In a surprising turn of early betting for Super Bowl LVIII, the Kansas City Chiefs quickly became the favored team despite the San Francisco 49ers initially opening as favorites with a -2 point spread. This shift in betting preference was observed at the BetMGM online sportsbook, reflecting a change in market sentiment towards the Chiefs.
The adjustment from the 49ers’ -2 to Kansas City at +1.5, and eventually to +1, indicates a significant betting movement favoring the Chiefs. This shift might be attributed to Kansas City’s recent performance, winning two consecutive games as the underdog, which has possibly reinforced their resilience and capability to overcome odds.
The preference for Kansas City could also stem from the quarterback matchup, highlighting the contrast between the Chiefs’ Patrick Mahomes and the 49ers’ Brock Purdy. Mahomes’ proven track record, especially under pressure, might be influencing bettors’ confidence.
Moreover, the historical context of Super Bowl LIV, where despite San Francisco’s advantages in several positions, they were unable to secure a win against Mahomes and the Chiefs, could be playing a role in the betting dynamics.
Despite the fluctuating odds, by the onset of Super Bowl week, the market corrected, reinstating the 49ers to their original -2 point favoritism. This back-and-forth in the betting market underscores the competitive anticipation surrounding Super Bowl LVIII, with both teams demonstrating strong potential for victory.