Reviewing the Latest Super Bowl Odds, Post-Minicamp Edition

While Vegas' Super Bowl odds have literally no effect on what happens on the field, they are a useful tool to get a idea of how the public perceives each NFL team's chances coming into next year.

These odds are based on the values from betvega.com, which was most recently updated on June 1. Therefore, outside of a few transactions, these picks are based on the most recent roster moves.

Here is a breakdown of the latest Super Bowl odds, in descending order.

Green Bay Packers

Odds: 13/2

According to Vegas, the 15-1 Packers are the current favorites to win the Super Bowl.

With Aaron Rodgers at the helm, the Packers will always be in contention, but they must improve on the defensive side of the ball in order to avoid another one-and-done in the playoffs. Losing their left tackle and center from a year ago does not exactly help matters either.

While the Packers should definitely be in the top three in terms of Super Bowl odds, they have too many flaws to be considered the No. 1 team heading into 2012.

New England Patriots

Odds: 8/1

If it was up to me, I would move the Patriots into the top spot.

Not only did they invest a lot of resources into the defense, but they also finally have their deep threat in Brandon Lloyd that will make their offense virtually unstoppable.

The Patriots still need to prove that they can make all of their new additions work, but on paper, I have a tough time finding a harder team to defend than the Patriots at this point.

San Francisco 49ers

Odds: 10/1

After a strong 2011 season, there are certainly a lot of reasons to like the 49ers coming into 2012. They made a ton of upgrades at the skill positions and are returning all 11 defensive starters from last year.

However, it is important to consider that the 49ers had a lot of bounces go their way last year. They led the league in turnover ratio, which is nearly impossible to do year after year. One would figure that they will not get as many extra possessions as they did in 2011.

That said, they are still favorites to win the NFC West and could certainly make a repeat appearance in the NFC championship game.

Denver Broncos

Odds: 12/1

These odds have obviously skyrocketed since the Broncos landed Peyton Manning.

However, I would be wary of putting a lot of money on the Broncos to go all the way this year. Manning's offenses require a lot of timing and precision, and it may be some time before Peyton and his receivers are all on the same page.

12/1 seems a smidge high, but Manning will always put any team in contention to win it all.

Houston Texans

Odds: 12/1

For a team that won a playoff game with its third-string quarterback, one would think that it would get a bit more respect since its starting quarterback will be back and healthy for the 2012 season.

However, the offseason was not kind to the Texans, as they lost key players like Eric Winston and Mario Williams.

If the Texans are healthy, they have to be among the favorites to represent the AFC in the Super Bowl, but health has been elusive for the Texans in recent years.

As a result, these are fair odds, as long as they can avoid the injury bug.

Philadelphia Eagles

Odds: 14/1

Despite the Eagles' disappointing 2011 season, it is hard to not consider them among the top teams in the NFC.

They fixed their issues at linebacker by trading for DeMeco Ryans and drafting Mychal Kendricks. Now that Asante Samuel is in Atlanta, Dominique Rodgers-Cromartie can move into his more natural position as an outside corner.

Also, the addition of Fletcher Cox in the first round could give the Eagles the best third-down pass rush in the NFL.

I may be higher on the Eagles than most, but 14/1 still seems a bit low for such a talented team.

Baltimore Ravens

Odds: 16/1

Before the start of the offseason, these odds would certainly seem low. 

However, now that the Ravens are without a multitude of key starters from last year, including Terrell Suggs, Jarret Johnson and Ben Grubbs, it is difficult to consider the Ravens legitimate Super Bowl contenders again.

They still have enough talent to make a run at the division, but they will only go as far as Joe Flacco takes them. Without making significant upgrades on the offensive side of the ball to counter their losses on defense, the Ravens could take a step back this year.

Chicago Bears

Odds: 18/1

Depending on how the situation with Matt Forte plays out, these odds could take a significant swing in either direction.

Either way, the Bears are a Super Bowl-caliber team that would have easily have made the playoffs last year if Jay Cutler was not injured trying to make a tackle. With a brand-new crop of big, physical receivers in Brandon Marshall and Alshon Jeffery, Cutler is poised to have a bounce-back season.

Playing in a tough division does not help their odds, but they have the defense and quarterback to get it done on both sides of the ball.

New Orleans Saints

Odds: 18/1

These odds seem criminally low. Yes, the Saints have had their share of offseason distractions, and Drew Brees is not yet under contract, but does anyone really think the Saints are willing to enter the 2012 season without Brees under center?

Assuming Brees comes back, the Saints are loaded. Curtis Lofton is actually an upgrade over Jonathan Vilma at middle linebacker, and they made a huge improvement in the middle of their defense by signing Brodrick Bunkley.

Will Bountygate play a role in terms of being a distraction? Maybe. Still, what happens between the lines is what counts, and the Saints have all the talent in the world to make another run.

New York Giants

Odds: 18/1

Remember, these are Vegas odds, not power rankings. The fact that the Giants won it all last year actually hurts their odds this year, simply because of how difficult it is to repeat in the NFL.

