Caesars Sportsbook opened the Astros as -150 favorites over the Braves, after Atlanta finished off the Los Angeles Dodgers on Saturday in the NLCS to earn a spot in the World Series. The price has since ticked down to Houston -145, with the Braves listed at +125.
Game 1 of the World Series is Tuesday in Houston.
The Astros are back in the World Series for the third time in five seasons and have some sportsbooks facing a significant liability. In late June, Houston furniture store owner Jim “Mattress Mack” McIngvale placed $3.35 million in bets on the Astros to win the World Series at around 10-1 odds.
McIngvale regularly uses the betting market to hedge promotions at his store. His largest reported bet on the Astros, $2 million at 10-1 at Caesars Sportsbook, would pay a net $20 million and be one of the largest payouts ever at U.S. sportsbooks.
Atlanta did not look like a World Series contender for much of the season. The Braves’ World Series odds drifted to around 40-1 in mid-July after All-Star Ronald Acuna Jr. suffered a season-ending torn ACL.
The Braves didn’t climb above .500 until Aug. 6, making them the first team ever to reach the World Series after not having a winning record until that late in the season, according to the Elias Sports Bureau.