While these Super Bowl odds are high, they are not the highest of all time.
Super Bowl odds have seen a total of nine teams favored by more than 12 points in Superbowl history. The game that gets the most attention in terms of an underdog in Super Bowl odds was Super Bowl III when the Baltimore Colts were heavy favorites to defeat the New York Jets. In those days the NFL and AFL were separate leagues and the Colts were considered far superior to the Jets. The Colts had won three NFL Championships and were just coming off a 34-0 win at Cleveland that got them into the Superbowl. Super Bowl odds makers had the Colts as an 18 point favorite against the New York Jets. It was thought that the AFL couldn’t compete with the NFL. The first two Super Bowls had seen Green Bay from the NFL dominate two AFL teams. The Jets win over the Colts shocked Super Bowl odds makers and the entire football world. This year’s Giants may be an underdog, and a win would be surprising, but it would not match what happened in the 1969 Superbowl. The highest Super Bowl odds in history came from Super Bowl XXIX when San Francisco was an 18 point favorite against Denver. The 49ers won and covered the Super Bowl odds 49-26.
The Super Bowl odds on this year’s game opened with New England about a two touchdown favorite but that number has dropped to 12 points as bettors have taken a liking to the Giants. The Patriots are a perfect 18-0 but they have been money burners of late, losing seven of their last eight games against the pointspread.
If you are looking at Super Bowl odds you might want to consider a couple of basic facts. The public usually doesn’t pick games very well so the fact that they like the Giants should tell you New England will win big. History is also on the side of New England. There have been nine favorites in Super Bowl odds history of 12 points or more and six of the nine covered the spread.