With the 2024 regular season behind us, we’re in a sprint to the Super Bowl. This season’s No. 1 seed in the AFC is the Kansas City Chiefs (+320 on Super Bowl odds board). Andy Reid, Patrick Mahomes and co. are steadily building their dynasty and keen to become the first NFL team to win three straight Super Bowls on the back of their impressive 15-2 regular season.
On the NFC side, the Detroit Lions also sport a 15-2 win record this season. They’re on the upside of their rebuild with coach Dan Campbell, who famously declared in 2021 that he’d build a team that would bite off opponents’ kneecaps. They’ve been on the ascent since mid-2022 season and are in the best position yet to reach the Super Bowl for the first time in franchise history.
Right behind the Lions in the NFC are the No. 2 Philadelphia Eagles. After signing Saquon Barkley to a mega deal in the offseason, the running back reached new heights in 2024. He led the league in rushing yards at 2,005, nearly 700 more than his previous career high in 2022.
All three of these teams are almost certain to make a deep playoff run and are among the favourites on the Super Bowl odds board.
The Super Bowl has become more than just a championship game; it’s a cultural event for all sports fans, with people gathering to watch the action over a feast of nachos and wings. Betting is part of the fun and grows by leaps and bounds every year. Whether you’re new to it or not, now’s a good time for a primer on all the different ways to bet on the Super Bowl.
What are the Odds on the Super Bowl?
Every year, after the Super Bowl matchup is established, sportsbooks post the Super Bowl odds. Understanding how they work will ensure you make the smartest bet possible come Super Bowl Sunday. Even just some basic insight on the main differences will get you an advantage over the average Super Bowl bettor. Take this opportunity to stand out.
The Super Bowl gamelines have three straight bets, just like any football game. They include moneyline odds, point spreads and point totals. Each bet has a unique approach that will appeal to different betting styles.
The moneyline is a simple bet that’s great for beginners. You simply choose the team you think will win and get paid if it happens. Payouts are higher for underdogs and lower for favourites.
The point spread, meanwhile, is the most popular way to bet on football games. It applies a handicap to the stronger team (the favourite), making both picks (underdog and favourite) equally appealing. The favourite has to win by the established point margin for backers to be paid.
Lastly, the total isn’t connected to the winning team at all; it simply asks whether you think the total number of points scored by both sides will be over or under a designated number. Guess right and you win the bet. Many people like to combine the total with the spread for extra win opportunities.
We’ll cover each of these bets—and more—in this comprehensive Super Bowl Odds guide. Once you have a firm understanding of how each bet works, you can get the best betting experience possible. Canadian football fans love to bet on Super Bowl Sunday, and our online sportsbook is the premiere betting platform for good reason.
Types of Super Bowl Bets at Bodog
We’ll delve deeper into the three aforementioned straight bets so you know exactly how they work and why they’re designed the way they are.
Moneyline Bets
Before spreads and totals came out, there was just one betting option: the moneyline. Betting on the moneyline is the easiest way to get in the action. Take the team you want and lock it in. If your team wins, you’re paid based on the odds.
Since the majority of moneyline bettors will take the favourite, sportsbooks need to balance the action between both sides. This is done with the odds; you’ll notice that the favourite has a lower payout than the underdog.
In our sportsbook, odds are shown in American odds format by default. The favourite has negative odds (-230 or -150), which shows how much you’d need to bet to win $100. Conversely, the underdog has positive odds (+120 or +280) that show how much you’d win off a $100 bet. Bets scale up and down using the same format.
At Super Bowl LVII in 2023, the Chiefs were +105 underdogs against the -125 Eagles. A $125 bet on the Eagles would yield a $100 payout, while a $100 bet on KC would yield a $105 payout. In the end, KC was the right pick.
Super Bowl Spreads
For a more sophisticated Super Bowl bet, consider the point spread. With a spread, you’re not just betting on a team to win, you’re betting on a team to cover the spread. The spread is a margin of victory for the favourite, and loss for the underdog. For the favourite to cover the spread, they must beat their opponent by at least the point spread. For example, a 2.5-point spread means the favourite must win by at least three points to cover.
On the flip side, the underdog may lose within the threshold and still win the bet. For the 2.5-point spread, if the underdog lost by one or two points, they’d cover the spread and pay their backers.
Spread payouts are shown in brackets beside the bet and typically start at -110. Sportsbooks sometimes adjust it to balance the action between both sides.
Over Under (Totals)
Totals are the perfect complement for a moneyline or spread bet. You’re tasked with guessing if a game will be offence-heavy, or more of a defensive grind. Handicappers post a number (known as the total), and bettors decide if the total number of points scored in a game by both teams will exceed or miss the mark.
For Super Bowl LVII, when the Chiefs faced the Eagles, the total was 51 points. The Chiefs won 38-35, far exceeding the total. Everyone who picked ‘Over’ cashed in.
The payout depends on the odds offered at the time of bet. In brackets beside ‘O’ and ‘U’ are odds that dictate the payout.
Example:
O 51.0 (-105)
U 51.0 (-115)
In this example, a $105 bet on the over pays $100, and a $115 bet on the Under pays $100. Sportsbooks balance the action by adjusting the payout odds, known as the vigorish, or the total.
