Las Vegas Sportsbook Moves Super Bowl 53 Spread to Patriots -3 … For 17 Minutes
Kirby Lee-USA TODAY Sports. Pictured: General overall view of the Welcome to Fabulous Las Vegas sign
- On Tuesday afternoon, the sportsbook at Las Vegas' South Point Hotel, Casino and Spa became the first book to move the Super Bowl 53 betting line to New England Patriots -3.
- Let's examine why this line move is so significant to smart sports bettors, and how the market reacted to the new Super Bowl betting line.
Since betting odds opened for Super Bowl 53 between the New England Patriots and Los Angeles Rams, the market has been blitzed with Patriots money.
According to The Action Network’s public betting data, 84% of tickets and 87% of money wagered on the spread has come in on New England.
In fact, both casual and professional bettors are backing Tom Brady and Bill Belichick, forcing oddsmakers to continually adjust the Super Bowl 53 point spread.
With the market consensus sitting at Patriots -2.5, South Point, a casino located in Las Vegas, became the first sportsbook to move the line to -3 (-110).
This is significant because the nature of NFL scoring, specifically field goals being worth three points, leads to 15% of all games finishing with a margin of victory of three.
Here’s a look at how the most common margins of victory from 2003 through Super Bowl 52:
At the time, the key question was whether Los Angeles Rams money would show up to take the underdogs at the key number of +3.
Spoiler alert … it did.
Approximately 17 minutes after South Point tested Patriots -3, they moved the line back down to -2.5, suggesting that there was enough Rams buyback to convince oddsmakers to move off such an important betting number.
Bet sure to download The Action Network’s mobile app to track live odds and betting percentage update for Super Bowl 53.