Ever been to a Nevada sports book and just stared at the odds board? Of course not — you have better things to do, such as attend pool parties.
Well, should you pay attention to that brightly colored board, you may see the odds move on a game or two, maybe a line or a total changing by a half-point or so.
So what causes odds to change? Well, any number of things. Sometimes, though, it’s the simplest answer — a big bet.
This brings us to the case of the Cleveland Browns’ Super Bowl odds at the MGM Resorts International sports books in Nevada. Cleveland, once 200-to-1 to win the title, is now 30-to-1 at the MGM books, according to David Purdum of BettingTalk.com.
MGM oddsmaker Jay Rood told Betting Talk that a “four figure” wager on the Browns last week caused MGM to slash its odds from 100-to-1 all way down to 30-to-1. Also, Rood indicated to Betting Talk that wagering on the Browns had picked up since the draft, when the Browns made a major splash by selecting quarterback Johnny Manziel No. 22 overall.
It’s important to note that future book odds — especially with long shots like Cleveland — can be more a reflection of the sports book’s potential liability on the team than anything else. In the end, oddsmakers have to adjust prices to manage risk. And not every Las Vegas sports book has the Browns that low of a price, as Betting Talk notes.
Nevertheless, it’s fascinating to think that somewhere out there, someone is holding a Browns ticket that will pay six figures if Cleveland wins its all.