The Knicks hired a new head coach in David Fizdale, drafted Kevin Knox with the No. 9 pick and added Mario Hezonja and Noah Vonleh in free agency.
And still, with an injured Kristaps Porzingis, Las Vegas believes New York will win few games in the 2018-19 season.
Westgate Las Vegas set the Knicks' over/under win total at 29.5 wins, according to manager Jeff Sherman, which is the fifth-fewest total among all 30 NBA teams.
Only the Suns (28.5), Bulls (27.5), Kings (25.5) and Hawks (23.5) were projected to win fewer games than the Knicks, according to Westgate.
New York finished 29-53 a season ago, its minus-3.6 point differential the eighth-worst in the league. Of course, that was with Porzingis appearing in only 48 games and under Jeff Hornacek. It's unclear when Porzingis will return to full health after he suffered a torn ACL last February.
"Without Kristaps, it's a chance to prepare the other guys for the moment Kristaps returns," Fizdale said last week. "We want Kristaps to come back to a team that already knows how to move without the ball, how to spread the court, what is a good and bad shot. All the things that a new team needs to learn."
Fizdale said previously his goal is to take the Knicks to the NBA Finals, although it's safe to say the rebuild will take some time.