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Super Bowl 2024: Early Bettors Heavily Favor Chiefs

 


Super Bowl 2024: Early Bettors Heavily Favor Chiefs


In the lead-up to Super Bowl LVIII, the prevailing sentiment among early bettors is resoundingly in favor of the Kansas City Chiefs. Since the announcement of the championship matchup, the Chiefs have consistently attracted a substantial majority of Moneyline bets, as reported by BetMGM.


In the realm of Moneyline betting, where wagers hinge on predicting the outright winner with adjusted odds, the San Francisco 49ers command a -130 (requiring a $130 bet to yield $100), while the Chiefs are positioned at +110 (a $100 bet potentially returning $110). Notably, the Chiefs are drawing in significantly more Moneyline bets than the 49ers, reflecting a prevailing preference among bettors.


This is based on the early days following the unveiling of the Super Bowl matchup. Historically, the bulk of Super Bowl bets materialize in the final days leading up to the game, and the initial bets represent only a fraction of the total volume anticipated. Consequently, the dynamics may undergo a shift as the game approaches.

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This favorability towards the Chiefs extends beyond Moneyline betting and is evident in point spread betting as well. Despite being labeled as 2-point underdogs, the Chiefs are commanding over three-fourths of the total money wagered on the spread as of Tuesday.


Several factors contribute to the prevailing trend favoring the Chiefs. Notably, their late-season surge, spearheaded by quarterback Patrick Mahomes, has garnered significant attention. Mahomes transitioned from a relatively modest regular season to orchestrating three consecutive playoff victories, securing another Super Bowl appearance for the Chiefs. In contrast, the 49ers' playoff performances have been less than convincing, narrowly defeating the Green Bay Packers and Detroit Lions without covering the spread. This contrast has fueled a notable bias in favor of the Chiefs based on recent developments.

While the betting landscape may witness shifts in the coming week and a half leading up to the Super Bowl, the current trajectory positions the Chiefs as the preferred choice among early bettors, potentially aligning sportsbooks with a vested interest in a 49ers triumph on Super Bowl Sunday.

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