On Monday night, the Las Vegas Raiders announced head coach Jon Gruden had resigned from the organization. The news of the Jon Gruden resignation came after reports surfaced of his homophobic and misogynistic email remarks, along with racist statements towards NFLPA executive director DeMaurice Smith.
Did sportsbooks see any movement in the betting market as a result?
TheLines chatted with Jeff Sherman, the vice president of risk management and golf oddsmaker for the Westgate SuperBook, to find out.
Did Jon Gruden Leaving Move Raiders Odds?
EH: Did the Westgate shift any of the Raiders’ betting markets after the announcement?
JS: We opened Broncos -3.5, took some dog money and took some sharp money on the Broncos -3. This was before everything (Gruden’s resignation). There really wasn’t a movement other than the one bet early in the day, and there was nothing later in the evening that changed based on this information in our book.
I saw some books that had lower numbers than we did and ended up where we were at. There are no long-term adjustments (for Raiders futures). Our Super Bowl futures that we changed were based on the Raiders losing on Sunday (to the Bears). We didn’t increase them any further based on this. It’s basically where they’re at relative to the other teams at this point.
Best Available Week 6 Odds: Raiders at Broncos
Jon Gruden Vs. NFL Top-Tier Head Coaches
EH: For comparison sake, what would you say a coach like Bill Belichick is worth to the point spread?
JS: I would say about a half-point. There’s this perception that he’s obviously worth the most, but it’s generally any other coach would be negligible and just wouldn’t see anything out of it. So if they said Belichick isn’t coaching on a Sunday, he’s got his staff that’s under him that are used to his ways. So it wouldn’t be too much of an effect. You’d just probably see some bettors that like to bet off information, and I think you’d see maybe a half-point move with him and not much with anybody else.
EH: From a schematic standpoint, what are you anticipating with the Raiders in your power ratings after the Jon Gruden resignation?
JS: They couldn’t do much more than they really did over the first three games. It’s really the adjustments that have been made over the last two weeks with the loss of the Chargers and the loss to the Bears. Where they’re at now is where we have ‘em, and we haven’t changed anything based on the change in the coaching or maybe changing in the way that they might game plan. Now, we’ll see how that’ll play out in Denver and make necessary adjustments based on how that goes, but there’s nothing in the interim.