Super Bowl 2023 Odds, Line Movement, & Market Report: Notable bets on Eagles and Chiefs, BetMGM splits

Nick Musial

Super Bowl 2023 Odds, Line Movement, & Market Report: Notable bets on Eagles and Chiefs, BetMGM splits image

Welcome to the Super Bowl 57 market report! Before the big game kicks off, let's take a moment to see how the betting market has evolved since the game's opening odds were released.

There's been a pretty significant shift in the point spread market from the initial odds for a game of this magnitude, and along with updated betting splits and insights from BetMGM, we've aggregated some of the more notable bets placed on both the Eagles and Chiefs.

Best of luck if you decide to make a bet on the big game!

SUPER BOWL BETTING:
Game preview | MVP | Over/UnderBest bets

Super Bowl 2023 updated odds, line movement, and betting splits:

Per BetMGM, after opening as short 1.5-point underdogs, the Eagles have been bet up to 1.5 point-favorites thanks to 69 percent of spread bets placed on Philadelphia. If Philadelphia closes as the favorite, it will be just the third time this season that Kansas City is an underdog.

The Chiefs went 1-1 in the underdog role this season, defeating the Buccaneers 41-31 as one-point underdogs in Week 4 and later falling to the Bills 24-20 as 2.5-point underdogs in Week 6. Super Bowl 57 also marks the first time Patrick Mahomes and Andy Reid are underdogs in the big game after closing as 1.5-point favorites in Super Bowl 54 against San Francisco and 3.5-point favorites against Tampa Bay in Super Bowl 55.

According to BetMGM Sports Trader Christian Cipollini, “Currently, the Chiefs winning would be the best outcome for the sportsbook. That could change as a majority of action on the Super Bowl will come in this weekend.”

The total's also seen some movement, ticking up to 50.5 after opening at 49.5. Plenty of offense is expected between the AFC's and NFC's most efficient offenses on an EPA/play basis.

SUPER BOWL PROPS:
Eagles | Chiefs | Mahomes | Hurts | "Novelty" props | Best bets

Super Bowl 2023 odds: Notable Eagles bets

Philadelphia moved from a 1.5-point underdog to a 1.5-point favorite in part by a slew of large bets right after the initial odds were released. Per Max Meyer of Caesars Sports, 21 of 24 early bets placed of at least $10,000 came in on the Eagles, moving them up to as high as -2. 

Since then, some buyback has come in on the Chiefs, as there's a good chance the Eagles don't reach -2 again before kickoff. It's rare to see the Chiefs in the underdog role, especially in a neutral site game, so expect a good deal of Chiefs money to spill into the market.

BetMGM also reported a million-dollar wager coming in on the Eagles' moneyline at -125 to win $800,000. Considering how close to even these two teams are, this bettor seems to be awfully confident in Philadelphia's chances to claim its second Super Bowl in six seasons.

Another bettor is hoping a Chiefs defense that allowed a league-high 33 passing TDs in the regular season gets lit up by Hurts, betting on the Eagles QB1 to throw exactly five TD passes at a 60/1 price tag.

MORE SUPER BOWL PICKS:
DraftKings lineup | FanDuel lineup | Same Game Parlay

Super Bowl 2023 odds: Notable Chiefs bets

Despite moving from a 1.5-point favorite to a 1.5-point underdog, Kansas City has still garnered its fair share of action from the betting public. 

According to ESPN's Ben Fawkes, a BetMGM customer wagered $5,000 on the exact outcome of the Super Bowl ending with a 33-30 Chiefs victory at +200000 odds.

SUPER BOWL 57 EXOTIC PROP BETS:
National Anthem | Halftime | Broadcast | Coin toss, more

Super Bowl 2023 odds: Most bet props

Per BetMGM, here's a snapshot of their most heavily bet props by ticket count:

  • Travis Kelce to score 1st touchdown (+650)

Kelce always garners lots of public action relative to his player props, and bettors would love to cash in on the TE scoring the game's first touchdown at +650. 

  • Travis Kelce to score anytime touchdown (-125)

Along with betting Kelce to score the game's first touchdown, bettors also hope he reaches paydirt at least once throughout the game.

Kelce's odds to score a TD opened at +100, a price most sharp bettors felt was too short considering he's scored a TD in eight of his past nine playoff games while also garnering 29 red-zone targets during the regular season. 

  • Result of coin toss: Tails (-105)

Tails never fails...right? Despite both heads and tails priced at -105 (implied probability: 51.22 percent), bettors are lining up to get money on the game's coin toss landing tails. Throughout Super Bowl history, the coin toss has gone about how one would expect it to go, landing heads 27 times (48 percent) and tails 29 times (52 percent). Don't tell them that, though.

  • Eagles 37-34 Chiefs correct score (+8000)

Was the script leaked? A satirical social media post circled around the game's potential outcome, showing a Wikipedia screen grab of the Eagles notching a 37-34 win has resulted in bettors trying their hand at cashing in on an 80-1 ticket. 

  • Miles Sanders over 59.5 rushing yards (-115)

Philadelphia's RB1's rushing prop OVER is another wager bettors are enticed by, as Sanders draws a favorable matchup against a Kansas City defense that's allowed the 11th-highest rush EPA (-0.054).

Sanders averaged 74.6 rushing yards per game in the regular season, and behind an Eagles offensive line that sports PFF's third-highest run-blocking grade (76.1), he's got a shot to have a successful day on the ground.

Nick Musial

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Nick Musial is a Content Producer at The Sporting News. He recently joined the team after studying sport management and journalism at the University of Kansas. Nick’s an avid sports bettor who’s always looking for value.