Super Bowl 58 Reverse Line Movement & $1M Wager Placed at Caesars
Scott Morris | January 30, 2024
The Super Bowl point spread was issued at San Francisco -2 points and within half an hour came down to SF -1. The public has been taking shots at the book and 3 out of 4 bets have been on Kansas City.
The handle (total $) wagered has swung from 75% KC on our first action report down to 65% on KC today. That first report was with 26,000 wagers placed. There are now over 85,000 wagers recorded.
Again, the tickets and action currently look like this:
Team Tickets Money
Kansas City 74% 65%
San Fran 26% 35%
Despite the lopsided action on Kansas City, the line has crept back upward to San Francisco -2 again. This is a phenomenon known as “reverse line movement”. The line is moving the exact opposite way you’d expect it to move.
Usually this can happen when “sharps” wager on the other team. But there have been zero reports of sharp action thus far. It’s still early in the process and the Super does not kick off for another week and a half.
Large Wager Placed on Super Bowl 58
Caesars Sportsbook in Michigan took a $1M wager on the San Francisco moneyline (-120) today. There is no word as to who the bettor was or if this big bet had anything to do with the line shift. Usually one very large wager cannot move the line an entire point unless the wager is made by a well-known sharp.
Stay tuned to SBA for all your Super Bowl 58 betting news.
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