Oddsmakers admit 'the NFL Draft is a weird thing to book'

NFL Draft odds are proving as challenging and as volatile as ever for bookmakers. 

With Thursday night’s first round approaching, the degree of difficulty remains high.

"The NFL Draft is a weird thing to book," Caesars Sports head of football trading Joey Feazel said. "It’s not like setting odds for a game. You can’t do math. It’s all information-based."

And that information is flying around this week, most notably on Colorado quarterback Shedeur Sanders. Feazel helps break down the latest on 2025 NFL Draft odds and action.

Shedeur Slipping 

For quite some time, Sanders was all the rage in this NFL Draft. But Deion Sanders’ son, who months ago was the favorite to go No. 1 overall, now seems to be going the wrong way fast.

Over the past couple of weeks, the thought was that Sanders was heading to the New Orleans Saints, where he was favored to go No. 9 overall. But Monday and Tuesday brought notable changes at Caesars and elsewhere.

Georgia defensive end Mykel Williams is now the +375 favorite to go ninth overall. And Sanders is out to the +700 fifth choice to go with that pick, also trailing Texas offensive tackle Kelvin Banks, Michigan defensive tackle Mason Graham and Penn State tight end Tyler Warren.

As of Tuesday night, Banks, Graham and Warren were all +600 at Caesars. 

Sanders might still go to the Saints at No. 9, but he could also face a precipitous drop if he’s not drafted by New Orleans. Perhaps to the Pittsburgh Steelers at No. 21, or maybe beyond that.

"Sanders went from being a top-three pick to possibly not being drafted in the first round," Feazel said. "His Over/Under was 3.5 on March 29, and we initially took a very sharp bet on Under. But now he’s out to -8.5. We’re just moving on bets and