Super Bowl Odds Movement: Biggest Winners and Losers After Preseason Week 1
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Week 1 of the NFL preseason has come and gone, and it's a good time to start looking at the Super Bowl odds now that we're less than a month out of the 2024 regular season.
There has been a ton of movement in the odds since they opened as teams have made trades, signed players and dealt with injuries this offseason.
While many of the top contenders are the same, with the defending Super Bowl champion Kansas City Chiefs leading the way, who has the attention of oddsmakers ahead of preseason Week 2?
Biggest Winners in Super Bowl Odds Movement
BetMGM's John Ewing shared a full list of teams that have made positive moves in the latest Super Bowl odds, with the Pittsburgh Steelers and Cleveland Browns rounding out the list as some surprise climbers in the odds.
Super Bowl line movement (Open ➡️ Now) at #BetMGM
— John Ewing (@johnewing) August 13, 2024
📈
Chiefs +750 to +550
Eagles +1600 to +1400
Packers +2500 to +1600
Texans +2500 to +1600
Jets +3000 to +2000
Falcons +5000 to +3500
Browns +5000 to +4000
Steelers +8000 to +5000 pic.twitter.com/co2QqGzTKJ
Here's a look at some of the biggest winners in the odds this offseason.
Green Bay Packers
Are the Packers ready to take the next step?
Green Bay extended quarterback Jordan Love's contract this offseason, and oddsmakers are high on the young packers, setting them at +1600 after they opened at +2500 to win the Super Bowl.
Green Bay pulled off a huge upset win over Dallas in the playoffs last season, and it should be in the mix for the NFC North division title in 2024 with the Detroit Lions. Love needs to prove that his first season as a starter wasn't a fluke, but it appears Vegas has already cemented him amongst the league's top quarterbacks with these Super Bowl odds.
New York Jets
Aaron Rodgers is back -- and will hopefully stay healthy -- for the New York Jets, and they're sitting at +2000 (after opening at +3000) to win the Super Bowl.
New York had one of the best defenses in the league last season and added Haason Reddick in the offseason in a trade. While Reddick and the Jets are dealing with contract issues, he should make them an even better team if he plays.
New York's offense is really scary with Garrett Wilson, Breece Hall and Rodgers all healthy entering the 2024 season.
Atlanta Falcons
The Kirk Cousins era is underway in Atlanta as he works his way back from a torn Achilles tendon in the 2023 season.
Atlanta has gone from +5000 to +3500 to win the Super Bowl in a weak NFC South division that it could easily win. There are some concerns on my end surrounding Cousins' health, but there's no doubt Atlanta is much better than last season if he's under center.
Kansas City Chiefs
The Chiefs didn't make the biggest move (+750 to +550), but it's clear they're the Super Bowl favorites again.
As long as Patrick Mahomes is healthy, the Chiefs are going to be tough to beat, but adding Marquise Brown and Xavier Worthy this offseason should make this offense extremely explosive. Until someone knocks off the back-to-back champions, the Chiefs have to be amongst the top contenders to win it all.
Biggest Losers in Super Bowl Odds Movement
Things aren't always good when it comes to odds movement, and several NFL teams have found that out this offseason.
Super Bowl line movement (Open ➡️ Now) at #BetMGM
— John Ewing (@johnewing) August 13, 2024
📉
49ers +500 to +600
Ravens +850 to +1000
Bills +1200 to +1500
Cowboys +1600 to +1800
Dolphins +2000 to +2200
Chargers +2500 to +4000
Jaguars +3000 to +5000
Colts +5000 to +6600
Saints +6600 to +10000 pic.twitter.com/0iY3nIYb74
Here's a look at the biggest "losers" -- teams dropping in the odds -- after Week 1 of the preseason.
New Orleans Saints
According to BetMGM, the Saints are the least bet team to win the Super Bowl, a sign that the public is out on them entering 2024.
Derek Carr and company failed to make the playoffs last season, and now the Atlanta Falcons have taken a step forward to compete for the division title. The Saints may be stuck in the middle as a borderline playoff team -- and certainly not a Super Bowl contender -- entering 2024.
Los Angeles Chargers
There's a lot of things to worry about when it comes to the Los Angeles Chargers.
First off, Justin Herbert is in a walking boot due to an injury to his plantar fascia, which could put his status for Week 1 in jeopardy. That's not the case at the moment, but no team should want their quarterback hurt ahead of the regular season.
Not only that, but the Chargers let Austin Ekeler, Mike Williams and Keenan Allen go this offseason. As a result, their odds have gone from +2500 to +4000 to win the Super Bowl.
Jacksonville Jaguars
I'm shocked to see the Jacksonville Jaguars falling from +3000 to +5000 to win the Super Bowl since they locked up Trevor Lawrence this offseason and still have a solid roster.
However, this seems to be more of a show of belief in the Houston Texans, who added a ton of talent to their roster around CJ Stroud this offseason. Jacksonville fell apart down the stretch in 2023, so it'll need to earn some respect again from the betting market in 2024.
Dallas Cowboys
With CeeDee Lamb still in a contract dispute with the Dallas Cowboys, their odds to win the Super Bowl have dropped from +1600 to +1800.
Dallas also happens to be the most bet team to fall short of its win total in the 2024 season.
Odds refresh periodically and are subject to change.
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