Superbowl 58 Betting Odds
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All year long, the BetMGM online sportsbook offers the most popular market for NFL odds: Super Bowl odds.
Super Bowl LVIII is scheduled for next February, when the champion of the 2023 NFL season will be crowned. Kansas City, the reigning champion, is a predictable favorite. Philadelphia, the reigning NFC champion, has climbed into the No. 2 spot in the chart.
Here’s the full odds table, as of this week:
|NFL TEAM||CURRENT ODDS||OPENING ODDS|
|Kansas City Chiefs||+600||+600|
|San Francisco 49ers||+1000||+900|
|New York Jets||+1600||+2500|
|Los Angeles Chargers||+2500||+2000|
|New Orleans Saints||+4000||+3000|
|Green Bay Packers||+6600||+2500|
|New York Giants||+6600||+4000|
|New England Patriots||+6600||+5000|
|Los Angeles Rams||+8000||+3000|
|Las Vegas Raiders||+8000||+4000|
|Tampa Bay Buccaneers||+15000||+8000|
Next year’s big game – Super Bowl LVIII – will be played on Sunday, February 11, 2024.
The NFL power structure revolves around the elite young quarterbacks atop the AFC. The top NFL conference has been won by either Joe Burrow or Patrick Mahomes’ team for four straight seasons, with Josh Allen’s Bills also heavily in the mix.
Because of the three-way power struggle rotating through Buffalo, Cincinnati, and Kansas City, it’s not terribly surprising that three of the favorites for next year’s Super Bowl are the Chiefs (+600), Bills (+900), and Bengals (+1100).
Whoever wins the AFC will almost certainly be the favorite in next year’s Super Bowl.
Other AFC teams have a path, but their odds are considerably longer. The Jets’ Super Bowl odds surged in the wake of Aaron Rodgers news that ultimately led to his trade from the Green Bay Packers. The Chargers (+2500) are also lurking as a hypothetical threat.
The Ravens have moved from +2500 to +2000 on the back of the Lamar Jackson contract news. Bettors who bought low on faith that Lamar would eventually come home have been rewarded with some very nice relative market value.
The best bet in the middle of the board could be the Jaguars – now available at +3000 – whom many analysts tabbed as the next up-and-coming team after last season’s playoff run.
One of the trendiest teams of the summer has been the Miami Dolphins, who moved down from +3000 to +2000 throughout June and July. (The number has since resettled at +2500.)
At BetMGM, a July analysis of the overall market revealed that 4.5% of all Super Bowl bets and 4.9% of all Super Bowl handle were backing Miami.
Miami’s AFC championship odds have shown a commensurate move, inching up the table from +1800 to +1100. They’re currently sixth in the AFC table, behind the Chiefs (+350), Bills (+425), Bengals (+500), Jets (+1000), and Ravens (+1000).
The argument against Miami is a standard one for any mid-table AFC team: traffic. The AFC is loaded with mega-talented quarterbacks and stacked trophy cases, which means a team like Miami will need to clear a heavy field of contenders.
At +2500, Dolphins Super Bowl bettors aren’t getting the best of the number, nor are they getting an easy path to the championship. I mean, forget about the Super Bowl odds for a second – according to these football odds, the Dolphins are third in their own division.
Still, Miami has attracted some sharp attention throughout the summer, and one major reason is the new coaching staff. Mike McDaniel remains in place as the head coach and offensive brain trust, but new defensive coordinator Vic Fangio and a new cast of defensive assistants could totally revolutionize a Miami defense that had plenty of room for improvement.
PFF graded the 2022 Dolphins as 16th in overall defense and 31st in coverage.
The feeling among some bettors is that the defensive pieces that Miami has (and acquired in the offseason) are a strong fit for the aggressive system that Fangio will implement for this coming season.
If Tua Tagovailoa posts a healthy season with numbers similar to the first portion of last season, the Dolphins could be one of the most complete teams in the NFL.
The Super Bowl betting market sees the NFC as top-heavy, with only four teams currently at 10-to-1 or better just to win the conference.
Those teams are the Eagles (+260 to win the NFC/+800 to win the Super Bowl), 49ers (+400/+1000), Cowboys (+650/+1600), and Lions (+850/+2200).
The Eagles — the only team to climb in odds after the first round of the 2023 NFL Draft (+900 to +700) — and 49ers were the class of the NFC in 2022, with the Cowboys also challenging for the NFC East divisional title all the way until the end of the season.
The Lions, however, are a surprising presence this far up the board. Though the Lions didn’t make the playoffs, Detroit’s analytics-backed, go-for-it attitude evolved over the course of the season, eventually transforming the Lions into a team that few in the NFL wanted to face.
With offensive coordinator Ben Johnson returning to Detroit in 2023 and the NFC North looking as wide-open as ever, the Lions should be considered a real threat for the NFC title.
However, the real value in the NFC is likely down the board.
In a league that regularly produces worst-to-first turnaround stories and a conference odds table that 12 of 16 teams at +1200 or longer just to win the NFC, there’s a monstrous amount of value right now just in identifying the next NFC team to pop.
There are a lot of candidates.
The Giants, for example, could take the next step in challenging Philadelphia and Dallas in a loaded division. They’re +2200 to win the NFC and +6600 in the Super Bowl odds market.
The Panthers (+3500 NFC, +8000 Super Bowl) could become an instant contender if Bryce Young is the real deal.
Seattle (+1200/+3500) could make a run while tapping into the cheap quarterback formula with veteran Geno Smith. Their odds got two separate boosts up the table in May.
The Falcons (+2800/+8000) could spend in free agency and lock down home-field advantage in the playoffs simply by playing in a putrid division.
Throw a few darts in this NFC Super Bowl market because someone will emerge from this bunched-up middle class with a real chance to win the conference.
The Jets deserve their own section here, as news broke in March that forced his way to the Jets. That finally led to a deal on April 24 that sent Rodgers to the Jets for draft compensation.
New York is now an instant Super Bowl contender with the four-time NFL MVP, though the trade finalization didn’t move their Super Bowl odds from +1600. They opened at +2500 in February.
Nobody loves to bet on their team quite like Dallas fans, which is why the Cowboys Super Bowl market is always a bit square. The numbers might be shaved down a bit just to insulate against the raw volume of a nationwide, annually optimistic fan base.
Compare that against markets for the Jaguars or Chargers, who have famously apathetic fan bases and not much nationwide presence.
Still, the Cowboys should be considered as a real contender for the next couple of years. Adding a top-end defensive presence like Micah Parsons – who only costs $4.7 million in 2023 – makes Dallas a real two-way team that can score on offense and earn key stops on defense.
Money from both Ezekiel Elliott and La’el Collins’ contracts remains on the books for the 2023 season. But Dallas is finally getting close to fully moving off some of the bad contracts that have prevented the Cowboys from being a top-tier team over the last few years.
The pressure remains on quarterback Dak Prescott, who will be the seventh-highest-paid quarterback in the NFL this season.
Bettors who believe Prescott can deliver results like a top-seven quarterback may want to buy into the market now.