Official Vegas odds on the ‘08 MLB season (part 1)

I was in Las Vegas in February this year to (among other things) place my annual bets on the upcoming Cubs season. I thought it would be interesting to post for all the odds as I found them…  

Odds @ Caesars Palace, Ballys, Paris, Rio & Flamingo

Cubs to Win the 2008 National League Pennant
     Opening line 10/10/2007: 4/1
     Current as of 2/21/2008: 5/2

Cubs to Win 2008 World Series
     Opening line 10/10/2007: 8/1
     Current as of 2/21/2008: 5/1

These are not true odds because they are off-set by the total amount wagered. Historically, the Cubs (and most Chicago teams) are bet heavily by the many tourists from the Midwest and national members of “Cubs Nation” that bet more with their heart than mind.

Odds @ Venetian Las Vegas

Cubs to Win the 2008 National League Pennant
     Current as of 2/21/2008: 4/1

Cubs to Win 2008 World Series
     Current as of 2/21/2008: 8/1

Over/Under on the total number of regular season Cubs wins: 86.5

Venetian was offering better odds, presumably due to a smaller contigent from Chicago laying their money at this sports book. The Venetian is known as a convention/business traveler hotel and their sports book is not among the biggest or most popular. Sometimes you can find bargains at the less-touristy Vegas resorts.

Coming tomorrow: a very interesting “prop” bet from the Venetian

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    May 17, 2008   Posted in: observations

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