Every team enters the preseason with hopes of competing for a championship, but only a certain portion of the NFL has a real chance to win the Super Bowl. With the entire league set to play their first exhibition games of the year this weekend, a handful of contenders stand out as the favorites.

The Buffalo Bills have the best odds to win the Super Bowl in Week 1 of the 2022 NFL preseason. Buffalo leads the way with +600 odds at BetMGM.

The Tampa Bay Buccaneers are first in the NFC and second in the NFL with +750 odds to win the championship. Tampa Bay is two seasons removed from winning the Super Bowl.

Bills quarterback Josh Allen is favored to win the NFL MVP award, following an outstanding postseason. Buffalo had the league's top-ranked defense last year. The Bucs were named the NFC favorites when Tom Brady ended his brief retirement. The greatest quarterback of all time was the 2021 NFL passing leader.

The Bills and Bucs are placed in a tier of their own, according to the preseason odds. No other team has better than 10/1 odds to win the Super Bowl.

Alone with the third-best odds are the Kansas City Chiefs. Coming off their fourth straight trip to the AFC Championship Game, the Chiefs have +1000 Super Bowl odds. Kansas City outlasted Buffalo 42-36 in an overtime victory during last season's divisional playoffs. Patrick Mahomes enters the season with the best passer rating in NFL history, though he'll be without star receiver Tyreek Hill for the first time in his career.

The defending Super Bowl champion Los Angeles Rams have the fourth-best Super Bowl odds. Los Angeles has +1100 odds to repeat, something no NFL team has done in the last 18 years.

The Green Bay Packers have +1200 Super Bowl odds after earning the NFC's No. 1 seed last season. Green Bay suffered arguably the biggest offseason loss of any contender, trading Davante Adams to the Las Vegas Raiders for draft picks.

Three of the NFL's top contenders play in the AFC West. The Los Angeles Chargers and Denver Broncos both have +1600 odds. Chargers quarterback Justin Herbert is one of the best young signal callers in league history. The Broncos hope that trading for quarterback Russell Wilson can make them a legitimate threat to win the title.

The San Francisco 49ers have +1600 odds with second-year quarterback Trey Lance at the helm. Lance only started two games in his rookie season. The 49ers have played in two of the last three NFC Championship Games.

The Dallas Cowboys are the final team that has better than 20/1 Super Bowl odds. The Cowboys are given +1800 odds to win their first championship in 27 years.

Josh Allen Stefon Diggs Buffalo Bills
Quarterback Josh Allen #17 and wide receiver Stefon Diggs #14 of the Buffalo Bills talk before the NFL game against the Arizona Cardinals at State Farm Stadium on November 15, 2020 in Glendale, Arizona. Christian Petersen/Getty Images