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Super Bowl 2024 odds: Why Patrick Mahomes' Kansas City Chiefs are favourites in Las Vegas

The Kansas City Chiefs won their second Super Bowl in the past four years last night with a 38-35 victory over the Philadelphia Eagles.

Patrick Mahomes and the Kansas City Chiefs beat the Philadelphia Eagles 38-35 for their second #SuperBowl win in four years.

Mahomes — hobbling on a hurt ankle — led the Chiefs downfield for the game-winning drive that was capped by a 27-yard field goal. apne.ws/Cl2PhL3 https://t.co/SacmZUFKJh

While they weren't the favorites to win last night's big game, they will enter 2023-24 as the favorites to win the Super Bowl.

A first look at the 2024 Super Bowl odds @FDSportsbook 👀 https://t.co/1NAhaHQ8yo

According to Action Network (partnered with Fanduel), the Chiefs are the favorites to win next year's Super Bowl at +600. The Buffalo Bills come in second at +850, and there's a three-way tie for third-place at +900 between the Philadelphia Eagles, Cincinnati Bengals and San Francisco 49ers.

The odds were posted shortly after last night's Super Bowl victory and are subject to change throughout the season and once free agency begins.

The Houston Texans, Arizona Cardinals and Indianapolis Colts are all tied for the lowest odds at +28000.

It's fitting that the Chiefs will enter the season as Super Bow favorites. Kansas City has been one of the best teams in the past four seasons. They have appeared in five straight AFC Championship games and have been in three out of the past four Super Bowls with two victories.

Kansas City has appeared in five straight AFC championship games and three of the past four Super Bowls. And the Chiefs say they are not done. wapo.st/3YvhZAC

The team will have many free agents whom they may lose, but will have all of their best players such as Patrick Mahomes, Travis Kelce, Chris Jones, Frank Clark, L'Jarius Sneed, Isiah Pacheco, and many others back next season.

Kansas City Chiefs free agents in the 2023 offseason

Kansas City Chiefs v Arizona Cardinals
Kansas City Chiefs v Arizona Cardinals

The Chiefs currently have $7 million in cap space heading into the 2023 offseason.

The Chiefs' free-agent class of 2023 will feature left tackle Orlando Brown, wide receiver JuJu Smith-Schuster, right tackle Andrew Wylie, safety Juan Thornhill, running back Jerick McKinnon, wide receiver Mecole Hardman, wide receiver Justin Watson and defensive end Carlos Dunlap.

The team is expected to franchise tag Orlando Brown, which will be the second-straight offseason the team uses the tag on the star offensive lineman.

The Kansas City Chiefs can re-negotiate with current contracts to save space for this offseason, or could cut some players to clear up space. Like any Super Bowl winning team, the Chiefs will lose some free agents this offseason but will have many key players returning next season.

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