(CBS) LeBron James’ choice to return to the Cleveland Cavaliers immediately shifted the balance of power in the NBA, and the Vegas odds reflected that.

In the moments after James announced his decision late this morning, the Cavaliers became the favorites to win the 2015 NBA title. The Heat? Well, their odds fell to 50/1 — middling among the other 29 NBA teams.

And the reverberations aren’t yet done. Stars Carmelo Anthony and Chris Bosh remain on the open market, so there will be a little more shifting most likely. Here’s a look at how the odds currently stack up, though, courtesy of Bovada.

Cleveland Cavaliers 4/1
San Antonio Spurs 5/1
Oklahoma City Thunder 6/1
Chicago Bulls 7/1
Houston Rockets 8/1
Los Angeles Clippers 10/1
Indiana Pacers 18/1
Golden State Warriors 25/1
Portland Trailblazers 25/1
Dallas Mavericks 33/1
Los Angeles Lakers 33/1
Washington Wizards 33/1
Brooklyn Nets 40/1
New York Knicks 40/1
Toronto Raptors 40/1
Memphis Grizzlies 50/1
Miami Heat 50/1
New Orleans Pelicans 50/1
Denver Nuggets 66/1
Phoenix Suns 66/1
Atlanta Hawks 75/1
Boston Celtics 75/1
Charlotte Hornets 75/1
Detroit Pistons 100/1
Minnesota Timberwolves 100/1
Milwaukee Bucks 200/1
Orlando Magic 200/1
Philadelphia 76ers 200/1
Sacramento Kings 200/1
Utah Jazz 200/1