Super Bowl odds, therefore, don’t always equate to the true merits of the teams but instead are based on the Super Bowl betting public’s perception. Dating back to the beginning of the Super Bowl odds, there are great lessons that all gamblers can and MUST learn from to avoid mistakes that are made against the Super Bowl odds to this very day.
Perhaps the greatest lesson on Super Bowl odds merits and value comes from January, 1969, in Super Bowl III. Back then, the Super Bowl was between the champions of two different leagues.
The Baltimore Colts were champions of the National Football League, (which is now the NFC), and the New York Jets were champions of the American Football League, (which is now the AFC). Baltimore entered the game as huge Super Bowl odds favorites of 18 points as nobody in Super Bowl betting gave the Jets a chance.
The Super Bowl odds for this game were based on the perception that the NFL teams were far better than the AFL teams.
Super Bowl betting fans had that stereotype reinforced from the first two Super Bowls in which the Green Bay Packers easily defeated the AFL’s Kansas City Chiefs and Oakland Raiders as they covered the Super Bowl odds without a problem.
Baltimore was 14-1 entering Super Bowl III and appeared invincible, which only added to their big number against the Super Bowl odds. But those who took a closer look and turned off the hype could see that the number was way out of whack.
The Colts offense did not feature a strong breakaway running attack and quarterback Earl Morrall may have been the NFL MVP but his numbers were not spectacular. Beyond that, a close evaluation of the Super Bowl odds showed that the Jets had an excellent defense and an offense with far greater explosiveness and the ability to move the ball.
By the time the game began the Super Bowl odds in no way reflected the ACTUAL merits of the teams as proven by the Jets 16-7 upset win, which may be the biggest of all time!
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