2011 Super Bowl Odds: Vegas Says The Packers Are 3-Point Favorites, But Does That Hurt Their Chances?

The 2011 Super Bowl is less than a week away, and there’s already been ample time to look at the real intrigue in all of this--the gambling. Point spreads, prop bets, odds, and everything in between.

The Super Bowl is as much a cultural celebration as it is a football game. And it’s as much a cultural celebration, as it is a cultural celebration of gambling. It’s an excuse for the entire country to bet on the same thing at once. Sort of like March Madness. Even people that never gamble will gamble on the Super Bowl. (And for the record, MGM has already accepted a one million dollar bet on the Packers, so if you’re looking to go big, well... The bar has been set high.)

So in the spirit of our nation’s unofficial gambling holiday, we’ll keep you up to date on everything you need to know about Super Bowl 45, as Vegas sees it. First there’s the official point spread:

...And the over/under is set at 44.5. Keep in mind, the last time these two teams got together, it was in 2009, and the game ended 37-36 with almost a 1,000 yards of passing offense alone. Pittsburgh won that day, but a little more than a year later, both teams defenses are in much better shape, so an encore performance of that shootout is unlikely.

Which brings us back to square one. We don’t know what’s going to happen, and really, Vegas doesn’t either. A three point spread is equivalent to the oddsmakers throwing up their hands. Apparently everyone likes Green Bay a little more, but not by much.

But here’s one thing to keep in mind: in the last ten years, Super Bowl underdogs are 8-2 against the spread, and favorites are just 5-5 straight up. In other words, there’s a long history of Vegas getting it wrong in this spot. And at the same time, Pittsburgh’s 3-1 this season as an underdog, so... If anything, the stats point to Pittsburgh as the smart money this Sunday.

But then, the line’s already moved half a point in Green Bay’s favor, so clearly, America disagrees. In any case, we’ll have you covered all week long, keeping you up-to-date with any changes, and also highlighting some of the best prop bets on the board. For instance, how long will Christina Aguilera hold the word “Brave” when she sings the national anthem?

The early over/under is six seconds.

Didn’t we tell you the Super Bowl is basically just a celebration of gambling?