What Does +5000 Mean in Sports Betting?

Have you ever woken up in the morning with an urgent need to use the bathroom but found it difficult to wake up your slumbering partner? Do you sometimes find it hard to shake off those early morning drowsiness and get ready for the day?

Wondering what time it is? Or how you should dress?

If the answer to either of these questions is yes, then you need to pay close attention to the latest sports betting news. 

Last week saw the release of the 2018 MLB post-season results, with the Cubs finally bringing baseball back to Chicago and overcoming a 3-1 series deficit to claim their first World Series title in 108 years. 

The Cubs became the first team in Major League Baseball history to overcome a 3-1 series deficit to win a World Series title, beating the Astros in seven games. The underdog story was one that captivated a nation and saw millions upon millions of dollars wagered on the Cubs in the post-season.

It was an incredible comeback, one that saw the smallest market in the history of MLB bet on the underdogs to triumph. The underdogs became the odds-on favorites in that game and on that series, with the Cubs’ dominance so total that it caused the Over/Under lines for the entire series to spike.

The underdogs’ story began in spring training when the Cubs were an over 4.5-point underdog to win the World Series, with most bookmakers offering a staggering +4000 return if bet on the ChiSox.

Spring training results were then relayed to the general public, with the general public rapidly coming to the conclusion that the underdogs had a great chance of bringing home the title – and they were right!

What does this mean for sports bettors?

Simply put, if you were betting on the Cubs during the regular season, then you would have had an outstanding chance of making money. Just imagine if you had bet on the Cubs -3.5 in April and the line had moved to +3 in October – you would have quadrupled your money!

There were two major points to take away from last week’s World Series. Firstly, anyone can win in sports – even the underdog. Secondly, the underdogs always triumph in the end, particularly in the World Series. When the underdog emerges on top, it always leads to an increased appetite for sports betting among the general public.

Why Did So Many People Bets On The Underdogs?

While many people have made money from the Cubs winning the World Series, there was one key factor that set them apart from previous seasons and previous World Series champions: the line movement.

The line movement on the Cubs is incredibly important. When you consider that the World Series is a single-elimination tournament, the line movement tells us a lot about the series. Simply put, the difference between the opened and closed books is that the closed books give the betting public confidence that the favorite will win and the opened books suggest that the underdog will triumph.

In the pre-season, opening lines are often wide, suggesting an anticipated close contest. However, as the season progresses and the favorites lose time and time again, the lines begin to move, giving the bettor confidence that the favored team is indeed doomed.

It is clear that the betting public has confidence in the underdog and is willing to lay huge odds on the favorites to lose. This is a massive change compared to previous years, where the favorite was always the safe bet.

What Does This Mean For Future Series?

The Cubs winning the World Series undoubtedly pleased fans in Chicago and around the world. However, this is likely to increase the appetite for more underdogs triumphs in the coming years.

Will other sports titles see a similar spike in wagering in the wake of the Cubs’ impressive accomplishment? We can only find out by watching and waiting.

According to OddsShark, this year’s MLB post-season saw 481.2 million American sports fans track one of their passions, with the majority (62%) following the Cubs. That makes the Chicago team the most-watched team in the history of the post-season, winning more viewers than the 2018 Winter Olympics, the 2018 World Cup and Brexit.

Will we see more underdogs claim World Series glory in the future? The Cubs have officially become an American institution and the odds of other teams claiming World Series titles are likely to increase.