- Close
ESPN Sports Betting Insider- ESPN Sports Betting Analyst
- Host of Daily Wager
- Behind The Bets podcast host
No one -- potentially in all of team sports -- can do what LeBron James is doing to the Las Vegas sportsbooks right now.
As the basketball world awaits another free-agency decision by James, the Westgate Las Vegas SuperBook halted betting Friday morning on its odds to win the 2018-19 NBA title. MGM sportsbooks are planning to close their NBA odds on Saturday night.
"This is the LeBron effect, and it's the third time it's happened," Westgate NBA oddsmaker Jeff Sherman said. "Most anyone but him, we're not concerned about. Nobody can impact the odds the way he can do it."
The Golden State Warriors were the even-money favorite when the Westgate took down its odds Friday. The Boston Celtics were 4-1, followed by the Houston Rockets at 5-1, the Los Angeles Lakers at 13-2, Cleveland Cavaliers at 12-1 and Philadelphia 76ers at 14-1.
Other books are keeping their title odds up but keeping a close eye on the news. NBA free agency begins Sunday at 12:01 a.m. ET.
James declined on Friday to pick up the player option on the final year of his contract with the Cavaliers and will become an unrestricted free agent, according to ESPN and multiple reports. CG Technology reacted to the news by moving the Cavs from 12-1 to 40-1, and the Wynn moved Cleveland back to 50-1 on Friday morning.
The books have been through this before, when James left Cleveland to join the Miami Heat in 2010 and returned to the Cavs in the summer of 2014. That summer, multiple Las Vegas sportsbooks took a flurry of bets on the Cavaliers at around 40-1 in the days before James announced he was returning to Cleveland.
A similar situation happened with Kevin Durant in the summer of 2016, before he announced that he was leaving the Oklahoma City Thunder to join Golden State. This year, books like the Westgate decided to be proactive and take the NBA title odds off the board until the major players are settled.
The Lakers, 76ers and Rockets are believed to be potential landing spots for James, who also could choose to return to Cleveland. Regardless of his decision, the Warriors will remain the favorites to win the title.
"I know he could resign with the Cavs, but then what?" John Avello, executive director of Wynn Race and Sports, told ESPN. "I'm OK with taking Cleveland money."
Of the potential candidates, the Lakers have attracted the most attention at multiple books. CG Technology said it took a $5,000 bet on the Lakers to win the title at 10-1 on June 13. The Westgate took a $4,500 bet on the Lakers at 12-1.
Some books have chosen just to wait it out altogether due to the risk. The sportsbook at the Golden Nugget has not yet opened betting on the 2018-19 NBA title.
"We are still waiting on a few moves," Golden Nugget sportsbook director Tony Miller told ESPN in a text message.