NFL Draft Betting: Which Position Will the Colts Draft With Their First Pick?

After narrowly missing the playoffs in 2023, the Indianapolis Colts have the 15th in the upcoming NFL Draft.

With the 2024 NFL Draft right around the corner, we can get into the action thanks to the NFL Draft odds at FanDuel Sportsbook.

Among the plethora of markets available for the NFL Draft, FanDuel has odds for which position each will take with their first pick.

Let's dive into which position the Colts are favored to draft with their first pick.

Odds via the NFL odds at FanDuel Sportsbook and may change after this article is published.

NFL Draft Odds

Cornerback (+115)

Indianapolis has several positions of need ahead of the 2024 season, but cornerback is a +115 favorite to be the position of their first drafted player.

Last season, the Colts ranked a respectable 17th in schedule-adjusted pass defense, per numberFire's metrics. They finished 15th in opponent completion percentage (65.1%), 23rd in yards per attempt allowed (7.3), and 21st in EPA per drop back allowed (-0.02), per Next Gen Stats.

Every team could use secondary help in today’s pass-happy NFL, but the Colts may be even more DB-needy given the state of the AFC South. The Jacksonville Jaguars and Houston Texans have both drafted franchise QBs in recent years, and Houston figures to have one of the league's top receiving corps next season. Heck, even the Tennessee Titans feature a pair of established perimeter wideouts.

At pick No. 15, the Colts have several options for corner. Peter Schrager's latest mock draft doesn't have a corner being drafted until pick No. 11, and there doesn't seem to be a consensus top cornerback.

Per the First Cornerback Drafted market, Quinyon Mitchell (-125), Terrion Arnold (+105), Cooper DeJean (+1500), and Nate Wiggins (+2000) are some of the top names that could be available at No. 15. Kool-Aid McKinstry (-230 to be a first-round pick) is an option, too.

Wide Receiver (+300)

After taking Anthony Richardson with the No. 4 pick in last year’s draft, it would make sense to pair him with a first-round wide receiver.

Ahead of the 2024 draft, Indianapolis does have a few capable pass-catchers. Michael Pittman Jr. inked a three-year extension in March while 2023 third-round pick Josh Downs enjoyed a productive, albeit injury-riddled, rookie year.

Still, this is another deep WR class, especially at the top. If someone like Rome Odunze were to fall to No. 15, he’d be a lovely pairing alongside Pittman.

There's also a chance the Colts could trade up to acquire one of the top three wideouts. Schrager's latest mock has Indy moving up to No. 9 and selecting Malik Nabers, but the NFL insider floated they could even move up further to try for Marvin Harrison Jr. on the Pat McAfee Show.

A trade would likely be necessary to secure one of those top three. Odunze is -1350 to be a top 10 pick, while Nabers (+155 to be a top 5 pick) and Harrison (-1800) both could go in the top five.

If the Colts stayed at No. 15 or traded down, there are still viable first-round receivers to choose from.

Brian Thomas Jr. has a draft position over/under set at 16.5 and is mocked to go No. 20 in Shrager's latest mock. Schrager also has Adonai Mitchell (-700 to be a first-round pick), Xavier Worthy (-195), Ladd McConkey (+150), and Ja'Lynn Polk (+350) going in the first round, too.

Tight End (+300)

Of the three positions Indianapolis is favored to select first, tight end is perhaps the most fun.

The Colts have utilized a tight end by committee approach in recent years. And while guys like Mo Alie-Cox, Kylen Granson, and Andrew Ogletree have flashed in spurts, none have proved capable of consistently being a No. 1 tight end.

Unless Indy traded out of the first round, Georgia's Brock Bowers would be the TE of choice here. Bowers is +160 to go in the top 10 while his draft position over/under is set at 12.5 in FanDuel Sportsbook.

Will Brock Bowers be a top-12 pick?

That's to be determined. The Colts may have to trade up to get him, though Bowers -- with the eighth-best draft grade via NFL.com -- certainly looks the part of a franchise pass-catcher.

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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.