2024-25 NFL MVP Odds: Mahomes Favored to win MVP No. 3

Lamar Jackson captured his second MVP last season but opens as the fourth favorite on the NFL MVP odds board for next year. Ahead of him are three stud quarterbacks, including none other than Patrick Mahomes.

Feb 12, 2024 • 11:33 ET • 4 min read
Patrick Mahomes Kansas City Chiefs NFL
Photo By - USA TODAY Sports

Less than 24 hours after Kansas City hoisted its second consecutive Super Bowl, NFL odds surrounding the NFL MVP for the upcoming season are available market-wide. 

Lamar Jackson captured his second MVP trophy with a monster season that led his Ravens to the AFC's No. 1 seed, but early odds have him slated behind three other quarterbacks. And standing at the top is someone you may hear about a lot — Patrick Mahomes.

With several football-free months awaiting us, there may not be too much movement in the most valuable player department, but alas, here are the odds for next year's NFL MVP honors. Be sure to also check out our Super Bowl odds and NFL futures pages to keep up with all the movement throughout the offseason.

Odds to win 2024-25 NFL MVP

Player DraftKings FanDuel Caesars
Ravens Patrick Mahomes +600 +650 +750
49ers Josh Allen +650 +800 +800
49ers Joe Burrow +800 +1,000 +900
Ravens Lamar Jackson +900 +1,200 +1,000
49ers Jordan Love +1,200 +1,400 +1,300
49ers Brock Purdy +1,200 +1,600 +1,600
Dolphins Justin Herbert +1,200 +1,300 +1,200
Dolphins C.J. Stroud +1,400 +1,100 +1,200
Eagles Jalen Hurts +1,500 +1,600 +1,800
Cowboys Dak Prescott +1,500 +1,600 +1,500

Odds as of February 12, 2024.

Best NFL bonuses

FanDuel New Users
Wager $5 on any market
Get $200 if it wins! Claim Now

BetMGM New Users
Bet $5 on any wager
Get $158 in bonus bets! Claim Now

Eligible USA locations only. Also, see our full list of best sportsbook promotions for 2024.
21+. Gambling Problem? Call 1-800-GAMBLER

Favorites to win NFL MVP 

Patrick Mahomes (+600 to +750)

Life sure is sweet for Patrick Mahomes. After being the underdog in three of the four playoff games, Mahomes led his Kansas City Chiefs to Super Bowl glory for the second straight year — and he even got another Super Bowl MVP to boot.

Speaking of MVP. books opened Patty as the favorite to win the third of his career. Mahomes had a "down" year offensively as the Chiefs' offense looked stagnant for much of the season, but he was able to put it all together when it mattered most.

Josh Allen (+650 to +800)

Josh Allen opened as the favorite to win the 2023 NFL MVP, and now he falls behind just the greatest QB in the league for 2024's award. 

Allen had another stellar year, throwing for 4,300+ yards and 29 touchdowns, but his 18 INTs hurt any realistic chance he had of winning his first MVP. Can 2024 be the year he finally puts it all together?

Joe Burrow (+800 to +1,000)

Are you forgetting someone? Injuries held Joe Burrow to just 10 games over the 2023 campaign, and some people may be quick to forget just how good the Cincy QB is. He'll have a full offseason to heal and get back to 100%, and he may prove to be an even bigger threat to the Chiefs three-peat chances than Allen.

How to bet futures odds

Futures betting is different than betting on an individual game because you need to consider the long haul as opposed to a single event. Here are a few tips to keep in mind when betting futures odds.  

Change your strategy at different points in the season

While some futures bets must be placed before the season begins and are then removed off the board (such as team win totals), other wagers will change odds as the season goes on.

If you are wagering money on a futures bet with changing odds keep in mind that there is less variance at the beginning of the season (when more players and teams are still in contention) and more variance as the season goes on (when teams and players at the top separate themselves from those at the bottom). 

