Major League Baseball

How Shohei Ohtani going to the Dodgers shifted several betting markets

Updated Dec. 9, 2023 6:37 p.m. ET

That massive thud you heard Saturday afternoon was the sound of a pile of money landing in Shohei Ohtani's bank account. But the cash didn’t come from the Toronto Blue Jays.

Rather, it was the Los Angeles Dodgers opening their wallet wider than ever. The hugely heralded free agent — a reigning MVP who’s as potent on the mound as he is at the plate — signed a 10-year, $700 million deal with the Dodgers.

Of course, that led to adjustments in World Series odds. Caesars Sports lead MLB trader Eric Biggio served up a quick breakdown of the aftershocks from this deal.

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Prior to news of the Dodgers-Ohtani deal, Los Angeles was the +800 second choice in Caesars Sports’ World Series futures market, just behind +750 favorite Atlanta.

"The Dodgers unsurprisingly received movement in their odds across the board after landing Ohtani," Biggio said. "For the World Series, they shifted from 8/1 to +550, and they went from -180 to -300 for the NL West title. And we moved Los Angeles’ season win total from 95 to 97.5."

But it’s those World Series odds that will attract the most attention. And that’s for a team that already gets plenty of attention in Caesars’ Las Vegas market.

"Absolutely. In Vegas, we have always taken a lot of Southern California money on the Dodgers. So I can only see that growing," Biggio said.

On Friday, it appeared Ohtani would land with the Blue Jays. As such, Caesars had Toronto at +1000 to win it all. Now, Toronto sits at +1800, the eighth choice on the board.

Dodger Blue vs. Pinstripes?

The Dodgers’ signing of Ohtani is mountainous, to say the least. But the New York Yankees made a notable move in the past few days, too, landing star outfielder Juan Soto in a trade with the San Diego Padres.

New York is now the +900 third choice on Caesars’ World Series futures odds board. Biggio expects Pinstripes action to pick up, as well.

"The Yankees will be another popular team. The sentiment after the Soto trade is that the Evil Empire is back to its spending ways," Biggio said. "The Dodgers-Yankees World Series exacta combo is going to be a very popular ticket."

Patrick Everson is a sports betting analyst for FOX Sports and senior reporter for VegasInsider.com. He is a distinguished journalist in the national sports betting space. He’s based in Las Vegas, where he enjoys golfing in 110-degree heat. Follow him on Twitter: @PatrickE_Vegas.