Still, before the playoffs, the Giants were hardly a dominant team in the regular season. The play of Eli Manning was enough to squeak the Giants into the playoffs and make a run.

In order to repeat, the Giants must stay healthy on the defensive side and their offensive line must make strides, but I would never count them out as long as Manning is under center.

Pittsburgh Steelers

Odds: 18/1

As long as Ben Roethlisberger is playing quarterback and the defense is up to Steeler standards, Pittsburgh is always going to be in contention to make a run at the Super Bowl.

There is still the looming question as to how quickly the Steelers will be able to make a shift in offensive philosophy from a pass-first to a run-first offense, but they have enough talent, particularly at wide receiver, to still be a productive offense.

While they still have a few holes in the secondary and some key defensive pieces are starting to age, these odds are fair, all things considered.

Dallas Cowboys

Odds: 20/1

Despite all of the SportsCenter talk about Tony Romo being the next LeBron James in terms of not living up to expectations, the reality is that the defensive side of the ball let the Cowboys down, particularly late in the season.

The Cowboys addressed their secondary needs head-on and now have a brand-new cornerback tandem in Brandon Carr and Morris Claiborne.

If these additions pan out, I would expect these odds to improve as the season wears on.

Detroit Lions

Odds: 22/1

The Lions are a much more talented team than what these odds would suggest, but as DUI charges become commonplace in the Lions locker room, it is hard to trust this young, immature team to capitalize on its opportunity.

Sometimes, bettors tend to go with the "vibes" that surround a franchise rather than taking a close look at their roster, and the negative aura that has surrounded the Lions this offseason has clearly hurt their Vegas odds.

Atlanta Falcons

Odds: 25/1

The Falcons have established themselves as a playoff contender every year, but I get the sense that they may be peaking.

Players like Tony Gonzalez, Michael Turner and John Abraham are not getting any younger, and issues on the offensive line are starting to show their colors.

Given the increasing competition within their own division, 25/1 odds seem about right, maybe even a bit low for a team with a top-tier quarterback.

New York Jets

Odds: 25/1

It is easy to knock the Jets for being nothing more than a sideshow, but this team was still in the playoff race all the way up until Week 17 and still has a lot of elite talent of both sides of the ball. It would not surprise me if they wound up leading the league in defense. 

Rex Ryan's teams have made surprising playoff runs in the past, but it remains to be seen if the Jets can silence all of the distractions and get Mark Sanchez back on track.

Depending on how the Jets handle the Tim Tebow situation, I can see these odds making a drastic shift in either direction as the season wears on.

San Diego Chargers

Odds: 25/1

There is a common misconception that the Chargers are an incredibly talented team that always fails to live up to expectations.

While that may have been true about four or five years ago, the truth is that the Chargers are not this immensely talented team anymore. Players like Antonio Gates are not the same players, and losing guys like Vincent Jackson does not help their cause.

The truth is, the Chargers need Philip Rivers to play at a near-MVP level for them to compete for championships.

Carolina Panthers

Odds: 35/1

The Panthers are a team that I can see flying up this list. While they still have some issues on defense, they could have a dominant offense if Cam Newton can avoid a sophomore slump.

Still, issues at defensive tackle and in the secondary will hold this team back, even if they do find a way to sneak into the playoffs.

The Panthers are probably a year away from making a real run at a championship, but the foundation is set for the Panthers to build on.

Cincinnati Bengals

Odds: 40/1

These odds seem criminally low for a team that went to the playoffs with a rookie quarterback.

With a full offseason under his belt, Andy Dalton could make a big jump in his second year. A.J. Green will be considered one of the best receivers in the game by year's end.

Plus, the Bengals have a lot of talent on the defensive side of the ball and made some improvements to a secondary that dealt with a lot of injuries a year ago.

With the Ravens losing a lot of key pieces, the door is wide open for the Bengals to win the AFC North in 2012.

Arizona Cardinals

Odds: 50/1

The Cardinals may be improving, but a John Skelton-Kevin Kolb quarterback battle does not exactly scream “Super Bowl bound!” for the Cards.

Not to mention they are in an increasingly tough division and will have a tough time beating out the 49ers for the division title.

Odds of 50/1 may seem a bit low for a team that was .500 last year, but even Cardinals fans would admit that a division title would be a pleasant surprise, never mind a Super Bowl title.

Buffalo Bills

Odds: 50/1

This is another set of odds that seems ridiculously low.

On paper, the Bills are a very complete team. They could have the best defensive line in football and have a deep secondary to back it up. There are some holes on the offensive side of the ball, but Chan Gailey has always specialized in manufacturing offense out of a depleted roster.

The Bills' success will depend on Ryan Fitzpatrick's ability to get back to his early 2011 form. If he does, the Bills will be a legitimate playoff contender and finally make their way out of the AFC East basement.

Kansas City Chiefs

Odds: 50/1

To be honest, the Chiefs are a good enough team to win the Super Bowl, assuming they can avoid the injury bug that ruined their season before it even started last year.

