2024 NFL MVP Odds: Patrick Mahomes Is the Early Favorite

With the 2023-24 NFL season officially completed, FanDuel Sportsbook has next year's league MVP odds already up.

Notably, Patrick Mahomes and the Kansas City Chiefs just won their second consecutive Lombardi Trophy. As such, Mahomes is viewed as the favorite in the ensuing MVP market.

Interestingly enough, the most recent winner here -- Baltimore Ravens quarterback Lamar Jackson -- is not seen until fifth place on FanDuel's MVP odds board. Looking ahead, Jackson is listed at +1200 odds to earn the award in back-to-back seasons.

Let us take a deeper dive into the league MVP market. Keep in mind: Mahomes, Jackson and Aaron Rodgers are the only active players with "Most Valuable Player" on their NFL resumes.

All NFL odds via FanDuel Sportsbook.

2024-25 AP NFL MVP Betting

Patrick Mahomes (+650)

At the ripe age of 28, Patrick Mahomes continues to remind us of his brilliance. He is now a three-time world champion and two-time league MVP. Additionally, he has made the Kansas City Chiefs the NFL's first back-to-back champs in nearly 20 years.

Candidly, Mahomes has entered the "what will he do next?" phase of his career. Regular season or playoffs, he is undoubtedly one of the greatest NFL players of all-time.

In 2023, Mahomes actually had a down year statistically (by his standards). He averaged 261.4 passing yards per game last season, which is the second-lowest of his career. In terms of interceptions, "Showtime" committed 14, which was his most through any single campaign.

I don't think anyone will ever count out Mahomes again. If there's a will, there's a way with No. 15 at quarterback. Simply, we are all watching greatness in the making. He enters the offseason as the outright favorite (+650 odds) to earn his third league MVP designation.

Josh Allen (+800)

A player with world-class abilities, Buffalo Bills quarterback Josh Allen had himself another high-quality regular season in 2023. By and large, he boasts one of the strongest throwing arms in the game while also displaying terrific mobility. It led to Allen producing 44 all-purpose touchdowns last year.

The fact that Allen is built with a 6-foot-5, 240-pound frame absolutely factors into his play style. Additionally, he competes with ferocity, putting his body on the line when necessary. Allen can lower his shoulder and deliver the boom, but we'll see how long he is able to continue that physicality.

At the moment, it does seem that his best target -- wide receiver Stefon Diggs -- is uncertain about his immediate situation in Western New York. Certainly, the presence of Diggs will have outlying effects on Allen's production. With that said, Allen is the type of signal-caller that can manufacture his own production.

Going forward, Allen will need to improve on his decision making in effort to cut down on turnovers. In 2023, the Wyoming Cowboys alum threw 18 interceptions -- a career high. He also fumbled seven times, which is more than desired for an NFL quarterback; we'll see if Allen improves here.

Joe Burrow (+1000)

There's a fair chance that Cincinnati Bengals quarterback Joe Burrow returns for a revenge tour in 2024. Notably, Burrow was sidelined after most recent Week 10 with a wrist injury. That would mark the second time an ailment has ended his season prematurely through a four-year career.

Joe "Shiesty" is undoubtedly one of the coolest players in the league. On the field, his calm disposition regularly leads to success on the offensive side. Of course, Burrow has a fine skill group to work with in Cincy.

On the outside, Ja'Marr Chase is a certified No. 1 wideout. From there, receivers Tee Higgins and Tyler Boyd are free agents. In that regard, it will be interesting to see how the Bengals proceed into 2024.

Burrow is a hyper-accurate passer, as his lifetime completion clip of 68% suggests. From there, he's compiled a 97-37 TD-INT ratio as a professional. So long as his wrist stays solid, Burrow should have some value in this market; FanDuel Sportsbook has the Bengals signal-caller at 10-to-1 odds here.

C.J. Stroud (+1100)

The recently announced Offensive Rookie of the Year, Houston Texans quarterback C.J. Stroud has lofty expectations in 2024. After one of the most impressive campaigns by a rookie in NFL history, the sky's the limit for Stroud.

In unison with head coach DeMeco Ryans' first season, the Texans were likely the most improved team in the entire league. As a rookie, Stroud exemplified incredible poise and skill. By end of 2023, he was the fifth first-year player in NFL history to pass for 4,000 or more yards.

Yielding 11-to-1 odds in the MVP market at FanDuel, Stroud can certainly be an advantageous play. He did well to establish a cohesive on-field relationship with receivers Nico Collins and Tank Dell. Stroud also thrived with tight end Dalton Schultz, but the latter will be a free agent in the coming season.

If the Ohio State Buckeyes alum makes any improvements at all, he'll certainly be in the MVP conversation. Transparently, there was a point in his rookie year where he was getting brief attention for exactly that, but Stroud did miss a couple of games with a concussion. Be that as it may, I am expecting another major campaign for C.J.

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.