Entering the NFL draft on Thursday, the Broncos were listed as having the 24th-best odds to win Super Bowl LV at 66-to-1, according to Bovada.
After draft weekend, the oddsmaker gave Denver a little boost on Sunday, lifting them two spots to 45/1 odds.
The Chiefs, previously the favorites at 11/2, fell slightly into a tied with Baltimore, who improved to 13/2.
Cincinnati, Jacksonville and Washington remained in a tie in the basement, but improved from 150/1 to 100/1 odds.
If you enjoy the Denver Sports Omelette, tell a friend it’s easy to sign up here for our daily sports roundup.