Betfair Gives Steelers 69 Percent Chance of Winning Super Bowl

The Superbowl is in 17 hours, but many people think they already know who will win. The odds on betting site Betfair give the the Pittsburgh Steelers a 69 percent chance of winning versus the Arizona Cardinals. Both were seen as long shots at the beginning of the season, when the Steelers were given a 4 percent chance of winning the Super Bowl, and the Cardinals were only given a 1 percent chance. (See chart).

Betting markets like Betfair’s are a form of prediction market, so it looks like it is the Steeler’s game to lose. Then again, what do Brits know about American football? U.S. residents cannot legally bet on Betfair, which is based in London.

For what it is worth, the MVP favorites are: 33% Ben Roethlisberger (PIT), 18% Kurt Warner (ARI), 12% Willie Parker (PIT), 8% Larry Fitzgerald (ARI), 5% Troy Polamalu (PIT).

Update: The Steelers won, but just barely. MVP went to Santonio Holmes, who caught the winning touchdown with 35 seconds left in the game.