The Baltimore Orioles They began the season as the best long shot at sportsbooks, and were the underdogs in their 26 first games. At the All-Star Break, however, the Orioles emerged as the best-bet in baseball.
They were only 2,000-1 to win in June’s World Series, but they have been on a roll. Their 10-game winning streak has put them in the thick American League wild card race. At the break, the Orioles are 46-46 and 3.5 games away from the AL’s third wildcard.
Sportsbooks have been revising Baltimore’s odds at winning the World Series. The Orioles now stand at 250-1 and 15-1, respectively, to reach the playoffs at Caesars Sportsbook. They still have seven-figure liabilities.
The bookmakers claim they aren’t worried about the Orioles and expect them to stabilize in the final months of the season. However, they are also aware of how costly it can be to get hot.
“We were burned with Leicester City a few years ago.” [winning the 2016 English Premier League title as 5,000-1 long shots]Eric Biggio, the lead baseball trader at Caesars Sportsbook, stated that “every bookmaker in the globe said they have no chance.” “Everybody learned that lesson.”
Caesars reported that Caesars placed a $1,000 wager on the Orioles winning the World Series at 500-1, and a $1,000 bet for Baltimore to win their AL pennant at 250-1. The book also made several wagers on O’s at odds of 2,000-1 and 1000-1.
“Those add up,” Biggio said.
In June, the Orioles were supported by the betting public on a game to match basis. This was a major shift from the beginning of the season. According to DraftKings data, approximately 90% of all bets were placed on Baltimore’s opponent in many of their May and April games.
Despite their.500 record, Orioles are currently up about 17 units on the moneyline. This means that bettors who placed $100 on Baltimore each game this season would have made a $1700 profit, which is the highest mark in baseball.
Biggio believes the Orioles’ money line value has increased “40 cents” since the beginning of the season. According to Biggio, the Orioles could be a pick-em team in a similar matchup if they were +140 underdogs in an early season matchup.
“In April, May, with the A’s and Reds. [the Orioles] Biggio stated that they were one of the teams we just wanted to root for every day. We knew that we would need to win to have a decent day. Now, it’s flipped.”
Maryland’s Orioles are attracting a lot of bettors. The Orioles have been winning more money at Horseshow Baltimore’s Caesars Sportsbook than any other team. You can also get a $200 ticket for the Orioles to win at 2,000-1 odds.
Biggo doesn’t worry about the Orioles as yet but he warned that things could get serious if the team didn’t land a top-tier pitcher by the deadline. Biggio will continue to keep an eye on the Orioles, even if they don’t.
Biggio said, “No executive is going to be happy when they look in your September pools to see that we could loose $50 million to Orioles.” The reasonable baseball person will say that they have no chance, even though it is obvious. It is not possible to simply write it off. It has to be accounted for.”