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PHILADELPHIA, PA - SEPTEMBER 27: Odubel Herrera was selected in the 2014 Rule 5 Draft (Photo by Mitchell Leff/Getty Images)

You might have heard the phrase "Rule 5 Draft" pop up once or twice if you've been closely following baseball lately. So what is the Rule 5 Draft, exactly? The short answer is, it's a measure taken to prevent teams from hoarding too many talented minor-leaguers. The long answer is a bit more complicated, but I've organized the information for you below. If you're a casual or new fan looking to gain some insight into an interesting baseball event, you're in the right place.

What happens during the Rule 5 Draft?

MLB teams take turns selecting eligible players from other teams' farm systems. The selections go in reverse order of that year's MLB standings. So the team that finished with the worst record would pick first, etc.

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