Week 1 of the 2023 NFL regular season is still a couple of months away, but it's never too early to check out the updated NFL MVP odds. Last season, the NFL MVP was a two-player race between Kansas City Chiefs QB Patrick Mahomes and Philadelphia Eagles QB Jalen Hurts -- with Mahomes ultimately walking away with his second MVP award.
Mahomes had a record-breaking 2022 season with the Chiefs as he completed a career-high 67.1 percent of his passes for 5,250 yards, 41 touchdowns, and 12 interceptions. The superstar QB added a career-best four rushing TDs as he led the Chiefs to a 14-3 record. Meanwhile, Hurts had a fantastic 2022 campaign with the Eagles, as he looked like a completely different QB from 2021. He completed a career-high 66.5 percent of his passes for 3,701 yards, 22 touchdowns, and six interceptions. Hurts also added 760 rushing yards and 13 rushing touchdowns (career-high).
Based on their 2022 performances, you would think that Mahomes and Hurts would be the favorites to win the MVP this season. However, that's not the case, as Cincinnati Bengals star QB Joe Burrow and Mahomes are the betting favorites to win league MVP, according to BetMGM. After Burrow and Mahomes, Bills star QB Josh Allen has the third-best odds (+750), followed by Justin Herbert (+900) and Jalen Hurts (+1000).
Below we'll look at the updated betting odds on the 2023 NFL MVP and BetMGM's insights on how the public is wagering on the action before training camp.
NFL MVP Odds 2023
Odds courtesy of BetMGM. Click here for more odds and sign up for BetMGM today!
| Player | Odds |
| Joe Burrow | +650 |
| Patrick Mahomes | +650 |
| Josh Allen | +750 |
| Justin Herbert | +900 |
| Jalen Hurts | +1000 |
| Tua Tagovailoa | +1400 |
| Trevor Lawrence | +1400 |
| Aaron Rodgers | +1400 |
| Dak Prescott | +1600 |
| Lamar Jackson | +1600 |
| Justin Fields | +1800 |
| Jared Goff | +2500 |
| Trey Lance | +2500 |
| Deshaun Watson | +3000 |
| Brock Purdy | +3000 |
| Geno Smith | +3000 |
| Russell Wilson | +4000 |
| Derek Carr | +4000 |
| Jordan Love | +5000 |
| Kyler Murray | +5000 |
| Kenny Pickett | +5000 |
| Matthew Stafford | +5000 |
| Kirk Cousins | +5000 |
| Daniel Jones | +5000 |
| Mac Jones | +6600 |
| Sam Howell | +8000 |
| Jimmy Garoppolo | +8000 |
| Justin Jefferson | +10000 |
| Ryan Tannehill | +10000 |
| Tyreek Hill | +10000 |
| Micah Parsons | +10000 |
| Cooper Kupp | +10000 |
| Myles Garrett | +10000 |
| Deebo Samuel | +10000 |
| Ja'Marr Chase | +10000 |
| Christian McCaffrey | +10000 |
| Baker Mayfield | +10000 |
| Derrick Henry | +12500 |
| Desmond Ridder | +15000 |
| Bailey Zappe | +15000 |
| Saquon Barkley | +15000 |
| Travis Kelce | +15000 |
| Zach Wilson | +20000 |
| Stefon Diggs | +20000 |
| CJ Stroud | +20000 |
| Davante Adams | +20000 |
| Nick Bosa | +20000 |
| CeeDee Lamb | +20000 |
| Bryce Young | +25000 |
| T.J. Watt | +25000 |
| Aaron Donald | +25000 |
| Carson Wentz | +25000 |
| George Kittle | +25000 |
Mahomes and Burrow are the betting favorites to win the MVP (+650) this upcoming season, which isn't a surprise as both quarterbacks have played in the past two Super Bowls. Mahomes already has two MVPs under his belt, while Burrow has been one of the best QBs in the NFL over the past two years and has the Bengals in the Super Bowl conversation.
With Mahomes and Burrow leading the pack, bettors might be tempted to take a flier on Herbert (+900) or Hurts (+1000) to win MVP for slightly better value. However, Herbert may be overvalued in the MVP market, with the Chargers adding Kellen Moore as their offensive coordinator in the offseason. Last season, the 25-year-old quarterback completed 68.2 percent of his passes for 4,739 yards, 25 touchdowns, and 10 interceptions. Herbert's completion percentage improved from his first two seasons in the NFL, but his TD passes went down by 13 from 2021 (38).
For Herbert to get into the MVP conversation this season, he'll have to throw for 30-35 touchdowns and have the Chargers in the conversation for the AFC West title. Is it possible for him to have a great offensive season? Yes, especially with Moore crafting a new scheme and having a good group of skilled position players. However, it's hard to fathom Herbert leading the Chargers to an AFC West crown with a healthy Mahomes leading the Chiefs. Therefore, bettors would be better off waiting to see how Herbert and the offense look through the first few weeks of the regular season.
