It might be time to hit the panic button in Dallas. The 2024 NFL season is just eight weeks into the season and the Cowboys have a losing record of 3-4.

Not only do they have a losing record, but they are quickly falling out of contention in the NFC East. Many people thought it would be another battle between the Eagles and Cowboys for the top spot in the division, but the Washington Commanders took over the Cowboys' role and Dallas was demoted to second place to become back-to-back division champions.

Let's take a closer look at how far the Cowboys have fallen based on their latest Super Bowl odds.

Odds over DraftKings Sportsbook

If their Super Bowl odds are any indication, the Cowboys' Week 8 loss to the San Francisco 49ers all but put the nail in the coffin of their championship hopes and dreams. A decrease from +3500 to +8000 in a week results in a decrease in the implied probability from 2.78% to 1.23%.

It was just a year ago when the Cowboys finished the regular season with a 12-5 record and the NFC East crown while looking like legitimate Super Bowl contenders. What exactly happened to this team is up for debate, but they are a shell of their former selves.

It wasn't just bad luck that led to their 3-4 record. From an analytical perspective, the Cowboys were also a disaster. They currently rank 27th in the NFL in net yards per game at -0.8. Only the Saints, Giants, Panthers, Browns and Patriots fare worse.

If you want to look at some more advanced numbers, they are 23rd in EPA per game and 30th in opponent EPA per game.

Many of their offensive problems can be attributed to Dak Prescott having the worst season of his career. His 63.7% completion rate is his worst since 2017 and his eight interceptions are on pace to match a career high of 15. His QBR of 47.2 and quarterback rating of 84.5 are also the worst of all seasons.

Unless the Cowboys make significant changes, fans can kiss their Super Bowl dreams goodbye.

Odds are updated regularly and are subject to change.

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