Chet Holmgren, the No. 2 overall pick in the 2022 NBA Draft, will miss the entire 2022-23 season due to a foot injury. With the Oklahoma City Thunder big man done for the year, one player stands out as the clear favorite to win the NBA Rookie of the Year award.

Orlando Magic forward Paolo Banchero is favored to win the award at +200 odds, according to FanDuel Sportsbook. Detroit Pistons guard Jaden Ivey and Sacramento Kings forward Keegan Murray are tied for second with +500 odds. Houston Rockets forward Jabari Smith has +600 odds.

As the No. 1 overall pick, Banchero was favored to win the award prior to Holmgren's injury. Holmgren was viewed as a bigger threat to Banchero than any other player.

One day before the news of Holmgren's injury was announced, Holmgren was the second favorite for Rookie of the Year at Caesars Sportsbook with +350 odds. Banchero was only slightly ahead of Holmgren at +280.

A seven-foot center who has the ability to shoot 3-pointers and bring the ball up the court, Holmgren might have the highest upside of any player in this year's draft class. In one year at Gonzaga, Holmgren averaged 14.1 points, 9.9 rebounds and 3.7 blocks in just 26.9 minutes per game. Holmgren shot 39.0% from three-point range and 73.7% on two-point field goals.

During his brief Summer League action, Holmgren showed why plenty of basketball experts believed he should've been the top pick in the draft. Holmgren had 23 points, seven rebounds, four assists and six blocks in his Summer League debut.

"Certainly, we are disappointed for Chet, especially given the excitement he had about getting on the floor with his teammates this season," Thunder General Manager Sam Presti said in a statement. "We know Chet has a long career ahead of him within our organization and the Oklahoma City community. One of the things that most impressed us during the process of selecting Chet was his determination and focus. We expect that same tenacity will carry him through this period of time as we work together and support him during his rehabilitation."

Scottie Barnes is the reigning Rookie of the Year. The Toronto Raptors star narrowly beat out Cleveland Cavaliers big man Evan Mobley for the honor.

A top-four draft pick has won the award in five straight seasons.

Chet Holmgren
Chet Holmgren poses before the CrawsOver Pro-Am game at Seattle Pacific University on August 20, 2022 in Seattle, Washington. Cassy Athena/Getty Images