To be a good bettor of sports futures is to be abreast of all the recent news but not overreact until it’s the right time to throw down a couple bucks. For Brooklyn Nets bettors, that was made a little more difficult during a rollercoaster offseason that finally seems to be nearing a stop with news Tuesday that Kevin Durant has agreed to “move forward” with the team rather than part ways.
At the height of Durant’s trade request, Brooklyn’s odds to win the 2022-23 title had moved to as long as we’ve seen them in the KD era. Those odds have since shortened precipitously — and with good reason. That means people who otherwise would have bet on the Nets but instead avoided them missed out an opportunity.
Here’s a quick glimpse of how the odds moved at Tipico Sportsbook since the start of the offseason:
- June 17 (after NBA Finals): +650
- June 24 (after NBA Draft): +700
- July 5 (five days after trade request): +3000
- Aug. 17 (after schedule release): +1500
- Aug. 23 (after trade request rescinded): +900
- Aug. 23 (three hours later): +700
The Nets’ odds saw similar drops at other sportsbooks. They went from 18-1 to 11-1 at Caesars and currently sit at +750 after once peaking at +5000.
The Nets' NBA title odds immediately shifted from 18/1 to 11/1 at @CaesarsSports as a result of the Kevin Durant news that he's staying.
Brooklyn's title odds were as high as 50/1 this offseason.
— Max Meyer (@TheMaxMeyer) August 23, 2022
Back on July 3, one New York bettor at @CaesarsSports wagered $1,000 on the Brooklyn Nets to win the 2022-23 NBA title at 50-1 odds.
Looking like a pretty good bet with the Nets now down to 11-1
— Ben Fawkes (@BFawkes22) August 23, 2022
The shorter odds aren’t stopping the bets from rolling in, though. Rather the return of Durant is giving Nets bettors more optimism. Brooklyn joined a list of only six other teams to receive at least six bets of $1,000 or more at Caesars.
There were 6 $1000+ bets put on the Nets to win the NBA title in a 90-minute span at @CaesarsSports following KD news today.
Only 6 other NBA teams (Warriors, Celtics, Lakers, Clippers, Suns, Nuggets) have gotten at least 6 $1000+ title bets since odds were first put up on 5/28.
— Max Meyer (@TheMaxMeyer) August 23, 2022
With still so much time to go until the start of the new season, only more movement can be expected.
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