The 2024 NFL Season: A Betting Bonanza
The 2024 NFL season was nothing short of a spectacle, not just for the thrilling games and standout performances, but also for the massive impact it had on the sports betting industry. With an estimated $35 billion on the line throughout the season and a staggering $1.4 billion wagered on the Super Bowl alone, it’s clear that the stakes were higher than ever.
Favorites had a field day this season, with a record of 195-77 outright in the 2024 regular season, marking their best performance since 2005. December was particularly kind to those who backed the favorites, as they enjoyed a rare win during this penultimate month. But which teams and players were the real MVPs for bettors? Let’s dive into the details.
On Heavy Rotation: The Teams the Public Couldn’t Get Enough Of
The Detroit Lions were the talk of the town heading into the 2024 season. With odds of +1000, they weren’t the top favorites to win Super Bowl LIX, but they were certainly one of the most popular wagers among the betting public. This excitement carried over into the regular season, where Dan Campbell’s squad became the most-bet team on a game-to-game basis across major sportsbooks. They were involved in two of the most-bet games of the season, against the Green Bay Packers in Week 14 and the Minnesota Vikings in Week 18.
The Lions didn’t disappoint their backers, finishing with a 12-5 (.706) record against the spread, the second-best in the NFL. They also boasted the highest average cover margin in the league at 7.71, highlighted by their Week 6 thrashing of the Dallas Cowboys as 3.5-point favorites. That game saw a 34.5-point cover margin, the largest in any NFL game all season. While their games had a 9-8 record to the over, they featured the highest average pregame total in the league at 50.62.
The Kansas City Chiefs, despite falling short of a historic Super Bowl three-peat, remained a popular choice among bettors. Entering the season as preseason championship favorites (+500), they consistently attracted a large portion of public bets. They were a consensus top-three most-bet team, with ESPN BET and DraftKings ranking them just behind Detroit in terms of handle. However, the Chiefs struggled to a 7-10 (.412) ATS record, with an uncharacteristically shaky offense leading to a 7-10 record to the under.
Despite these struggles, Chiefs games were among the most-bet all season, with their opening game against the Ravens being the most-bet game of the 2024 campaign.
The Baltimore Ravens were another team that captured the attention of bettors throughout the 2024 season. Led by the dynamic duo of Lamar Jackson and Derrick Henry, the Ravens finished with a solid 10-7 ATS record. Their offense was electric, leading to a 13-4 (.765) record for overs in their games, tied with the Carolina Panthers for the best over record in the league.
Deep Cuts: The Teams That Made a Mark Against the Spread
These teams weren’t popular among bettors in 2024 but they were significant in the betting markets… for better or worse.
The Los Angeles Chargers boasted the best ATS record of the 2024 NFL regular season, with 13 wins against the number. This tied them with 12 other teams for the most all-time, although their cover percentage (.765) didn’t quite reach the all-time record of .929 set by the 2004 San Diego Chargers. Despite not being a heavily bet team, DraftKings ranked them fifth on its list of top moneymakers for bettors.
The Denver Broncos defied expectations by making the playoffs, despite having the second-longest odds to do so at +750. They became the biggest longshot to make the playoffs since the 2011 Bengals. Remarkably, they went undefeated ATS as a favorite, posting an 8-0 record, the best in the Super Bowl era. Their playoff-clinching game against the Chiefs saw them win 38-0 as 11.5-point favorites.
On the flip side, the Tennessee Titans had a season to forget, finishing as the worst ATS team of the 2024 season with a 2-15 (.118) record. This was the worst ATS performance in the Super Bowl era, surpassing the 1976 Tampa Bay Buccaneers. The Titans didn’t cover any games as a favorite and had the second-worst average cover margin at -5.56.
The Hit Makers Who Set the Vibe for the Season
“King Henry” was a favorite among bettors, leading the way in the anytime touchdown scorer markets. BetMGM also reported him as the most popular player in non-TD prop markets. DraftKings ranked him third on its player moneymaker rankings.
Lamar Jackson was another popular pick, topping multiple sportsbooks’ lists for the most-bet player in non-TD props. He was a popular choice in the MVP futures markets, although he ultimately lost out to Bills QB Josh Allen.
Saquon Barkley was a key player in the Philadelphia Eagles’ Super Bowl-winning season. He was a regular feature in both TD and non-TD player prop markets. At ESPN BET, he was the first running back to appear among the most popular non-TD scorers, despite facing high rushing yard props.
The Crowd Went Wild: Bettors Were Obsessed with Super Bowl LIX
Barkley’s dominance was expected to continue into Super Bowl LIX, with about 20% of all Super Bowl player prop wagers at ESPN BET placed on him. However, he had a relatively mediocre game, failing to reach his rushing yards prop mark and not finding the endzone. This was a boon for sportsbooks, including those in Nevada, who netted a record $22.1 million on the Super Bowl.
Meanwhile, bettors in Pennsylvania profited from their hometown Eagles’ victory, as the state’s sportsbooks lost $6.5 million on Super Bowl LIX. ESPN BET reported that 73% of wagers in the state were on Philly, compared to less than 50% nationwide.
The Standout Bets of the Year
The Eagles were a magnet for big bets this season:
- A Kentucky bettor at Circa Sports placed a $3.1 million bet on the Eagles moneyline (-700) to beat the Panthers, one of the largest bets in NFL regular season history. Philly won the game on a dropped pass from Carolina receiver Xavier Legette.
- A bettor at Caesars Palace in Las Vegas placed a $1 million wager on the Los Angeles Rams to cover a three-point underdog spread against the Eagles; L.A. lost the game 37-20.
- A bettor at BetMGM wagered $800,000 on the Eagles moneyline for Super Bowl LIX; DraftKings reported a $500,000 bet backing Philly in the Big Game.
Many bettors also struck gold with parlays:
- DraftKings had a bettor wager $0.50 at +15,989,900 odds for a season-long stats parlay, cashing in for $79,950.
- ESPN BET took two massive parlays on the final day of the regular season that both cashed, including a $5 wager at +214,164 odds to win $10,708.21.
Originally Written by: Doug Greenberg
