10% of Super Bowl betting handle at BetMGM Sportsbook is currently on the Denver Broncos winning Super Bowl 56.
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It is no surprise that the Super Bowl betting markets have fluctuated in recent weeks. This is always going to be the case as the latest news emerges from camps, including trade rumors, staff changes and player disagreements.
For example, Green Bay opened at +900 after losing in the NFC Championship game to the Buccaneers. Since then, the uncertainty surrounding star man Aaron Rodgers’ future has seen the Packers’ odds drop to +1800.
This is very common and other franchises have experienced similar odds changes. The Philadelphia Eagles have dropped from +5000 to +10000 in recent weeks.
Here are the updated Super Bowl betting odds at BetMGM Sportsbook:
As expected, the Chiefs and the Buccaneers are the two frontrunners for Super Bowl 56 as we lead into the new NFL season. The Lions and the Texans are major outsiders for next season’s Super Bowl.
What is very interesting to look at is Super Bowl betting handle. Super Bowl betting handle is the percentage of money wagered on a specific team from all money wagered on the event. The handle is always useful for bettors who want to know where the money is going on a certain event.
Surprisingly, 10.1% of Super Bowl betting handle is on the Denver Broncos at BetMGM. This accounts for the third-highest handle behind Tampa Bay and Kansas City and has resulted in Denver’s odds improving from +6500 to +3000 to win Super Bowl 56.
Super Bowl Betting Handles
- Tampa Bay Buccaneers (24.5%)
- Kansas City Chiefs (12.5%)
- Denver Broncos (10.1%)
- Cleveland Browns (5.9%)
- Tennessee Titans (4.9%)
- Indianapolis Colts (4.4%)
- New England Patriots (3.4%)
- Buffalo Bills (3.3%)
- Los Angeles Rams (3.3%)
- New York Giants (3.2%)
- San Francisco 49ers (2.8%)
- Washington Football Team (2.7%)
- Green Bay Packers (2.2%)
- Minnesota Vikings (1.6%)
- Los Angeles Chargers (1.6%)
- Pittsburgh Steelers (1.4%)
- Seattle Seahawks (1.4%)
- Detroit Lions (1.1%)
- Baltimore Ravens (1.1%)
- Chicago Bears (1.1%)
- Atlanta Falcons (1.1%)
- Dallas Cowboys (1.0%)
- Arizona Cardinals (0.9%)
- Jacksonville Jaguars (0.8%)
- New Orleans Saints (0.8%)
- Miami Dolphins (0.7%)
- Las Vegas Raiders (0.7%)
- New York Jets (0.4%)
- Carolina Panthers (0.4%)
- Philadelphia Eagles (0.3%)
- Cincinnati Bengals (0.2%)
- Houston Texans (0.1%)
Tampa Bay, Kansas City and Denver accounts for more than 37% of total handle at BetMGM.
As Colorado is a legal sports betting state, Denver will always have passionate fans who are able to bet on their team to succeed. However, there are plenty of other franchises in legal sports betting states (such as the Lions, Eagles, Jets and Giants) who hold a much lower handle.
The reason for Denver’s high Super Bowl betting handle and their odds going from +6000 to +3500 is most likely down to quarterback rumors. The Broncos are likely to bring in a top quarterback in time for the new season. Whether it will be Aaron Rodgers or someone else remains to be seen.
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