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Rookie quarterback Anthony Richardson features prominently in our Indianapolis Colts betting preview.
Anthony Richardson celebrates after being selected by the Indianapolis Colts during the 2023 NFL Draft at Union Station on April 27, 2023 in Kansas City, Missouri. Photo by David Eulitt Getty Images via AFP.

The Indianapolis Colts have a fresh look at quarterback, and the team heads into Week 1 with a splash of renewed hope. Sportsbook Review betting analyst Neil Parker has crunched the numbers for the available markets and shares his predictions and picks in our Colts betting preview focused on the latest NFL futures odds from our best sports betting apps.

The veteran quarterback carousel has finally stopped, and the Indianapolis Colts have put their future in the hands of the athletically gifted Anthony Richardson.

The Richardson era will begin in Week 1, and he will look to return the franchise to prominence just like Peyton Manning and Andrew Luck did before him.

Indianapolis is also handing the reins over to first-year head coach Shane Steichen, so there’s plenty of unpacking with the Colts. One thing is sure, though. Failing to improve on last season’s 4-12-1 record will be tough to do.

Check out our 2023 Indianapolis Colts betting preview based on the odds from our best live betting sites (pick confidence based on a 1-to-5-star scale). 

Colts betting preview 2023

All Colts betting preview picks as of Aug. 15.

Colts to win Under 6.5 games (+110 via DraftKings) ⭐

(Odds as of Sept. 1)

OutcomeDraftKingsFanDuelBetMGMCaesarsbet365
Over 6.5-130 ❄️-118-120-110 🔥-125
Under 6.5+110 🔥-104+100-110 ❄️+100

Our best sports betting sites are on point with my numbers, and there isn’t a lot of value to be plucked from the Indianapolis 6.5 win total. I have the Colts projected for 6.7 wins, and my price for the Under 6.5 is +104.

It adds up to a short positive expected value of 3% for the +110 through DraftKings.

However, my projections do showcase the Over 6.5 as a clear stayaway. The best price for the Over 6.5 wins is -115 through Caesars, and I have it at -104, which equals a negative expected value of 5%.

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Colts division finishing position: 3rd (+200 via DraftKings) ⭐⭐

(Odds as of Sept. 1)

MarketDraftKingsFanDuelBetMGMCaesarsbet365
To win Super Bowl+15000+10000+15000  +12500+12500 
To win AFC+7000+6500 ❄️+8000 +8000+6600 
To win AFC South+600+550+550+700 🔥 +600

I have the Colts with the third-longest odds to win the AFC South at +736 and giving them just a 12% chance of taking down the division, so there's no edge in the available odds across our best sportsbooks.

While Indianapolis will be hard pressed to leapfrog both the Jacksonville Jaguars and Tennessee Titans, I have no fear of them holding off the Houston Texans to finish third in the AFC South. 

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Anthony Richardson Over 2,475.5 passing yards (-112 via FanDuel) ⭐⭐⭐

I don’t expect Richardson’s unrivaled athleticism to chill on the Indy sideline long. He’s a raw, 21-year-old prospect and rookie peaks and valleys are ahead, but it’ll be coaching malpractice for the best athlete on the team to be handling the clipboard instead of the football.

The available passing-yards totals don’t align with Richardson playing all 17 games, and in fact, it’s not required for him to skyrocket over the low benchmark FanDuel is hanging.

I have Richardson projected for 2,783 passing yards, so there are currently no bad bets on the board. There’s just an incredibly cushy total to capitalize on through FanDuel.

DraftKingsFanDuelBetMGMCaesars
Over total2,600.52,475.52,599.52,571.5
Over odds-120-112-120-115
My Over odds-165-234-165-181
Expected Value14%33%14%16%

Editor’s note: FanDuel has moved the total for Anthony Richardson’s passing yards to 2,700.5 (-112) as of Sept. 1.

Coach of the Year: Shane Steichen (+2500 via DraftKings) ⭐

After calling plays for the NFC Champion Philadelphia Eagles last season, Steichen will take his talents to Indy for his first foray as a head coach. And, at least offensively, the setup is far better than you’d expect from a team coming off a 4-12-1 record.

Steichen will have a physically gifted phenomenon at his disposal behind center, and the AFC South isn’t a who’s who of Super Bowl contenders. If Indianapolis can punch a playoff ticket, Steichen will be in the thick of the Coach of the Year conversation.

With that in mind, this bet is another way to cash in on Indianapolis rebounding from a terrible 2022 season – and at much longer odds in this case.

Colts Over 340.5 regular season total points (-110 via DraftKings) ⭐⭐

Only the Arizona Cardinals have a lower regular-season points total than Indy, and the Colts have the third-shortest odds (+1100) through DraftKings to finish as the lowest-scoring team in the NFL.

Indianapolis put 289 points on the board last season with quarterbacks Matt Ryan, Sam Ehlinger and Nick Foles combining for the league’s worst pass DVOA, per Football Outsiders.

The Richardson-Steichen combo has sneaky potential, and the Colts are a ripe rebound candidate after underachieving considerably in 2022.

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