LEBRON JAMES TO THE MIAMI HEAT? BETFAIR MAKES MIAMI FAVOURITE FOR NBA 2010/11 SEASON

With the 2010/11 NBA season still quite a few months away, basketball is front and center all over the world today as the reality show that is Lebron James is set to finally announce where he will be playing next season. Of course, Lebron being Lebron, he will be doing this on a live one-hour television special that will be broadcast on ESPN tonight. 

Even Las Vegas hasn't released odds on where Lebron James is going but, if you're looking to see where the money is going, you'll have to check out the European betting odds. 
Betfair works as an exchange where players make their own odds and are then matched with players who want to take the bet. This leads to an open market where prices are fluctuating all the time. Despite the LA Lakers having beaten out the Boston Celtics for the 2009/10 NBA Championship, they are only considered second favourites to the newly-revamped Miami Heat. 
After signing both Chris Bosh and Dwayne Wade, the Heat look like real contenders this year and with ESPN releasing a story indicating that Lebron James is leaning towards the Miami Heat, you may not be surprised to find out that they are now the betting favourites for the 2010/11 NBA season. I think it's a very significant moment as the Lakers were made instant-favourites after they won Game 7 against the Celtics. 
Lebron James to sign with the Miami Heat is going to send shockwaves around the NBA and you get the feeling that perhaps the hour-long special is to give Ohio the fitting tribute that it deserves. James' roots in that state go deeper than a casual observer would believe and he is a major source of pride in an area that isn't exactly experiencing its glory days. 
Opting for Miami over a bigger market team like New Jersey or New York is a significant gamble for James, but it may pay dividends knowing that he will be lining up alongside two of the NBA's marquee players. Neither of them signed a max deal and that clears the way for Lebron to step in. 
It's going to be a pretty wild and wooley few hours in the NBA Championship betting markets and I can see that Miami price plummeting to odds-on if Lebron confirms the move to the Heat. 
NBA 2010/11 CHAMPIONSHIP ODDS FROM BETFAIR
LA Lakers - 4.5
Orlando Magic - 7.8
Cleveland Cavaliers - 8.6
Boston Celtics - 10.5
Dallas Mavericks - 18.0
Denver Nuggets - 18.0
Utah Jazz - 26.0
San Antonio Spurs - 19.0
Oklahoma City Thunder - 26
Chicago Bulls - 7.2
New York Knicks - 6.2
Miami Heat - 3.2 
Portland Trailblazers - 32.0
Atlanta Hawks - 36.0
Detroit Pistons - 38.0
Houston Rockets - 34.0
New Orleans Hornets - 40.0
Charlotte Bobcats - 40.0
Milwaukee Bucks - 40.0
Phoenix Suns - 34.0
Washington Wizards - 38.0
LA Clippers - 36.0
Philadelphia 76ers - 42.0
Indiana Pacers - 55.0
Memphis Grizzlies - 55.0
Golden State Warriors - 60.0
Minnesota Timberwolves - 80.0
New Jersey Nets - 23.0
Sacramento Kings - 80.0
Toronto Raptors - 80.0