Tim Tebow Cut From the New England Patriots: All Bets Off

Popular NFL quarterback Tim Tebow, formerly with the Denver Broncos and New York Jets, has been cut from the New England Patriots. 

The Pats' decision to cut ties with Tebow before Saturday's 6 p.m. ET 53-man roster deadline was first reported by ESPN NFL Insider Adam Schefter.

Tebow signed with the Patriots in June and has struggled with consistency during the preseason. 

Tebow posted on Twitter:

I would like to thank Mr. Kraft, Coach Belichick, Coach McDaniels and the entire Patriots organization for giving me the opportunity...

BetOnline had released odds on whether quarterback Tim Tebow will appear on the New England Patriots Week 1 roster earlier in the week. 

“The betting public is taking the Yes; 67% of the bettors think he will be,” said BetOnline spokesperson Dave Mason.

According to Mason, sports bettors eat up anything Tebow related.

"These are among our most popular betting props," he tells Gambling911.com.

“Yes” was the favorite at -200 while the “No” paid $16 for every $10 bet.

- Don Shapiro, Gambling911.com