Huge Super Bowl 56 Bets Placed on BetMGM; $400K Possible Payout

betmgm-115x115BetMGM is one of the best sportsbooks when it comes to providing fantastic betting insight for its consumers. Recently, BetMGM dropped a new insight release regarding Super Bowl 56 wagers. The Super Bowl is always one of the most popular wagers, no matter the time of year. Basically, as soon as one Super Bowl is over, the odds are up for the next.

Massive Wagers on Super Bowl 56

According to BetMGM’s insight, there have been three notable big bets placed as of late.

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  • $10,000 to win $300,000 on Patriots at +3000
  • $5,000 to win $100,000 on Colts at +2000
  • $4,000 to win $400,000 on Giants at +10000

It really is no surprise to see a big wager placed on the Patriots even this early. Despite the departure of Tom Brady, bettors are still very confident in Bill Belichick’s ability to lead a winning team. The Patriots are returning a ton of players from opt-outs, and the team signed quite a few free agents. Not to mention the Patriots drafted former Alabama QB Mac Jones in the first round of this year’s draft. This team has talent. However, with all that said, +3,000 still seems a little short considering the talent in the division.

The other two bets included the Colts and the Giants. While the Colts bet makes sense if you are willing to bet on a bounce-back season from Carson Wentz, I really cannot fathom wagering on the Giants. This simply screams the New York betting market. New York teams often account for big wagers simply due to the large fan base that the teams carry.

Top Line Movement

kansas city chiefsThree teams have received big bumps when it comes to their odds for Super Bowl 56. First is the Chiefs, who have moved from +600 to +450. There really has not been a ton of news regarding the Chiefs besides strengthening the offensive line. Most of this movement is coming from the money pouring in from bettors on the Chiefs and Patrick Mahomes. Bettors believe the Chiefs are a great bet for Super Bowl 56 and currently account for 12.3% of all money wagered on Super Bowl 56.

The second team is the Buccaneers. I was shocked to see the team open at +1,200 after winning Super Bowl 55, and those odds did not last long. The team has moved to +650 and currently accounts for the most money wagered on BetMGM at 22.8% of the handle.

The third team to move up is the Rams moving from +2,000 to +1,200. However, this line movement was most likely driven by a QB change going from Jared Goff to Matthew Stafford. The Rams have received a good bit of wagers, but this movement is reflective of real-world changes, not betting pattern changes. This Rams team is stacked on paper and would likely be close to the Bucs’ +650 if it were not for the fact that the NFC West is absolutely stacked with four real Super Bowl challengers.

Matthew is a UC Berkeley economic and philosophy graduate. He has played DFS, Football pools, and survival leagues for most of his adult life. Matthew brings to the table great strategies for both your GPP and Cash plays as well as a winning track record with his picks of the week.

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