Odds To Win Super Bowl 55: Chiefs are All Alone At the Top

The schedule for the 2020 NFL season is out, and sportsbooks are already ramping up their odds options for the upcoming campaign. When it comes to which team is favored to win Super Bowl 55, the defending champion Kansas City Chiefs sit atop the list.

At BetOnline, the Chiefs are the +750 favorites to hoist the Lombardi Trophy again. The Baltimore Ravens (+800), New Orleans Saints (+1200) and Tampa Bay Buccaneers (+1200) are next up at the shop.

For more information on everything you need to know about wagering on the big game, head over to our Where to Bet on the Super Bowl page.

Super Bowl 55 Updated Odds

Odds as of May 29 at BetOnline

Whose Odds are On the Rise?

Since the 2020 NFL Draft concluded, the sportsbook has seen no shortage of line movement in its Super Bowl odds. The two main teams that are trending in the right direction are the Dallas Cowboys and Green Bay Packers.

On April 24, the Cowboys’ championship chances sat at +2800, while the Packers’ odds were at +3300. Dallas and Green Bay have since leapfrogged other teams on the board to move to +2000. 

That shift is especially interesting when you consider the drastic difference in the public opinion of both teams’ drafts.

Dallas was widely praised as having an excellent draft. When standout Alabama wide receiver CeeDee Lamb fell to the Cowboys at No. 17, the Cowboys jumped on him. Jerry Jones then turned to defense in the next three rounds, selecting cornerback Trevon Diggs in the second, defensive tackle Neville Gallimore in the third and cornerback Reggie Robinson II in the fourth.

Green Bay’s draft has been heavily scrutinized, as general manager Brian Gutekunst’s decision to not add a wide receiver left many Packers fans scratching their heads. The Pack have their eventual Aaron Rodgers successor in Jordan Love, but their decision to not draft an impact player to help the team in the first round is questionable.

Whose Odds are Worsening?

The biggest losers at BetOnline since the draft are undoubtedly the Las Vegas Raiders and Tennessee Titans. Vegas, which entered the first round with a +4000 shot to win the Super Bowl, saw its odds tumble all the way to the current number of +8000. Tennessee is now +5000 after being available at +4000 a few weeks ago.

Head coach Jon Gruden has high hopes for his Raiders as they enter the first year in the Las Vegas era, but the Raiders’ decisions throughout the draft have clearly negatively impacted their opinion in the betting public. The Raiders reached at No. 19 by picking cornerback Damon Arnette and took wideouts back to back at Nos. 80 and 81 in Lynn Bowden Jr. and Bryan Edwards.

The Ryan Tannehill-led Titans were a nice story in 2019, yet it’s clear oddsmakers aren’t expecting them to catch lightning in a bottle two years in a row. Tennessee is now tied with the Houston Texans for the 10th-worst Super Bowl odds in the NFL.

Derrick Henry’s ability to take over a game is unparalleled right now, but the Titans have their work cut out for them to prove they’re legitimate contenders in the AFC. If you think Tennessee can prove the doubters wrong and go all the way this season, they’re an extremely attractive bet at +5000.

When it comes to betting on the NFL, odds are available before teams take their first regular-season snaps. You can even bet on a potential Super Bowl winner in August. Certain squads will always be contenders, especially if they won the previous year. When bookmakers set the lines, they look at offseason roster moves, coaching changes and past on-field performance. To bet on the odds for the Super Bowl, you’d make a futures bet.

What is a Futures Bet for NFL?

This is a bet in which you would look at the odds for the Super Bowl, weeks or sometimes months in advance of the big game, and decide which team you think will win. Let’s say you want to make a futures bet today. At your sportsbook of choice, the odds might look something like this:

If this were a moneyline bet, you’d be able to see which team is the clear favorite because it would have a minus sign beside its odds (-). For futures, the team with the lowest odds is favored to win the Super Bowl and the rest are underdogs.

Let’s say you feel strongly about the Saints and believe they’re going to win it all. If you were to bet $100 on them and they did triumph, you’d get a payout of $650 – your original $100 is returned along with your winnings of $550. Our Odds Calculator will show you how much you’d win based on the odds and amount bet.

The odds change throughout the season as key players get injured, trades happen and coaches get fired. Line movements for NFL futures happen weekly, so if you see odds you like, it’s best to bet on them ASAP. The Packers may be +900 to win the Super Bowl in October but after a surge in November their odds could jump to +400 and you’ll make less money than you would if you’d bet them at +900.