Newton confirmed Sunday night he agreed to a one-year contract with the Patriots. The 2015 NFL MVP spent nine seasons with the Carolina Panthers before he was released in March.
He went unsigned over the initial free agency period and through the 2020 NFL Draft before he was picked up by the six-time Super Bowl champions.
The Patriots appeared headed into the 2020 season with Jarrett Stidham as their starter after future Hall of Famer Tom Brady left the franchise as a free agent and signed with the Tampa Bay Buccaneers this off-season.
New England won 12 games last season and was AFC East champion for an 11th consecutive year. BetOline.AG had the Patriots as +2800 favorites to win the next Super Bowl before the Newton signing.
The Patriots now are +2500 favorites. That means a bettor would make $2,500 on a $100 wager on the Patriots to win the Super Bowl ($2,600 payout).
The Patriots' odds to win the AFC Championship were unchanged at +1200, or a $1,200 profit on a $100 bet.
Newton's MVP odds were at +10000, but jumped to +4000 after the agreement. The Patriots are now tied with the Buffalo Bills for the best odds to win the AFC East at +130.
Caesars moved the Patriots from +2500 to +2000 favorites to win the Super Bowl after the Newton addition. Caesars also increased the Patriots' conference title odds from +1000 to +900.
Newton's over/under mark for expected games started is at 8.5 at BetOnline.AG and SportsBetting.AG.
The former Panthers quarterback completed 67.9 percent of his throws for 3,395 yards, 24 touchdowns and 13 interceptions in his last full season in 2018. Newton -- one of the best dual-threat quarterbacks in NFL history -- also had 488 rushing yards and four rushing touchdowns in his 14 starts in 2018. Newton missed 14 games last season due to a foot injury.
Newton has appeared healthy this off-season as he often posts photos and videos of his workouts on social media. Sources told ESPN Newton was declared healthy from foot and shoulder injuries after he passed a physical in March.
"I'm excited as I don't know what right now," Newton wrote Sunday on social media. "All praise to God. Dropping content [Monday]. I hope you're ready. Let's go Pats!"
The Patriots picked Stidham in the fourth round of the 2019 NFL Draft. The Auburn product completed two of four pass attempts and threw an interception in three appearances last season.
The Patriots also have veteran quarterback Brian Hoyer and undrafted free agent rookies Brian Lewerke and J'Mar Smith on their depth chart.
SportsBetting.AG also has Newton as a -125 favorite to be the Patriots' Week 1 starter, with Stidham at +110 and Hoyer at +1000.
Brady, 42, completed 60.8 percent of his throws for 4,057 yards, 24 touchdowns and eight interceptions in 16 starts last season for the Patriots.
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The Patriots are scheduled to start their preseason against the Detroit Lions at 7:30 p.m. EDT Aug. 13 at Gillette Stadium in Foxborough, Mass. They are to battle Newton's former team, the Panthers, in the second week of the preseason.
The Patriots have a regular-season matchup scheduled against the Panthers in 2021.