The Pacers’ free agency moves didn’t earn them any favor with bettors in Las Vegas.

According to William Hill US, a sports betting bookmaker, the Pacers are sitting at 75/1 odds to win the NBA Championship next season. That’s tied for the 15th best odds with the New Orleans Pelicans and Dallas Mavericks.

However, just three weeks ago, the Pacers were sitting at 10/1 odds, good for fifth in the league. Only the New York Knicks suffered a bigger drop, from 22/1 to 200/1. Oklahoma City (15/1 to 40/1), Orlando (50/1 to 125/1), Dallas (35/1 to 75/1), Memphis (75/1 to 200/1), Washington (100/1 to 250/1), Charlotte (100/1 to 300/1) and Cleveland (200/1 to 500/1) also suffered significant drops.

“I’m not sure why they had (the odds) that low,” said Nick Bogdanovich, William Hill’s Director of Trading. “Obviously they had a nice year last year but everything was going to be predicated on free agency. … I think everyone was erring on the side of caution until the dominoes started to fall.”

The reasons as to why the Pacers suffered from such a dramatic drop range from how the free agency market has played out to the market they are in. The odds, updated as of July 2, take into account all reported trades and free agent signings.

The Lakers have the top odds at 13/10, followed by the Milwaukee Bucks at 13/2. There are five teams in the Eastern Conference ahead of the Pacers in the odds, with the possibility of more passing them as rosters continue to settle following free agency.

“Once the money keeps rolling in, we’ll keep lowering them or raise them,” Bogdanovich said. “You may even see (the odds) higher than that, which is rare because I think they’re still a pretty quality team.”

Pacers fans were ecstatic about the additions of Malcolm Brogdon and Jeremy Lamb, with hope the moves would improve the team after last year’s first round exit in the playoffs. However, sports bettors believe it will be the usual suspects hoisting the Larry O’Brien trophy at the end of the season.

“We don’t have any money on (the Pacers) whatsoever,” Bogdanovich said. “It’s a small market and out here, people tend to bet the Warriors and the Lakers and the Celtics, all the big-market, big-name teams. It’s not the easiest thing in the world to grab a bet on the Pacers out in Las Vegas.”