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Chiefs installed as favorites as bookmakers release 2023 Super Bowl odds

Kansas City Chiefs quarterback Patrick Mahomes (15) holds the trophy after their win against the Philadelphia Eagles in the NFL Super Bowl 57 football game, Sunday, Feb. 12, 2023, in Glendale, Ariz. The Kansas City Chiefs defeated the Philadelphia Eagles 38-35.

Even with Super Bowl LVII ending less than 24 hours prior, bookmakers wasted little time unveiling odds for the 2023 season, which wraps up at Allegiant Stadium in Las Vegas.

It will be quite a spectacle for the Entertainment Capital of the World after recently hosting the NFL Draft in 2022.

The setting will be familiar for a Chiefs team that travels annually to the venue to take on the Raiders for divisional games.

2023 Super Bowl odds courtesy of FanDuel

Kansas City Chiefs +600

Buffalo Bills +850

Philadelphia Eagles +900

Cincinnati Bengals +900

San Francisco 49ers +900

Dallas Cowboys +1500

Baltimore Ravens +1600

Los Angeles Chargers +2000

Jacksonville Jaguars +2500

Detroit Lions +2500

New York Jets +2500

Los Angeles Rams +3000

Miami Dolphins +3000

Green Bay Packers +3500

Cleveland Browns +3500

Denver Broncos +3500

New Orleans Saints +3500

Minnesota Vikings +4000

Las Vegas Raiders +4000

New York Giants +4000

Pittsburgh Steelers +5000

Carolina Panthers +5500

Washington Commanders +5500

New England Patriots +5500

Seattle Seahawks +6000

Chicago Bears +6500

Tennessee Titans +7500

Atlanta Falcons +7500

Tampa Bay Buccaneers +7500

Indianapolis Colts +20000

Arizona Cardinals +28000

Houston Texans +28000

Quarterback uncertainty creates value on the betting board

The Chiefs will begin the season as defending champions after winning a second title following a third trip to the Super Bowl in the past four seasons.

As a result, it’s no surprise that the Chiefs have the shortest odds on the board at +600. Buffalo has the second-shortest odds at +850 despite not even making it to the AFC Championship.

After a valiant Super Bowl effort in their 38-35 loss to the Chiefs, the Eagles are priced at +900. Cincinnati and San Francisco join Philadelphia with odds at +900.

The Ravens might be a popular pick at +1600, as their team is somewhat built like the Eagles, given their strong defense and running game.

And if the Chargers can ever sort things out defensively, they’ll be worth a look at +2000. The Jaguars, Lions and Jets all showed tremendous improvement this season and are priced at +2500.

Other notable teams include the Dolphins (+3000), Packers (+3500), Broncos (+3500) and Vikings (+4000).

The critical thing to take note of this offseason will be the game of musical chairs at the quarterback position.

Baltimore’s Lamar Jackson has yet to secure a long-term contract, while Green Bay could look to part ways with Aaron Rodgers if they can find a trade partner.

Rodgers might have a potential suitor in the New York Jets. However, the Raiders might also be interested, as Derek Carr isn’t expected to return.

And then there’s the Dolphins, who got off to a 3-0 start but saw injuries to quarterback Tua Tagovailoa hamstring their season.

Tagovailoa suffered multiple concussions and missed the final three games of the Dolphins’ campaign.

One positive is that we’re seeing some of the younger quarterbacks in the league come to the forefront. The league looks to be in stable hands following the retirement of the seven-time Super Bowl winner, Tom Brady.

The reality is that this betting board has plenty of value, and I wouldn’t rule out another team having a similar climb to the top, just as we saw with the Philadelphia Eagles.