The New York Jets odds to win the 2008 AFC East have been slashed from 15/1 to 5/1 following a night that had caught many a lines maker off guard. Thousands of savvy sports bettors descended upon online sports betting companies like vultures following the announcement that the Jets had acquired Brett Favre from the Green Bay Packers.
Bookmaker.com still offered an "old" line on the Jets at the time Gambling911.com broke the story that Brett Favre had been traded to New York. By morning, the oldest established North American facing online bookmaker had brought the line down to +525 (or 5 ΒΌ to 1 odds) with a payout potential of $525 for every $100 bet. Compare that with the New England Patriots requiring a $500 bet just to win $100.
"Does any of this really matter," commented Don Shapiro of Gambling911.com. "Favre or no Favre, I don't think anyone believes the Jets can win this division with New England here."
What the Favre acquisition essentially did was give the Buffalo Bills longer odds +1100 while the Miami Dolphins were listed with +3000 (for a payout potential of $3000 on every $100 bet).
Favre told ESPN before leaving Green Bay that he was eager to get into training camp somewhere.
"I just want to get on the field and get going -- I'm 38 years old," Favre said.
The Jets reportedly gave the Packers a third- or fourth-round draft pick that could escalate to a first-round pick depending on how well Favre and the Jets perform this season.
Jets chairman and CEO Woody Johnson issued a statement early Thursday.
"I am looking forward to seeing Brett Favre in a New York Jets uniform," Johnson said. "He represents a significant addition to this franchise, and reflects our commitment to putting the best possible product on the field.
"Mike Tannenbaum and his football administration staff did a great job of navigating this complex process. I am excited about welcoming Brett, Deanna and their family to the Jets organization."
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Mary Montgomery reporting for Gambling911.com
