Sportsbooks had to quickly tweak the Colts’ odds for the upcoming season before too many bettors put money on out-of-date lines, which had the Colts as high as tied for third-best Super Bowl odds in the league.
Lines moved quickly on Saturday night with Westgate lowering Indianapolis' Super Bowl odds from 12-1 to 30-1. Others were even more pessimistic, with Cantor Gaming shifting from 18-1 to 40-1, Points Bet going from 12-1 to 50-1 and FanDuel dipping from 15-1 to 60-1.
However, there was still a bit of a lag between the news breaking around 9:30 p.m. ET and sportsbooks shifting their lines. According to Action Network’s Darren Rovell, at least one bettor at Circa Sports made maximum bets on the under for 9.5 and 8.5 wins.
Most sportsbooks pulled the Colts off the board as soon word spread that Andrew Luck was retiring. One that didn’t? The Borgata in Atlantic City. One bettor made $1,300 in bets on the Colts under 9.5 wins — including one bet 20 minutes after the news hit. pic.twitter.com/9UI9iqthyX
— Darren Rovell (@darrenrovell) August 25, 2019
For some sportsbooks, the news was big enough to spook them out of keeping their lines up at all. Places that kept their lines up reportedly got hammered with plenty of bets in the brief window between Schefter’s tweets and any changes.
The Colts’ division odds took similar shifts down with Points Bet dropping them to +600 and the Houston Texans taking over as favorite.
One sportsbook, SuperBook at Westgate Las Vegas, went so far as to refund bets on Luck to win MVP, which were hovering around 8-to-1 odds.
Classy move by @SuperBookUSA refunding Andrew Luck MVP wagers.
— Dave Cokin (@davecokin) August 25, 2019
The Colts have a capable backup in hand with Jacoby Brissett, who started 15 games in 2017 during Luck's absence, but he clearly doesn't inspire much confidence. After the team finished 4-12 in 2017, their projected win total from Points Bet is just 6.
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