Lamar Jackson Re-Signs With Baltimore; Ravens Still 25-1 In Super Bowl Odds

• The Super Bowl odds of the Baltimore Ravens remain relatively unchanged since the club resigned quarterback Lamar Jackson on Thursday
• The average Super Bowl betting line on the Ravens across the leading sportsbooks was +2300 on March 21
• Today, the Ravens Super Bowl odds have only shortened to +2250

The soap opera between the Baltimore Ravens and quarterback Lamar Jackson reached a positive outcome for both parties on Thursday. The Ravens kept their All-Pro QB and he got paid. Agreeing to a five-year extension worth $260 million, Jackson is now the highest-paid player in history of the NFL.

Is it a happy ending, though? Depends upon who you opt to consult on that matter. In the betting world, a happy, wealthy Jackson simply isn’t worth the action when it comes to wagering on the Super Bowl.

Oddsmakers are taking a Shania Twain approach when it comes to Baltimore’s Super Bowl chances going forward with Jackson under center. It don’t impress them much.

2023-24 NFL Super Bowl Odds

Across the leading online sportsbooks, the Ravens were sitting at an average betting line of +2300 in the Super Bowl odds about a month ago. Today, with their star QB locked in long term, those averages have only shortened to +2250. Odds as of April 28 at DraftKings Sportsbook.

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Ravens Barely a Top-10 Super Bowl Contender

Baltimore’s Super Bowl betting lines do vary somewhat across the top online sports betting sites. Both DraftKings and Caesars are showing the Ravens tied for eighth in the Super Bowl odds at +2500.

Among the teams rated with a better chance than Baltimore are six AFC squads, including Baltimore’s AFC North rivals the Cincinnati Bengals. They’re sitting at +1000.

We’ve agreed in principle on a 5-year contract extension with QB @Lj_era8‼️

😈😈😈😈 pic.twitter.com/tQj1Rzqcha

— Baltimore Ravens (@Ravens) April 27, 2023

There’s a bit better news for Baltimore at FanDuel and BetMGM. Each of those books are showing the Ravens with a Super Bowl betting line of +1800. Still, even with the shorter odds, Baltimore remains the eighth overall choice among Super Bowl favorites.

Not Much Love for Baltimore

No matter how you slice it, locking up Jackson isn’t giving those in the betting industry any sense of restored faith in the Ravens going forward. Baltimore’s Conference Championship odds are also long. The Ravens are tied for fifth among AFC clubs with a betting line of +1300.

In the NFL Divisional odds, Baltimore is the second betting choice to win the AFC North title at +250. The Bengals are the +130 chalk. Not far behind the Ravens are the Cleveland Browns at +330.

Oddsmakers do view the Ravens as a legit NFL playoff team. Baltimore is set at -160 to qualify for postseason play. The Ravens are among eight AFC clubs set as odds-on picks to be participants in the NFL Playoff odds.

Baltimore’s regular-season win total is set at nine. The over is the -125 favorite. You can play the under at odds of +105.

Jackson for MVP Also Given Long Odds

Jackson won the 2019 NFL MVP when he led the NFL in touchdown passes and shattered Michael Vick’s single-season record for rushing yards by a QB. However, the the NFL MVP odds for the upcoming season, like Baltimore’s Super Bowl chances, Jackson barely cracks the top 10.

He’s currently sitting eighth with a betting line of +2000. All seven players ahead of him are quarterbacks. Of particular intrigue is that six of them play QB for AFC teams, led by MVP favorite Patrick Mahomes (+650) of the Kansas City Chiefs.

My Agent🤭💯 https://t.co/7QDiSWXpmX

— Lamar Jackson (@Lj_era8) April 28, 2023

Even 39-year-old Aaron Rodgers (+1800) rates shorter odds than Jackson. In fact, the New York Jets got a much bigger bounce in the Super Bowl odds by trading for Rodgers then the Ravens did by extending Jackson.

Jackson’s Inaction a Factor

Jackson is guaranteed $185 million of his contract by the Ravens and that’s a bold move considering his history of injury.  He’s missed five games in each of the past two seasons and his rambling style certainly puts him more frequently in positions of peril.

Jackson’s numbers are also diminishing. He threw for 36 TDs while winning the MVP in 2019. He’s combined for 33 TDs over the last two seasons, all while being picked off 20 times. His QBR was 83.0 in 2019. It hasn’t reached 60.0 through either of the past two campaigns.

That being said, the Ravens are 45-16 when Jackson is their starting QB. There may have been negligible movement of the needle on Baltimore’s Super Bowl betting by keeping Jackson. However, had they let him go, those odds would’ve skyrocketed.