LeBron's homecoming makes Cavs title favorites in Vegas, sends Heat odds plummeting

Kevin Kaduk
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A Cleveland Cavaliers fan holds up a LeBron James poster at the New York Yankees vs Cleveland Indians baseball game Thursday, July 10, 2014, in Cleveland. (AP Photo/Tony Dejak)

LeBron James wrote in his homecoming letter on Friday that he wasn't guaranteeing a title. 

The oddsmakers in Las Vegas, however, aren't taking any chances. 

According to Bovada.com, the Cleveland Cavaliers are now 4/1 to win the 2014-2015 title with LeBron leading the charge. That's tops in the league, followed by the defending champion San Antonio Spurs (5/1), the Oklahoma City Thunder (6/1), the Chicago Bulls (7/1) and the Houston Rockets (8/1). 

As for the suddenly Lebron-less Miami Heat? They've tumbled all the way to 50/1.

You'd be getting a better possible return on your money if you had the foresight to see LeBron's return to Cleveland coming. The Cavaliers were 60/1 to win the NBA title the day after the Heat fell to the Spurs in the Finals. The Heat, meanwhile, were 7/2 favorites to win the NBA title that morning in mid-June.

What a difference one month — and the decision of one superstar — can make.