The San Francisco 49ers have been installed as small Super Bowl favorites over the Kansas City Chiefs, but the point spread quickly dropped at sportsbooks around the nation. Starting as 2.5-point favorites at ESPN BET, the line quickly went down to -1.5 within 20 minutes of being posted and was as low as -1 at some sportsbooks Sunday night.

If the line holds, this would make quarterback Patrick Mahomes and the Chiefs underdogs in a third straight game, as Kansas City is 9-3 outright as an underdog in Mahomes’ starts. The Chiefs entered the playoffs at 10-1 to win the Super Bowl, their longest odds of the season. However, Mahomes led another postseason run, pulling upsets over the Buffalo Bills and Baltimore Ravens to get the Chiefs back in the Super Bowl for the fourth time in the past five seasons.

The 49ers, who were the top seed in the NFC, survived back-to-back upset bids by the Green Bay Packers and Detroit Lions. San Francisco fell behind the Lions 24-7 in the first half and rallied behind quarterback Brock Purdy in the second half for a 34-31 win.

Ahead of the conference championship games, Caesars Sportsbook had the 49ers listed as 3-point favorites over the Chiefs in a potential Super Bowl matchup. The 49ers opened at -130 on the money line, and the over/under total was set at 47.5 at ESPN BET. The betting favorite has won 36 of 57 Super Bowls. Underdogs are 28-27-2 against the spread in Super Bowls, with 28 unders, 27 overs, and one push.

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