Between now and Super Bowl Sunday, there are going to be a lot of bets made on the big game, but not many of them will top the one that was just placed at Caesars Sportsbook.
According to Caesars, a gambler in Michigan has placed a $1 MILLION bet on San Francisco to win it all. This was a money line bet with the odds set at -120, which means if the 49ers beat the Chiefs in Super Bowl LVIII, then the gambler will be going home with a nice profit of $833,333.33.
Although this gambler didn’t bet on the point spread, plenty of other bettors will, which should make things interesting between now and Feb. 11. The point spread for the Super Bowl has been all over the place since it first came out Jan. 28. The 49ers opened as a 2.5-point favorite, but gamblers started hammering the Chiefs, which dropped the point spread down to 49ers (-1). Over the past few days, the point spread has been on the move back toward San Francisco, with most sportsbooks settling in at either 49ers (-2) or 49ers (-2.5). (You can watch the game at 6:30 p.m. on Sunday on CBS, a simulcast on Nickelodeon or streaming on Paramount+.)
With Patrick Mahomes thriving as an underdog, most of the money so far has been bet on the Chiefs, which is why it could be viewed as mildly surprising that someone just put $1 million on the 49ers. Mahomes has played in 12 games as an underdog in his career, and he’s gone 10-1-1 against the spread and 9-3 straight-up.
This will mark the third straight game that Mahomes and the Chiefs have been the underdog. They were a 2.5-point underdog in the divisional round against the Bills, but they ended up winning anyway, 27-24. In the AFC title game, they were also an underdog (four points), but that didn’t stop them from beating the Ravens, 17-10.
The $1 million bet on the 49ers won’t be the last big bet we see between now and Feb. 11. As a matter of fact, Caesars also had someone make a hefty bet on the coin toss: One gambler is betting $100,000 that the coin toss will come up tails, which makes sense, because tails never fails.
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