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The Cincinnati Reds opened their pocketbook this offseason, and sportsbooks have taken notice.

The Reds were being offered at +5000 to win the 2020 World Series by PointsBet immediately after the Washington Nationals won the title in October — tied for 17th among the 30 Major League Baseball teams. With pitchers and catchers due to report in two weeks, those odds have dipped to +3000, although still tied for just 14th overall.

The story is similar at BetAmerica, the Churchill Downs-owned sportsbook that has slashed the Reds’ odds from +4000 to +2800 following “a number of significant bets in recent weeks.”

Cincinnati also has been bet down from +2000 to +1300 to win the National League pennant at BetAmerica and +1400 at PointsBet.

The driving force behind the significant change in the Reds’ 2020 outlook has been a slew of notable moves, including:

• 3B Mike Moustakas: Four years, $64 million
• OF Nick Castellanos: Four years, $64 million
• OF Shogo Akiyama: Three years, $21 million
• SP Wade Miley: Two years, $15 million
• RP Pedro Strop: One year, $1.825 million

The offseason spending spree could end up amounting to $164 million, more than the Reds had spent in free agency over the past decade. They also will have starting pitcher Trevor Bauer for a full season.

It has also opened the eyes of pundits and bettors, who now see the Reds as a legitimate contender.

“The Reds have opened their wallets this offseason, and their big signings in Mike Moustakas and Nick Castellanos have our players confident they’ll be a huge playoff chance this year,” said BetAmerica president Ian Williams.

The Houston Astros opened as 2020 World Series favorites at most books before manager A.J. Hinch was fired following MLB’s investigation into a sign-stealing scam.

The New York Yankees now are listed as the favorites at both BetAmerica (+320) and PointsBet (+350). The Los Angeles Dodgers are being offered at +550 by both books, with PointsBet also offering the Astros at +550 while BetAmerica lists Houston at +400.

The Atlanta Braves are the fourth betting favorite by both: +1100 at PointsBet and +1200 by BetAmerica.

The New York Yankees are +320 favorites at BetAmerica to win the 2020 World Series, ahead of the Los Angeles Dodgers (+550), Houston Astros (+600) and Atlanta Braves (+1200).

The Kansas City Royals, Detroit Lions, Baltimore Orioles and Miami Marlins — +20000 longshots by PointsBet immediately after the 2019 World Series — have retained the longest odds at PointsBet. All four teams are now being offered at +100000.

–Field Level Media (@FieldLevelMedia)