The Kansas City Chiefs were still celebrating on the field Sunday night when oddsmakers moved them from slight favorites to win the Super Bowl over the Philadelphia Eagles to slight underdogs.
After the Chiefs opened as a 1.5-point favorite by BetMGM MGM, +0.24%, the betting line quickly shifted, favoring the Eagles by 2.5 points, with the over/under at 49.5 points. FanDuel sports book odds also swung from the Chiefs to the Eagles, by 2 points, and DraftKings DKNG, +5.17% favored the Eagles by 2.5 points.
The betting line will likely continue to change slightly over the next two weeks.
Super Bowl LVII (that’s 57 to you non-Romans) will kick off at 6:30 p.m. Eastern on Sunday, Feb. 12, in Glendale, Ariz.
The Chiefs edged the Cincinnati Bengals, 23-20, on Sunday night in the AFC Championship game in Kansas City, winning on a last-second field goal. Kansas City will be playing in its third Super Bowl in the past four years; the Chiefs last won it in 2020 over the San Francisco 49ers.
Earlier in the day, the Eagles earned their spot by demolishing the 49ers, 31-7, in an NFC Championship game in Philadelphia that was never close and saw both 49ers quarterbacks — starter Brock Purdy and backup Josh Johnson — leave the game with injuries (Purdy returned in the second half, but essentially could not throw the ball). The Eagles were last in the Super Bowl five years ago, when they beat the New England Patriots.
Last year, PlayUSA estimated there were more than $ 1 billion in legal wagers on the Super Bowl — a record amount — while AmericanGaming estimated a total of $ 7.61 billion was wagered in the U.S., when including casual bets, bookies and pool contests.
Sports betting is legal in some form in 32 states, as well as the District of Columbia, according to the American Gaming Association.