If Vegas is that far off, as the bets come in, the line will correct itself. If a ton of money comes in on us to beat that spread, the line will reduce. If a ton of money comes in on Oregon to cover, it'll move up. Vegas isn't in the business of losing money. They roll with the public sentiment, try to get the bets to 50/50, then make money on the juice.
The bookies REALLY don't care what the spread is, the over/under or who wins. If you want that spread to drop, you along with 500,000 of your friends, put money on us to beat the spread.