Super Bowl LXI odds: All 32 teams' odds to win the championship
On Tuesday, the Miami Dolphins traded wide receiver Jaylen Waddle and a 2026 fourth-round draft pick to the Denver Broncos for 2026 first-, third- and fourth-round picks, according to ESPN's Adam Schefter. The Broncos had lengthened from 19-1 to 20-1 to win the Super Bowl in the past week, but news of the trade instantly shortened them to 18-1. Denver also improved from 10-1 to +900 to win the AFC and from +240 to +225 to win the AFC West.
On the other side, the Dolphins briefly "improved" from +450 to +400 to have the fewest wins in the league, but then shot up to +475, possibly owing to some buyback on the odds leader in the market, the Arizona Cardinals (+250). Miami's win total of 4.5 is tied for the lowest in franchise history since 1989, per SportsOddsHistory.
At the top of the Super Bowl odds board, the order of favorites has not changed in the last week, even as the odds themselves have: The Los Angeles Rams moved from +750 to +850, while the Baltimore Ravens, Buffalo Bills and Seattle Seahawks all lengthened from +900 to 10-1. The potentially resurgent Kansas City Chiefs, meanwhile, moved up to fifth on the board from 15-1 to 14-1, while the San Francisco 49ers moved into a three-way tie for sixth by moving from 17-1 to 15-1.
