• The Kansas City Chiefs are favorites to win the 2024 Super Bowl at +600 odds
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Super Bowl Odds and Betting

Winter brings excitement across the U.S. as America approaches the most eagerly awaited sporting event of the year. The anticipation brews with every playoff game, as the odds to win Super Bowl change as we learn more about each team's strategies.

How Do You Read Super Bowl Odds?

The opening line is the first betting line in a sportsbook. Opening lines indicate the main event under which you can place subsequent bets.

The typical odds sheet opening line looks something like the table below: 

TeamPoint SpreadOver/Under TotalsMoneyline Odds
Chicago-9.5/-11030.5/-110 - O-110
Denver+9.5/-11030.5/-110 - U+110

Point spreads, moneylines, and over/under totals usually show a positive or negative odds indicator on the betting sheet. In the case of the spread and the over/under, these odds show after the spread or total amounts. The example sheet above shows these as -110 for Chicago and Denver—in both the Point Spread and Moneyline Odds columns.

The negative odds for the favored team shows how much in dollars you'd need to bet to win $100. As indicated above, betting $110 on Chicago to cover the spread gains you $100 if they win the game.

Positive odds show the payout if you bet $100 and the team wins. In the case of Denver, betting $100 returns $110 if they win, indicated in the moneyline odds.

In each case, you also win your initial stake back, netting the win amount plus your wager. These odds indicators don't mean you're required to bet the indicated amount. Smaller wagers are pretty common, and they're easy to scale. For instance, if you wanted to bet $11 on Chicago to win, you'd receive a $10 payout. For Denver, betting $10 would gain you an additional $11.

Types of Super Bowl Odds 

There are numerous ways sportsbooks put up odds on winning the Super Bowl. The most popular betting styles on DraftKings are wagering on the point spread, over/under totals, and moneyline betting. There are also several other betting styles to choose from. 

Super Bowl point spreads

When looking at the Super Bowl spread, the betting sheet will show each competing team, along with a positive or negative number alongside it. The negative number indicates the favored team and the minimum point difference they need to win by for your wager to pay out if you bet on them. The positive number shows the underdog and how many points or less they need to lose for a bet to pay.

When the spread shows a half point—as with the example in the section above—it means that the favored team has to beat the underdog by the next whole number to win. In this case, Chicago would need to score at least 10 more points than Denver for the bet to pay out. Conversely, Denver would need to lose by 10 points for a bet on them to pay out.

Super Bowl moneyline bets

Super Bowl moneylines are straight win/lose odds on the Super Bowl outcome. The chances are shown by either a positive or a negative number, with no other indicators. In the case of Chicago, you'll have to stake $110 to win $100 if they're victorious. When it comes to Denver, betting $100 nets an additional $110 if they win.

Super Bowl over/under betting

When looking at Super Bowl odds, you may want to consider an over/under bet—also called totals. With this betting style, it doesn't really matter who the Super Bowl favorites are. You simply bet on whether the combined finals scores will come out to more or less than the score in the Total column.

Super Bowl live betting odds

Once the Super Bowl kicks off, oddsmakers let you place several bets in real-time—such as wagers on specific quarters, halves, or individual drives throughout the game. For example, you can bet on how many points each team will have at the end of the first half. Super Bowl live odds fluctuate as the game progresses, but once you place a live wager, those odds are locked in, and your bet won't be affected by changing odds.

Super Bowl parlays

A parlay is a series of bets you put down in a single wager. For example, you can bet in three legs: First leg Chicago will lead at the end of the first half, second leg Denver will win in the second half, and leg three that the quarterback will pass for over 215 yards. Each of those bets has specific odds, which would pay out quite nicely if they win. 

All conditions must be met with a parlay to win the bet. Combining them into a single wager extends the odds, resulting in a much larger payout than if you'd bet on each of those conditions individually.

Super Bowl futures bets

Futures bets are wagered on events and awards that take place later in the season—or even during the postseason. For example, you can bet on which teams make it to their respective conference championships or on one team to win their respective conference. 

At the beginning of the football season, a sportsbook will show the NFL odds on everything from who'll make it to the Super Bowl to who'll win MVP in the most games this year. Super Bowl odds fluctuate with each win, loss, and player injury throughout the year. Long odds of making it to the big event at the beginning of the year may turn into a good chance as the season progresses.

How You Can Bet on the Super Bowl with DraftKings?

It's easy to place wagers on the DraftKings Sportsbook betting app —with virtual bet slips provided to you. Just add the games you want to bet on, and once you've made your picks, the platform shows you all the other types of bets you can place related to the games you've chosen. 

You can make wagers leading up to the Super Bowl on regular NFL games. Take a look at the 2022-2023 NFL football schedule for a full view of what the regular season looks like—then peruse the DraftKings Super Bowl betting tips for deeper insights into how and when to place your wagers for the big day.

NFL Playoffs begin Saturday, January 14, 2023—with wildcard rounds going through Monday, January 16. The teams that win the wildcard round move on to the divisional playoff round, where four games are played on January 21 and 22. Divisional playoffs determine who moves on to the AFC and NFC championship games. 

The AFC and NFC championships both happen on Sunday, January 29, and the winner of each matchup goes on to play in the Super Bowl on February 12.

Super Bowl Odds FAQ