The stock market might have been closed Sunday night but oddsmakers wouldn’t have been able to tell the difference. They posted the opening point spread for Super Bowl 57 minutes after the Kansas City Chiefs clinched the AFC championship, and took a lot of action for the matchup with the Philadelphia Eagles in Glendale, Ariz. in two weeks.
The Super Bowl opening line was reportedly a pick ‘em, and bettors were ready to share their opinion given the neutral spread – moving the line from pick to Chiefs favored by one point before a shift back to pick.
But that was only the beginning. Over the next half hour, bettors shifted the line to Eagles favored by one point – a full two-point swing from the opener which saw Philadelphia as underdogs. The action poured in on Philadelphia enough to have the line settle at -2.5 late Sunday evening in Las Vegas.
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As of Monday morning, the Super Bowl point spread is the Eagles favored by two points – although some books still have Philadelphia closer to having a field goal edge on Patrick Mahomes in 13 days.
The Super Bowl total was also a moving target on the betting board late Sunday, opening at a high 51 points before cascading downward to 50 before eventually settling in at 49.5.
Let’s take a deep look at how Super Bowl wagering works and who the favorite is to win the Lombardi Trophy:
Who’s favored to win the Super Bowl in 2023?
The Eagles are -130 on the moneyline making Philadelphia the Super Bowl favorite this year, according to our odds provider PointsBet.
A bettor would have to place $130 on the Eagles to win the game straight up to win $100 back.
The Chiefs are the Super Bowl underdog, listed at +110 on the moneyline. A wager of $100 would net a bettor $110 if Kansas City won its second Super Bowl in four seasons.
What is the point spread on the Super Bowl this year?
The Eagles sit as small favorites on the spread, listed at -2 as noon Monday the day after Philadelphia topped San Francisco 31-7 in the NFC Championship game.
How many points are expected to be scored in Super Bowl XVII?
The point total for Super Bowl 57 is set at 49.5 after some initial bets were placed Sunday night, driving down the line from its opening 51 points.
To win an over bet on the point total, a gambler would need the Chiefs and Eagles to combine for 50 or more points. If the teams combine for 49 or fewer points, the over bet would lose.
Why do the Super Bowl odds vary between sportsbooks?
A majority of sportsbooks are holding strong at Eagles -2 and the total set at 49.5 but gamblers can shop around and find different numbers.
The reason the odds vary from book to book is the amount of action taken place on a certain spread by a specific oddsmaker. For example, if PointsBet receives a massive bet placed on the Eagles to win at -2 they might move the line up to -2.5 to create more of an incentive for other bettors to place wagers on Kansas City as underdogs to even out the theoretical hold on the game.
When will Super Bowl 57 take place?
This year’s Super Bowl will take place Sunday, Feb. 12, in Glendale, Ariz.
What time does the Super Bowl start?
The Super Bowl in 2023 kicks off at 6:30 p.m. ET and 3:30 p.m. PT. Fans can watch the game on FOX.