The Indianapolis Colts had an abysmal 2022 season, posting a 4-12-1 record and finishing 3rd in the AFC South. The team is pinning its hopes on QB Anthony Richardson, the 4th overall pick in the 2023 NFL Draft, as the savior and new face of the franchise.
The Colts also added a few young skill position players in the draft with WR Josh Downs (79th overall), TE Will Mallory (162nd overall) and RB Evan Hull (176th overall). Overall, Indy added 12 total players in the draft, looking to infuse the roster with young and exuberance.
However, it could be another tough season for the Colts, as they lost WR Parris Campbell and LB Bobby Okereke via free agency, both to the New York Giants, while CB Brandon Facyson bolted for the Las Vegas Raiders as an unrestricted free agent.
The team officially released QB Matt Ryan, too, replacing him with Gardner Minshew, who will either serve as a bridge until Richardson is ready, or as a mentor. CB Stephon Gilmore was traded to the Dallas Cowboys, too, losing more veteran experience.
Below, we look at the Indianapolis Colts’ 2023 NFL Super Bowl odds from FanDuel Sportsbook along with projected win total, playoff, conference and division odds as we make our best NFL picks and predictions.
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2023 Indianapolis Colts schedule
| WK | DATE | OPPONENT | TIME |
| All times ET; *–At Frankfurt, Germany | |||
| 1 | Sept. 10 | vs. Jaguars | 1 p.m. |
| 2 | Sept. 17 | at Texans | 1 p.m. |
| 3 | Sept. 24 | at Ravens | 1 p.m. |
| 4 | Oct. 1 | vs. Rams | 1 p.m. |
| 5 | Oct. 8 | vs. Titans | 1 p.m. |
| 6 | Oct. 15 | at Jaguars | 1 p.m. |
| 7 | Oct. 22 | vs. Browns | 1 p.m. |
| 8 | Oct. 29 | vs. Saints | 1 p.m. |
| 9 | Nov. 5 | at Panthers | 1 p.m. |
| 10 | Nov. 12 | at Patriots-* | 9:30 a.m. |
| 11 | BYE WEEK | ||
| 12 | Nov. 26 | vs. Buccaneers | 1 p.m. |
| 13 | Dec. 3 | at Titans | 1 p.m. |
| 14 | Dec. 10 | at Bengals | 1 p.m. |
| 15 | Dec. 16 or 17 | vs. Steelers | TBD |
| 16 | Dec. 24 | at Falcons | 1 p.m. |
| 17 | Dec. 31 | vs. Raiders | 1 p.m. |
| 18 | Jan. 6 or 7 | vs. Texans | TBD |
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Colts over/under win total
Odds provided by FanDuel Sportsbook – last updated May 14 at 10:15 p.m. ET; access USA TODAY Sports Scores and Sports Betting Odds hub for a full list.
- 6.5 wins: (Over: -118 | Under: -104)
The Colts will hit the ground running, facing a pair of divisional opponents to open the regular season. Normally a game against the Jacksonville Jaguars would be looked upon as favorable, but it was a playoff team last season, and will not be a pushover in 2023. We could see the No. 2 overall pick, QB C.J. Stroud, face the No. 4 overall pick Richardson, square off in Houston in Week 2, and that is an intriguing matchup.
Indy has 5 home games in the 1st 8 weekends, but they face the aforementioned Jaguars twice, and a trip to Baltimore in the span. That isn’t terribly favorable for success, as the team breaks in a lot of new faces. Back-to-back trips against No. 1 overall pick, QB Bryce Young, and the Carolina Panthers, before a trip to Germany to face the New England Patriots, does the Colts no favors, either.
The later portion of the schedule will also be challenging, with short, but difficult trips to Tennessee, Cincinnati and Atlanta. It’s hard to see this team avoiding double-digit losses again in 2023, so play UNDER 6.5 WINS (-104).
Colts Super Bowl odds
- +10000 (bet $100 to win $10,000)
Indianapolis has the 2nd-longest odds in the NFL to win the Super Bowl, and it isn’t worth even a small play. There is no way this team sniffs the postseason chase, as there are so many strong teams in the AFC, and Indy isn’t one of them.
The Kansas City Chiefs (+600) are the chalk to repeat as Super Bowl champs, while the Buffalo Bills (+900) have the 3rd-shortest odds in the NFL. The Cincinnati Bengals (+1000), the team’s Week 14 opponent at Paycor Stadium, is also one of the favorites to win the Lombardi Trophy.
On the flip side, only the Houston Texans (+18000) have longer odds in the AFC (the NFC’s Arizona Cardinals are also at +18000).
At +10000, Indianapolis has an implied probability of winning the Super Bowl of 0.99% or 100/1 fractional odds.
Backing the Colts (+10000) to win the Super Bowl is not a recommended option. This team has a much better chance of picking in the top 5 of the 2024 NFL Draft, rather than playing for all the marbles in February.
AVOID.
Will the Colts make the playoffs?
- Yes +350 | No -500
If you’re high on Richardson stepping in and making a huge difference, this isn’t a terrible play for a chance to multiply your initial wager by 3 1/2 times. However, I am not going to take that risk myself.
I feel the ceiling for the Colts is going to be 5 or 6 victories, and that’s obviously not going to get Indy into the postseason.
It isn’t that I dislike Richardson so much, either, although I have looked back, and do not see many SEC championships, playoff appearances or even bowl victories in his past. I am not sure why so many feel he’ll suddenly become a guy who wins immediately in the NFL.
However, I feel the losses of Okereke and Gilmore really hurts this team a lot. The defense wasn’t that great with those 2 leaders, but they gave Indy nice veteran leadership and experience to build around. Now, it looks like a defense which really could struggle.
Odds to win AFC South Division
- Jaguars -160 (bet $160 to win $100)
- Titans +360 (bet $100 to win $360)
- Colts +550 (bet $100 to win $550)
- Texans +800 (bet $100 to win $800)
Indy’s implied probability of winning the AFC South is 15.38% or 11/2 fractional odds. I have a hard time envisioning a scenario where the Colts leapfrog both the Jaguars and Titans.
In fact, I am not entirely sold on the Colts being much better than the Texans, who have made some nice moves in the offseason.
It’s tempting to take a chance on a team for a chance to multiply your initial wager by 5 1/2 times, but this is not a team capable of winning their division. It’s going to be another long season in Indiana’s capital city.
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Colts odds to win AFC
- +6500 (bet $100 to win $6,500)
You obviously have to make the playoffs to have a chance to represent the conference in the Super Bowl, and I am just not seeing the Colts coming close to sniffing the playoffs. In fact, it’s going to be a struggle for Indianapolis to avoid the basement in the AFC South.
Super Bowl 57 will be in Las Vegas this season, but the Colts aren’t going to be a part of the festivities. AVOID.
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