People are willing to be that LeBron James is going to Cleveland. In fact, so many people are willing to bet that he’s going home that more people have bet on the Cleveland Cavaliers to win the 2014-15 NBA Championship than any other team. Come on people, it’s still Cleveland. And it’s still LeBron-less.
Both the Spurs and the Bulls have accounted for a great net total in bet money, but the Cavaliers have the most total bets. At the Las Vegas Superbook, fell from 60-1 to 30-1. They are 10-1 at the MGM.
“They are our biggest liability right now,” MGM VP of Race and Sports Jay Rood told David Purdum of ESPN.com, adding, “We took a dime ($1,000) on them at 40-1.”
The sample size is too small for these odd betting trends to make a real impact, and as free agency begins to heat up and big name player begin to sign to eastern conference teams, then Cavaliers odds would likely drop. However, if LeBron James did end up in Cleveland, then assistant manager and head NBA oddsmaker Jeff Sherman said he would adjust the Cavs’ odds from 30-1 to around 8-1, as per ESPN.com.
“They are such a young team,” Sherman said of the Cavaliers. “They would be better positioned for the next season than this upcoming one.”
Bettors may be striking when they think the irons are hot. They’re placing relatively small sums of money on a a big rewards. At this point though, the boat has sailed. The odds seem a bit too tight, and the adjustments have been made, in the case of the MGM, perhaps to an overcautious degree.
LeBron going to Cleveland — I’ll quote Hemmingway when I say, “Isn’t it pretty to think so.”