The Washington Nationals reached a contract agreement with No. 1 overall pick Stephen Strasburg on a $15.1 million deal, which will also pay him over $7 million in bonuses.

Bet 2009 World Series Odds

The San Diego State pitcher was selected first by the last-place Nationals in June and set the mark for the most money guaranteed to a drafted player. That's been held since 2001 by pitcher Mark Prior, who received a $10.5 million, five-year contract after he was selected with the second pick, behind Joe Mauer.

Strasburg was among 16 of 32 first-round picks without announced agreements heading into the final day. Only three first-round picks apparently failed to sign, and the deadline didn't apply to one of them.

Scott Boras represented six of the unsigned first-round picks, including Strasburg and the second, third, ninth, 13th and 30th selections.

Oddsmakers from online sports book Sports Interaction recognize that the Nationals have zero chance of winning the 2009 World Series, making them 2000/1 to win baseball’s Fall Classic. Washington is also 1000/1 to win the NL Pennant.

Despite the long odds this year, the Nationals have to be thrilled that they were able to reach a deal with Strasburg, whom they hope is the future of the organization.

Bet 2009 World Series Odds

Posted: 8/18/09 12:05PM ET