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Super Bowl Odds Movement: Biggest Winners and Losers After Preseason Week 1

Breaking down the biggest odds movement to win the Super Bowl following Week 1 of the preseason.

Peter Dewey

New York Jets quarterback Aaron Rodgers.
New York Jets quarterback Aaron Rodgers. / Vincent Carchietta-USA TODAY Sports

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?

Odds via BetMGM Sportsbook.

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.

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.

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.

If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.

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Peter Dewey

PETER DEWEY

Peter is a senior editor for Sports Illustrated Betting. He has worked as a writer and editor for BetSided, NBC Sports, the Connecticut Sun and the Meriden Record-Journal covering the NBA, WNBA, NFL, MLB, and more. A New York City resident, he is a hoops fanatic with a soft spot for his New York Knicks.

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