The Denver Broncos and head coach Sean Payton waved the white flag on the Russell Wilson era after two underwhelming seasons.
Two years into a five-year, $245 million contract, Denver released the veteran quarterback in March. Wilson went just 11-19 as a starter and averaged just 219.8 passing yards per game with Denver, who is now in the market to find a franchise quarterback.
Denver is starting from scratch on the offensive side of the ball, starting with under center. With just Jarrett Stidham and Ben DiNucci on the roster, Denver has been linked to several quarterbacks in a draft full of first-round talent at the position. Who will they take?
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Broncos move to odds-on favorite to draft Bo Nix in 2024 NFL Draft
Denver will miss out on the top quarterbacks in the draft with Caleb Williams, Jayden Daniels and Drake Maye expected to go with the top-3 picks. According to DraftKings Sportsbook, Denver is the betting favorite to take Oregon quarterback Bo Nix with the 12th overall pick in the first round at -175.
Those odds carry an implied probability of 63.64% that Nix will become the first quarterback taken by the Broncos in the first round since Paxton Lynch in 2016. Nix is the most experienced quarterback in the NFL Draft with 61 collegiate starts under his belt between his time at Auburn and Oregon.
Last season with the Ducks, Nix finished third in the Heisman Trophy voting after throwing for over 4,500 yards and 45 touchdowns.
According to the odds board, Denver is the clear betting favorite to land Nix with Minnesota (+425), Las Vegas (+500) and the New York Giants (+700) all distant longshots. With the 12th pick, Denver is sandwiched between Minnesota (No. 11) and Las Vegas (No. 13) in the draft order.
Those two teams are projected to go in a different direction. Las Vegas is the betting favorite to land Washington quarterback Michael Penix Jr. (+260) while Minnesota has been linked to Michigan quarterback J.J. McCarthy (+115). LSU wide receiver Malik Nabers is the betting favorite (+145) to be taken with the No. 6 pick, which is currently held by the Giants.
Denver Broncos projected for last-place finish in AFC West
According to DraftKings, the Broncos have a 2024 win total of just 5.5 games. Only the Carolina Panthers and New England Patriots (both 4.5) have a lower win total for this season.
Denver is a distant longshot to make the playoffs at +500 and a 15-to-1 (+1500) underdog to win the AFC West for the first time since the final season of the Peyton Manning era (2015) ended with a Lombardi Trophy.
Game odds update periodically and are subject to change.