Who is the Underdog in This Year’s Super Bowl? (Super Bowl 2024 Odds)

The Kansas City Chiefs are the underdog in this year's Super Bowl, but the odds have been moving in their favor.

Kansas City head coach Andy Reid.
Kansas City head coach Andy Reid. / Mark Konezny-USA TODAY Sports

The Kansas City Chiefs won not one, but two games as straight-up underdogs in the NFL playoffs to advance to Super Bowl 58, the fourth time they've made the Super Bowl in the Patrick Mahomes-Andy Reid era.

Kansas City will face the San Francisco 49ers in this year's game, a rematch of Super Bowl 54. In that game, the Chiefs bested Kyle Shanahan and the 49ers, and they'll look to do it again this season.

However, for the third straight week and second straight Super Bowl, the odds are not in the Chiefs' favor to come out as the champions.

All postseason long, the San Francisco 49ers have been favored in the Super Bowl odds, and things have not changed, even with Kansas City's impressi

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Who Is the Underdog in Super Bowl 2024?

The Chiefs are underdogs in this year's Super Bowl, the second straight season Andy Reid's team has been set as an underdog on the NFL's biggest stage.

Kansas City opened up as a 2.5-point underdog, but action immediately started flying in on the Chiefs -- likely because of the team's two upset wins already this postseason.

That shifted the line down to Chiefs +1 on Monday. Since then, the odds have shifted back in favor of the 49ers. DraftKings Sportsbook has the 49ers as two-point favorites in this game, and there are other places with the 49ers sitting at -1.5.

Kansas City is +100 on the moneyline to win Super Bowl 58. That means the team's implied probability of capturing its second straight title is exactly 50 percent.

Mahomes, Travis Kelce, Chris Jones, and others have been in this situation before and come out victorious, so bettors shouldn't be overly worried by oddsmakers setting the Chiefs up as dogs.

49ers vs. Chiefs Odds, Spread and Total for Super Bowl 2024

Kansas City bettors have to love that oddsmakers set Mahomes as an underdog once again in the playoffs.

Mahomes has dominated as a dog in his career, going 10-1-1 against the spread and 9-3 straight up. In his last three games as a playoff underdog, Mahomes is a perfect 3-0.

You don't just have to bet on a side in the Super Bowl. There are many prop bets, totals and much more to consider wagering on as well. We'll have you covered here ate BetSided with picks for all different markets in Super Bowl 58.

Odds refresh periodically and are subject to change.

Find Peter Dewey's betting record here.