(Photo credit: Kevin Jairaj-Imagn Images)

Betting lines saw significant changes nearly immediately after the Dallas Cowboys traded All-Pro pass-rusher Micah Parsons to the Green Bay Packers on Thursday afternoon.

The Cowboys, already a seven-point underdog to the Philadelphia Eagles in the NFL's kickoff game next Thursday, saw that number rise to 7.5 shortly after the blockbuster trade, via BetMGM and DraftKings.com. Per BetMGM, 80 percent of the money is on the defending Super Bowl-champion Eagles to cover.

It should be noted, the number previously was as low as 6.5 points given the uncertainty of Parsons' availability given his contract dispute.

That reportedly was solved rather quickly as well, with Parsons agreeing to a four-year, $188 million extension that includes $136 million guaranteed, according to multiple reports.

The deal makes Parsons the highest-paid non-quarterback in NFL history. His $47 million annual average easily eclipses the contract extension T.J. Watt signed with the Pittsburgh Steelers, which averages $41 million per year.

FanDuel Sportsbook thinks Parsons will thrive with the Packers, listing him at +500 to win NFL Defensive Player of the Year honors. That's ahead of Detroit's Aidan Hutchinson (+750), Watt (+850), Cleveland's Myles Garrett (+850), San Francisco's Nick Bosa (+1400) and Los Angeles Rams star Jared Verse (+1500).

As for the Packers, BetMGM opened with them as a 1.5-point underdog against the Lions in their season opener on Sept. 7 prior to the addition of Parsons. Green Bay is now a 2.5-point favorite, however the sportsbook notes that 74 percent of the money is on the Lions to cover.

BetMGM listed the Packers' Super Bowl odds going from +2200 to +1300 after the trade, with 25 percent of bets and 11 percent of money being wagered on the Packers to walk away with the Lombardi Trophy. ESPNBet saw Green Bay's odds go from 20-to-1 to 14-to-1 after the trade.

Green Bay's odds to win the NFC went from +1100 to +650 following the trade, including 29 percent of bets to accomplish the feat.

The Packers also went from +260 to an NFC North-best +170 to capture the division title, although 58 percent of bets and 80 percent of money remain on the Lions.

Green Bay's win total rose from 9.5 to 10.5 (under -130) following the trade that saw the Cowboys acquire three-time Pro Bowl defensive tackle Kenny Clark and first-round draft picks in 2026 and 2027.

BetMGM didn't think Dallas benefited from the deal, and it showed in the odds.

The Cowboys' Super Bowl and NFC Championship odds ballooned from +5000 to +6000 and +2000 to +3000, respectively. ESPNBet saw Dallas' odds to win the Super Bowl go from 50-to-1 to 60-to-1.

Dallas' odds to win the NFC East remained at +675, although its win total dropped from 7.5 to 6.5 (over -150).

--Field Level Media