Bettors bounce back after ‘best 3 days ever’ for sportsbooks
Had Las Vegas been able to host capacity crowds for the NCAA Tournament, the first three days of the biggest sports betting event of the year would have been perfect for the valley’s sportsbooks.
The games couldn’t have gone much better for the books, as underdogs went 24-15 ATS with 16 outright upsets Friday, Saturday and Sunday.
“As far as our books go, those were possibly the best three days we’ve ever had in the opening round,” MGM Resorts director of trading Jeff Stoneback said. “That’s because there’s just been so many upsets.”
The battered bettors who stayed in town Monday bounced back, as favorites went 7-1 ATS to close out the round of 32.
“We really can’t complain,” Stoneback said. “They’re not going to come back if they lose every day.”
Close cover
No. 1 seed Gonzaga barely covered as a 15½-point favorite in an 87-71 win over Oklahoma. The Sooners trailed 77-68 with 2:38 left, but the Bulldogs closed the game on a 10-3 run. Oklahoma’s Alondes Williams missed a free throw with 36 seconds left that would have made the final margin 15.
No. 1 seed Michigan covered as a 4½-point favorite in an 86-78 win over Louisiana State. After missing a 3 with 29 seconds left, the Tigers let the Wolverines run out the clock rather than foul and extend the game, much to the dismay of LSU bettors.
“I found that interesting to see them give up that early,” Westgate sportsbook vice president Jay Kornegay said.
Pac-12 power
Oregon pulled off the only upset of the day, sprinting past Iowa 95-80 as a 5-point underdog. Pac-12 teams are 9-1 straight up and ATS, with Colorado (+1) the lone loser in Monday’s 71-53 defeat to Florida State.
“That’s pretty impressive for a conference that was supposed to be down and didn’t receive a lot of praise during the course of the season,” Kornegay said.
UCLA (-5½), an 11 seed, whipped Abilene Christian by 20, and Southern California (-1½) crushed Kansas by 33.
Oregon State, a 12 seed, is one of four double-digit seeds in the Sweet 16 after eliminating Oklahoma State 80-70 on Sunday.
The Beavers are 6½-point underdogs to Loyola-Chicago in Saturday’s Sweet 16 opener.
Sunday nun day
The Ramblers, after a pregame prayer from Sister Jean, their 101-year-old team chaplain, knocked off No. 1 seed Illinois 71-58 on Sunday in what was a monster win for the books.
“The public was all over Illinois,” Stoneback said. “On that game alone, we won half as much as we won on the first two days combined. A big six-figure win.”
Books also were counting their blessings in the futures book, as the Fighting Illini, who opened the season 100-1 long shots to win the national title, were one of their largest liabilities.
“Some people said it was unfair for Loyola to play on a Sunday, because you can’t beat a nun on Sunday,” Kornegay quipped.
The Big Ten, considered the strongest conference entering the tournament, is 6-6 straight up and 5-7 ATS.
“It’s been very difficult to handicap sports during the pandemic,” Kornegay said. “I’ve felt there’s been inconsistency throughout the sports world ever since they resumed play.
“It’s difficult for people to get a rhythm for what’s going on during the course of the season.”
Major wagers
BetMGM took its largest two wagers of the tournament on Monday’s final two games. The bets split, as a $360,000 straight wager on Kansas +2 never had a chance against USC and a $300,000 straight bet on Alabama -5 won easily in a 96-77 victory over Maryland.
BetMGM bettors lost a $224,400 wager on Abilene Christian +5 and won $153,000 on Florida State -1 and $150,000 on Oregon +5.
Sweet 16 lines
In Saturday’s other games, 15 seed Oral Roberts is an 11½-point underdog to Arkansas; 11 seed Syracuse is a 6-point underdog to Houston; and Villanova is a 6½-point underdog to No. 1 seed Baylor.
On Sunday, Gonzaga is -13½ over Creighton; Michigan is -3 over Florida State; Alabama is -4½ over UCLA; and Oregon-USC is a pick’em.
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.