NFL Draft Betting: What Position Will the Broncos Select With Their First Pick in 2024?

Sean Payton's first season at the helm for the Denver Broncos was a strange and unsuccessful one.

After a 1-5 start that had Denver situated as one of the league's elite punching bags, the Broncos turned things around and entered Week 15 with a 7-6 record. However, with playoff hopes still alive, the Broncos opted to bench Russell Wilson in the final two games of the season in an effort to "preserve financial flexibility."

If Denver fans were upset at how last season turned out, they better brace for 2024. FanDuel Sportsbook's NFL win totals market has the Broncos set at just 5.5 wins. The only other teams with win totals set this low? The New England Patriots and Carolina Panthers. That's some bad company.

But before we get too into the weeds on the upcoming season, let's turn to the NFL Draft, which kicks off next Thursday, April 25th.

The Broncos will make their first selection with the 12th overall pick. FanDuel Sportsbook has NFL Draft odds available for which position each team will take with their first pick, and Denver isn't short on positional needs.

Let's take a look at Denver's odds in this market and check out what move they might make with the first of their eight draft picks.

NFL Draft Odds

Quarterback (+170)

Few teams are more in need of a signal-caller than the Broncos are.

After releasing Russell Wilson last month, Denver's quarterback chart features just Jarrett Stidham and Ben DiNucci, who have combined for only five starts in their careers.

Stidham is not a reasonable long-term option while DiNucci has not been rostered on an NFL team since the 2020-2021 season.

I can't imagine Sean Payton is anywhere near bullish on his current quarterback camp, so it should be of no surprise to see the Broncos get in on the exciting draft class at this position.

However, would it make sense to achieve that via the 12th overall pick?

Caleb Williams, Jayden Daniels, J.J. McCarthy, and Drake Maye likely won't be available when it comes time for Denver to make their first-round selection. But rumors are swirling that Denver could be in the trade-up market to obtain one of these QBs.

The Broncos have been quiet and look prepared to make some moves in the upcoming week. Past the aforementioned quarterbacks, Michael Penix Jr. and Bo Nix serve as the next-best options.

FanDuel Sportsbook has the over/under draft position set at 32.5 for both Nix and Penix. While Penix or Nix could be a viable option for Denver, the Broncos find themself in a tough draft position to obtain the best value quarterback at the 12th spot.

The Broncos currently have +185 odds to draft Bo Nix, the shortest odds in that market.

Ultimately, I think siding with this bet at +170 is the best move. Denver seems ready to get in on this class of quarterbacks, but whether they do that with the 12th pick or by trading up is another question.

Defensive Lineman/Edge (+185)

When FanDuel Research’s Skyler Carlin checked in on the positional needs for every NFL team, QB, Edge, and CB served as the glaring necessities for the Broncos.

Like clockwork, the market has set QB, Defensive Lineman/Edge, and CB as the three most likely positions for Denver to address with their first draft pick.

If we take Denver’s 12th pick for what it is and deny the trade rumors, perhaps the most pound-for-pound value can be found in drafting a Defensive Lineman/Edge.

Jared Verse (15.5 O/U draft position), Byron Murphy (16.5 O/U draft position), and Laiatu Latu (17.5 O/U draft position) are all potential options for the Broncos. Selecting one of these players first could be the best rebuilding step if Denver can’t get to their desired QB.

Cornerback (+380)

The Broncos already have one of the league’s best cornerbacks in Patrick Surtain II (2022 and 2023 Pro Bowl selection).

But when it comes time for Denver to make their selection, some of the best players on the board will likely be cornerbacks.

Quinyon Mitchell (15.5 O/U draft position), Terrion Arnold (15.5 O/U draft position), and Cooper DeJean (22.5 O/U draft position) are some of the standouts in this class.

Mitchell is probably the best option of this bunch, and CBS Sports’ latest mock draft has the Broncos going in that direction.

While a Surtain-Mitchell combo would be lethal, it would make sense for the Broncos to focus on a more holistic approach to the draft.

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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.