Betting Odds Reveal Whether Carolina Panthers Really Improved in Free Agency

The Carolina Panthers are a pretty improved team after free agency. Or, they're not really, depending on who you ask. Plenty of NFL outlets believe the Panthers got a lot better, while others aren't so sure.

Aside from forming your own conclusions after a wild free agency period, there's one way to cut through the fog and see exactly how much better the Panthers are, or if they're somehow worse: the betting odds.

Prior to free agency, the Panthers had an over/under below seven wins, so the oddsmakers expected them to regress in 2026. After signing Devin Lloyd, Jaelan Phillips, and others, are they expected to win more or less?

Betting odds prove Panthers are a better team after free agency

Philadelphia Eagles linebacker Jaelan Phillips (50) looks on during warmups prior to an NFC Wild Card Round | Bill Streicher-Imagn Images

According to the shift in betting lines from earlier in the offseason to now, the Panthers are the most-improved team in the entire NFL. No team has seen their odds shift forward more than the Panthers, which is a good indicator that they spent well.

On February 19, CBS Sports' RJ White reports that the Panthers were at 6.6 wins (DraftKings). Now, after signing two star defenders and a couple of good offensive linemen, they're sitting at 7.3. That 0.7 change is bigger than everyone else's.

White said that the addition of Jaelan Phillips, as costly as it is in value and guarantees, it does put the defense in a better spot. At least in terms of these odds, it doesn't matter if the Panthers got the best value. They're better now than they were.

"It's clear the Panthers defense is seen as undergoing a significant upgrade this offseason," White wrote. "The Panthers did lose defensive lineman A'Shawn Robinson, center Cade Mays, and running back Rico Dowdle, but the market has elevated the Panthers more than any other team in terms of win total since our initial look at the DraftKings odds."

The line is still a little bit low in our opinion, but it is a whole lot better than the opening line. They were expected to not even reach seven wins after winning eight and getting more chemistry, more development, and other additions?

Now that they've made those additions, the Panthers look like a much better team, and they are. For what it's worth, the 7.3 line is now higher than the Falcons (7.1), but it's lower somehow than the Saints (7.5), and Buccaneers (8.45).

Jacksonville Jaguars linebacker Devin Lloyd (0) during AFC practice | Kirby Lee-Imagn Images

We're not sure exactly how the oddsmakers have come up with the Buccaneers, who collapsed and are aging (and lost Mike Evans and Lavonte David) are going to win over eight games and not the Panthers, but that's a story for another day.

Game odds refresh periodically and are subject to change. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.