Dodgers become betting favorite to win World Series after signing Shohei Ohtani

The Dodgers won the Shohei Ohtani sweepstakes courtesy of a 10-year, $700 million deal that had an immediate impact on their World Series odds.

Los Angeles, which supplanted the Braves atop the betting board, is now a consensus favorite to win the 2024 World Series.  

Updated odds on MLB teams to win 2024 World Series

BetMGM patrons had bet the Dodgers down to +550 on Monday with 11.4% of the tickets and 18.1% of the handle on Los Angeles. 

Erroneous media reports trigger shift in World Series odds at Vegas sportsbooks 

Rumors swirled about Ohtani potentially landing in Toronto after media reports, including one from MLB Network, indicated he was headed there on a private plane to meet with the Blue Jays on Friday. 

Money poured in on the Blue Jays as a result of the fake news. Toronto's World Series odds shortened from +1500 to as low as +800 across the market on Friday. The Blue Jays were back up to +1500 at BetMGM as of Monday. They opened at +1600.

This is just the latest "buyer beware" incident when it comes to bettors trying to gain an edge on where a player might land through media reports.

Heading into this year's NBA Draft, NBA insider and FanDuel partner Shams Charania suggested in a tweet that Scoot Henderson was "gaining serious momentum" to be Charlotte's pick at No. 2 instead of the favored Brandon Miller. The Hornets ultimately selected Miller.  

The optics are never good in these situations, and particularly when a league outlet is the purveyor of the "news" in question.

MVP and other futures odds on Ohtani, Dodgers this season

Here's a look at futures odds on Ohtani to be MVP, to have the most home runs, and have the most RBIs next season:

Ohtani was the American League MVP last year, marking his second time winning the award in the last three seasons. Ohtani is the only player to be unanimously chosen twice.

The Dodgers are now listed with an OVER/UNDER win total of after coming into the weekend with an already high 101.5.

Here are the Dodgers full futures odds for the season, including to win the NL West and the NL pennant: