After the conclusion of the NFL’s conference championship games, the San Francisco 49ers emerged as early favorites for Super Bowl LVIII against the Kansas City Chiefs, holding a -2.5-point spread.
However, the confidence in the 49ers with a spread of less than a field goal diminished by the end of the night on the West Coast. Some sportsbooks adjusted the betting odds to almost even, making San Francisco a 1-point favorite.
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This Super Bowl has garnered increased attention in the realm of sports gambling as it takes place in Las Vegas for the first time. Over the last four decades, Las Vegas bookies have seen an average of $102.5 billion in sports bets.
The 49ers opening as favorites isn’t surprising, considering their status as the NFC’s No. 1 seed and a better regular-season record than the Chiefs. If the line remains, it will mark the third consecutive playoff game in which the Chiefs are underdogs.
Under the leadership of Patrick Mahomes, Kansas City holds a 9-3 record as outright underdogs. Notably, in Super Bowl LIV, where the Chiefs defeated the 49ers, they entered as 1.5-point favorites.
Historically, the betting favorite has won 36 out of the last 57 Super Bowls, while underdogs maintain a 28-27-2 record against the spread. Kansas City, previously favored in Super Bowl LV but victorious as underdogs in Super Bowl LVII last season, entered the postseason with 10-1 odds of winning the Super Bowl—its longest odds this season.
Following three consecutive playoff victories against teams considered Super Bowl contenders earlier in the season, the Chiefs find themselves back in another AFC Championship, meeting expectations set in September.