The only thing holding back the Chiefs are the limitations of Matt Cassel. While he is certainly not the worst starter in the NFL, he does not necessarily elevate the play of those around him.

With a wide-open AFC West, the Chiefs could certainly make the playoffs, but how far they go will depend on how far Cassel takes them.

Miami Dolphins

Odds: 50/1

If Matt Moore enters the season as the season as the starter, the Dolphins may win more games than most will think.

However, no matter who plays quarterback for the Dolphins, their chances at contention are slim. They are undergoing a philosophical shift on the defensive side of the ball, and their offensive weapons are lacking, to say the least.

The Dolphins are still a few years away from contending in the tough AFC East.

Seattle Seahawks

Odds: 50/1

Like several other teams, the Seahawks are just a quarterback away from being a true Super Bowl contender.

They made several improvements to an already stout defense and brought in Kellen Winslow Jr. to solve their issues at tight end.

Still, the key for Seattle is for Matt Flynn to avoid becoming the next Kevin Kolb as yet another one-hit wonder that was just a beneficiary of a terrific offensive system.

It would not be a huge surprise if Seattle made the playoffs, but it doesn't have the kind of firepower necessary on offense to compete for championships just yet.

Tennessee Titans

Odds: 50/1

These low odds could be the result of several factors.

For one, there is the possibility that Jake Locker will start this year, which would put their immediate success in jeopardy. Even if Matt Hasselbeck starts, does anyone truly believe that he can win a Super Bowl with this team?

Granted, the Titans are a much better team than their 50/1 odds would indicate, especially if Chris Johnson can return to his former self, but they simply lack the kind of elite talent it takes to win a title.

Washington Redskins

Odds: 50/1

There really is no other way to put it: The Redskins' success, both short-term and long-term, will completely hinge on the play of Robert Griffin III.

Based on early returns, RGIII looks like he is poised to have a Cam Newton-type of rookie season, but he needs to prove it on the field before we crown him Rookie of the Year and believe that the Redskins are finally out of the NFC East basement.

Oakland Raiders

Odds: 65/1

While I have a feeling the Raiders could surprise a lot of people and contend in the wide-open AFC West, it is impossible to consider them realistic contenders for the Super Bowl given their inconsistencies on both sides of the ball.

A brand-new regime would figure to help change the culture in Oakland, but it will take some time. Carson Palmer also has to keep his turnovers down.

For Oakland, this year is more about each player proving that he should be in Reggie McKenzie's long-term plans than competing for championships.

Tampa Bay Buccaneers

Odds: 65/1

Just like the Raiders, Greg Schiano and the Bucs are focused on changing the culture of their franchise.

By drafting players like Mark Barron and Doug Martin, they are clearly focused on playing sound, smart football.

However, trading a talented player like tight end Kellen Winslow Jr. shows that they are less focused on winning this year and more focused on creating an environment for long-term success, which certainly does not bode well for their chances for contending in 2012.

St. Louis Rams

Odds: 75/1

These odds seem a bit low for the Rams despite the fact that they are coming off an immensely disappointing season.

They made some upgrades at the defensive tackle and receiver position in the draft with the selection of Michael Brockers and Brian Quick, respectively.

However, none of it will matter if Sam Bradford does not get back on track. After battling injuries last year, one would assume that his sophomore slump was nothing more than anomaly after a terrific rookie season.

Still, the Rams are a few years away from making a run at a championship, even if Bradford starts to play like a first overall pick.

Minnesota Vikings

Odds: 100/1

The Vikings did lose a lot of close games last year, but they still lack talent at key positions, such as cornerback, middle linebacker and wide receiver, which will hold them back.

Christian Ponder flashed some promise, but for the most part he looked like a rookie. One would assume that he will improve with a full offseason under his belt, but that still remains to be seen.

Throw in the fact that the Vikings are at the bottom of what is maybe the toughest division in football, and it seems impossible for the Vikings to win enough games to even be in the playoff hunt, never mind make a run at a championship.

Indianapolis Colts

Odds: 150/1

There are few teams more difficult to predict this season than the Colts.

If Andrew Luck is as good as he is supposed to be, the Colts could get a few more wins than most anticipate, but they are lacking in too many other areas to contend.

They may have the worst cornerback situation in football, and the offensive line needs a lot of help. For Indy, this year is less about competing for championships and more about developing a new identity within a new regime.

Jacksonville Jaguars

Odds: 150/1

After making significant improvements to their receiving corps, combined with their underrated defense, the Jags are a much better team than most realize.

However, there is no way the Jaguars are going to challenge the Texans for divisional supremacy with Blaine Gabbert at the helm. Even if Gabbert makes improvements in his game, the Jags are still a few years away from becoming real contenders.

Cleveland Browns

Odds: 200/1

Just like the Jags, there is no way the Browns are winning the Super Bowl with their quarterback situation.

Not only is their offense in tatters, but the defense lost a key component in Phil Taylor to injury.

While they may be more competitive than last year with Trent Richardson carrying the offense, there is no way the Brownies are winning it all in 2012.