Updated Super Bowl Odds: Ravens Represent Major Sportsbook Liability

Wild Card Weekend is nearly in the books, and the 2025 Super Bowl odds have shifted a touch with several more teams watching from their couches.

Jason Logan: Senior Betting Analyst at Covers
Jason Logan • Senior Betting Analyst
Jan 13, 2025 • 11:31 ET • 4 min read
 NFL Derrick Henry Baltimore Ravens
Photo By - Imagn Images. Baltimore Ravens running back Derrick Henry.

The 2025 Super Bowl odds are updated… or as updated as they can be with one more Wild Card game on the schedule tonight.

As it stands, the Detroit Lions (+325) and Kansas City Chiefs (+350), who both enjoyed byes into the second round, are still the oddsmakers' favorites to win Super Bowl LIX. No surprises there.

After the events of Wild Card Weekend, the Baltimore Ravens (+475), Buffalo Bills (+520), and Philadelphia Eagles (+450) all had their Super Bowl futures almost cut in half. The Washington Commanders see a notable shift in price as well, going from +5000 to +2700 after stealing a win as underdogs in Tampa Bay.

Here’s a look at the current NFL odds to win Super Bowl LIX before the final Divisional Round matchup is locked in.

2025 Super Bowl Odds

Super Bowl odds courtesy of Caesars as of 1-13-25.

Ravens on the rise

In a funny twist of bookmaking, the Buffalo Bills (+520) hold longer odds to hoist the Lombardi Trophy than the Baltimore Ravens (+475), despite being a slim favorite for their Divisional Round date this weekend.

This contrast reflects the liability sportsbooks have on Baltimore to win the Big Game — owning the third-highest payout in the SBLIX book behind the Detroit Lions and Kansas City Chiefs

The Ravens opened this season around +900 to win it all but a two-game stumble to start the schedule bumped Baltimore to +1400. From there, the Ravens only lost two more games and entered the playoffs at +600 odds to win Super Bowl LIX.

Looking over the Wild Card results, it’s tough not to say the Ravens put in the most impressive performance among the openers. 

Baltimore ran through the Pittsburgh Steelers defense with ease on Saturday, amassing close to 300 rushing yards, and now enjoy an extra day of rest before traveling to Orchard Park for Sunday’s showdown with a Buffalo team it beat 35-10 at home back in Week 4.

Baltimore offers value in Super Bowl MVP betting

If you believe in Baltimore and want to squeeze a little extra value out of the Ravens’ Super Bowl chances, look to the Super Bowl MVP odds market. There you’ll find quarterback Lamar Jackson at +550 — the second overall choice behind Patrick Mahomes (+430) – but can also bet running back Derrick Henry at +1800.

Henry was the offense's focal point in the Wild Card Round, smashing his way to 186 yards on 26 carries and two touchdowns versus Pittsburgh. He finished with 199 rushing yards on 24 attempts and two TDs (one rushing, one receiving) in the one-sided win over the Bills in Week 4.

Baltimore can win big games without Jackson taking over, as long as Henry is chewing up yardage between the hash marks and cashing in on those red-zone sets. At +1800, he’s going to give you a great position come Super Sunday if Baltimore can make it to the Big Easy.

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Jason Logan Senior Industry Analyst Covers.com
Senior Betting Analyst

In his 20 years with Covers, lead NFL betting analyst “JLo” has seen it all and bet it all. Through the wild west of early Internet gambling to lobbying for legalized sports betting to our brave new wagering world, Jason has been a consistent source of actionable info and entertainment for squares and sharps alike.

Since joining the Covers team back in 2005, he’s honed his handicapping skills to provide audiences with the most thorough insights, blending traditional capping methods with advanced modelling and predictive analysis. Jason has studied the ins and outs of the sports betting business, learning from some of the most successful gamblers in the industry and the biggest sportsbook operators on the planet.

He is under center for Covers during NFL season as our top NFL expert, taking the points in his infamous “NFL Underdogs” column and representing the Covers Community at the Super Bowl. While he lives for football season, Jason’s first love is basketball and that shows in his in-depth NBA, NCAA, and WNBA betting breakdowns.

On top of being a mainstay in media from coast to coast – WPIX, PHL17, Fox 5 San Diego, WGNO, TSN, SportsNet, ESPN Radio – he’s had his analysis featured in USA Today, MSNBC, ESPN, the Wall Street Journal, CBS, Bloomberg, the L.A. Times, the New York Times and other major publications. You can also find JLo stuffing all the top picks and predictions he can into 10 minutes as the host of Covers’ flagship podcast, The Sharp 600.

His best advice for bettors new and old is “Handicapping isn’t a ‘one size fits all’ process. The impact and importance of information varies from bet to bet. Treat each wager different than the last.”

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