Super Bowl LVIII Odds: Patrick Mahomes and the Chiefs Favored to Repeat as NFL Champs

Now that the 2023 NFL schedule has been released, let’s see what the odds are for all 32 teams to win the Super Bowl.

The Kansas City Chiefs are the favorites for Super Bowl LVIII, and oddsmakers are offering bettors a 5.5-to-1 payout for the team to run it back.

Despite trading away Patrick Mahomes's best weapon in wide receiver Tyreek Hill, Mahomes logged 5,250 passing yards and 41 passing touchdowns during the regular season on his way to winning both the regular-season and Super Bowl MVP awards. Even hobbled on a high-ankle sprain, Mahomes was able to connect with tight end Travis Kelce and any number of receivers, and the defense was able to do just enough against the Eagles as Andy Reid outcoached Nick Sirianni for the win. It's hard to repeat as Super Bowl champion, but it may be harder to fade Patrick Mahomes, who has now taken his team to the big game three of the last four years, winning twice.

Mark J. Rebilas/USA Today Sports

The two teams with the next-best odds belong to the team the Chiefs defeated 35-28 in Super Bowl LVII, the Eagles, and the team Philadelphia beat in the NFC title game, the 49ers. Both are +800.

Philadelphia is a young team that will be hard to stop with a franchise quarterback in Jalen Hurts who is already breaking records. They have A.J. Brown and DeVonta Smith set for next season, and they just cleaned up at the NFL draft, adding key pieces to their defense. Though Miles Sanders left in free agency, the Eagles signed Rashaad Penny and traded for D’Andre Swift, adding to a running back room that already boasts Kenneth Gainwell, Boston Scott, and Trey Sermon. Though the Eagles lost offensive coordinator Shane Steichen to the Colts, Sirianni remains, and the Eagles’ aggressive play style will remain hard for defenses to solve.

Will it be Brock Purdy or Trey Lance under center for San Francisco? Maybe it doesn't matter; after acquiring Christian McCaffrey beofre the trading deadline last season, Kyle Shanahan's team looked unstoppable no matter who was at quarterback. It took losing four QBs for the Niners to finally fall in the NFC championship game. The loss of defensive coordinator DeMeco Ryans to the Texans should be considered, though, as the top-ranked 49ers defense was a big part of the team’s success last season.

Up next are the Bills (+900), who opened as favorites this time last year. Quarterback Josh Allen is one of the best young talents in the league, and the onus is on Buffalo to get this done. We know Allen can beat Mahomes, assuming the conference runs through Kansas City.

The Bengals round out the top of the list at +900. Cincinnati has been in the AFC championship game both years with Joe Burrow at QB, and the defense ranked Top-6 last season. Plus, Burrow is 3-1 vs. Mahomes.

It's hard to pass on the Jets, who opened at +2200 the morning after Super Bowl LVII, but now own +1400 odds with Aaron Rodgers officially in New York.

The Chargers (+2000), who just hired new offensive coordinator Kellen Moore, present good value -- especially after adding more depth with Quentin Johnston at wide receiver. The Jaguars, who also have a young franchise QB that could make more strides next season, also look tempting at +2500, especially with Calvin Ridley returning from his suspension.

Finally, the Seahawks at +4000 look tempting after Geno Smith's Comeback Player of the Year performance in 2022. Seattle recently added top receiver Jaxon Smith-Njigba in the NFL draft and bolstered their running back room with Zach Charbonnet.

Here are the current odds for Super Bowl LVIII:

Chiefs +550

Eagles +800

49ers +800

Bills +900

Bengals +900

Jets +1400

Cowboys +1400

Chargers +2000

Ravens +2000

Lions +2500

Dolphins +2500

Jaguars +2500

Rams +3300

Saints +3300

Broncos +3300

Browns +3300

Bears +4000

Giants +4000

Packers +4000

Seahawks +4000

Raiders +4000

Vikings +4000

Panthers +5000

Steelers +5000

Patriots +5000

Commanders +6600

Titans +6600

Falcons +6600

Buccaneers +6600

Colts +9000

Texans +10000

Cardinals +10000

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