Super Bowl LVIII Betting: San Francisco 49ers Open as Small Favorite Against Kansas City Chiefs

The Super Bowl LVIII matchup is set, and so are the opening betting lines.

The San Francisco 49ers are 1-point favorites against the Kansas City Chiefs when they face off in the championship game on Sunday, February 11, 2024 in Las Vegas, Nevada.

The 49ers are -120 favorites on the moneyline, while the Chiefs can be wagered on at +100 at Caesars sportsbook. The scoring total is listed at 47.5 points at Caesars, as both teams have very good offenses but also impressive defenses.

This is not a new position for the Chiefs, who were underdogs against the Baltimore Ravens in the AFC Championship Game and the Buffalo Bills in the AFC Divisional Round.

Patrick Mahomes, who is the favorite to win the Super Bowl MVP at +120 over at BetMGM, is aiming for his third career Super Bowl title. Many thought Kansas City wouldn’t make the big game this season because it had some offensive struggles during the regular season, but both Mahomes and the defense have been phenomenal in the playoffs.

The 49ers were the Super Bowl favorites down the stretch but it’s been a bumpy ride to this point, as they needed to rally for wins over both the Green Bay Packers and Detroit Lions.

Nevertheless, they have made it here, and certainly have the deeper roster. Quarterback Brock Purdy has been up and down in the postseason but made some huge plays in the second half to help the 49ers rally against Detroit.

He has +220 odds to win MVP over at BetMGM, while star running back Christian McCaffrey comes in at +450.

It has been folly to bet against Mahomes in this postseason run as he and the Chiefs have been fantastic, but to me this spread is too much of a reaction to recent performance.

The 49ers have been the superior team in all facets this season. There is a concern about Purdy playing on the biggest stage just one year after being the final pick in the draft, but he is a cerebral player who has now played in many big games in the NFL.

I wouldn’t be surprised to see the 49ers become slightly bigger favorites on the moneyline as the next two weeks go on because they have the superior team and have the pass-rush to make life difficult for Mahomes.

This could be a good time to take the 49ers. The best moneyline value is currently being offered by FanDuel, which has San Francisco at -112 to win the Super Bowl.