2021 Super Bowl odds: Chiefs the early favorites, 49ers not second on list of contenders

The 2019-20 NFL season is in the books. Which means the 2020-21 season is underway. Which means you can already place bets on who will win Super Bowl LV on February 7, 2021, in Tampa.

BetMGM released its early 2021 Super Bowl futures odds on Sunday night, shortly after the Kansas City Chiefs beat the San Francisco 49ers for the 2020 crown.

It’s no surprise, then, that the Chiefs lead the list of next year’s favorites. But a second team is hot on their tail. And it isn’t the Niners. It’s the team that beat the Chiefs to the No. 1 seed in the AFC. It’s the Baltimore Ravens.

(L-R) CEO of the Kansas City Chiefs Clark Hunt, Tight End Travis Kelce, Quarterback Patrick Mahomes (holding the Lombardi trophy), Wide receiver Mecole Hardman and Strong safety Tyrann Mathieu celebrate after winning Super Bowl LIV between the Kansas City Chiefs and the San Francisco 49ers at Hard Rock Stadium in Miami Gardens, Florida, on February 2, 2020. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)
The Kansas City Chiefs celebrated a Super Bowl in Miami. Will they repeat the feat in 2021? (Timothy A. Clary/AFP/Getty Images)

2021 Super Bowl favorites

Here are BetMGM’s prices, as of 12:30 a.m. ET on Sunday night/Monday morning:

(Note for novices: “7/1” is read as “7-to-1.” It’s the equivalent of +700, and means a $100 wager yields a $700 return.)

Kansas City Chiefs 6.5/1
Baltimore Ravens 7/1
San Francisco 49ers 9/1
New Orleans Saints 12/1
New England Patriots 14/1
Green Bay Packers 18/1
Philadelphia Eagles 18/1
Pittsburgh Steelers 18/1
Seattle Seahawks 19/1
Dallas Cowboys 20/1
Minnesota Vikings 20/1
Los Angeles Rams 22/1
Tennessee Titans 22/1
Cleveland Browns 32/1
Houston Texans 33/1
Atlanta Falcons 35/1
Buffalo Bills 35/1
Chicago Bears 35/1
Indianapolis Colts 40/1
Los Angeles Charges 45/1
Las Vegas Raiders 50/1
Tampa Bay Buccaneers 55/1
Denver Broncos 60/1
Carolina Panthers 66/1
Detroit Lions 70/1
New York Giants 70/1
New York Jets 70/1
Arizona Cardinals 75/1
Jacksonville Jaguars 80/1
Cincinnati Bengals 100/1
Miami Dolphins 100/1
Washington Redskins 150/1

Notable 2021 Super Bowl odds

Some notes and takeaways from BetMGM’s early numbers:

  • The Ravens will have the reigning MVP and a high-powered offense that will remain largely intact. Their loss to the Titans in the AFC divisional round was pretty fluky. In fact, if there were odds on who’ll finish the 2020 regular season as the AFC’s No. 1 seed, the Ravens would probably be at the head of the pack. And it would not be surprising if they enter the 2020 season next September as Super Bowl favorites.

  • The Saints and Patriots have varying levels of uncertainty at quarterback. In the eyes of oddsmakers, however, they are a clear No. 4 and 5 behind the two 2020 Super Bowl contestants and the Ravens.

  • The Steelers, with Ben Roethlisberger set to return from injury, have the shortest odds (18/1) of any non-playoff team from this past season. The Cowboys are close behind at 20/1.

  • The Browns, who combusted in semi-predictable fashion this past season, have shorter odds than the Texans, who led the now-Super Bowl champs by 24 points in a playoff game.

  • The Bills, at 35/1, have the longest odds of any 2019-20 playoff team.

  • The Arizona Cardinals have the 2019 offensive rookie of the year in Kyler Murray. The Cincinnati Bengals will almost certainly have the heavy favorite for 2020 offensive rookie of the year in Joe Burrow. Nonetheless, they are 75/1 and 100/1, respectively.

More Super Bowl LIV coverage from Yahoo Sports: