Draft gambling

I heard that some people get together and actually bet on the picks for the first round. I am trying to create some fun at my house when I watch the draft. So correct me if the rules to this game are wrong so that I have all the information correct on Saturday.

1st round picks 2-32
for each selection everyone puts in one dollar.
everyone writes down who they feel the pick for the selection
who ever is right gets either the whole jackpot for that round
if people tie, the money is split between the # of people tied (30 players, 30 bucks, 5 people tie, each gets 6 bucks.)

or does it work by all 30 taking turns to select who is going to be the selection? After you make your pick that pick cannot be selected by any other participant, and you place that into a basket. Once all selections are entered basket is passed around and anyone can draw any of the names selected. Whoever has the winning name, wins the entire jackpot for that selection.

What do you think?

100-1 - A strand of Mel Kiper's hair moves out of place
1-1000 - Kiper says "upside" a dozen times in the 1st round
100,000-1 - Berman doesn't say "A little birdie told me..."
1,000,000-1 - ESPN doesn't go to commercial when the Texans pick comes up

Lucky said:

100-1 - A strand of Mel Kiper's hair moves out of place
1-1000 - Kiper says "upside" a dozen times in the 1st round
100,000-1 - Berman doesn't say "A little birdie told me..."
1,000,000-1 - ESPN doesn't go to commercial when the Texans pick comes up

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LOL, seriously though how does this game work?

I think you do it either way. The easiest would be the first way.

PapaL said:

I think you do it either way. The easiest would be the first way.

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I was thinking that the first is the best and probably most fair way to do it also.