BetMGM Seeing Large Volume of Super Bowl Bets on Chiefs

Posted on: February 1, 2024, 03:51h. 

Last updated on: February 1, 2024, 03:51h.

There are 10 days left until the Super Bowl, and shifts in betting odds are a strong possibility. Currently, the Kansas City Chiefs are the clear favorites, attracting the majority of bets placed in states where BetMGM operates.

Patrick Mahomes Chiefs Super Bowl
Kansas City Chiefs quarterback Patrick Mahomes runs for a first down against the Philadelphia Eagles in Super Bowl LVII. The Chiefs are garnering a massive percentage of Super Bowl bets this year at BetMGM. (Image: Getty)

BetMGM has reported a large volume of bets favoring the Chiefs’ money line and spread bets. The sportsbook operator reveals that 84% of money line wagers and 77% of the bet’s handle are on the Chiefs.

The sportsbook operator opened the 49ers at -2, and BetMGM clients are heavily backing the Chiefs with 73% of bets and 74% of the handle at that number. BetMGM also opened its Super Bowl money line with odds shifting to -130 for the 49ers and +110 for the Chiefs.

Regional Bias for Chiefs Apparent

BetMGM offers mobile sports betting in 19 states as well as Ontario, Canada, and Puerto Rico. The Chiefs’ strong support is evident in states like Kansas and Illinois, where favorable bets are significantly in favor of the AFC champions.

The 49ers have the potential for regional bias in Oregon, where BetMGM does not offer mobile wagering.

Over/Under Look, Spread Trends

The over/under on the Super Bowl was opened at 47 and has shifted to 47.5. Betting trends indicate a strong preference for the over, with 69% of bets and 70% of the handle in favor of the over. Historical betting trends show favor to the favored team in the Super Bowl, but strong support for underdogs, like the Chiefs this year, has been evident in recent Super Bowl games.

Forbes Betting indicates that over 22 Super Bowls, underdogs have gone 15-7 against the spread, presenting an interesting stat for bettors to consider.

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