The Kansas City Chiefs are receiving heavy support from early bettors as they prepare to face the San Francisco 49ers in the upcoming Super Bowl. Led by star quarterback Patrick Mahomes, the Chiefs are looking to repeat as champions and sportsbooks have adjusted their opening lines to reflect this confidence.
Initially, the Niners were favored by 2 or 2 1/2 points, but the early money on Kansas City has caused sportsbooks to drop the spread to 1 or 1 1/2 points in favor of the 49ers. FanDuel Sportsbook opened with San Francisco as 2 1/2-point favorites, but quickly adjusted to 1 1/2 points. This shift indicates a strong belief in the Chiefs' ability to retain their title.
Caesars Sportsbook had originally listed the 49ers as 3-point favorites against the Chiefs, but their recent performances have prompted a change. Kansas City's impressive win over the Buffalo Bills, following a upset victory over the Baltimore Ravens, has solidified their position as contenders. Meanwhile, the 49ers have had to rally from deficits in their past two games, raising concerns about their current form.
Adam Pullen, Caesars assistant trading director, acknowledged that the Chiefs' more impressive performances led to a lower opening spread. He also noted that the early betting has heavily favored Kansas City, with 71% of bets and 78% of the money coming in on the Chiefs. This trend is even more pronounced on the money line, with 84% of bets and 79% of the money going to Kansas City.
While professional bettors, known as sharps, tend to impact betting lines in most sports, the larger share of money in the Super Bowl comes from casual bettors. However, the opinions of casual gamblers do not hold much weight when it comes to moving the line. The Super Bowl is an event where people often bet with their hearts, rather than assessing the true odds.
The upcoming Super Bowl in Las Vegas holds special significance for the city. Adam Pullen, who moved to Vegas in 1990, reminisced about the transformation of Las Vegas from a city purely focused on UNLV basketball and boxing to one that now hosts every major sporting event. The Super Bowl being held in Las Vegas marks another milestone in the city's evolution as a sports destination.
In terms of big bets, Caesars received a whopping $1 million wager on the 49ers from a bettor in Michigan. This bet was placed on the money line at minus-120. Another daring bettor put $100,000 on the outcome of the coin toss, choosing tails at minus-105.
As the Super Bowl approaches, the confidence in the Kansas City Chiefs is evident in the early betting patterns. With the opening lines being adjusted in favor of the Chiefs, it seems that many bettors believe in their ability to repeat as champions. Only time will tell if this support translates into a successful Super Bowl run for Kansas City or if the San Francisco 49ers will prove the skeptics wrong and emerge victorious.
