The NFL draft has emerged as a major betting event, providing various options like player overs/unders and exact-pick numbers at platforms such as ESPN BET.

Betting on the draft can offer more value compared to traditional NFL game betting, primarily due to less sharp odds and lower limits.

Bettors should not shy away from placing bets on strong favorites, as certain outcomes, like Cam Ward going No. 1, can be almost guaranteed despite offering low odds.

For instance, Adam Schefter's report regarding Cam Ward's potential No. 1 pick led to significant movements in betting odds.

Line shopping is essential for bettors, allowing them to identify advantageous situations to 'middle' bets and potentially win on multiple outcomes.

There are various ways to place similar bets with better odds, such as betting on Mason Graham as a top-5 pick, No. 5 pick, or over/under on draft position.

New bettors should focus on following draft-related news from reliable sources, as shifts in odds are often driven by insider information and mock drafts.

Caution is advised when it comes to rumors, as seen with a misleading Reddit post about Will Levis that caused drastic odds changes, despite him not being a first-round pick.

Unexpected draft picks can create a domino effect, influencing subsequent selections and betting markets, making strategic thinking crucial for bettors.

Notable examples of this influence include Shedeur Sanders and J.J. McCarthy, whose draft positions were affected by trades and unexpected selections.

The 'position of first draft pick' market serves as an accessible entry point for fans of specific teams looking to start betting.

Finally, it is vital for bettors to stay within their bankroll limits, as lacking insider knowledge can lead to overexposure and potential financial losses.