In a shocking trade on Thursday afternoon, the Dallas Cowboys dealt Micah Parsons to the Green Bay Packers for defensive tackle Kenny Clark and two first-round picks. Parsons also signed a 4-year, $188 million extension with Green Bay, which — at $47 million average annual salary — makes him the highest-paid non-quarterback in NFL history.
It also completely shifted expectations for both the Packers and the Cowboys in the betting world — from Week 1 lines to the NFC North to Super Bowl futures.
At BetMGM sportsbooks, Green Bay moved from 22-1 (10th-best odds) to win Super Bowl 60 to 13-1 (sixth-best). Dallas, on the other hand, moved down from 50-1 odds to 60-1, and is now tied with the Seattle Seahawks. Those represent Dallas' worst preseason Super Bowl odds since 2014, when the Cowboys were 75-1, per Sports Odds History.
"We moved Green Bay from 20-1 to 12-1 [to win the Super Bowl]," Ed Salmons, vice president of risk at the Westgate Las Vegas SuperBook, told Yahoo Sports in a text message. "The Packers need to get a passing game, but long-term they should be better than Detroit."
In Week 1, Green Bay moved from a 1.5-point home favorite against the Detroit Lions to -2.5 and the Cowboys moved from consensus 7-point underdogs at the Philadelphia Eagles to 7.5-point 'dogs — although there are still many 7s out there.
"Think the Packers are definitely in play for the championship," Lamarr Mitchell, director of trading at MGM Resorts, said. "If Jordan Love stays upright and healthy, they should be in the mix to win [the Super Bowl]."
Green Bay's win total remained at 9.5 and Dallas' at 7.5, but there was juice added on the Cowboys under and Packers over at sportsbooks. Green Bay also moved into the position of NFC North favorite at sportsbooks, ahead of the Lions. Green Bay was +170 to win the NFC North at BetMGM, while Detroit moved to +200.
Handicappers certainly weren't impressed with what the trade did for the Dallas defense.
"The Dallas defense is now 32nd," Drew Dinsick, handicapper at NBC Sports Bet, texted Yahoo Sports. "Generally think this [deal] makes sense for both teams, as Cowboys were going nowhere with Parsons and now they accelerate their rebuild, while the Packers materially increase their title chances in the next three years."
The trade helped Green Bay move up to No. 3 overall in Dinsick's overall NFL power ratings, and second in the NFC behind only Philadelphia. Green Bay is now tied with Detroit for the second-best odds to win the NFC (+650 at BetMGM), behind the Eagles (+350).
"The defense in Green Bay should look a lot different, as Edgerrin Cooper is up about 29 pounds and was sneaky good last year when allowed to rush, as well as in coverage," Adam Chernoff, NFL handicapper, told Yahoo Sports. "Parsons allows Rashan Gary, who was a Pro Bowler last year, to not have to be on the edge so much and play more stopping the run, where he is great. Pretty big win for Green Bay here."
The Cowboys already had a win total of just 7.5, their lowest since 2003, so expectations weren't high in the betting market for Dallas. While the deal may help them in the future, it certainly makes it tougher this season.
"I didn't have high expectations for them this season, but always hurts when your franchise trades the best player on the roster," Rob Pizzola, NFL handicapper and CEO of The Hammer Betting Network, told Yahoo Sports. "I can see why they wouldn't meet his demand. He is an elite player, but Cowboys and truly not in 'win now' mode and it does make sense to recoup some valuable assts for him. Huge get for the Packers, though — exactly the type of player they needed."
One BetMGM wagered $10,000 on the Cowboys to win the NFC at 25-1 odds this offseason, well before the Parsons trade. The Cowboys are now 30-1 to win the conference.
We won't have to wait long for a reunion, either, as Parsons' Packers will travel to Dallas to face the Cowboys in Week 4. Green Bay is currently a 2.5-point road favorite at sportsbooks.
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