Cantor Gaming became the first Nevada bookmaker to release NFL season win totals on Wednesday (hat tip to J.W. for posting about it as a FanShot). The teams with the highest win totals are the Green Bay Packers and the New England Patriots, each of whom were given 12. The Cleveland Browns, along with the Jacksonville Jaguars and the Indianapolis Colts, are tied for the lowest win total at 5.5.
Cleveland Browns Win Total for 2012 NFL Season
Over 5.5 wins Even
Under 5.5 wins -130
Once again, my a disclaimer is that my interpretation of betting odds is still in the learning phase, so correct me if I am wrong. Let's assume that you want to make a profit of $100. If you take the over (six wins or more), you would get $100 back if you made a bet of $100 since that is what you put in. If you take the under (five wins or less), you would have to make a bet of $130 in order to make a profit of $100. In that sense, the odds are saying that Cleveland is more likely to fall in the "under" category.
Will the optimism of having Trent Richardson and Brandon Weeden on offense this year be enough to get you to choose the under? Keep in mind that over the past four seasons, Cleveland has finished with 4, 5, 5, and 4 wins.