Oddsmakers react to early Super Bowl line movement: ‘Steady stream of Chiefs money’
There was some early disagreement between sharps and the bookies during the early part of betting for the 2024 Super Bowl.
The San Francisco 49ers opened as 2.5-point favorites across most sportsbooks, including BetMGM. But early money instantly pounced on the Kansas City Chiefs, as this game was moved to -1 across the market within a few hours of the posted odds.
“Early money on chiefs spread, moneyline and under,” Jeff Benson, director of operations for influential Vegas sportsbook Circa, told The Post.
Circa is a sportsbook that takes some of the sharpest action in the sport, with posted limits that anyone can jump on.
Caesars Sportsbook reported much of the same.
The early action is showing a steady stream of money the Chiefs way, resulting in us going to -1 49ers within the first hour, Caesars Sportsbook Assistant Director of Trading, Adam Pullen, told The Post in an email.
But as it currently sits, oddsmakers at BetMGM will need some more money to come in on the Chiefs despite 78 percent of the money being on Kansas City already.
The 49ers are BetMGMs biggest remaining liability to win the Super Bowl. Even though early action is on the Chiefs as underdogs, the sportsbook is cheering for a Kansas City victory,” Tristan David, Senior Trading Manager at BetMGM Sportsbook, told The Post.
BetMGM tells The Post that a whopping 16.7% of all Super Bowl futures bets were on the 49ers this season, the most of any team in the NFL.
Super Bowl betting could break records in 2024. AFP via Getty ImagesThis year’s Super Bowl will be in played in Las Vegas on Feb. 11, an event that should garner the most betting dollars in gambling history.
The betting record for the Super Bowl came in at $179.8 million in 2022.
When you have the next-door neighbor the 49ers coming in for the Super Bowl and the game being in Las Vegas, its safe to expect records might be set handle-wise this year.
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