The NFL is back and so is sports betting in the US. Led by a renewed interest in NBA, NHL, and MLB games, the sports betting industry in key US markets has been on a tear. The start of the NFL season drove the weekly handle higher in what could be a record fourth quarter in terms of total industry revenue.
Fueling the fire in the NFL was an early-season showdown between the Kansas City Chiefs and Baltimore Ravens. The two powers met in Week 3 on Monday Night Football. The final game in any week of the NFL season usually draws quite a few bets. This game drove the handle through the roof.
The Chiefs came away with an easier 34-20 victory than expected. They closed as three-point road underdogs with most US books. The total stayed UNDER the closing 55-point line. While most books took a beating with heavy money on the Chiefs, the result on the total eased some of the pain.
Interestingly enough, this game provided the second-highest handle on a single NFL matchup this season with many Las Vegas sportsbooks. The previous Monday night’s game topped the list. The New Orleans Saints were on the road to face the Raiders in their Las Vegas home opener.
The books also lost big on the Chiefs through the moneyline bets. It would have been a much steeper loss had the game gone OVER. This was pure luck after Kansas City’s kicker missed an earlier field goal and an extra point.
None the less, US sportsbooks, like Bet365, Borgata and Fox Bet, took the overall loss in stride. That is all part of the game. Over the long haul, these same books also know that things will swing back in their favor.
The most encouraging aspect of Monday night’s game was the total number of betting tickets it generated. The betting public is back in action in a big way. The NFL has always been the driving force from a revenue standpoint and that continues to be the case three weeks into the new season.
With that win, Kansas City has established itself as the clear favorite to win for this season’s Super Bowl betting. This is after the Chiefs came out on top against San Francisco in Super Bowl LIV.
William Hill sportsbook adjusted Kansas City’s futures odds to win Super Bowl LV to +400 with the team’s perfect 3-0 straight-up start. The Chiefs are 2-1 against the spread this season after failing to cover against the Los Angeles Chargers in Week 2.
Baltimore’s NFL futures odds to win the Super Bowl slipped to +650. This is followed by the Seattle Seahawks at +1000. The Green Bay Packers and Tampa Bay Buccaneers round out the Top 5 at +1200 betting odds.
Looking ahead to Week 4 in the NFL, the top betting matchup should be the New England Patriots as seven-point road underdogs against Kansas City. The Raiders at home against the undefeated Buffalo Bills as three-point underdogs should draw quite a bit of action in Las Vegas.
