How Do I Bet on the Super Bowl?

The Kansas City Chiefs and San Francisco 49ers are set to meet at Super Bowl LVIII on Feb. 11 at Allegiant Stadium in Las Vegas.

Here, I’ll explain how to wager on this matchup and include the latest Super Bowl LVIII odds available for NFL betting opportunities this weekend.

How Do I Bet on the Super Bowl?

To wager on the Super Bowl, visit a brick-and-mortar location in your province or state or create an account at a legal and licensed online sportsbook.

From there, you must deposit funds into your account that you are free to use for football betting.

The betting markets for Super Bowl LVIII include moneyline, point spread, totals, parlays, props, live betting, and more. 

After deciding how you want to wager on Super Bowl LVIII, add the wager to your online betslip, input the amount of money you wish to wager, and wait for the results. 

What Is the Moneyline Bet in the NFL?

A moneyline wager in the NFL includes picking who will win the game outright without any other strings attached. 

The odds represent the favoured team and the underdog. The favoured team is represented with “-” odds and the underdog receives “+” odds. 

Super Bowl odds are TIGHT! Who you got? pic.twitter.com/NOxpHOHxLF

— BetMGM Canada (@BetMGMCanada) February 8, 2024

What’s the Point Spread for the Super Bowl?

The point spread is a number designated for the game that illustrates the gap in power between two teams. 

As with moneylines, the favoured team is given a “-” and the underdog a “+.”

So, let’s see who is favoured to win the 2024 Super Bowl.

The 49ers are listed at -2, which means they need to win the game and do so by three points or more to cover the spread.

The Chiefs are +2. To cover the spread, they must win the game outright or lose by one or less. 

How to Read Odds?

For the most uncomplicated understanding of how to read odds, we’ll look at examples involving winning $100 or wagering $100. 

With “-” odd wagers, the odds attached are how much you’d need to wager to win $100. For example, if a team is -130, a successful $130 wager results in $100 in winnings. 

Conversely, if you bet $100 on the underdog, you’d win the amount of money attached to those odds. For example, if a team is +150, you’d win $150 with a successful $100 wager. 

How Much Money Have People Bet on the Super Bowl?

Last year, during Super Bowl LVII, an estimated 50.4 million adults wagered approximately $16 billion on the game. 

A survey conducted by data firm Morning Consult on behalf of the American Gambling Association suggests the betting handle could be north of $23 billion for Super Bowl LVIII.