The AFC East presents some interesting scenarios. The New England Patriots are favored by a mile to with the East. The Pats missed the playoffs last year, badly missing their all-world Quarterback Tom Brady. This season, Brady is back – fresh off his knee surgery. The Patriots chalk up the futures market with one to seven odds. Odds of this size are as close to the bookmakers calling this bet a sure thing. When Vegas says sure thing, I look to other bets that might pay me well should they come to pass.

The Miami Dolphins possess futures odds of eleven to two. Miami looks to run the Wildcat formation as effectively as they did last season. Since taking over the GM duties of the Dolphins, Bill Parcels has whipped this previously struggling franchise into shape. The Dolphins showed potential last season, making the playoffs and sitting as the defending division champions.

The New York Jets say goodbye to Brett Favre and hello to the future of the franchise, Mark Sanchez. The Jets finished the 2009 season with a 9-7 record and failed to make the playoffs. Though the Jets have upgraded on both sides of the ball, they are not quite ready for prime time. They have tough division opponents, and may well finish at the bottom of the standings. Despite getting odds of 14 to 1, money is better spent elsewhere – even if speculating.

Terrell Owens joins the Buffalo Bills and the league will take notice. Owens will line up opposite deep threat Lee Evans, who finally gets a respectable receiver opposite him. The Bills could contend for the division crown and have nfl odds of 15 to 2 to take down the division.

While there is clearly no value in betting the Patriots, I can make a valid argument on betting the defending division champions. The Bills show some value at 15 to 2, but are a bit further away than the Dolphins from coming together in full. The Dolphins get no respect at eleven to two odds; however, they get the respect of my value bet. Here’s to the wildcat!