Betting odds give Las Vegas more than 90 percent chance to land NHL team

By Case Keefer (contact)

Thursday, June 9, 2016 | noon

The nine members of the NHL executive committee aren’t leaking what happened Tuesday in New York when they met to discuss expansion.

At least one set of bookmakers is confident enough in their guess to allow bettors to wager on it, though. Offshore sports book Bookmaker.eu posted a proposition wager on whether Las Vegas would get an NHL team for the 2017-2018 season this week, as first reported by former Caesars Palace oddsmaker Todd Fuhrman via twitter.

The “yes” is a heavy favorite, listed at minus-2000 (risking $20 to win $1), with the “no” coming back at plus-800 (risking $1 to win $8). Adjusting for the house’s hold percentage, the line implies better than a 93 percent likelihood hockey is coming to Las Vegas.

It’s been a big favorite that billionaire businessman Bill Foley would bring an expansion franchise to T-Mobile Arena for more than a year. But that hasn’t stopped locals from growing restless with the lack of progress after more than 13,000 people put down season-ticket deposits starting in February 2015.

All signs point toward the announcement everyone has waited for coming within the next couple weeks. The executive committee is expected to offer an expansion recommendation to the league’s Board of Governors in a June 22 meeting before the NHL Awards at the Hard Rock Hotel.

Of the 30 governors — one representative from each team — 24 would need to vote in favor of a new franchise. If they approve, Foley would then need to pay a $500 million expansion fee.

And Bookmaker.eu would have to pay out anyone who bet the “yes”.

Case Keefer can be reached at 702-948-2790 or [email protected]. Follow Case on Twitter at twitter.com/casekeefer.