The New England Patriots are spending money at an unprecedented rate in free agency. It seems like Bill Belichick is on tilt after seeing Tom Brady go win a Super Bowl somewhere else.
The Patriots have picked up seemingly every big free agent off the board during the "tampering period." Free agency officially begins Wednesday. Given the lack of talent on the roster and how Belichick dragged the Pats to 7-9 last season, there should be reason to believe the Patriots would shoot up the list of Super Bowl contenders.
That's not the case in the eyes of oddsmakers.
BetMGM got a chance to look at the Patriots' flurry of moves, and didn't change its Super Bowl odds a bit.
Patriots' Super Bowl odds stay the same
The Patriots opening Super Bowl LVI odds were +3000. As of Tuesday, after all their big moves, they're +3000.
There are a few guesses why. The Patriots's odds were probably lower than most 7-9 teams with their roster issues because they're the Patriots and Belichick is the greatest coach ever. BetMGM wasn't going to let bettors grab a huge number on the Patriots to win it all, especially not with the Patriots sitting on a lot of salary-cap space. They were overvalued, and now they might be priced about right.
The Patriots have added a lot of talent, but betting lines aren't usually moved by good tight ends. Quarterbacks move the line, and there are still plenty of questions about Cam Newton, if he's New England's starter. Elite players move lines, and while the Patriots added some of the best in free agency, it's hard to say any of them are bonafide stars.
BetMGM pointed out that the Patriots at least moved up the rankings, in terms of Super Bowl odds compared to the rest of the NFL.
That's because other teams moved down. The Patriots haven't moved, in terms of their number.
Patriots have signed many free agents
The Patriots will be probably the most fascinating team in the NFL this season. New England has spent some money in free agency in the past, but nothing like this.
Among the acquisitions, they got offensive tackle Trent Brown in a trade and re-signed Newton. They signed tight ends Jonnu Smith and Hunter Henry. They added receivers Nelson Agholor and Kendrick Bourne. Safety Jalen Mills and nose tackle Davon Godchaux will help the defense. It's quite a haul.
It just hasn't moved the Super Bowl odds at BetMGM, to this point anyway. Maybe that leads to some value for bettors.
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