Not long ago, the Cincinnati Bengals were viewed as a rising AFC powerhouse.

A Super Bowl appearance in the 2021-22 season followed by another trip to the AFC Championship game had many believing Joe Burrow and Zac Taylor were building something sustainable. Fast forward three seasons, and that optimism has cooled considerably.

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Cincinnati has missed the playoffs three straight years, posting records of 9-8, 9-8 and 6-11. Now, as the 2026 NFL offseason unfolds, sportsbooks are signaling a shift in expectations.

DraftKings lists the Bengals at +2800 to win Super Bowl 61 — tied for the 16th-best odds in the league. That number translates to an implied probability of just 3.45%, placing Cincinnati firmly in the middle tier of contenders rather than among the AFC elite.

The skepticism isn’t hard to understand.

Joe Burrow remains one of the most talented quarterbacks in football when healthy, but durability has become a growing concern. Injuries have limited his availability at key moments, and without him at full strength, the offense hasn’t been able to carry the team. Meanwhile, the defense has struggled to consistently improve, often putting added pressure on Burrow to win shootouts.

Ownership’s decision to retain Zac Taylor suggests the franchise believes continuity is the right path forward. Still, three consecutive postseason absences after back-to-back deep playoff runs raise legitimate questions about whether this core can rediscover its edge.

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The Bengals could shift the narrative with a strong draft class and smart free-agent additions, particularly on defense. But until tangible improvements show up on the field, the betting market appears unconvinced.

For a franchise that once looked poised to dominate the AFC, 2026 feels like a pivotal year — one that may define the next chapter of the Burrow era.