Super Bowl odds hit the board Sunday night, once the matchup was set between the San Francisco 49ers and Kansas City Chiefs. And it didn’t take long for bettors to put money behind their opinions.
Foremost among those opinions: That Kansas City, a short underdog, will win Super Bowl 58 outright on Feb. 11 in Las Vegas.
“It’s all Chiefs moneyline bets,” BetMGM Nevada’s Scott Shelton said of early wagering. “We hope they are right.”
That’s because BetMGM, in Nevada and nationwide, has significant liability to a 49ers Super Bowl victory. As Shelton also said over the weekend:
“We need the Niners to disappear.”
Shelton and several other bookmakers, in Vegas and across the country, talked Super Bowl 58 odds and broke down the NFL betting weekend that was in the AFC and NFC championship games.
Super Close Spread
San Francisco didn’t look good in letting Detroit dart to a 24-7 halftime lead in the NFC Championship Game. And even though the Niners – who closed as 7-point favorites – had a huge second half to win 34-31, early Super Bowl bettors seemed more impressed by Kansas City’s 17-10 upset at Baltimore in the AFC Championship Game.
Shelton said BetMGM opened the 49ers as 2.5-point favorites against the Chiefs. Shortly thereafter, on Sunday night, the line backed up to San Fran -1. Bettors were taking +2.5/+2/+1.5 with Kansas City, and they were also – as Shelton alluded to – taking K.C. on the moneyline in the +110/+115 range.
Adam Pullen, assistant director of trading for Caesars Sports, said his shop was seeing similar activity. Caesars opened San Fran -2 on its Super Bowl odds board.
“The early action is showing a steady stream of money [going] the Chiefs’ way, resulting in us going to -1 49ers within the first hour,” Pullen said in a news release late Sunday.
A week ago, Caesars felt a little more strongly about San Francisco.
“We set lookahead lines that had the 49ers as a 3-point favorite against the Chiefs,” Pullen said. “Judging by what transpired [Sunday], we shortened the 49ers a bit, given their recent defensive struggles, and the Chiefs looking dominant in Baltimore, shutting down the Ravens.
“At the end of the day, it comes down to the eye test.”
The Chiefs seem to be passing that test with early bettors.
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Tracking Daily Super Bowl Line Movement
Open: 49ers -2.5
Monday: 49ers -1
Patrick Everson is a sports betting analyst for FOX Sports and senior reporter for VegasInsider.com. He is a distinguished journalist in the national sports betting space. He’s based in Las Vegas, where he enjoys golfing in 110-degree heat. Follow him on Twitter: @PatrickE_Vegas.