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Tom Brady, New England Patriots betting favorite to win Super Bowl 51 over Atlanta Falcons

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As football lovers gear up for Super Bowl 51, fans will be tuned into set projections associated with each team's chances of winning the big game.

The conference championships wrapped up on Sunday night when the New England Patriots rolled on the Pittsburgh Steelers 36-17. The Atlanta Falcons also advanced to the next round when they defeated the Green Bay Packers 44-21.

The New England Patriots are favored (-3) at -155 to raise the Lombardi trophy this season, while the Atlanta Falcons are set at +125.

The Falcons last week saw the biggest uptick in Nate Silver's prediction model, as their chances increased to 25 percent from 13 percent. The Patriots then lead the pack at 43 percent, while the Packers and Steelers were nearly even at 16 percent and 15 percent, respectively.

Super Bowl 51 is slated for Sunday, Feb. 5 when the Falcons and Patriots will face off as they battle for a spot in the Houston game. The game will be broadcast on FOX.

RELATED: Each Super Bowl's Most Valuable Player:

51 PHOTOS
Each Super Bowl's Most Valuable Player
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Each Super Bowl's Most Valuable Player

Super Bowl I: Bart Starr, Green Bay Packers quarterback

(Photo via Kidwiler Collection/Diamond Images/Getty Images)

Super Bowl II: Bart Starr, Green Bay Packers quarterback

(Photo by Sporting News/Sporting News via Getty Images)

Super Bowl III: Joe Namath, New York Jets quarterback

(Photo by Bettmann via Getty Images)

Super Bowl IV: Len Dawson, Kansas City Chiefs quarterback

(Photo by Tony Tomsic/Getty Images)

Super Bowl V: Chuck Howley, Dallas Cowboys linebacker

Howley is the only player from a losing team to be chosen as the game's MVP. 

(Photo by Fred Roe/Getty Images)

Super Bowl VI: Roger Staubach, Dallas Cowboys quarterback

(Photo by Kidwiler Collection/Diamond Images via Getty Images)

Super Bowl VII: Jake Scott, Miami Dolphins safety

(Photo by Bruce Bennett Studios/Getty Images)

Super Bowl VIII: Larry Csonka, Miami Dolphins running back

(Photo by Focus on Sport/Getty Images)

Super Bowl IX: Franco Harris, Pittsburgh Steelers running back

(Photo by Sylvia Allen/Getty Images)

Super Bowl X: Lynn Swann, Pittsburgh Steelers wide receiver

(Photo by Bettman via Getty Images)

Super Bowl XI: Fred Biletnikoff, Oakland Raiders wide receiver

(Photo by Focus on Sport/Getty Images)

Super Bowl XII: Harvey Martin (pictured), Dallas Cowboys defensive end and Randy White, Dallas Cowboys defensive tackle

This is the only time in history that two MVPs were declared. 

Randy White is also the only defensive tackle to win the award to date.

(Photo by Kidwiler Collection/Diamond Images via Getty Images)

Super Bowl XIII: Terry Bradshaw, Pittsburgh Steelers quarterback

(Photo by Focus on Sport/Getty Images)

Super Bowl XIV: Terry Bradshaw, Pittsburgh Steelers quarterback

Bradshaw joined Bart Starr as the only players to win the MVP Award in back-to-back years.

(Photo by Fred Roe/Getty Images)

Super Bowl XV: Jim Plunkett, Oakland Raiders quarterback

(Photo by Andy Hayt/Getty Images)

Super Bowl XVI: Joe Montana, San Francisco 49ers quarterback

(Photo by Focus on Sport/Getty Images)

Super Bowl XVII: John Riggins, Washington Redskins running back

(Photo by Nate Fine/Getty Images)

Super Bowl XVIII: Marcus Allen, Los Angeles Raiders running back

(Photo by Bettmann via Getty Images)

Super Bowl XIX: Joe Montana, San Francisco 49ers quarterback

This was the second time Montana won the award.

