You have to remember Vegas sets a line to get 50/50 action. They release those early lines to major bettors then adjust. It's doubtful the average bettor in Oregon knows Cam Surton will not play and what that could potentially mean. They just see UT-10 and likely know we haven't faired well against them in too many years.
We have more talent and they lost their starting QB. I would not bet this game but I can see why.