Oddsmakers have Panthers as favorites the first time this season vs. Saints

All season long, the Carolina Panthers have been underdogs. They've not yet been favored in a game this season due to a myriad of factors. The opening two games weren't against dominant teams, but they looked so bad in them that oddsmakers had to shift the approach. Once the Panthers started playing better, they had tougher opponents.

The New York Jets game is the one anomaly here, although some sportsbooks had the Jets favored to win. The opening odds on several major sportsbooks favored New York, but then shifted. Still, at some point, the Panthers have been underdogs every time. That is, every time until this week, according to DraftKings.

Panthers finally favored in matchup against Saints

Carolina Panthers, Bryce Youn — Nov 2, 2025; Green Bay, Wisconsin, USA; Carolina Panthers quarterback Bryce Young (9) reacts as running back Rico Dowdle (5) scores a touchdown against the Green Bay Packers during the game at Lambeau Field. Mandatory Credit: Tork Mason-USA TODAY Network via Imagn Images | Tork Mason-USA TODAY Network via Imagn Images

The Carolina Panthers have defied the odds, literally, to get to 5-4 heading into Week 10. It looks like the good times will keep rolling, as the hapless New Orleans Saints are next up. The odds like Carolina for the first time since last season at home against the Dallas Cowboys.

Carolina returns home, where they're 3-1 on the year and Bryce Young is unbeaten, to take on the New Orleans Saints. They're currently 5.5-point favorites, which is -108 on DraftKings. The Saints are -112 to cover the spread. The Panthers moneyline, though, is -238, which is pretty substantial.

The Panthers have played pretty good football of late, and the Saints have not. Now, the Panthers can absolutely lose this game. They seem to work better as underdogs. That game they were favored in last season against Dallas was the first time they'd been favored in literal years, and they laid an absolute egg.

However, this Panthers team is different. They're much more well-rounded. The defense is actually somehow kind of good, and Rico Dowdle is one of the best running backs in the entire NFL. The odds are justified here.

The Panthers are just the second NFL team since 1970 to have a winning record through 9 games despite being an underdog in EVERY game

(CBS Sports Research) pic.twitter.com/MUsyJp2KKy
— Jordan Dajani (@JordanDajani) November 2, 2025

On the other hand, the Panthers obviously do well as the underdogs. They're the second team since 1970 to be above .500 after nine games despite being an underdog every single time. That's impressive, but let's hope the success continues when they're favored.

- Enjoy more free Panthers coverage with Carolina Panthers on SI -

Panthers studs & duds from a shocking upset win over the Packers

Takeaways from the Panthers’ thrilling walk-off win against Green Bay

Panthers linked to rivals second-round pick as trade deadline target

Insider reveals where Panthers stand going into the NFL trade deadline