Vegas title odds for Cavs, Lakers shift big after latest LeBron news
The decision LeBron James made to not opt into his contract with the Cleveland Cavaliers for next season is viewed by most as a mere technicality, but Las Vegas oddsmakers clearly think it is an indication of where he will end up this summer.
On Friday morning, LeBron informed the Cavs that he will not be picking up the $35.6 million player option on his deal. NBA reporters were quick to note that Cleveland is still in the mix to sign LeBron and opting in probably would have meant a trade is in place, but Vegas wasted no time shifting championship odds for the 2018-19 season.
Before LeBron decided not to opt in, the Cavs were at 12/1 odds to win the NBA Finals next year. That quickly plummeted to 40/1 at one sportsbook and 50/1 at another. The Los Angeles Lakers were 7/1 to win it all as of Friday afternoon.
Las Vegas sportsbook @CGTechnology_ moved the Cavs from 12/1 to 40/1 to win next season's title today on LeBron James news.
— David Payne Purdum (@DavidPurdum) June 29, 2018
Wynn embracing the craze. Cavs now 50-1. Lakers 7-1 https://t.co/u8jUjopkLR
— Doug Kezirian (@DougESPN) June 29, 2018
If you’re a believer in Vegas insiders always having the answers, the LeBron sweepstakes are already over. Oddsmakers have made it clear which team they think King James is going to sign with.