Super Bowl Odds Report, Trends: Everything You Need to Know

Super Bowl odds for 2023-24 are starting to perk up, with the regular season now underway. In fact, there's already been a change at the top.

The defending Super Bowl champion Kansas City Chiefs are no longer the favorite to win the Super Bowl. That honor goes to the San Francisco 49ers.

Here's everything you need to know about 2023-24 Super Bowl odds: action, line movement and betting trends. Check back regularly for updates.

Super Bowl 58 Odds

How 'Bout Them Cowboys?

The Dallas Cowboys made a big first impression in Week 1. Going on the road, Dallas pounded the New York Giants 40-0. In Week 2, the Cowboys faced the Aaron Rodgers-less New York Jets and breezed to a 30-10 victory.

As such, Caesars Sports now has Dallas as the +800 fourth choice on the Super Bowl futures odds board. That's behind only the aforementioned 49ers (+650), Chiefs (+700) and Philadelphia Eagles (+750).

"Dallas obviously has looked pretty good. The Cowboys have taken care of the state of New York or New Jersey," Caesars assistant director of trading Adam Pullen said. "This is a public team that's always going to draw money. Throw in impressive results, and the Cowboys are gonna get more people's attention."

Way back in February, when this market first went up, the Cowboys were +1600. Prior to Week 1, when Dallas was also +1600, a Caesars customer put $100,000 on the Cowboys to win the Super Bowl. If Dallas gets its done, that bettor would win $1.6 million.

Updated on 11/15/2023

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Miami Nice

The Miami Dolphins, also 2-0, are attracting early-season attention, as well.

"The Dolphins have looked good. They're definitely a team that a few people were looking at before the season. But there was concern about how Tua Tagovailoa was gonna come back," Pullen said, alluding to the Miami QB's concussion issues in the second half of last season.

Tagovailoa and the Dolphins responded nicely in Week 1 with a noteworthy 36-34 road win over the Los Angeles Chargers. Then in Week 2 at New England, Miami notched a 24-17 victory.

"Any team that's 2-0 is gonna get attention and wagers," Pullen said. "But we're in a good spot on the Dolphins."

Miami opened +3500 and has sliced that price to +1400, the seventh choice in Caesars' odds to win the Super Bowl.

Ticket Takers and Money Makers

While Miami and Dallas are trending of late, a few teams have consistently taken wagers for months in Caesars' Super Bowl odds market. No surprise, the Chiefs are No. 1 in ticket count, followed by the Eagles and the Cincinnati Bengals.

Pullen noted the top three teams are all close in tickets, followed by the New York Jets at No. 4.

San Francisco is taking the most money, with K.C., Philly, Dallas and Cincinnati rounding out the top five.

"The Cowboys are the worst-case scenario of all those teams for us," Pullen said, before moving on to the Jets, who are also a significant liability but are now without Rodgers. "That Jets liability isn't going anywhere yet, but it might be a quick fall from grace for them."

The Pittsburgh Steelers are the second-largest liability at Caesars, but have slipped from their +3500 opener to +5000. San Francisco and Baltimore are also liabilities, with the Ravens all the way up to +1100 after opening +3500.

Pullen noted that while the Niners are the favorite, several teams are certainly in the mix near the top. And others could be on the way.

"There are only a few teams you can look at as throw-outs at this point," Pullen said. "We've got seven teams at 14/1 or less. That shows you how balanced it is in Week 2."

Cincinnati (0-2) was in that 14/1-or-less group before QB Joe Burrow re-aggravated a calf injury in a Week 2 loss to Baltimore. Burrow's injury is likely not a long-term issue, but the Bengals are now out to +2000.

Flying Under the Radar

Looking down the Super Bowl futures board a bit, Pullen pointed to two teams that might have some value now.

The Jacksonville Jaguars are 1-1, but that loss was to Kansas City, so no shame there. The Jags made the playoffs last season, beating the Chargers in the Wild Card round before losing at K.C.

Jacksonville opened +2800 at Caesars and remains there heading into Week 3.

"The Jaguars might be a good midrange team. They made it a little difficult on the Chiefs," Pullen said of keeping Patrick Mahomes and Co. mostly in check in a 17-9 loss. "A lot of people are high on the Falcons, as well."

Atlanta is 2-0, winning home games over the Carolina Panthers and Green Bay Packers. The Falcons were a lengthy +8000 to open and have cut those odds by more than half, sitting at +3500.

The Cleveland Browns posted a stunning 24-3 Week 1 home rout of the Bengals. Pullen had the Browns on his under-the-radar list prior to running back Nick Chubb's season-ending knee injury in a Week 2 loss at Pittsburgh.

Before that game, Cleveland was the +1800 eighth choice at Caesars.

"The Browns have always been a popular choice. With Nick Chubb, they're a solid team. They looked impressive against Cincinnati," Pullen said.

Without Chubb, though, Cleveland slid to the +2800 co-10th choice, joined by the Jags, Chargers and New Orleans Saints. The Browns opened +4500.

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