The Golden State Warriors are once again giant favorites to win the NBA title
The Warriors start the season as odds-on title favorites, listed at -200 at multiple sportsbooks.
No other franchise in the past 30 years has been an odds-on favorite to win the championship in the preseason, according to betting data archive Sportsoddshistory.com.
Jeff Sherman, a sportsbook manager who oversees the NBA odds for the SuperBook, cautions that the league is far from being wide open.
Sherman said the hometown betting interest on the Vegas Golden Knights has played a role in more money being wagered on the Stanley Cup odds than the NBA title odds, but said the Warriors' lofty odds have caused some bettors to stay away from early action on the NBA.
Caesars Palace also said its NHL futures handle was greater than the NBA market at this point. "That has more to do with how the market is laid out than the sport itself," a Caesars sportsbook director said. "There aren't eight teams who can win the NBA title. There are only eight teams in the NHL who can't win [the Stanley Cup]."
When it comes to betting, parity creates more bets. You know the Warriors are going to win their 3rd in a row, so who would even take a flyer on their favorite team.
In late September, a bettor at the SuperBook placed a $67,736.25 bet on Golden State to make the playoffs at -10,000 odds. If the Warriors reach the postseason, the bettor will win a net $677.35.
Not worth it.