Super Bowl Prop Bets
When Super Bowl comes around, props go through the roof. These fun bets spice up the experience with a variety of topics, some of which are connected to the game, while others are not.
Many people like to include a series of props that take you through the event. You can start with the National Anthem prop that asks how long it will take the singer to finish the song. In 2013, Alicia Keys broke the record for longest National Anthem ever at 2 minutes 36 seconds, way over the average length of 1 minute and 43 seconds.
After the National Anthem, many Canadian bettors look forward to the coin toss; there’s always a series of Super Bowl props that let you guess on the outcome.
The Super Bowl half-time show has its own suite of props related to the performer. Bet on things like what song they’ll come out with, what outfit they’ll wear and whether or not there will be guest performers accompanying the headliner on stage.
Every bet slip needs to also have the famous Gatorade Shower prop. Since the ‘80s, the players on the winning team douse their coach with their sports drink cooler. Try to guess what colour it will be and get paid if you’re right.
Super Bowl Futures
Long-term Super Bowl bets can be found in the futures market. Any time of year, you can lock in a bet on what team you think will win the next Super Bowl. The odds fluctuate during the regular season, and teams are removed when they fall out of contention for the postseason.
The beauty of the futures bet is in the payout. Good things come to those who wait, and nowhere is this truer than a futures bet. These odds are typically in the hundreds or thousands. For example, a +8500 futures bet would pay $8,500 on a $100 bet.
The reason these payouts are so tantalizing is because it’s not easy to predict the Super Bowl winner—especially when all 32 teams are in the mix. You can hedge your futures bet by picking a handful of potential winners—rather than putting all of your eggs in one basket.
Parlay Bets
Anyone looking for mega payouts through gamelines should consider a parlay. By combining up to 16 bets into a single one, you get exponentially more than what would be possible with individual bets.
There’s one catch to parlays, though: all of the bets must win in order for the parlay to win. Just one loss means the parlay doesn’t pay out.
Parlays pay using “true odds” and the more teams included the greater the payout multiplier. Popular Super Bowl parlays include combining the spread and total. Putting $50 on a spread and total (both priced at -110) would yield a $132.23 payout with a parlay. If you put $25 each on the same bets but processed them as singles instead, the total payout for both would be $45.46.
Teaser Bets
Once you start to parlay your bets, you’ll want to know about teasers. These popular alternatives are great for those who like the idea of a parlay, but want to lower the risk. With a teaser, you simply move the point spread or total in the direction that benefits you in exchange for some of the payout.
Move the line by six points, and pay 10 cents in vigorish. Move it by 6.5 and pay 20 cents. You can move it by 7 (30 cents), 8 (55 cents), and even 9 (75 cents). The point adjustment will be applied to all of the bets automatically. We’ll look at an example of teased lines.
Baltimore Ravens -9.5 (-110)
Under 43.5 (-110)
If you took a 6-point teaser with these teams, the Ravens would become -3.5 favourites, and the total would go up to +49.5 points—much greater probability.
Round Robin Bets
Round robins make it possible to hedge your three-team parlay by breaking it down into smaller two-team parlays that essentially cover every scenario. We’ll illustrate with an example.
Indianapolis Colts -140
Philadelphia Eagles +120
Cincinnati Bengals +210
In order for a traditional parlay to win, all three of these bets need to come through. However, if you round robin them, you turn them into the following three parlays:
Parlay No. 1
Indianapolis Colts -140
Philadelphia Eagles +120
Parlay No. 2
Indianapolis Colts -140
Cincinnati Bengals +210
Parlay No. 3
Philadelphia Eagles +120
Cincinnati Bengals +210
By breaking down the parlay into all possible betting scenarios, there’s a greater chance of ending up in the money as you typically make back your bet back with just one hit.
Live Bets
With our Live Betting portal, you can bet while the game is happening in real time. This dynamic betting platform tests your reactions and rewards you when you’re right. Think a losing team is going to mount a comeback like Tom Brady and the New England Patriots did against the Atlanta Falcons at Super Bowl LI? Betting on New England before the game started would not have offered a big payout, but had you waited until they were down 28-3, you would have done very well.
Some popular live betting markets include guessing which team will score next, which player will score next, whether the next score will be a field goal or touchdown, and whether or not a quarterback will be picked off. There’s lots to choose from in Live Betting.
Why Bet on the Super Bowl at Bodog?
Just about everyone will be betting in some form or fashion on February 9. Putting some money down on a series of bets makes the game more fun to watch. When those bets come through, there’s even more reason to celebrate, you really will feel like an MVP.
Our sportsbook has been serving Canadian bettors since 1994. We make it easy to get in the action with a user-friendly platform and a mobile-optimized site. Signing up for a Bodog account can be done instantly by clicking “Join Now”; just key in your name, birthday, mobile number and postal code. And don’t forget: new players are eligible for our Sports Welcome Bonus—a 100% match bonus for up to $400.
In the sportsbook, you’ll notice that our odds are far more competitive than the average bookie. We pride ourselves in offering solid value for all of our betting markets. Lastly, we also offer a treasure trove of informative guides and articles to help you become a more informed and successful sports bettor. While betting always has risks, a little education can go a long way in making sure people place the best bets possible for them. And let’s face it: betting on sports is more fun when you’re winning.