NFL MVP Odds 2023: BetMGM Market Report
| Player | Odds | Ticket% | Handle% |
| Jalen Hurts | +1000 | 14% | 11.2% |
| Joe Burrow | +650 | 11% | 13.7% |
| Justin Fields | +1800 | 9.3% | 8.4% |
| Lamar Jackson | +1600 | 8.9% | 9.2% |
| Patrick Mahomes | +650 | 8.7% | 15.3% |
| Trevor Lawrence | +1400 | 6.5% | 4.9% |
| Aaron Rodgers | +1400 | 6% | 6.3% |
| Jared Goff | +2500 | 4.8% | 3.7% |
| Josh Allen | +750 | 4.6% | 4.1% |
| Justin Herbert | +900 | 2.6% | 8.3% |
| Russell Wilson | +4000 | 2.2% | 1.6% |
| Deshaun Watson | +3000 | 2.1% | 1.4% |
| Justin Jefferson | +10000 | 1.9% | 1.3% |
| Tua Tagovailoa | +1400 | 1.6% | 1.1% |
| Trey Lance | +2500 | 1.6% | 1% |
| Christian McCaffrey | +10000 | 1.4% | 0.8% |
| Josh Love | +5000 | 1.3% | 0.8% |
| Kenny Pickett | +5000 | 1.2% | 1.2% |
| Derrick Henry | +12500 | 1.1% | 0.8% |
| Derek Carr | +4000 | 0.8% | 0.7% |
| Bryce Young | +25000 | 0.6% | 0.4% |
| Kirk Cousins | +5000 | 0.6% | 0.2% |
| Daniel Jones | +5000 | 0.5% | 0.9% |
| Mac Jones | +6600 | 0.5% | 0.3% |
| Dak Prescott | +1600 | 0.5% | 0.2% |
| Nick Bosa | +20000 | 0.5% | 0.1% |
| Kyler Murray | +5000 | 0.5% | 0.2% |
| Micah Parsons | +10000 | 0.5% | 0.2% |
| T.J. Watt | +25000 | 0.5% | 0.3% |
| CJ Stroud | +20000 | 0.4% | 0.1% |
| Ja'Marr Chase | +10000 | 0.4% | 0.1% |
| Matthew Stafford | +5000 | 0.3% | 0.2% |
| Jimmy Garoppolo | +8000 | 0.3% | 0.1% |
| Travis Kelce | +15000 | 0.3% | 0.1% |
| Brock Purdy | +3000 | 0.3% | 0.1% |
| Geno Smith | +3000 | 0.3% | 0.1% |
| Tyreek Hill | +10000 | 0.2% | 0.1% |
| Saquon Barkley | +15000 | 0.2% | 0.1% |
| George Kittle | +25000 | 0.2% | 0.0% |
| Sam Howell | +8000 | 0.1% | 0.1% |
| Baker Mayfield | +10000 | 0.1% | 0.0% |
| Davante Adams | +20000 | 0.1% | 0.0% |
| Cooper Kupp | +10000 | 0.1% | 0.0% |
| Aaron Donald | +25000 | 0.1% | 0.0% |
| Carson Wentz | +25000 | 0.1% | 0.0% |
| Deebo Samuel | +10000 | 0.1% | 0.0% |
| Desmond Ridder | +15000 | 0.1% | 0.0% |
| Bailey Zappe | +15000 | 0.1% | 0.0% |
| Ryan Tannehill | +10000 | 0.0% | 0.0% |
| Myles Garrett | +10000 | 0.0% | 0.0% |
| Zach Wilson | +20000 | 0.0% | 0.0% |
| Stefon Diggs | +20000 | 0.0% | 0.0% |
| CeeDee Lamb | +20000 | 0.0% | 0.0% |
Hurts is receiving the most attention from the public, despite not being one of the top-three favorites for MVP. He's getting 14 percent of the tickets, which is not surprising based on his 2022 performance. Hurts has 10/1 odds to win the MVP after finishing second behind Mahomes. Bettors wagering on Hurts at +1000 must see value in a quarterback who has consistently improved every year.
After Hurts, Burrow has the second-highest ticket percentage (11%) to win NFL MVP as the Bengals were on the doorstep of returning to the Super Bowl for the second-straight season. With the public throwing support behind Burrow, bettors might be scared to place a wager. However, the former LSU standout has shown over the past two years that he's the real deal and is worth betting on +650. If Burrow has a good training camp and an excellent start to the regular season, his odds will quickly shorten.
Lastly, Bears QB Justin Fields is receiving a lot of buzz this offseason after his ridiculous 2022 season. The 24-year-old has the third-highest ticket percentage (9.3), which is higher than former MVPs Lamar Jackson (8.9) and Patrick Mahomes (8.7). However, Fields is only receiving 8.4 percent of the handle. The young dual-threat quarterback completed 60.4 percent of his passes for 2,242 yards, 17 touchdowns, and 11 interceptions in 2022. He also had an incredible year on the ground, totaling 1,143 yards and eight scores. It was one of the surprise stories of last season, leaving bettors to think Fields could take another leap this season.
Fields' MVP odds opened up at +3000 and have quickly moved to +1800 ahead of training camp. With such a big shift, bettors might feel pressured to place a wager on the young QB. However, the best move is to wait and see how training camp and preseason go for Fields. The Bears added D.J. Moore to their wide receiver unit, which should help Fields' passing numbers. That being said, the jury is still out on the young quarterback and if his performance last season was a flash in the pan. Fields is uber-talented and plays in a division that many believe is up for grabs, making him a trendy MVP pick.