Where you bet is as important as what you bet. Philadelphia could win outright or lose by just one point to cover the spread. This means the Chiefs have to win by two or more points to cover the spread. In this example, the Kansas City Chiefs are a -1.5 favorite, and the Philadelphia Eagles are +1.5 underdog. And, for the underdog to cover, it must win outright or lose by less than the spread. The favorite is indicated by a negative value (-) in front of the spread, and the underdog is indicated by a positive value (+) in front of its spread.įor the favorite to cover the spread, it must win by more than the point spread. It’s the perceived margin of victory of the game. The point spread is the most popular way to bet on the Super Bowl. Sportsbooks will then add to the Super Bowl betting options during the two-week ramp-up to Super Bowl Sunday. The first Super Bowl 2024 odds line oddsmakers release when the teams are set is the point spread, followed by the moneyline odds and the Over/Under total. Learn how to read Super Bowl LVIII betting odds and get tips and strategies with our comprehensive Super Bowl betting guide. That mass appeal of the Super Bowl draws in plenty of new sports bettors, all wondering how to bet on the Super Bowl.