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Of all the individual honors, the Most Improved Player award is the most ambiguous, lacking a true definition of what "most improved" looks like.

While that can make wagering on the award tricky, it also can net you a pretty penny -- provided you know where to look.

Below are the 10 players with the shortest odds to take home the 2023-24 Most Improved Player honors, followed by a breakdown of a few of the more interesting candidates.

Odds as of October 23rd, 5:00 p.m. ET.

All lines courtesy of the NBA awards odds on FanDuel Sportsbook.

Mikal Bridges (+1000)

Mikal Bridges may have the shortest odds to win Most Improved, but I still think there's value here.

Bridges exploded onto the scene after being traded to the Brooklyn Nets last season. If he only replicates his post-All-Star Break numbers, he'll have a good shot to take home the award -- just check out the difference being the No. 1 option made for him.

Bridges saw his usage rate skyrocket from 19.1% with the Suns to 29.5% with the Nets. Extrapolated over a full season, that 29.5% would've ranked 15th in the league -- right between Stephen Curry (29.7%) and Paul George (29.4%).

Yet, last year's post-trade breakout may actually hurt his MIP chances. He notably finished fourth in 2022-23 and even had a first-place vote. However, the MIP hasn't been awarded to someone who received votes the previous season since 2018-19 when Pascal Siakam took won after tying for 25th the year prior.

Tyrese Maxey (+1100)

Another guy with a natural path to the Most Improved Player award is Tyrese Maxey. Maxey's candidacy largely hinges on James Harden.

If Harden is traded (before or during the season), Maxey would likely take on a much larger role. Maxey put up 20.3 points and 4.3 assists per game on just a 23.6% usage rate last season. He was incredibly efficient for a guard, shooting 48.1% overall and 43.4% from three. Consequently, it's easy to see his numbers climbing if his role expanded.

Harden took on a 24.7% usage rate last season, so it's not inconceivable that Maxey could creep up toward 30% with him out of the picture. That would lead to an uptick in his counting stats, as well.

However, like Bridges, Maxey has already been in the running for Most Improved. He finished sixth back in 2021-22, so it's not clear exactly how voters will view another leap in production.

Payton Pritchard (+6500)

If you're looking for more of a longshot, Payton Pritchard has hefty odds but a clear path to more playing time in 2023-24.

Pritchard appeared in just 48 games for the Boston Celtics last season, averaging 5.6 points and 1.3 assists per game while shooting 41.2% overall. A career-40% three-point shooter, his combination of shooting and playmaking has produced noteworthy performances, but there just hasn't been many opportunities.

Savvy fans will remember his 30-point, 14-rebound, 11-assist triple-double in the final regular season game of last season. We can't expect that kind of performance every time he sees extended minutes, but he has a strong sample size of him putting up numbers when called up.

Over his three-year career, Pritchard has played at least 24 minutes in just 29 games. In such instances, he's averaged 13.9 points, 4.1 rebounds, and 3.7 assists while shooting 46.9% overall and 44.1% from beyond the arc.

The Celtics made some serious changes over the offseason, but it's clear they see Pritchard as a part of their long-term plans. They recently inked him to a four-year contract extension, and he's lined up to open the season as the first guard off Boston's bench.

Pritchard is far from the only enticing longshot on the board, but he hasn't yet stamped his mark on the league and, thus, makes for an intriguing darkhorse to win the Most Improved Player.

Do you think you know which NBA players are poised for an impressive 2023-24 season? Head over to FanDuel Sportsbook's NBA player stats odds market to bet season-long player stats with America's Number One Sportsbook. Be sure to check out other basketball betting options, as well.

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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.