Online Sports Betting Continues During Historic March Madness
The sports betting odds have been set in this historic Final Four. Let the next tidal wave of online sports betting begin. If you haven't been paying attention to March Madness, then you've been missing the biggest betting event of the entire year. Don't be fooled just because Major League Baseball is telling you it's opening day. This time of year belongs to college basketball and every sports book in the country will be raking in big bucks.
One study estimates that the amount of money gambled in last year's NCAA college basketball tournament equals roughly $7 billion, making this event bigger than even the Super Bowl. In addition to the money wagered legally through Las Vegas sports books, it it is estimated that several billions more are wagered through offshore and online sports books and illegal office pools.
March Madness: What makes this season's Final Four historic?
This marks the first season in the modern history of the NCAA college basketball tournament that all four #1 seeds have advanced to the Final Four, causing bettors across America to tear up their brackets and sports books to laugh at them. In fact, only three other times have even three #1 seeds advanced this far. Two years ago, not a single #1 seed advanced to the Final Four.
With the traditional number of close games and upsets during March Madness, the results are hard to predict and the sports betting odds tricky. So let's see how Vegas is weighing in days before the national semi-finals.
After Memphis destroyed Texas in the Elite Eight matchup, the Vegas sports books opened them as a one point favorite against UCLA who is in the Final Four for the third straight year. This is a surprise from expectations earlier in the tournament when most bettors picked Memphis to be the first #1 seed eliminated, based on their conference and past tournament flameouts. UCLA on the other hand has been a popular team to win the tournament for much of the year, based on past performance plus the addition of talented freshman Kevin Love.
In a matchup sure to be emotional for UNC coach Roy Williams, North Carolina is favored by three over Kansas, where Williams coached for many years before moving to his alma mater. Kansas finally broke through a wall for Coach Bill Self, who made the Final Four in his fifth try with his third different school. Until now, favorites have won 39 of 60 games. In a tournament where upsets and shocking buzzer-beaters are commonplace, the odds of these lopsided results were under 1.5%.
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