Biggest Winners and Losers in Super Bowl Odds After First Day of NFL Free Agency

NFL free agency got under way with a ton of huge signings on Monday, and that followed up a week of intriguing trades for contenders across the league.

Super Bowl MVP Kenneth Walker III is headed to the Kansas City Chiefs, Mike Evans is headed to the San Francisco 49ers and the Green Bay Packers and Dallas Cowboys made yet another trade involving a pass rusher.

Over the last 24 hours, some teams have drastically improved their rosters from last season while others have been quieter and retained a bunch of players.

The Los Angeles Rams have emerged as the clear Super Bowl favorite (+750) after trading for Trent McDuffie, signing Jaylen Watson and retaining Kam Curl to boost their defense. However, they’re not the only big winner of the early days of the offseason.

At SI Betting, we’ve been tracking each team’s Super Bowl odds since the end of Super Bowl LX to show bettors where the market is moving ahead of the NFL Draft. So far, there are a few teams that are up and a few that are down after one day of free agency.

Let’s examine the biggest winners – and losers – in the odds to win Super Bowl LXI.

Latest Super Bowl Odds for 2026 NFL Season

Odds via DraftKings Sportsbook

Los Angeles Rams: +750
Seattle Seahawks: +900
Baltimore Ravens: +900
Buffalo Bills: +950
Kansas City Chiefs: +1400
Green Bay Packers: +1500
San Francisco 49ers: +1600
Philadelphia Eagles: +1600
Los Angeles Chargers: +1600
Detroit Lions: +1700
New England Patriots: +1800
Houston Texans: +1800
Denver Broncos: +1900
Jacksonville Jaguars: +2500
Chicago Bears: +2500
Cincinnati Bengals: +3000
Dallas Cowboys: +3500
Tampa Bay Buccaneers: +4000
Pittsburgh Steelers: +5000
Minnesota Vikings: +6000
Indianapolis Colts: +6000
Washington Commanders: +6500
New York Giants: +7000
New Orleans Saints: +8000
Tennessee Titans: +9000
Carolina Panthers: +9000
Atlanta Falcons: +10000
New York Jets: +20000
Miami Dolphins: +20000
Cleveland Browns: +20000
Las Vegas Raiders: +20000
Arizona Cardinals: +30000

Biggest Winners in Latest Super Bowl Odds Movement

Baltimore Ravens (+1300 to +900)

The Baltimore Ravens have seen the most drastic jump when it comes to their Super Bowl odds, moving all the way up to third behind the Rams and Seattle Seahawks.

Baltimore made a blockbuster deal to acquire pass rusher Maxx Crosby from the Las Vegas Raiders, which should improve a defense that has started the last two seasons extremely slow. The Ravens did lose star center Tyler Linderbaum, but oddsmakers still believe this team is the best in the AFC (for now) after the Crosby deal.

Kansas City Chiefs (+1500 to +1400)

Kansas City is armed with the No. 9 pick in the NFL Draft, and any talks of a gap year in 2026 seem to have gone by the wayside after it signed Kenneth Walker III to a three-year deal. That’s a good sign that Patrick Mahomes will be ready for Week 1 after he tore his ACL in the 2025 season.

The Chiefs did lose McDuffie, Bryan Cook and Jaylen Watson, but they added safety Alohi Gilman as they look to rebuild their defense. Kansas City is armed with a lot of draft picks that will make or break its offseason.

Los Angeles Rams (+950 to +750)

I touched on the Rams earlier, but it’s hard not to love what they’ve done so far this offseason. Not only has L.A. gone all-in to chase a title with Matthew Stafford still playing at a high level, but it also has the No. 13 overall pick from a trade with Atlanta during the 2025 NFL Draft.

L.A. has jumped Seattle as the favorite to win Super Bowl LXI.

Las Vegas Raiders (+20000 to +20000)

The Raiders’ Super Bowl odds haven’t moved yet, but I love what they’ve done so far this offseason.

Las Vegas received a massive package in return for Crosby, which should allow it to bring in some talent around presumptive No. 1 overall pick Fernando Mendoza. In addition to that, the Raiders signed Linderbaum, traded for Taron Johnson, retained Eric Stokes and added Nakobe Dean, Quay Walker and Kwity Paye to their defense.

The Raiders are going to face an uphill battle in a loaded AFC West, but there’s no doubt that this team is trying to compete in 2026.

San Francisco 49ers (+1700 to +1600)

The San Francisco 49ers made a big splash, signing veteran receiver Mike Evans to bolster their offense with George Kittle hurt and Brandon Aiyuk likely done in San Fran.

That signing, and the plethora of players exiting Seattle, has helped the 49ers jump up in the odds to win the Super Bowl. They are now seventh in the league after sitting outside the top 10 following Super Bowl LXI.

Pittsburgh Steelers (+6000 to +5000)

Pittsburgh is quietly putting together a solid offseason, although it still needs to find an answer at quarterback.

The Steelers traded for Michael Pittman Jr. and added some cornerback help with Jamel Dean and Asante Samuel Jr. They then replaced Kenneth Gainwell by signing Rico Dowdle to a two-year deal.

The quarterback will ultimately determine Pittsburgh’s outlook in 2026, but the team has moved up in the odds to win Super Bowl LXI.

Biggest Losers in Latest Super Bowl Odds Movement

Atlanta Falcons (+8000 to +10000)

It’s been a tough offseason for the Falcons, who don’t have their first-round pick in the 2026 NFL Draft.

Not only could Atlanta lose James Pearce Jr. after his arrest, but it appears to be putting faith in a Tua Tagovailoa-Michael Penix Jr. duo at quarterback. That’s underwhelming to say the least.

Atlanta may have been the most talented team in the NFC South last season, but it’s going to be hard to make that case again with Carolina loading up after making the playoffs in the 2025 campaign. Ultimately, the Falcons’ QB room is likely what is driving their odds down.

Jacksonville Jaguars (+2000 to +2500)

Jacksonville has yet to make a big move in free agency, and it lost star linebacker Devin Lloyd, who signed with the Panthers. Jacksonville has lost the early arms race in the AFC, and it’s dropped from +2000 to +2500 to win Super Bowl LXI.

New England Patriots (+1300 to +1800)

Fresh off of a Super Bowl appearance, the New England Patriots made some small moves, adding pass rusher Dre’Mont Jones and offensive lineman Alijah Vera-Tucker. However, they appear to have struck out at receiver – so far – this offseason.

Alec Pierce returned to Indianapolis, and the Patriots released Stefon Diggs, leaving a pretty big hole in their offense. It’s possible an A.J. Brown trade could completely flip this offseason for New England, but oddsmakers have dropped them out of the top 10 in the Super Bowl odds for 2026.

Arizona Cardinals (+20000 to +30000)

Arizona is entering a rebuilding year, and it officially has the worst odds in the NFL to win Super Bowl LXI. The Cardinals missed out on Malik Willis (who signed with Miami) and instead opted for Gardner Minshew. This could be a rough season for Cardinals fans, and if Kyler Murray finds success elsewhere, it may only get worse.

Green Bay Packers (+1400 to +1500)

The Packers have been gutted over the last 24 hours, as they traded away Rashan Gary and lost Quay Walker and Willis in free agency.

Green Bay is still viewed as a contender in the NFC, but the only move the team has really made is to trade for Zaire Franklin. After yet another disappointing playoff appearance, the Packers may need to add more to this roster to truly compete for a Super Bowl in 2026.

Odds refresh periodically and are subject to change.

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