NBA Free Agency: Odds Favor Miami Heat and LeBron James

In one of the biggest NBA free agency signing periods in the history of the National Basketball Association, the Miami Heat landed the big prize as LeBron James will desert his hometown team in Cleveland and play for the Miami Heat, who will retain their own superstar free agent Dwyane Wade along with adding on yet another superstar forward Chris Bosh from the Toronto Raptors. The moves are likely to make the Heat an instant futures betting favorite in basketball odds at online sportsbooks to win the NBA title as well as a potential overlay on the board as they will instantly become a “public" choice along with the defending world champion Los Angeles Lakers.

In other big name NBA free agency signings, the New York Knicks forked out $100 million to the Phoenix Suns’ power forward Amare Stoudemire for a 5-year deal that is hoped to jump start the down and out marquee franchise of the league. The Chicago Bulls made big news with the signing of power forward Carlos Boozer from the Utah Jazz in an $80 million 5-year deal. The Dallas Mavericks were able to keep two of their NBA free agent stars at home as veteran scoring machine-power forward Dirk Nowitzki re-upped for $80 million over 4 years and center Brendan Haywood will return for $55 million over 6 years.

Memphis small forward Rudy Gay will also stay put as he signed a 5-year $82 million deal. Atlanta forked out a ton of cash as well for shooting guard Joe Johnson, who decided to stick with his team for $119 million over 6 years instead of entering the NBA free agent market. The James, Wade, Bosh deal with Miami is interesting as it’s an agreement based on working out enough salary cap room to fit them all in. James has caught considerable heat for his part in hyping the decision which was broadcast over 4 hours on ESPN and for deserting the area that he grew up in. He claims that pending deals with Miami will give him a better shot at winning a title.

2011 NBA Championship Odds