The Los Angeles Rams are the clear favorites to win Super Bowl LXI, holding +500 odds at DraftKings. However, history is not on their side: no preseason favorite with odds of +500 or shorter has won the title since the 1994 San Francisco 49ers, a streak of 23 consecutive failures. This trend highlights the unpredictability of the NFL and the depth of the current field.

Behind the Rams, the Buffalo Bills and Baltimore Ravens sit at +1000, while the Seattle Seahawks are at +1200. Interestingly, the Seahawks are the first reigning champions not favored to win their division since the 2016 Denver Broncos, reflecting the competitive balance in the NFC West. Bookmakers have tightened the odds across the board, with 16 teams listed at 25-1 or shorter, signaling a wide-open race.

Public betting is heavily on the Rams, with DraftKings reporting 20.2% of Super Bowl handle backing them. This one-way action has created liability for sportsbooks, as noted by Caesars' Joey Feavello. Meanwhile, long shots like the Denver Broncos (20-1) and New York Giants (70-1) are attracting sharp money, with one bettor placing a $10,000 wager on Denver to win $200,000.

The Las Vegas Raiders, at 150-1, are also drawing outsized interest at Bet MGM and Caesars due to their local appeal. As the season approaches, sportsbooks are bracing for further adjustments, but the Rams remain the team to beat—if history doesn't repeat itself.