Knicks bring back Isiah Thomas as consultant

Basketball Betting Lines

08/06/2010 - New York, NY (Sportsbook Betting Lines) - The New York Knicks have hired former head coach and team president Isiah Thomas as a consultant with the club.

Thomas, who oversaw the team's operations from 2003-08, never guided the Knicks to the postseason during his tenure with the club. He is currently the head coach at Florida International University, a job he will be able to keep simultaneously.

"I'm excited to once again be a part of the New York Knicks organization," Thomas said. "I was honored to have been asked to help during the recent free agent recruiting process and believe that this new role takes full advantage of my skill set as an evaluator of basketball talent."

Thomas will assist current team president Donnie Walsh in various capacities, including player recruitment.

"Isiah Thomas brings unique experience as a Hall of Fame player, coach, executive and owner, and we believe having him as part of our organization will be extremely beneficial to the team's success," Walsh said. "Isiah was helpful to the team's senior management during our most recent recruitment efforts, including assisting with the acquisition of Amare Stoudemire."

A Hall of Fame player with the Pistons from 1981-94, Thomas was a 12-time All Star and two-time NBA champion during his illustrious career. In addition to coaching the Knicks from 2006-08, he also coached the Pacers from 2000-03 and has an all-time record of 187-223 in five seasons.

During his tenure in the Knicks' front office, the team never won more than 39 games and won fewer than 25 twice. Thomas' tenure with the Knicks was also marred by the sexual harassment lawsuit filed by former team executive Anucha Browne Sanders.

Shortly after his time with New York ended, he was rushed to the hospital for reportedly overdosing on sleeping pills. He has since been hired as the head coach at FIU, where he went 7-25 in his first season in 2009-10.

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SPORTS BETTING

NFL Football Betting Online

In terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.

It is called the "pointspread."

Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.

But in modern sports betting, a "pointspread" is used.

A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.

In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.

The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere for online football betting .

Don't believe it? Just take a look at what happens around the Super Bowl.

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