With the 2022 NBA Draft officially in the books, it’s a great time to look at the early odds for the 2023 NBA Rookie of the Year award. Before the draft began on Thursday, Paolo Banchero was the betting favorite to win the award at +300 on DraftKings.

Those odds did not change after the draft, as Banchero, Jabari Smith Jr., and Chet Holmgren are the top choices to win the award next season. Banchero went No. 1 to the Magic, followed by Holmgren going No. 2 to the Thunder, and Smith Jr. going No. 3 to the Rockets.

Jaden Ivey, Keegan Murray, Bennedict Mathurin, Johnny Davis, and Ochai Agbaji are other rookies who will make some noise and could be excellent value plays. Below, we’ll break down the odds for Rookie of the Year favorites and discuss some of our favorite sleepers in the Association.

NBA Rookie of the Year 2023 odds

NBA Rookie of the Year 2023 favorites

Betting odds courtesy of FanDuel Sportsbook

Paolo Banchero, Magic (+350). As previously mentioned, the former Duke standout is the odds-on favorite to win Rookie of the Year this upcoming season. If Banchero were to win the award, he would be the first Magic player to do it since Mike Miller in 2000-01.

The 19-year-old forward will play a lot for a Magic squad that is still rebuilding. Banchero was one of the best players in college basketball last season, averaging 17.2 points, 7.8 rebounds, and 3.2 assists per game. He can put the ball on the floor and shoot it from the perimeter (47.8 percent from the field and 33.8 percent). The Magic have a lot of talented young players on the roster, but Banchero could easily lead them in scoring, which goes a long way in ROY voting.

Chet Holmgren (+480) and Jabari Smith Jr. (+420) will likely start and be asked to do a lot for their respective teams, too, but Banchero is the most bankable point producer.

NBA Rookie of the Year 2023 sleepers

Bennedict Mathurin, Pacers (+1500). The Pacers added another outstanding player to their rebuild in the draft with the selection of Mathurin. The 6-foot-6 wing enters into a situation where he should be productive playing alongside Tyrese Haliburton, who had massive assist performances last season.

Mathurin is athletic and can score in multiple ways on the floor. He averaged 17.7 points, 5.6 rebounds, and 2.5 assists per game this past season at Arizona, and if the Pacers can trade Malcolm Brogdon, that should open up a starting spot for the rookie as Haliburton slides to point guard. At +1500 odds, Mathurin is a solid sleeper option, as we saw Chris Duarte play a lot in his first season under head coach Rick Carlisle.

Dyson Daniels, Pelicans (+2000). The 19-year-old guard is another sleeper candidate to consider placing a wager on for Rookie of the Year. Daniels is stepping into a similar position that Scottie Barnes did last season for the Raptors.

Both guys are on playoff-contending teams and won’t have to be the second or third scoring options. New Orleans will bring Daniels along slowly, but head coach Willie Green will not be afraid to play the young guard. Green played fellow rookies Herbert Jones, Jose Alvarado, and Trey Murphy III in the playoffs. Daniels should thrive immediately on defense, as he can defend multiple spots on the floor and potentially play some backup point guard minutes for the Pelicans. If he can score a decent number of points, perhaps because of injury to one of New Orleans' primary scorers, Daniels has an outside shot.

More Rookie of the Year sleepers to consider: Keegan Murray, Kings (+1100); Shaedon Sharpe, Trail Blazers (+1800)

NBA Rookie of the Year 2023 long shots

Johnny Davis, Wizards (+3200). Davis is being viewed as a long shot by the oddsmakers despite being the No. 10 overall pick in the draft. Davis was one of the best guards in the Big Ten this past season, averaging 19.7 points and 8.2 rebounds per game. It was a massive improvement from what Davis did in his freshman year in 2020-21 (7.0 points and 4.1 rebounds per game).

Davis can finish in transition and create his own offense using the mid-range game, which Washington can use. If you look at the Wizards’ depth chart, they don’t have another shot creator outside of Bradley Beal, who is no sure bet to finish the season in D.C. The last time Washington had someone win Rookie of the Year was Wes Unseld in 1968-69 for the Baltimore Bullets.

Ochai Agbaji, Cavaliers (+3600). Agbaji is the perfect player for the Cavaliers, who needed a three-and-D wing who can score. This past season, Cleveland had Isaac Okoro and Lamar Stevens at the small forward spot, both of whom are more defensive-minded.

Agbaji can offset their lack of offense and be an immediate rotation player. The 22-year-old wing shined in his last year at Kansas, averaging 18.8 points, 6.0 assists, and 5.1 rebounds per game. He also shot 41 percent from deep and was one of the better catch-and-shoot players in college basketball this past season. Agbaji should thrive on one of the better young teams in the league that should be in the playoffs this upcoming season.

More Rookie of the Year long shots to consider: Jalen Williams, Thunder (+4000); Mark Williams, Hornets (+5500)