News

Vegas oddsmakers name Cubs as favorites to win the 2016 World Series

Written by
Chris Bourg
Photograph: Erica Gannett
Advertising

Back at the beginning of November, the Cubs' odds of winning the World Series were listed at 11/1 on the popular online gambling site Bovada and 10/1 on Vegas Insider. Now with the additions of Jason Heyward, Ben Zobrist and John Lackey, as well as a wave of offseason moves made by other teams across the league, those odds have lowered to only 6/1 at both sites. This makes the Cubs the outright favorites to win the World Series on Vegas Insider and co-favorites with the San Francisco Giants on Bovada. The White Sox, meanwhile, have seen their odds move up as high as 60/1 despite the acquisitions of Brett Lawrie and Todd Frazier.

A few notes on these new odds:

  • Remember, Vegas odds are not a reliable indicator of which team will win the World Series. Bookmakers want to make a profit, so they set their lines and odds accordingly. If a team has a lot of money on them, bookies will lower their odds to encourage action on other teams, or at the very least mitigate losses from that team potentially winning. That's why you see scenarios such as the Red Sox, who were bad last year, listed as such high favorites going into 2016. The team likely has a lot of money coming in from its large fanbase and bookies adjusted odds as they saw fit. There's a reason Las Vegas is able to build and maintain all those nice shiny buildings out in the desert.

  • Hopefully you threw down money on the Cubs when they were still 11/1, because those odd were as good as you'll get this year. So if you're still thinking of getting rich off a Cubs World Series this year, do it now. As more Chicago money is bet on them, the odds will likely continue to drop which means lower payouts.

  • Despite the vast offensive improvements the White Sox made so far this offseason, Vegas still doesn't think very highly of the team's chances of winning it all this year. While oddsmakers are certainly justified in that belief, there is still good value to be found in betting on the South Siders, especially with an over/under season win bet option and an American League Central Division championship bet. The Sox could very well end up with a record around .500 and potentially have a breakthrough year now that the team's atrocious offense has been bolstered to complement its very good pitching staff.

  • Since 2009, the San Francisco Giants have missed the playoffs in every odd-numbered year and won the World Series in every even-numbered year. We are coming up on an even-numbered year. Do not look at this trend and think that the Giants are "due" for another championship. This is bad reasoning that could lose you some money.
You may also like
You may also like
Advertising