It's an understatement to say the betting markets have been drastically affected.
The Colts' win total dropped from 9.5 to 6.5 at FanDuel, while their title odds went from 12-1 to 50-1 at PointsBet, and from 12-1 to 30-1 at the Westgate Las Vegas SuperBook. CG Technology, which shifted the Colts' title odds from 12-1 to 40-1, moved them from 7-1 to 20-1 to win the AFC South.
The 29-year-old Stanford product was coming off a huge bounce-back season after posting 4,593 passing yards with 39 touchdowns and 15 interceptions in 2018. He led the Colts to a 10-6 finish and a postseason berth. The team's playoff run concluded with a divisional-round loss to the Chiefs.
Luck was tied with Packers quarterback Aaron Rodgers for the second-shortest MVP odds at 8-1, behind Patrick Mahomes. He was also given the third-best odds to lead the league in passing yards at 6-1, trailing only Mahomes and Matt Ryan, both at 9-2.
Initially a three-point underdog against the Chargers in Week 1, the Colts were immediately moved to +7 in some shops for the opener. CG Technology then posted the Colts as 9.5-point underdogs, tying them with the Bengals as the largest Week 1 dogs.
Last season, CG Technology made Luck worth between four and five points to the betting spread, so the 6.5-point move could reflect the public's knee-jerk reaction.
Alex Kolodziej is a betting writer for theScore. He's a graduate of Eastern Illinois who has been involved in the sports betting industry for 12 years. He can quote every line from "Rounders" and appreciates franchises that regularly wear alternate jerseys. Find him on Twitter @AlexKoIodziej.