The 2022-23 NFL regular season is right around the corner, meaning that football bettors are now filling out their full cards.
This certainly includes handicapping NFL Week 1, but it's also the time of year when bettors are locking in season-long futures and prop bets, like Super Bowl winner, regular-season win totals, over/under props and award winners.
When it comes to award winners specifically, NFL MVP is the most popular of these as bettors get down on their favorite players to contend for the prestigious honor.
Based on updated NFL MVP odds, Kansas City Chiefs quarterback Patrick Mahomes is among the favorites to win the award for a second time this season.
With this in mind, let's take a quick look at the latest Patrick Mahomes NFL MVP odds.
Patrick Mahomes NFL MVP Odds
Bills quarterback Josh Allen is currently listed as the 2022-23 NFL MVP favorite, but Mahomes is right on his heels
Both FanDuel Sportsbook and BetMGM have Allen at 7-1 to win NFL MVP with Mahomes and Tampa Bay Buccaneers quarterback Tom Brady just behind at 8-1 each.
Los Angeles Chargers quarterback Justin Herbert checks in at +850 with two-time defending NFL MVP winner, Aaron Rodgers, rounding out the top five at 10-1.
Is Patrick Mahomes a Good NFL MVP Bet?
At 8-1 odds, a winning $10 bet would payout a total of $90 – the initial $10 stake plus $80 (8 x $10) in profit should Mahomes, the 2018 winner, earn NFL MVP honors once again.
But is Patrick Mahomes a smart NFL MVP bet?
Think about it this way: Mahomes' 8-1 NFL MVP odds translate to an implied probability of 11.11%.
So if you believe there's better than an 11.11% chance that Mahomes win NFL MVP this season, then he's a smart bet at 8-1 odds.