(Photo by Icon Sportswire via Getty Images)

Super Bowl XX: Richard Dent, Chicago Bears defensive end

(Photo by Focus on Sport/Getty Images)

Super Bowl XXI: Phil Simms, New York Giants quarterback

(Photo by Rob Brown/Getty Images)

Super Bowl XXII: Doug Williams, Washington Redskins quarterback

(Photo by Bettmann via Getty Images)

Super Bowl XXIII: Jerry Rice, San Francisco 49ers wide receiver

(Photo via Reuters)

Super Bowl XXIV: Joe Montana, San Francisco 49ers quarterback

With this award, Montana became the first player in history to be the Super Bowl MVP three times. 

(Photo by Icon Sportswire via Getty Images)

Super Bowl XXV: Ottis Anderson, New York Giants running back

(Photo by Allen Dean Steele/Getty Images)

Super Bowl XVI: Mark Rypien, Washington Redskins quarterback

(Photo by: Andy Hayt/Getty Images)

Super Bowl XVII: Troy Aikman, Dallas Cowboys quarterback

(Photo credit ROBERT SULLIVAN/AFP/Getty Images)

Super Bowl XVIII: Emmitt Smith, Dallas Cowboys running back

(Photo by Jonathan Daniel via Getty Images)

Super Bowl XXIX: Steve Young, San Francisco 49ers quarterback

(Photo by Focus on Sport/Getty Images)

Super Bowl XXX: Larry Brown, Dallas Cowboys cornerback

Brown is the only cornerback to win the MVP Award to date. 

(Photo by Mike Powell via Getty Images)

Super Bowl XXXI: Desmond Howard, Green Bay Packers kick/punt returner

Howard is the only punt returner to win the MVP Award to date. 

(Photo by Al Bello /Allsport via Getty Images)

Super Bowl XXXII: Terrell Davis, Denver Broncos running back

(Photo via Reuters)

Super Bowl XXXIII: John Elway, Denver Broncos quarterback

(Photo via Reuters)

Super Bowl XXXIV: Kurt Warner, St. Louis Rams quarterback

(Photo via Reuters)

Super Bowl XXXV: Ray Lewis, Baltimore Ravens linebacker

(Photo via Reuters)

Super Bowl XXXVI: Tom Brady, New England Patriots quarterback

(Photo credit JEFF HAYNES/AFP/Getty Images)

Super Bowl XXXVII: Dexter Jackson, Tampa Bay Buccaneers safety

(Photo via REUTERS/Mike Blake MR/HB)

Super Bowl XXXVIII: Tom Brady, New England Patriots

This was Brady's second time being selected as Super Bowl MVP. 

(Photo via REUTERS/Win McNamee)

Super Bowl XXXIX: Deion Branch, New England Patriots wide receiver

(Photo by Al Messerschmidt/Getty Images)

Super Bowl XL: Hines Ward, Pittsburgh Steelers wide receiver

(Photo by A. Messerschmidt/Getty Images)

Super Bowl XLI: Peyton Manning, Indianapolis Colts quarterback

(Photo via REUTERS/Brian Snyder)

Super Bowl XLII: Eli Manning, New York Giants quarterback

(Photo via REUTERS/Mike Blake)

Super Bowl XLIII: Santonio Holmes, Pittsburgh Steelers wide receiver

(Photo via REUTERS/Brian Snyder)

Super Bowl XLIV: Drew Brees, New Orleans Saints quarterback

(Photo via REUTERS/Jeff Haynes)

Super Bowl XLV: Aaron Rodgers, Green Bay Packers quarterback

(Photo via REUTERS/Mike Segar)

Super Bowl XLVI: Eli Manning, New York Giants quarterback

This was Manning's second time being named MVP. 

(Photo via REUTERS/Gary Hershorn)

Super Bowl XLVII: Joe Flacco, Baltimore Ravens quarterback

(Photo via REUTERS/Jeff Haynes)

Super Bowl XLVIII: Malcolm Smith, Seattle Seahawks linebacker

(Photo by Matthew Emmons-USA TODAY Sports via Reuters)

Super Bowl XLIX: Tom Brady, New England Patriots quarterback

Brady joined Joe Montana as the only players to be named Super Bowl MVP three times. 

Brady insisted the truck he was given with the award instead be given to cornerback Malcolm Butler. 

(Photo by Rob Carr/Getty Images)

Super Bowl 50: Von Miller, Denver Broncos linebacker

(Photo by AAron Ontiveroz/The Denver Post via Getty Images)

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Will Laws contributed to this report.

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