The NFL's Most Valuable Player award has favored quarterbacks over the years, and it appears that will remain the case in 2024. Each of the last 11 NFL MVP winners were quarterbacks with Adrian Peterson being the last non-quarterback to take home the hardware in 2012.

With the preseason getting underway, FanDuel Sportsbook is offering a variety of betting markets via the NFL odds. Upon diving into the 'Season Awards' tab on FanDuel, it's interesting to look at the NFL Regular Season MVP odds.

Will Patrick Mahomes win his third MVP trophy as the favorite once again? Or will another player emerge from the pack to be named the next MVP?

Let's dive into the NFL MVP odds and discuss the best bets for the 2024 season.

NFL Most Valuable Player Best Bets

Josh Allen, Bills (+800)

There is uncertainty surrounding the Buffalo Bills' offense entering the upcoming season after the team traded Stefon Diggs and watched Gabriel Davis walk in free agency. While the Bills have replaced Diggs and Davis with rookie Keon Coleman and veteran Curtis Samuel, this is a chance for Josh Allen to prove he's undoubtedly an elite quarterback.

In each of his last four seasons, Allen has thrown for 4,200-plus yards and 29-plus touchdowns. Just a season ago, Allen registered an impressive 0.12 expected points added per drop back, 53.6% passing success rate, and 1.3% completion rate over expected across the 19 games he played (including the playoffs), via NextGenStats.

Besides being able to put up similar passing numbers as Mahomes, Allen can gain an edge with his rushing production. Allen has rushed for fewer than 500 yards just once in his six-year career, and he's coming off a 2023 campaign where he found the end zone 15 times with his legs.

Even though there are concerns with Joe Brady's offense being more run-oriented and the Bills lacking a definitive No. 1 receiver, Allen is more than capable of overcoming those concerns. Limiting turnovers will also be crucial for Allen to make a case for MVP as he's thrown 14-plus interceptions in each of the last three years.

Joe Burrow, Bengals (+1000)

Joe Burrow dying his hair blonde is not the reason he is included within this article. Although it's nice to see Burrow taking a direct approach upon coming back from multiple injuries, there are plenty of reasons to like the franchise quarterback of the Cincinnati Bengals in the NFL MVP race.

After dealing with an ankle injury in training camp last year, it was a wrist ailment that would sideline Burrow for the final seven games of the 2023 season. Following a slow start in his first four starts last year, we saw a five-game stretch for Burrow from Week 5 to Week 10 where he logged 0.10 expected points added per drop back, 53.1% passing success rate, and a fantastic 5.2% completion rate over expected.

While the Bengals lost Tyler Boyd in free agency, this could be the last year Burrow has the talented duo of Ja'Marr Chase and Tee Higgins at his disposal with Higgins playing on the franchise tag in 2024. In the two seasons where Burrow started in 16 games, he accrued 4,400-plus passing yards and 34-plus passing touchdowns while finishing fourth in MVP voting in 2022.

Trading Joe Mixon to the Houston Texans could also lead to Burrow being leaned on more through the air this season. Assuming Burrow can overcome his injury woes from a season ago and remain healthy, he'll have a decent shot at winning his first MVP trophy in 2024.

Jordan Love, Packers (+1400)

There is a ton of hype and buzz surrounding Jordan Love and the Green Bay Packers entering the 2024 campaign -- and I'm also buying stock in Love and the Packers. It was understandably an up-and-down start to last season for Love in his first year as the starter in Green Bay, recording -0.08 expected points added per drop back, 44.8% passing success rate, and -5.1% completion rate over expected in his first nine contests.

However, Love was utterly dominant in his final 10 starts (including the playoffs), improving to 0.23 expected points added per drop back, 51.6% passing success rate, and 2.1% completion rate over expected during that span. As a result, the Packers signed Love to a four-year, $220 million contract extension recently.

Despite not having a clear No. 1 wideout to target, Green Bay's offense is littered with talented receivers like Jayden Reed, Romeo Doubs, Christian Watson, and Dontayvion Wicks. Moving on from Aaron Jones likely hurt fans of the Packers, but the team was able to replace the veteran back with Josh Jacobs, who led the NFL in rushing in 2022.

Our own Riley Thomas believes the Packers have what it takes to win the NFC North in 2024, and that scenario likely involves Love having a special season under center. If Love can replicate his production in the latter part of the 2023 campaign, he'll be firmly entrenched in the NFL MVP discussion.

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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.