LAS VEGAS -- The Baltimore Ravens have signed quarterback Lamar Jackson to a historic five-year, $260 million contract extension, with $185 million in total guarantees, per reports. The deal would make Jackson the highest-paid player in NFL history. The blockbuster deal comes after months of challenging negotiations and has had a significant impact on the betting odds for the Ravens and the AFC North.

AFC North odds have shifted following the announcement, with the Ravens moving from +310 to +280. The Cincinnati Bengals, still the favorites, have been downgraded slightly from +115 to +120. Despite the new contract, the Ravens' Super Bowl odds also improved slightly to 25/1, jumping them ahead of the Jacksonville Jaguars as the 11th favorite to win next year's title.

With Jackson's future in Baltimore now secure, the star quarterback's presence will be a key factor for bettors considering the team's performance when placing wagers. Jackson's extension is expected to bolster the Ravens' odds for the upcoming season and beyond, as he aims to fulfill his draft day promise of bringing a Super Bowl to the franchise.

Following the announcement of Jackson's contract extension, his MVP odds at DraftKings improved from 16/1 to 15/1, jumping him ahead of Tua Tagovailoa and Trevor Lawrence. This places Jackson as the 6th MVP favorite, behind only Patrick Mahomes (+650), Joe Burrow (7/1), Josh Allen +750, Justin Herbert (10/1), and Jalen Hurts (11/1).