went 21-29 for 164 yards, no touchdowns, and no interceptions, and struggled to push the ball down the field. It’s still very early, but the knee-jerk reaction is to wonder if he’s past the wrist injury that caused him to miss the end of last season.

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Who Won the NFL MVP in 2023?

Ravens QB Lamar Jackson won the NFL MVP in 2023 after he led his team to a 13-4 record and the number-one seed in the AFC. Jackson finished the year with 3.678 passing yards, 24 touchdowns, and seven interceptions, to go with 821 rushing yards and five rushing TDs.

NFL MVP History

The NFL MVP was previously known as the Joe F. Carr Trophy, which was awarded annually from 1938-46. Former New York Giants center and linebacker Mel Hein was the first player to win the Carr Trophy.

The first winner of the modern MVP award, as voted by the Associated Press, was Cleveland Browns fullback Jim Brown in 1957. Coincidentally, Brown is the only rookie and the youngest player ever to win the award.

Former Indianapolis Colts and Denver Broncos quarterback Peyton Manning holds the record with five regular-season MVP trophies. New York Jets QB Aaron Rodgers is second with four (all of which were won during his time with the Green Bay Packers).

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 sportsbooks that offer 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. More info on the best NFL betting sites can be found in our detailed guide.

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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.