Super Bowl 58 will mark a rematch between the two combatants from Super Bowl 54, a game where the Kansas City Chiefs took down the San Francisco 49ers 31-20; and Patrick Mahomes and Andy Reid both earned their first Super Bowl ring.

After the Chiefs beat the Ravens and the 49ers hung on to beat the Lions, these teams will meet again to decide this year’s champion.

So which one of those squads will take home the Lombardi Trophy? Let’s break down the current betting odds for the big game.

Current Super Bowl LVIII favorites

As it stands, the 49ers are still the favorites to win SB LVIII, but only by the narrowest of margins.

They currently sit at -130 on the moneyline but the line has been moving in Kansas City’s favor. The Chiefs opened around +130 on the moneyline but now sit at +110.  

The 49ers haven’t made things easy on themselves thus far. They likely should have lost to the Packers and benefited from some lucky breaks (and insanely aggressive game management by Dan Campbell) in their win against Detroit. However, they’re in the finals and will have two weeks to prepare for the Chiefs. Despite the two shaky wins, they remain the favorites in this game.

The Chiefs dominated the Ravens early on and then held on for dear life at the end of the game, relying mainly on their defense to make big plays.

In many ways, this is an entirely different Chiefs team than the one the 49ers lost to in 2019. The Chiefs offense has been their biggest liability in 2023. Gone is Tyreek Hill and the big play machine that propelled them to their first Super Bowl win and in its place is an elite defense who is great at getting pressure and making big plays when the time arises. 

Despite their struggles at times moving the ball this year the Chiefs do have two constants back from that 2019 matchup with San Francisco: Patrick Mahomes and Travis Kelce.

Considering their record in games of this magnitude it would not be shocking to see this line continue to move towards the Chiefs and for the game to reach pick’em status – or potentially even see the Chiefs go off as small favorites – by game time.