Odds to win the World Series

[ottawacubbie]

10/1 for the Cubs. Is that Vegas' way of saying wait until next year?

 

Good money to be had on the Angels 9/1 and the Yanks (well Giradi) at 5/1. Tigers also 5/1 and Red Sox at 7/2.

 

http://www.bodoglife.com/sports-betting/baseball-futures.jsp

[CubinNY]

If I were going to place money on a "long shot" of sorts I'd bet the NY Mets. Put the money down now and if they get Santana they should win the NL.

 

EDIT: The Diamondbacks wouldn't be a bad long shot bet either.

[rocket]

i like the diamondbacks at 25/1

[Clem Fandango]

If a big trade were to happen like a Santana trade or a Bedard trade, would Vegas change the odds for other teams since the season has yet to start? Or if you make the bet now with those odds do you keep those odds no matter what happens because you made the bet before hand?

[shnsajax]

They really don't like the Brewers much, and having the Cubs as the Favorites in the NL is nice and maybe the highest odds to win the division that I ever remember seeing.

[daske17]

Also keep in mind that Vegas odds aren't just set by probability of winning. It also takes into account the amount of bets placed on a certain team. Since the Cubs are an annual favorite bet, the odds are usually lower regardless of the talent put on the field.

[CubinNY]

If a big trade were to happen like a Santana trade or a Bedard trade, would Vegas change the odds for other teams since the season has yet to start? Or if you make the bet now with those odds do you keep those odds no matter what happens because you made the bet before hand?

You keep the odds made at the time of the bet.

[inari]

10:11 odds to win the central? What does that even mean? I'm not huge on gambling, so that makes no sense to me. I thought the second number represented what you put down, and the first represented the multiplier if you were right.

[CubinNY]

10:11 odds to win the central? What does that even mean? I'm not huge on gambling, so that makes no sense to me. I thought the second number represented what you put down, and the first represented the multiplier if you were right.

I'm pretty sure It means you have to bet 10 bucks to make 11. If you bet 5 bucks you win $5.50

[Mephistopheles]

and 10:11 odds should mean that you have a 10/(10+11)=~48% chance of winning the division, but since its Vegas' definition of odds, it's probably more like 10/(2*(10+11)) =~25%.

[jersey cubs fan]

10:11 odds to win the central? What does that even mean? I'm not huge on gambling, so that makes no sense to me. I thought the second number represented what you put down, and the first represented the multiplier if you were right.

 

If the odds were 10:1 and you put down 100, and won, you'd make 1000. I believe what 10:11 means is you'd have to put down $110 to win $100. In other words, they are a lock to win and won't pay out much at all. It's like betting on the Patriots to win the Super Bowl, they were 9/2 at the start of the year, and are now 2/7. If you put down $7, you will win $2. (I think)

 

And as daske points out, a lot of this is because so many people bet on the Cubs. Perhaps people just can't resist the urge to bet on the perceived longshot of the Cubs winning, so that if the Cubs ever do win, they can be proud of their bet. But it's not a good bet at all, because the odds are unfairly low due to the high activity.

[shnsajax]

10:11 odds to win the central? What does that even mean? I'm not huge on gambling, so that makes no sense to me. I thought the second number represented what you put down, and the first represented the multiplier if you were right.

 

If the odds were 10:1 and you put down 100, and won, you'd make 1000. I believe what 10:11 means is you'd have to put down $110 to win $100. In other words, they are a lock to win and won't pay out much at all. It's like betting on the Patriots to win the Super Bowl, they were 9/2 at the start of the year, and are now 2/7. If you put down $7, you will win $2. (I think)

 

And as daske points out, a lot of this is because so many people bet on the Cubs. Perhaps people just can't resist the urge to bet on the perceived longshot of the Cubs winning, so that if the Cubs ever do win, they can be proud of their bet. But it's not a good bet at all, because the odds are unfairly low due to the high activity.

 

Correct, its not an even money bet. You won't recieve an equal portion in the payout from what you bet down.