Just from an early perspective on who the public is on...it seems it is the Giants. There maybe late money coming in on the Patriots but keep in mind Gronkowski is now questionable and it may hold late bettors back to drop money on the Pats. This plays into Vegas' hands as they remain loaded on Giants money, the potential losing side!
Here is some history that I observed on various games off the top of my head....
Public was on LSU in the BCS Championship.....lost
Public was on Oregon in last year's BCS Championship....lost
Public jumped on Steelers to beat the Broncos in the wildcard.....lost
Public then jumped back ON the Broncos to cover against the Patriots....lost
Public was on the Patriots in the 2008 Super Bowl......LOST
Public is back on the Giants bandwagon with their surge in the playoffs in 2012 looking for deja Vu aginst the Patriots....???? Draw your own conclusion
I could go on and on but it would take literally a lifetime of public plays that failed to list! Believe I can feel the public sentiment on the Giants this year.
Nothing is foolproof....only a fool would think that!
Original Post:
Here is how I personally measure how much the public is on a team-- I ask everyone I know at work and various friend and family members who they like. Most have said Giants and they believe the Giants will win, so I conclude that the dog in the Super Bowl is a public play and do you really want to back the public team in the Super Bowl?? I am not saying that the public can't win but I feel safer going against it.