LeBron to Cleveland rumors have bettors putting money on Cavs to win it all next season (and Vegas backtracking)

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Winning at sports gambling is about taking smart risks, ones that could pay off with a nice reward. Find the good odds where you think the bookmakers (or the betting public pushing them) is off target then jump on it.

After the NBA Finals last season, when future bet odds on next season’s NBA champion came out, the Cleveland Cavaliers were between 40-1 and 60-1, depending on where you looked. Then the LeBron James return to Cleveland rumors started picking up steam — and gamblers saw the value and started putting money on the Cavs while the odds were still high.

Doesn’t matter that LeBron has yet to make a decision (and the Heat remain confident), and it doesn’t matter that if LeBron picks Cleveland that is a young, untested team that may not be able to win it all year one. LeBron instantly makes any team a contender and if you can place money on a potential contender at long odds, it’s worth the risk.

People did, particularly fans (these tend not to be large, professional bets), and Vegas is freaking out just a little, as David Purdum wrote for ESPN.

More bets have been placed on the Cleveland Cavaliers to win the 2015 NBA title than on any other team at the Las Vegas Superbook.

“They are our biggest liability right now,” said MGM VP of Race and Sports Jay Rood. “We took a dime ($1,000) on them at 40-1.”

The Cavs are currently down to 10-1 at the MGM.

For bookmakers, sports gambling is about covering their risks, and the Cavs have become a risk to cost them money.

You can find the odds now and place a bet at online casinos as well as some spots in Vegas, although a number of casinos have taken down NBA futures betting until free agency plays out (some casinos, such as the Wynn, have had that as their policy for years).

If LeBron jumps to Cleveland, the Cavs still are not likely to be favorited against the best of the West (and maybe Chicago, depending upon who they do or do not land in free agency). That according to Las Vegas Superbook assistant manager and head NBA oddsmaker Jeff Sherman, speaking in that same ESPN piece.

If James were return to Cleveland, where he spent the first seven seasons of his NBA career, Sherman said he would adjust the Cavs’ odds to around 8-1.

“They are such a young team,” Sherman said of the Cavaliers. “They would be better positioned for the next season than this upcoming one.”

Report: Clippers hiring ex-Cavaliers executive Trent Redden

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The power dynamics within the Clippers are shifting, and the ground apparently hasn’t settled yet.

Doc Rivers has been stripped of his presidency. Jerry West became a consultant. Lawrence Frank now holds the most prestigious title in the front office, and newly hired Michael Winger will report to him. Also falling under Frank in the organizational chart? Trent Redden.

Kevin Arnovitz of ESPN:

Longtime Cleveland Cavaliers executive Trent Redden will join the LA Clippers’ front-office staff as assistant general manager, league sources said on Monday.

Redden was ousted in Cleveland with David Griffin. He’ll help the Clippers simply by providing another capable executive. They’ve long needed to add front-office employees (and pay for them).

But Redden also exacerbates the issue of Frank’s underlings having far more front-office experience than him. As the Clippers try to establish their new setup, we’ll see whether that creates complications.

Warriors’ Steve Kerr: I expect to coach all season and for many years ahead

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Warriors coach Steve Kerr has missed significant time the last two seasons due to complications from back surgery.

Could those issues derail his career?

Kerr, via Scott Ostler of the San Francisco Chronicle:

“I fully expect to coach all year,” Kerr says in a no-nonsense tone. “That’s my expectation. And for many years to come.”

On the most basic level, it’d be good if Kerr feels well enough to coach. The headaches sound miserable, regardless of his job.

But it’d also be ideal if the NBA didn’t lose one of its best coaches just as he’s getting started. The 51-year-old Kerr might wind up the greatest coach of all time. Obviously that’s a long way off, but he has that potential – health permitting.

Quinn Cook signing two-year contract with Hawks

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The Hawks began last season with just two point guards, one fewer than most teams – especially notable because neither starter Dennis Schroder nor backup Malcolm Delaney was experienced for his role.

Schroder and Delaney return, but Atlanta is adding another option – Quinn Cook.

Shams Charania of Yahoo Sports:

Cook is a borderline NBA player. He might not make the regular-season roster. He also might supplant Delaney for a rotation spot.

A 24-year-old who has spent most of the last two years in the D-League (also getting stints with the Mavericks and Pelicans), Cook is a good outside shooter. He’s also steady, if unspectacular, in his lead-guard duties.

This is a solid flier at a position the Hawks could use depth.

Knicks sign Xavier Rathan-Mayes and Jamel Artis

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The Knicks signing Nigel Hayes leaked first.

But New York didn’t stop there.

Knicks release:

The New York Knickerbockers announced today that the team has signed forwards Jamel Artis and Nigel Hayes and guard Xavier Rathan-Mayes.

Like Hayes, Artis (Pittsburgh) and Rathan-Mayes (Florida State) went undrafted this year – making them eligible to be waived and assigned to the Knicks’ minor-league affiliate. That’s likely all three’s fate.

But first, each will have an opportunity to make the regular-season roster. The Knicks have just 14 players with guaranteed salaries, leaving one roster spot for someone on a standard contract. Chasson Randle (unguaranteed) is the incumbent choice, but these three could supplant him.