On October 25, 1998, Elam kicked a 63-yard field goal to end the first half against the Jacksonville Jaguars, tying Tom Dempsey's 28-year-old record for the longest field goal in NFL history. His cleats from the game are currently on display in the Pro Football Hall of Fame. Elam also scored the 20,000th televised point on "ABC Monday Night Football". He tied for third in the AFC (tied for fifth in the NFL) in scoring by kickers, and his 58 extra-point conversions ranked second in the NFL while also representing a team record for a single season. He also made six of eight field goal attempts and all 11 extra-point attempts for a team-leading 29 points in three postseason contests to move into second place in all-time postseason scoring by a Bronco. Elam converted two of four field goal attempts in Super Bowl XXXIII versus Atlanta Falcons and all four extra points for 10 points in the Broncos 34–19 win, earning his second Super Bowl Ring in his career. Against the Dallas Cowboys, he tied a franchise record that he already shared with four other players by converting six extra-point attempts. He set a franchise record for consecutive field goals made at Kansas City on Monday Night Football, converting his 14th in a row to top Rich Karlis' previous standard of 13 (1984–85), and he ran his streak to 19 consecutive before having a 37-yard attempt blocked vs. the Chiefs.