Yahoo Finance Super Bowl LIV betting: A $550,000 bet on Chiefs causes change in the point spread
MIAMI — BetMGM didn’t want to move the Super Bowl LIV line. But money talks.
And it was a lot of money that moved the betting line. Jeff Stoneback, director of trading operations for MGM Resorts International, said a bettor put $550,000 on the Chiefs as a 1-point favorite to win $500,000.
And with that, MGM moved the line to the Chiefs being a 1.5-point favorite over the San Francisco 49ers.
“That forced us to move it,” Stoneback said.
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The line could move back. Stoneback said there was word that a $1 million bet could come in soon on the 49ers’ moneyline (which is plus-105 odds for the 49ers to win straight up without the point spread).
Chiefs get another huge bet
Stoneback said earlier this week that he didn’t want to move off the 1-point line, anticipating 49ers money later in the week. The first two six-figure bets were on the Chiefs. One was $200,000 and the other was $150,000.
The third big bet pushed MGM off the 1-point line for the first time since it was set after the conference championship games. Still, MGM is expecting things to even out as the week goes on.
“I expect some San Francisco money to come in later this week,” Stoneback said.
One news item Wednesday could be important to any 49ers backers: Running back Tevin Coleman returned to practice Wednesday. Coleman injured his shoulder in the NFC championship game, but was listed as a limited participant in Wednesday’s practice. Coleman started 11 games for the 49ers and had 544 rushing yards during the regular season.
Stoneback couldn’t be certain, but he didn’t anticipate the line would move too much more before kickoff on Sunday.
“I would imagine the game will go off at 1 or 1.5,” he said. “I can’t see us going to 2 or a pick ‘em.”
Big wager on a prop bet too
There was also another big bet, one that wasn’t as anticipated as a large wager on either team. It came on one of the many prop bets MGM is offering.
A bettor came in and put $28,000 to win $20,000 on the under for 2.5 players attempting a pass in the game. The under for that prop bet is the favorite, so the bettor had to lay minus-140 odds. It was the first five-figure bet MGM has taken on a prop bet for Super Bowl LIV.
“Flea flicker or a blowout, he’s in a little bit of trouble,” Stoneback said.
It’s just Wednesday of Super Bowl week, so there’s plenty more action to come.
“We’ll have a few people come in Thursday and obviously Friday and Saturday,” Stoneback said. “It will heat up.”
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