Both ESPN and NFL Network are reporting Cam Newton has signed a 1-year-deal with the New England Patriots worth $7.5 million. Reports suggest the Patriots see Newton as the short term answer to Tom Brady's departure earlier in the off-season.
There's been no official statement that the deal has been completed, however, this hasn't stopped bettors backing Newton to make an instant impact at the Patriots.
Since the rumours started circulating a couple of hours ago, bookmakers have cut Cam Newton's odds of winning the Comeback Player of The Year from +1800 to as short +340. US sportsbook, FanDuel make Newton the second-favorite in the market behind Ben Roethlisberger.
Bettors were also quick to react to the breaking news, in the last two hours Cam Newton has accounted for a massive 96% of all bets in the Comeback Player of The Year market.
The movement has been a lot less dramatic, but a few bookmakers have also cut Newton's odds in the Regular Season MVP market. Just this morning, the thirty-one-year-old could have been backed at +8000 in the MVP market, but is now as short as +2500.
A $20 wager at +2500 on Cam Newton winning the Regular Season MVP award would potentially return $520.
New England Patriots have been continually linked with Cam Newton following Brady's departure, but interestingly, the Washington Redskins were the +300 favorites to sign the former Panthers man.
Online bettors aren't just looking for action in the individual award markets, they've also been willing to part with their money on New England Patriots winning the Super Bowl. The increase in activity has forced a few sportsbooks to take drastic action, and despite the Patriots still being +2500 with one bookmaker to win the Super Bowl, another has gone as short as +1600.
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