Odds Outlook: Raptors huge underdogs vs. LeBron and the Cavaliers

As a franchise, the Toronto Raptors are used to being underdogs. With a second-round playoff series vs. the defending champion Cleveland Cavaliers looming, it’s no surprise to see the sports betting world once again crowning Canada’s team as dogs.

Of the eight teams remaining in the postseason, the Raptors have the sixth-best odds to win the championship at +5000 — ahead of the Washington Wizards and Utah Jazz. It’s worth noting the Wizards had better odds than Toronto before their Game 1 loss to the Boston Celtics on Sunday.

Here’s a look at Bovada’s full list of title odds:

Golden State Warriors -200
Cleveland Cavaliers +300
San Antonio Spurs +900
Houston Rockets +1600
Boston Celtics +1600
Toronto Raptors +5000
Washington Wizards +7500
Utah Jazz +7500

When it comes to Eastern Conference futures, Toronto comes in third at +800. Cleveland is the heavy favourite at -275, while Boston is listed in second (+450) and Washington finds itself at the bottom (+1200).

Bovada has tabbed the Raptors as 6.5-point underdogs for Game 1, which gets underway on Monday. The shop opened the over/under at 208.5 in the first game of the 2016 Eastern Conference semifinals rematch.

Everyone knows Toronto is in tough to knock off the mighty Cavaliers, but if you think the Dinos can pull off the upset you can find some fantastic value in the series price. The Raptors’ odds to win the series come in at +375, which means a $100 wager would pay out $375.

On the flip side, the same $100 bet on the wine and gold to advance to the next round would pay out a meagre $18. Not great, Bob.

What do you think? Are oddsmakers not respecting the Raptors enough, or do the Cavs deserve to be such heavy series favourites despite their recent shaky play? Have your say in the comments.