The AFC North champion Baltimore Ravens are once again the underdogs, a position they've become comfortable with. In Super Bowl XLVII against the San Francisco 49ers, the Ravens will be the underdogs for the third straight game. The Niners opened as five-point favorites, but the line has since moved down to 3.5 points at most sportsbooks.
Baltimore struggled against the spread in the regular season, going 6-9-1, but have covered in each of their three playoff games. They covered as 7.5 point favorites against the Colts and twice as big underdogs to both the Broncos and Patriots.
San Francisco fared a bit better in the regular season, going 9-7 against the spread. In the playoffs they covered as three-point favorites against the Packers and 3.5-point favorites against the Falcons.
The over/under for the game opened at 49, but has since dropped to between 47 and 47.5 points. Statistically the two offenses match up very well. The Ravens finished the season 10th in scoring offense at 24.9 points per game and the Niners finished 11th at 24.8 points per game.