Lakers plunge in NBA betting after securing Lebron James signature

News of LeBron James signing with the Los Angeles Lakers has caused the betting odds on the Lakers winning the 2019 NBA title to shorten.

James, according to numerous sources, signed with the Lakers for over $153M on a four-year deal today.

A lot of sportsbooks, at time of writing, currently have betting suspended on NBA Ante Post. However, some bookmakers, including Bovada, have tightened the Lakers in from +700 to +400.

Many other sportsbooks may do something similar as they look to guard against large payouts should LA, in fact, win the title.

LeBron’s decision to join the Lakers will come as no surprise. There was major buzz about him moving to the Lakers during the regular season of 2017/18.

The news also comes without much of a delay following the start of free agency. There were already numerous signings made very early on Sunday, but James’ still came less than 24 hours into the start of 2018’s NBA free-agency period.

James’ $154M deal over four years averages out to $38.3M per season over the next four. At the age of 33, the Lakers might overpay for James at the very end of the deal when he is 37 years old.

However, in the short term, James has made the Lakers an instant title threat. He is a credible threat for a triple-double for points, rebounds, and assists in every game he plays. Furthermore, James is the only player in the Top 10 for scoring average last season that played the full 82-game season.

From a betting perspective, it’s the Houston Rockets and the Cleveland Cavaliers that have lost so far in NBA Ante Post. Trevor Ariza, an important supporting player last season, signed with Phoenix. Houston is now third-favourite behind Golden State and Los Angeles. Meanwhile, the Cleveland Cavaliers have drifted way out to +19900 as it is unfathomable that they should contend for a title in 2018/19 having lost their star small forward.

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