After being seated around a table, each player simultaneously opens one booster pack, selects a single card, and then passes the rest to the next player over. After all players have drafted fifteen cards, they each open their second pack, and drafting continues (sometimes in reverse order during the second pack).
How to draft: First, players sit around a table in a semi-circle. Each player then opens a booster pack and picks a single card without showing the other players. Each player then passes the remaining cards to the left, and continues drafting from the new cards they get from the player on their right.
Rules. Winston Draft is primarily a two-player format and is best with two players but can be played by up to four. Each player must bring three boosters (or 45 cards per player).
To have a Booster Draft, you need three things: 3 Booster packs per player from the current draft format. 8 total players (It's possible to draft with fewer than 8, but 8 is the number needed for sanctioned Magic drafts) A healthy supply of basic lands.
Keep in mind that you're not allowed to look at your cards during the drafting process and after everyone is done drafting the first pack, there is a 90 second review period where you get to look at all the cards you've drafted.
You, along with everyone else at the table, open one pack each and select—"draft"—one card from that pack. Then you pass the rest of the cards to the player on your left. The packs get passed around the table until all the cards are gone. You repeat this process for the second pack, passing to the right.
Choose someone to draft first, then put the top three cards from the deck face down next to it as three new small piles of one card each. The first player looks at the first small pile. He may choose to draft that pile or not. If he drafts it, he replaces that pile with a new face-down card from the deck.
8 total players (It's possible to draft with fewer than 8, but 8 is the number needed for sanctioned Magic drafts)
All you need is 6 packs for each player, so you could certainly do that to practice in advance of a prerelease, since it's the same format (apart from the fact that you'd be doing it with a set besides MOM). You just open your 6 packs each an make a 40 card deck out of what you open, plus basic lands.
You'll receive rewards based on how many wins you earn and you get to keep all the cards you choose!