Oddsmakers initially made Super Bowl LVII a toss-up, but the Philadelphia Eagles emerged as the betting favorite against the Kansas City Chiefs on Sunday.
Caesars Sportsbook and other bookies opened the line at Super Bowl LVII Sunday night. Within an hour of the line’s release, the Eagles became 2-point favorites.
The Super Bowl favorite team is in a straight lead, 39-17, according to archived point spreads from ESPN Stats & Information.
Caesars Sportsbook reported that he took 24 bets of $10,000 or more on the Super Bowl spread or money line in the first hour of wagering; 21 of them were on the Eagles, according to Caesars editorial writer Max Meyer.
SuperBook executive director John Murray told ESPN that most of the early action in his book was aimed at the Chiefs, including a $20,000 bet on Kansas City shortly after the line opened in the pick.
“We started moving up with the market as it headed toward Philly,” Murray said. “I understand the train. The Chiefs look very hurt and were very lucky to escape. It’s a good thing for them that they have two weeks to prepare for the Super Bowl.”
Philadelphia reached the franchise’s fourth Super Bowl with a 31-7 win over the San Francisco 49ers in Sunday’s NFC Championship Game. The Eagles overcame long chances to get there. Philadelphia won the offseason Super Bowl 50-1 on Caesars Sportsbook, which had 15 teams listed ahead of the Eagles. Their odds improved after a draft-day trade for receiver AJ Brown, but they still started the season as mid-level contenders going 25-1 to win the Super Bowl.
The Chiefs, on the other hand, have been among the top favorites all season. They started the season 11-1 to win the Super Bowl at Caesars Sportsbook, but after a stunning win over the Arizona Cardinals in Week 1, they had single digit Super Bowl odds the rest of the way.
Kansas City beat the Cincinnati Bengals in a dramatic AFC championship game and advanced to the Super Bowl for the second time in four seasons, behind quarterback Patrick Mahomes, favorite for the regular-season MVP award.
The Chiefs have been favored in their last 15 playoff games, the longest streak of its kind in the Super Bowl era.
An all-time high of $179.8 million was wagered on last year’s Super Bowl in Nevada sports betting, the most of any state that reported Super Bowl betting numbers. Nevada sportsbooks netted $15.4 million in last year’s Super Bowl. The state’s sportsbook has only had a net loss at the Super Bowl twice since Nevada Gaming Control began tracking NFL championship action in 1991.
The Super Bowl over/under total opened at 49.5.