Super Bowl 58 Odds – Who Is Favored to Win the Super Bowl?

Feb 7, 2024; Las Vegas, NV, USA; A general overall view of San Francisco 49ers and Kansas City Chiefs logos on the Allegiant Stadium facade. Mandatory Credit: Kirby Lee-USA TODAY SportsSee the latest Super Bowl 58 odds for San Francisco vs Kansas CityWho is currently favored to win the Super Bowl?Read below for updated Super Bowl 58 odds, public betting info, & our best bet

The Super Bowl 58 odds have been shifting since they first opened weeks ago. The San Francisco 49ers are currently small favorites over the Kansas City Chiefs in the Big Game on Sunday, February 11th.

The betting public has been hammering the defending Super Bowl champs against the spread and on the moneyline. However, the current Super Bowl odds paint an interesting picture of how this game may play out.

Let’s fully break down the Super Bowl 2024 odds, analyzing line movement and public betting.

Super Bowl 58 Odds

In the updated odds to win the Super Bowl, the San Francisco 49ers are -1.5 favorites on the spread and -130 favorites on the moneyline. This implies there is a 57% chance the 49ers will win Super Bowl 58.

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Odds as of Feb. 11 at FanDuel Sportsbook. Sign up with the FanDuel promo code for a unique sign-up offer, plus the ability to enter the Gronk Kick of Destiny 2.

Make sure to also check out the best Super Bowl promotions if you’re already registered at FanDuel. Shopping around at different sportsbooks is the key to being profitable this weekend.

Chiefs – 49ers Line Movement

When Super Bowl 58 odds first opened after the conference championship games, the San Francisco 49ers were listed as 2.5-point favorites over the Kansas City Chiefs, with an over/under total set at 48 points. The 49ers were -130 favorites on the moneyline, while the Chiefs were +110 underdogs.

🚨SUPER BOWL LINE IS SET 🚨

The 49ers open as 2.5 point favorites over the Chiefs 👀 pic.twitter.com/AiWJe2e7eu

— PFF Fantasy & Betting (@PFF_Fantasy) January 29, 2024

In less than 12 hours after opening, we saw notable line movement towards the defending champs. The spread shifted to San Francisco -2 while the total dropped to 47.5 at most sportsbooks. The spread got as short as -1.5 before rising back up to -2.

As of Sunday morning, the spread is back to San Francisco -1.5, with more money coming in on the Chiefs. Billy Walters, regarded as the greatest sports bettor of all time, has placed a $500K – $1M bet on the KC spread, which is likely a factor in this updated line movement.

Although the spread has been shifting, the moneyline prices for both teams are nearly identical to their opening values. There’s a chance for further line movement, however, as sportsbooks are expecting plenty of money to pour in the hours leading up to kickoff.

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Super Bowl Public Betting Trends

The NFL public betting trends can be very insightful when it comes to betting the Super Bowl. The early action heavily favored Kansas City, especially on the moneyline.

According to our data, 75% of the early handle (amount of money wagered) and 76% of bets were placed on the Chiefs covering the 2.5-point spread. Even more action came on Kansas City to win outright, with 84% of early handle and 87% of bets backing the Chiefs on the moneyline at around +110 odds.

Current Super Bowl public betting data

As we approach Super Bowl Sunday, the action has balanced out a bit more in favor of San Francisco. The 49ers are now drawing 35% of moneyline bets and 26% of handle, although bettors are still hammering the Chiefs against the spread (70% money).

A key reason bettors are siding with Kansas City is the dominant defensive performance the Chiefs showed in shutting down the high-powered Baltimore Ravens offense in a 17-10 upset victory in the AFC Championship Game. That defensive effort inspired confidence in bettors that the Chiefs can slow down the 49ers as well.

What Is the Best Bet for the Super Bowl?

When it comes to the best bet for the Super Bowl, we’re gravitating towards the game total. As shown in the Super Bowl public betting trends data above, bettors are putting their money on the game going over the posted total of 47.5 points.

Despite the public betting the “over”, oddsmakers have actually dropped the total from 48 points to 47.5 points. This indicates they are quite confident in these teams staying under the total. Pinnacle, one of the sharpest sportsbooks in the world, even has the total at 47 now.

INSANE: The #Chiefs defense has only allowed THREE 4th quarter points during the entire playoffs pic.twitter.com/DoIMyn6J78

— MLFootball (@_MLFootball) January 31, 2024

The total has gone under in five of Kansas City’s last six games, primarily due to their stifling defense. There is also a recent trend of low-scoring Super Bowls, with four of the last five Big Games cashing the under for bettors.

While we are predicting the under in this game, we are also leaning towards betting the under of the San Francisco 49ers team total (24.5). The Chiefs have allowed just 16.8 points per game this season, with only one team (Packers, Week 13) scoring 25 or more points against their defense all year.

Super Bowl Best Bet: Under 47.5 Points (-110)

 

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