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Very basic reason: it's the only game of the year in which the majority of the money is bet by occasional or novice bettors.
The oddsmakers understand that and take it into account. That type of bettor literally bets the over more than 80% of the time, when they mess with the total. They want to root for points and not the clock.
Over/under wagering is like that in general. The professional bettors overwhelmingly prefer the under while casual fans take the over. When I worked as a supervisor I would generally shade the opening number somewhat low to thwart the wise guy bettors who could do better elsewhere, then allow the public to take the over with a steady flow of $20 bets. By gametime the sportsbook invariably needed the under, which is exactly where I wanted it.
The other annual trend in Super Bowl betting is the money line, or odds to win straight up, is set absurdly low. The bettors who prefer the underdog want them to win outright and they'll bet it that way, regardless of value. That leads to bizarre money lines, sometimes half what it would be in the regular season. Again, the oddsmakers learned this a long time ago so they set the Super Bowl money line unusually low. This year the Colts are -250 and the Bears +210. In the regular season it would be more like -340 and +280 for a 7 point favorite. Bears bettors are getting ripped off by the +210 but that won't stop them from taking it, or taking +180 or less close to gametime. I see that every year.
I agree the 49 is too high but strange things happen in the Super Bowl, especially the second half.
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