2023 Super Bowl: Eagles staying strong as popular betting favorite vs. Chiefs

Usually, the Kansas City Chiefs are a favorite team among casual bettors. But it doesn't seem like that will be the case for Super Bowl LVII, at least in regard to the point spread.

Ever since the point spread was set for the Super Bowl between the Chiefs and Philadelphia Eagles, the money has steadily come in on the Eagles.

Lamarr Mitchell, the director of the race and sports book at MGM Grand in Las Vegas, said about two-thirds of the money on the game has come in on the Eagles, who are 1.5-point favorites at BetMGM. The over, which is 50.5, is getting about two-thirds of the bets, too. BetMGM has taken about six six-figure bets, and all but one of them are on the Eagles, Mitchell said. A seven-figure bet on the moneyline came in on the Eagles, too.

"Favorite and over," Mitchell said. "That's what we're seeing."

Despite the Eagles being the popular side, Mitchell said he doesn't anticipate the point spread moving again.

"To move to -2 would take a lot," he said. "I could see it going to -1 before I saw it going to -2.

"I can't imagine [the spread] moving that much."

Eagles are popular favorites

The Chiefs being underdogs was a bit of a surprise. It's rare for Kansas City to be getting points in the Patrick Mahomes era. But the Eagles have had a great season and have been a favorite team for bettors since early in the season, Mitchell said.

Mitchell said it was surprising to see the Eagles being such a popular side as a favorite.

"It's the Eagles defense," he said. "I don't think the public sees the Chiefs being as physical as the Eagles."

The Chiefs aren't getting a lot of attention from bettors on the spread, but Mitchell said he figures that could even out a bit with moneyline bets. MItchell said a longstanding trend in Super Bowl betting is that the favorite (and over) will get most of the action, but most of the moneyline bets will be on the underdog.

"Those trends are solid," Mitchell said. "They come in every year, and we anticipate the same thing this year."

The Chiefs are +105 on the moneyline, meaning a $100 bet would win $105. The Eagles are -125 on the moneyline.

Travis Kelce, coin toss are popular bets

Given that it's the Super Bowl, there are many bets other than the traditional side, total and moneyline that will get a lot of attention. That includes a new one in Nevada for this Super Bowl: the coin toss.

For the first time in Nevada, bettors can wager on heads or tails before the game. It's a fairly ridiculous bet but also a popular one.

"We've had people ask us for years about betting on the coin toss," Mitchell said. "We finally have it, and I'm expecting a lot of action on it."

In props that will be decided after kickoff, Kansas City Chiefs tight end Travis Kelce has been a big name among bettors. Mitchell said Kelce was a popular bet in the Chiefs' first two playoff games to score the first touchdown, and he was the first touchdown scorer in each of those games. Kelce to score the first touchdown at +650 odds is currently the most-bet prop at BetMGM for the Super Bowl.

Quarterbacks usually get plenty of bets to score the first touchdown, and in the Eagles' case, quarterback Jalen Hurts led the team in touchdowns scored over the regular season. Mitchell said Hurts has and will get a lot of first touchdown bets.

"If it's goal to go and they put him in the quarterback sneak position, you know what's going to happen," Mitchell said, referring to the Eagles' preferred QB sneak, in which teammates push Hurts from behind on the snap.

Even though the Eagles are getting most of the bets, a lot of money will be bet on the Chiefs, too. Because of the matchup of two popular, strong teams — and the expansion of legal sports betting states since last year — this year's Super Bowl should set betting volume records.

"Both teams are very public teams," Mitchell said.