Philip Rivers Valuts Near Top of NFL Comeback Player of the Year Odds

Phillip Rivers is third in the odds to win NFL Comeback Player of the Year.

Indianapolis Colts quarterback Phillip Rivers. / Marc Lebryk-Imagn Images

Welcome back to the NFL, Phillip Rivers!

The Indianapolis Colts have signed the 44-year-old quarterback -- who has not played since the 2025 season -- to their practice squad on Tuesday as a potential option behind Riley Leonard following Daniel Jones' season-ending Achilles tear.

Rivers, who is currently eligible for the Hall of Fame, would have his eligibility pushed back if he's added to the team's active roster.

ESPN Sources: 44-year-old Philip Rivers, who has not played in the NFL since the 2020 COVID season, is signing to the QB-needy Indianapolis Colts practice squad. pic.twitter.com/oOIVQEY38x

— Adam Schefter (@AdamSchefter) December 9, 2025

FanDuel Sportsbook has made Rivers the No. 3 choice to win the NFL's Comeback Player of the Year in its latest odds -- even though he has not appeared in a single game this season. Rivers also isn't on an active roster, making him an insanely risky bet.

As of Tuesday afternoon, Rivers is +1200 to win the Comeback Player of the Year behind Christian McCaffrey (-135) and Dak Prescott (+125). Rivers has better odds than players like Aidan Hutchinson, Trevor Lawrence, Christian Watson and Stefon Diggs.

When it comes to the Colts, there hasn't been much movement in the latest odds.

The move to add Rivers is a desperate one for a Colts team that has lost Jones and former top-five pick Anthony Richardson to injury this season. Indy was once 8-2, but it has lost three games in a row and is currently on the outside looking in of the playoff picture in the AFC.

Adding Rivers has not changed the outlook for the Colts in the futures market at DraftKings Sportsbook, and unless the 44-year-old has a crazy showing in a game this season, the betting market likely isn't expecting him to turn around a suddenly ruined 2025 season for Indy.

The Colts fell to third in the AFC South division after the Houston Texans beat the Kansas City Chiefs on Sunday night in Week 14, and they're +225 at DraftKings to make the playoffs. Indy still has to play Seattle, San Francisco, Jacksonville and Houston (all teams currently in the playoffs) to close out the season.

Not only that, but the Colts fell from from +1400 to +13000 to win the Super Bowl in the 2025 season after Jones went down, and they remain at +13000 even after signing Rivers.

Rivers led the Colts to an 11-5 record in 16 starts in the 2020 season, completing 68.0 percent of his passes for 4,169 yards, 24 touchdowns and 11 interceptions. He's compiled a 134-106 record as a starter in the NFL, but it's hard to expect much from a player that has not been on an NFL field in five years.

The Colts may end up using Rivers only as a mentor for Leonard as he attempts to keep the team alive for a playoff spot in 2025.

---

Odds refresh periodically and are subject to change.

If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.

Claim the latest DraftKings promo code offer today. Sign up and win your first $5 bet to get $200 in bonus bets instantly.