Lakers' early playoff exit a blow to betting public

Entering the playoffs, more money had been wagered on the Los Angeles Lakers to win the Finals than on any other team at multiple sportsbooks. That money will be staying with the house.

The Lakers bowed out of the NBA playoffs Wednesday, losing to the Minnesota Timberwolves in a five-game, first-round series. They were nearly -200 favorites to beat the Timberwolves and attracted lopsided support from bettors to win the series. Lakers in six games was the most popular betting option in the series at ESPN BET.

The Lakers were a hot bet throughout the season, and the action at sportsbooks increased significantly after the midseason trade for Luka Doncic.

The Lakers' title odds shortened from 40-1 to 13-1 at some sportsbooks after the blockbuster trade, as action on the revamped roster poured in at sportsbooks. ESPN BET said that more NBA futures bets were placed the day after the Doncic trade (Feb. 2) than any other single day since the season started. Nearly 50% of all the bets were on the Lakers.

The betting support continued throughout the regular season, and by the time the playoffs tipped off, more than a quarter of the money bet on sportsbook FanDuel's odds to win the Finals was on the Lakers. Los Angeles had the second-shortest odds to win the Western Conference, behind the Oklahoma City Thunder, and was heavily bet to win the Finals as well. The largest reported Finals bet at BetMGM was on the Lakers, $100,000 at 10-1.

As of Thursday, the Thunder remained the favorites to win the Finals, listed at +140 at ESPN BET, followed by the Boston Celtics (+195) and Cleveland Cavaliers (+500). The Timberwolves were 20-1 to win the Finals.