Cliff Lee Signs with Philly, Rocks MLB Betting

Cliff Lee has signed with the Philadelphia Phillies in a move that came as a surprise to most Major League Baseball observers and that will have a big impact on odds betting.

The free-agent pitcher reached a preliminary agreement on a $100 million, five-year contract with the Phillies, rejecting offers from the New York Yankees and Texas Rangers that could have seen him earn around an extra $50 million in total.

The 32-year-old's decision to join the Phillies, who lost the National League Championship series to eventual champion San Francisco last year, gives them a huge advantage over their rivals for the coming season, including American League finalists New York and Texas.

MLB Betting Odds

With such a strong team coming into the next season, the Phillies now sit in the third line of betting at both William Hill and Titan Bet, and have actually drawn level for favoritism at 888, tied with both the Boston Red Sox and the New York Yankees.

888 2011 MLB title odds: Boston Red Sox, New York Yankees - 8/1; San Francisco Giants - 10/1; Minnesota Twins - 16/1; Tampa Bay Rays, Texas Rangers - 18/1.