Chiefs' Super Bowl 61 odds are surprising following the first wave of free agency

For the first time since the 2014 season, the Kansas City Chiefs failed to make the postseason, getting officially eliminated from playoff contention in a Week 15 defeat to the Los Angeles Chargers, which just happened to be the same day Patrick Mahomes suffered both a torn ACL and LCL in his left knee. And in losing the three games that followed to close out the year, thus finishing at 6-11, Kansas City took double-digit losses for the first time since 2012. So, it was certainly a season to forget.

Andy Reid & Co. will obviously be looking to bounce back in 2026, but that could prove difficult, as the Chiefs have said goodbye to a plethora of key contributors during this first wave of free agency. Actually, those goodbyes began before the legal tampering period began this past Monday, as Kansas City traded two-time All-Pro cornerback Trent McDuffie earlier in the month to the Los Angeles Rams. And the secondary dominoes continued to fall once free agency started, as Jaylen Watson joined McDuffie in Los Angeles, while Bryan Cook signed with the Cincinnati Bengals.

But it wasn't all bad news for the Chiefs this past week, as they made a big splash by signing Super Bowl MVP Kenneth Walker III, also reloading the secondary a bit with safety Alohi Gilman and adding some help on the defensive line with Khyiris Tonga. And let's certainly not forget that superstar tight end Travis Kelce will be back for at least one more season, as will wideout Tyquan Thornton.

Now, from an overall standpoint, even with those signings, the Chiefs have still lost far more than they've gained thus far. As such, one might assume that their odds to win next year's Super Bowl have taken a hit. But that's actually not the case.

Chiefs now rank among the top five favorites in the latest Super Bowl 61 betting odds

The day after the Seattle Seahawks' lopsided win over the New England Patriots in Super Bowl 60, the way-too-early odds to win Super Bowl 61 still had the Chiefs, despite their struggles this past year and with no guarantee that Mahomes will be ready for Week 1, sitting in a tie for ninth alongside the Los Angeles Chargers at +1500 to hoist the Lombardi Trophy and in a tie for fourth with the Bolts at +750 to represent the conference in the Big Game next Valentine's Day.

And now, despite not having the strongest first wave of free agency, Kansas City has those exact same +1500 odds to win Super Bowl 61 and the exact same +750 odds to win the AFC. Only now, the Chiefs are tied for fifth overall with the Green Bay Packers and sit in solo third among AFC teams to win the conference, trailing only the Baltimore Ravens (+450) and the Buffalo Bills (+475).

While we didn't include the divisional odds in the table above, the Chiefs are also the favorites to win the AFC West at +160, with the Chargers right behind in a close second at +185. The defending division champion Denver Broncos, who haven't done much of anything in free agency, sit in third at +230, while the Las Vegas Raiders, who've basically been the busiest team in the league, still aren't seen as a viable contender, as they bring up the rear at +2000.

All betting odds courtesy of DraftKings. Game odds refresh periodically and are subject to change. The content in this article should not be considered betting advice. Gambling involves risk, and one should only gamble with funds that one can comfortably afford to lose. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.