In the preseason and beginning of the season, betting on dark horses can prove very profitable. But as the season continues, expect to see odds tighten around the favorites. At that point it becomes wise to focus on the players near the top of the odds board, as betting big underdogs is like giving your money away.

Look for value with underdogs

While the bigger names tend to be strong MVP betting favorites, there are also live long shots that can provide tremendous value. Look at younger players on the verge of breaking out, or guys that have already been playing at a high level but could take the next step now that they are in an ideal situation with a new team, coach or system. 

Other players that can give a great payout are established stars coming off underperforming seasons due to injuries or other factors. If you're lucky, you might be able to catch them in a bounce-back year.

Follow the narrative

When placing futures bets on individual awards, keep in mind that voters, not a scoreboard, are often the deciding factor. Voters can be influenced by a variety of factors, including media coverage and public opinion. Consider what the media narrative is for a particular season and which players they seem to be rooting for and against. 

For example, in LeBron James' first season in Miami, he was viewed as a villain or heel by the media and Derrick Rose, who ended up winning MVP, was the perfect foil for that. When Ron Dayne won the Heisman trophy back in 1999, it was viewed by many as a well-deserved reward for his entire career at Wisconsin.

Research historical trends

Historical trends, especially recent ones, can give you a good idea of which way voters tend to lean. 

The NBA MVP award, for example, almost always goes to a player on the best or second-best regular-season team in the league. The NFL MVP has been handed out to a quarterback in 14 of the last 15 seasons. 

Identifying those trends is a good way to separate the true contenders from the pretenders.

2024 NFL MVP opening odds

Player Odds
Chiefs Patrick Mahomes +600
Bills Josh Allen +650
Bengals Joe Burrow +800
Ravens Lamar Jackson +900
49ers Jordan Love +1,200
49ers Brock Purdy +1,200
Chargers Justin Herbert +1,200 
Dolphins C.J. Stroud +1,400
Eagles Jalen Hurts +1,500
Cowboys Dak Prescott +1,500

Opening odds for the 2024 NFL MVP award were released immediately after Super Bowl LVIII on February 12, 2024. Surprise, surprise, all 10 spots were occupied by quarterbacks.

NFL MVP winners by position

Position NFL MVP Awards
Quarterback 47
Running back 13
Fullback 4
Halfback 1
Kicker 1
Defensive tackle 1
Linebacker 1

The NFL MVP Award has been dominated by offensive players since its inception. Alan Page (1971) and Lawrence Taylor (1986) are the only defensive players to receive the honor since 1957.

NFL MVP winners by team

Team NFL MVP Awards
Packers Green Bay Packers 10
Colts Indianapolis Colts 8
49ers San Francisco 49ers 5
Browns Cleveland Browns 4
Rams Los Angeles Rams 4
Raiders Las Vegas Raiders 4
Patriots New England Patriots 3
Commanders Washington Commanders 3
Chiefs Kansas City Chiefs 3

The rest of the league has a way to go before catching up with the Packers. Green Bay's 10 NFL MVP trophies are split among Paul Hornung (1961), Jim Taylor (1962), Bart Starr (1966), Brett Favre (1995, 1996, 1997), and Aaron Rodgers (2011, 2014, 2020, 2021).

Former NFL MVP winners

Player Year
Ravens Lamar Jackson 2023
Chiefs Patrick Mahomes 2022
Jets Aaron Rodgers 2021
Jets Aaron Rodgers 2020
Ravens Lamar Jackson 2019
Chiefs Patrick Mahomes 2018
Dolphins Tom Brady 2017
Cowboys Matt Ryan 2016
Cowboys Cam Newton 2015
Jets Aaron Rodgers 2014

Listed above are the last 10 winners of the NFL MVP award, with Aaron Rodgers claiming three of them while on the Green Bay Packers.

Google News
Stay updated with the latest picks, odds, and news! Tap the star to add us to your favorites on Google News to never miss a story.

NFL MVP Odds FAQs

Pages related to this topic

Popular Content

Legal Canadian sports betting

Best Canadian betting sites Ontario sports betting
Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo