Super Bowl MVP odds: Peyton Manning is the betting favorite

There is still a fair amount of time before Super Bowl XLVIII kicks off, but the teams and players are set, and that means that Vegas can kick it into high gear to start collecting bets. People aren't just going to be betting on the game itself, however. There are plenty of different scores and prop bets to make, and "Who will be Super Bowl MVP?" should be one of the more popular ones.

Of course, Denver Broncos quarterback Peyton Manning is a considerable favorite to take home the trophy at 6/5 odds, per Bovada.com.

Manning set the NFL single-season records for touchdowns (55) and passing yards (5,477) and is going to the third Super Bowl of his career after his Broncos beat the Patriots, 26-16, in the AFC Championship. He is likely going to be named the regular season MVP after his record-setting season, but will he lead his team to victory over the Seattle Seahawks and be named the best player in the Super Bowl? Manning was the regular season MVP in 2009 and led the Indianapolis Colts to the Super Bowl, but lost 31-17 to Drew Brees and the New Orleans Saints.

Bovada says that Seahawks quarterback Russell Wilson has 7/2 odds to be named the MVP of the game, making him about half as likely as Manning. Wilson is going to the Super Bowl in just his second season, after leading Seattle to a 13-3 record, number one seed, and 23-17 victory over the San Francisco 49ers in the NFC Championship. He threw for 26 touchdowns and nine interceptions, while rushing for over 500 yards. However, he knows that defense has helped key him to victory, and that could also be an issue for Manning's road to Super Bowl MVP honors.

The Seahawks defense allowed just 16 touchdown passes this season, with a league-leading 28 interceptions. Seattle cornerback Richard Sherman has 25/1 odds to win the award.