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An estimated $2.7 billion will be wagered on the 2024 Men’s NCAA Tournament and everyone getting in on the action seems to have a unique March Madness strategy, including one gambler who I covered here on BroBible last year that bet $100 on every underdog in the tournament.
Betting $100 on every underdog in the 2023 NCAA Tournament, that gambler ended up winning $1.9K by the time UCONN cut down the nets in Houston. It was the second year in a row he’d employed the strategy of betting ever underdog and this year the gambler’s back but upping the action tenfold and betting $1,000 on every underdog.
On Sunday, he released an update of how his bets were going through Saturday.
@mattybetss Recap: taking every underdog to win in March Madness 😩
In the NCAA Tournament play-in games he was up $1,100 (profit). Then on Thursday, Matty Betts said he had a “historic day” with 5 wins, 11 losses, and $2,700 in net profit which brought him up to $3,800 to start March Madness.
On Friday, he saw 6 wins and 10 losses for $3,300 in profit bringing the total to $7,100 through the first round of the 2024 NCAA Tournament. But then came the weekend and the round of 32 teams where favorites DOMINATED.
On Saturday, he went 0-for-8 betting $1,000 on every underdog for a loss of $8,000 on Saturday alone. That took his net earnings to -$900.
His followers are eagerly awaiting an update on Sunday’s action which was similar to Saturday in that favorites were nearly locks. In the second round of the NCAA Tournament, favorites were 15-of-16 in round 2 and 11-5 against the spread. This is NOT GOOD for someone betting thousands on underdogs.
Favorites went 7-of-8 on Sunday with the only underdog win coming when #6 Clemson upset #3 Baylor. From what I saw, Clemson was +160 against Baylor meaning he would have won $1,600 on that. But he presumably would have lost $7,000 on the other games, taking his totals to a loss of $6,300 so far leading up to the Sweet 16.
Looking ahead to the Sweet 16… Clemson is +240, San Diego State is +425, Alabama is +150, Illinois is +110, NC State is +225, Gonzaga is +180, Duke is +150, and Creighton is +130 (according to odds here in Florida). Anything could happen at this point, right?