Browns’ Super Bowl odds sharply reduced at sports book after big betPosted by Mike Wilkening on May 29, 2014, 11:53 PM EDT
... the Cleveland Browns’ Super Bowl odds at the MGM Resorts International sports books in Nevada. Cleveland, once 200-to-1 to win the title, is now
30-to-1 at the MGM books, according to David Purdum of BettingTalk.com.
MGM oddsmaker Jay Rood told Betting Talk that a “four figure” wager on the Browns last week caused MGM to slash its odds from 100-to-1 all way down to 30-to-1. Also, Rood indicated to Betting Talk that wagering on the Browns had picked up since the draft, when the Browns made a major splash by selecting quarterback
Johnny Manziel No. 22 overall.
It’s important to note that future book odds — especially with long shots like Cleveland — can be more a reflection of the sports book’s potential liability on the team than anything else. In the end, oddsmakers have to adjust prices to manage risk....