Betting on NFL Favorites Was a Bloodbath for the Public in Week 2

Sportsbooks clean up as upsets rule in NFL Week 2.

Las Vegas Raiders defensive end Maxx Crosby (98) sacks Baltimore Ravens quarterback Lamar Jackson. / Reggie Hildred-Imagn Images

It was a dog day afternoon in Week 2 of the NFL season, as underdogs dominated the betting market, leading to big payouts for some, but big losses for the public. 

Overall, underdogs went 11-4-1 against the spread in Week 2 with a few stunning outright wins. The biggest was the Raiders upsetting the Ravens as 9-point underdogs and +350 on the moneyline at FanDuel Sportsbook. 

This was the second week in a row the largest underdog on the betting market won outright. The Patriots beat the Bengals in Week 1 as 8-point underdogs and +300 on the moneyline. 

Other outright upsets in Week 2 included the Bucs (+300) beating the Lions, the Saints (+240) beating the Cowboys, the Falcons (+200) beating the Eagles, the Vikings (+170) beating the 49ers, the Browns (+140) beating the Jaguars, the Packers (+115) beating the Colts and the Bills (+115) beating the Dolphins. 

While the Sports Illustrated team of NFL insiders went 6-1 with their top upset picks last week, the betting public didn’t fair as well. The public bet heavily on the favorites to win in all but one of the games mentioned above. 

Overall the Ravens had 96% of the moneyline tickets bet on them, the Lions had 69%, the Cowboys had 68%, the 49ers had 72%, the EAgles had 81%, the Jags had 60% and the Dolphins had 75%.

Only the Packers, with 59% of the total number of bets on the moneyline, sided with the public in Week 2. This also means the majority of parlay bets were ended by any one of those upsets. 

Beyond moneyline betting, NFL teams that are 5.5-or-more point underdogs are now 9-1 against the spread this season with a staggering five outright wins. Underdogs are 16-14-2 ATS overall and 11-21 straight up.

This is all good news for the sportsbooks, who cleaned up against the public this weekend.

Texts back from four bookmakers tonight about Sunday’s NFL Week 2 results:

“Massive day for us”

“Exceptionally strong day, even the late games were good.”

“Overall, it was a really good day. I think we won four of our five biggest decisions”

“Yeah, very good day”

— Ben Fawkes (@BFawkes22) September 16, 2024

These types of weeks happen in the NFL, so don't start blindly betting on every underdog in Week 3. But for one week, at least, it was all about the underdogs and the sportsbooks winning big.

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