Caleb Williams a heavy favorite, but Jayden Daniels is BetMGM's biggest liability for No. 1 pick odds in 2024 NFL Draft

BetMGM Sportsbook released updated 2024 NFL Draft odds today, and quarterbacks have cornered the betting market among early picks.

Former USC quarterback Caleb Williams is a prohibitive -5000 betting favorite to be selected first by the Chicago Bears. But it's Heisman Trophy winner and ex-LSU quarterback Jayden Daniels who owns the highest ticket percentage at 38% in that market.

Daniels, who represents BetMGM's biggest liability as top pick, has also commanded the most handle at 33.4%.

Let's take a look at updated NFL Draft odds and current betting trends at BetMGM for the first five picks.

Who will Bears select with top pick in NFL Draft?

The Bears are expected to use the No. 1 pick to take Williams, who won the 2022 Heisman Trophy after a monumental season for USC. Williams rolled up 4,537 passing yards and 42 passing TDs with just five interceptions. He also scored 10 touchdowns on the ground.  

While his numbers were a bit off in 2023, Williams still threw for 30 touchdowns and rushed for 11 more. Chicago's in dire need of a franchise QB after shipping Justin Fields off to Pittsburgh.

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BetMGM's 2024 NFL Draft odds and liabilities on picks 2-5  

The raid on quarterbacks is expected to continue with Daniels favored to go to the Washington Commanders at No. 2. He's listed at -150 to land in Washington. Former UNC quarterback Drake Maye has also taken action in this betting market.

NFL Draft second pick odds (Washington Commanders)

• Highest Ticket%: Jayden Daniels 27.2%
• Highest Handle%: Drake Maye 46.0%
• Biggest Liability: Caleb Williams

The Commanders traded starting quarterback Sam Howell to the Seahawks. Washington picked up veteran QB Marcus Mariota, who served as backup to Jalen Hurts in Philadelphia last season. They also signed journeyman quarterback Jeff Driskel as a depth piece.  

As a mobile QB in the mold of Mariota, Daniels could benefit from having a mentor early in his career with the Commanders. 

NFL Draft third pick odds (New England Patriots)

Many observers believe Maye will land with the Patriots, who suffered from shoddy quarterback play last season. Mac Jones was shipped off to Jacksonville to back up Trevor Lawrence.

Journeyman Jacoby Brissett is listed as New England's starting QB and Bailey Zappe remains, but Maye will be a definite upgrade if he ends up in New England.   

• Highest Ticket%: Drake Maye 26.7%
• Highest Handle%: Drake Maye 49.7%
• Biggest Liability: Drake Maye
• Favorite: Drake Maye -110

NFL Draft fourth pick odds (Arizona Cardinals)

This is an interesting spot with Minnesota reportedly considering a trade to move up and select quarterback J.J. McCarthy, who led Michigan to a national championship last season. Kirk Cousins is now the starting QB in Atlanta.

.@Vikings have moved from +500 to +100 to draft J.J. McCarthy at #BetMGM pic.twitter.com/bWDBF8axg9

— John Ewing (@johnewing) April 2, 2024

The Cardinals own the No. 4 pick as of now. Arizona desperately needs help at wide receiver, and former Ohio State WR Marvin Harrison Jr. (67 catches, 1,211 receiving yards, and 14 TD catches last season) could help fill that void in a big way. 

• Highest Ticket%: J.J. McCarthy 33.3%
• Highest Handle%: J.J. McCarthy 52.4%
• Biggest Liability: Drake Maye
• Favorite: Marvin Harrison Jr. -200

NFL Draft fifth pick odds (Los Angeles Chargers)

The Chargers, now under the direction of head coach Jim Harbaugh, have nine picks in this year's draft. Los Angeles also traded No. 1 WR Keenan Allen to the Bears. 

• Highest Ticket%: Marvin Harrison Jr. 29.3%
• Highest Handle%: Marvin Harrison Jr. 28.8%
• Biggest Liability: Bo Nix
• Favorite: Malik Nabers +200

This is LA's only pick in the first round, so Harrison or fellow wide receiver Malik Nabers (LSU) make a lot of sense here. The Chargers have one of the NFL's most talented young passers in QB Justin Herbert.  

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