Bucs, Colts are NFL betting favorites to sign free agent Philip Rivers

What was long suspected became reality on Monday when the Los Angeles Chargers announced they would not try to re-sign signal-caller Philip Rivers, making the 38-year-old an unrestricted free agent. That Rivers wasn't returning to the team he quarterbacked for 16 seasons became pretty evident when he moved his family from San Diego – he had been commuting to Los Angeles since the Bolts moved there – to Florida last month.

Rivers has said he wants to keep playing. Last year, he passed for 4,615 yards and 23 touchdowns -- his fewest since 2007 -- with 20 interceptions. The eight-time Pro Bowler is sixth in NFL history in both career passing yards (59,271) and touchdown passes (397). Rivers has by far the most touchdown passes in NFL history by a quarterback who has never played in the Super Bowl. He got the Chargers to the playoffs six times in his career but only one AFC title game.

The Bolts were a huge disappointment this past season at 5-11 and could take a quarterback at No. 6 overall in this year's draft. The team also has veteran Tyrod Taylor. Tom Brady might even be an option. DraftKings has an NFL prop where Brady plays next season and the Chargers are +800 third-favorites behind the Patriots (-455) and Raiders +700.

DraftKings also has a futures odds prop up on Rivers' next team, with the Bucs as +100 favorites followed by the Colts at +150 and then a deep drop to the Bears and Raiders each at +1000. Tampa Bay may be ready to move on from interception-prone Jameis Winston; then again, Rivers' 76 picks the past five seasons are second-most to Winston's 88.

The Colts reportedly would like to upgrade over Jacoby Brissett. Indy head coach Frank Reich served as Rivers' position coach and offensive coordinator from 2013-15 in San Diego.