As we gear up for an incredible matchup between the Kansas City Chiefs and Philadelphia Eagles, some bettors might be wondering how to bet on the Super Bowl. The following is a step-by-step process for casting a bet, as well as a rundown of popular Super Bowl wagers.
How To Place a Bet on the Super Bowl
Super Bowl betting in 2023 has been projected to reach $16 billion. Yes, that’s “billion” with a “b.” If you want to add your two cents (or two dollars, or more), then read on.
Find a Promotion
It’s common for sportsbooks to issue promotions to bettors. Think of it as a win-win, where the sportsbooks attract new customers while retaining old ones, and bettors benefit by capitalizing on cost-saving opportunities.
For example, this NFL season, new customers on FanDuel Sportsbook can bet $5 and get $150 in free bets. By using various promotions throughout the year, you can make the most of such offerings.
Choose a Promotion and a Sportsbook
Some bettors select a promotion and then explore the possibilities with that sportsbook. Others begin with a preferred sportsbook, and then search (or wait) for the best promotion to come along.
Whatever your preferences, you can choose whatever sportsbooks are legal in your state or country of residence. Want to become a loyal BetMGM customer? Have at it. Want to “play the field” and scour opportunities across multiple operations? Even better.
Why? Because as you might know, sportsbooks don’t always offer the same lines and odds for the same bet. This is where shopping around can become your best friend — or, in fairness, your best inanimate friend, not to replace your actual talking/listening friends.
It’s as simple as it sounds. I first deposited $20 into a FanDuel account about 10 years ago. It took roughly a minute. Easy peasy.
Choose Your Bet
If you’re operating through one sportsbook, then simply scan the sport, games, bet types, etc. to find something you want to bet on. Or, scour multiple sportsbooks to find the most favorable line and/or odds.
For example, you might want to bet $5.00 on which team will win the Super Bowl. DraftKings might give you +125 odds on the team you prefer. FanDuel might offer +130 odds. On a straight moneyline bet, the +130 odds would give you a bigger payout if you’re correct. So objectively, all else being equal, that would be a more sensible bet.
You can also use services like Pikkit to access the latest lines across numerous sportsbooks so that you can easily make the most optimal decision.
What Are the Most Popular Super Bowl Bets in 2023?
Making a Moneyline Pick, Over/Under, or Spread
All major sportsbooks enable you to bet on moneylines, over/unders, and against the spread. FanDuel is one of many examples, offering lines and odds based on the latest intel and market reactions.
As alluded to above, moneyline picks are based on who wins or loses. There’s obviously no such thing as a “push” in the Super Bowl because there are no ties. So if you make a moneyline bet, money assuredly will change hands.
Over/unders are fascinating since they hinge on so many factors — some of which cannot be easily game scripted beforehand. If you pick the final score to come under 49.5 combined points, that might look good if the game’s 13-7 at halftime.
But what if there’s a pick-six or kickoff return for a touchdown early in the third quarter? Suddenly, the probabilities can shift dramatically.
Over/unders between two great offenses like the Chiefs and Eagles sometimes fall to the under, just as over/unders between two great defenses sometimes jump over. Understand that such factors already are baked into the lines and odds. Our job as savvy bettors is to try to identify what most of the market has not.
As for betting against the spread, this might be one of the most popular types of bets in the Super Bowl and in any other NFL game. The Eagles have been narrow favorites since the day after the Conference Championship games. This is essentially a toss-up, as the winner likely will cover the spread.
Popular Prop Bets to Target
For serious bettors seeking a wall-to-wall Super Bowl wagering experience, prop bets offer something unique. You can bet on many, if not most, core aspects of the game.
For example, you might bet on which players will score a rushing or receiving touchdown, which player will score the first touchdown, or who will score the last one. You can dig even deeper, finding +475 odds on Travis Kelce scoring twice. Or the Chiefs D/ST scoring three times (+20000 odds).
Interested in more TD-related bets? How about combinations (commonly referred to as “parlays”) with Justin Watson scoring and the Chiefs winning (+1200)? There are, honestly, too many TD-related parlays to count. This is the Super Bowl, after all. But use your imagination, pair it with actual sportsbooks, and you might find they’re pretty similar.
You can make similar bets concerning players’ over/unders on yardage, receptions, carries, pass attempts, etc. Each position has popular prop bets associated with them. This enables you to double down on a prediction. For example, if you believe Patrick Mahomes and Travis Kelce will connect early and often, then you might deduce that betting the over on yards for each makes sense.
States Where It’s Legal To Bet on the Super Bowl Online
Sports betting is becoming legal in more and more states, as well as overseas. Earlier this year, Ohio joined the ranks of U.S. states permitting sports betting, and if you live in these states, you’re free and clear to make bets on the Super Bowl.
For example, you can bet using FanDuel in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, or Wyoming.
DraftKings offers the same flexibility, as well as New Hampshire and Oregon.
Meanwhile, BetMGM has the same options as FanDuel, plus the District of Columbia and Mississippi and minus New York and Connecticut.
For the most up-to-the-minute laws on which operations can be utilized in your state, consult any sportsbook. They offer easy-to-use interfaces to highlight whether or not you can make wagers.