How The Sports Betting Market Reacted To Tom Brady's Retirement: Super Bowl LVII Updated Odds

Legendary NFL quarterback Tom Brady announced his retirement Tuesday after conflicting reports from several media outlets over the weekend.

The loss of Brady could greatly impact the next NFL season, particularly the Tampa Bay Buccaneers, who will look for a new quarterback to lead the team.

Here’s how sports betting operators are predicting the Tampa Bay Buccaneers' odds to win Super Bowl LVII for the 2022-2023 season.

What Happened: With conflicting reports of Tom Brady’s retirement, most sports betting operators had priced in a 50/50 chance the quarterback wouldn’t be back for the 2022-2023 season.

Brady saying he had not made up his mind and the ESPN story being refuted led many to believe the quarterback would come back. Odds that Brady would retire stood at +145 on Saturday when news first circulated, according to Covers.

With the matchup for Super Bowl LVI set, sportsbooks wanted to get odds out for Super Bowl LVII. Sports betting operators wanted to make sure they didn’t price the Buccaneers' odds too high in case Brady decided to come back for at least one season. With Brady at the helm, the Buccaneers would likely be a top-three candidate for the Super Bowl LVII odds. The seven-time Super Bowl winner played 20 years for the New England Patriots and two seasons for Tampa Bay.

Related Link: 5 Things You May Not Know About Tom Brady

With retirement a possibility, the operators tried to place the Buccaneers somewhere in the top 10 to still take bets but not be left with too big of a liability against Brady.

The initial Super Bowl LVII odds from Caesars Entertainment Inc CZR were:

• Kansas City Chiefs: +650
• Buffalo Bills: +700
• Los Angeles Rams: +1000
• Cincinnati Bengals: +1200
• Tampa Bay Buccaneers: +1400
• San Francisco 49ers: +1400
• Green Bay Packers: +1500

On Tuesday the odds from the Caesars Sportsbook remain the same despite Brady’s retirement.

At DraftKings Inc DKNG, the Buccaneers currently have the fourth-best odds for Super Bowl LVII at +1200 with the Chiefs, Bills and Rams the top three at odds of +650, +750 and +1100, respectively. The Bengals trail the Buccaneers at odds of +1300.

PointsBet has the Buccaneers ranked fourth at odds of +1400 with the Chiefs, Bills, and Rams topping the list at +600, +750 and +1100, respectively. The 49ers are tied with the Buccaneers at +1400 and the Bengals are followed closely behind at +1500.

Perhaps the biggest move in the Brady retirement and Super Bowl LVII odds comes from the Barstool Sportsbook app from Penn National Gaming PENN. The Buccaneers are ranked 13th with odds of +2500 to win Super Bowl LVII. The Bills and Chiefs are tied for the best odds at +800.

FanDuel and BetMGM, a joint venture from Entain and MGM Resorts International MGM, do not have odds listed for Super Bowl LVII on their apps at time of writing.

Why It’s Important: The 2022-2023 NFL offseason could see many changes for Super Bowl LVII odds as signing a free agent, trading for a quarterback or drafting a quarterback could impact the odds of success for the Buccaneers.

Last offseason, sports betting operators had to change odds for the Green Bay Packers with reports that quarterback Aaron Rodgers would not join the team for the 2021-2022 season.

Speaking of Rodgers, the Packers quarterback’s name has been thrown out as a possible replacement in Tampa Bay to replace Brady. Adding Rodgers could boost the Buccaneers Super Bowl LVII odds up the board.

The Rams rank third at many sportsbooks for the next Super Bowl. The performance of the team in Super Bowl LVI could impact if the team is moved up or down for the following season. The Bengals also could see movement as they rank in different positions at various sportsbooks.

Photo: Mayaluk, via Wikimedia Commons