The NCAA March Madness is the time when people gamble. It is also the time of unexpected wins. In fact, if you are going to have a goal to win some money, then this is your chance to do so. In fact, just for you to have an idea how much money is being funneled through gambling during this time of the year, it’s actually worth $10 billion. However, only a small percentage goes to legal betting channels.
A Cinderella Story
Everyone loves an underdog story. However, for bettors, it is important to be realistic if you don’t want to lose your money. But March Madness is all about upsets and unpredictability. Those who placed long shot bets on the Loyola Ramblers may not have expected that they could actually earn a huge amount of money from their bets. Loyola was able to beat Kansas State with a 16 point victory advancing to the Final Four of the NCAA Tournament.
Right before the tourney, Loyola’s odds were at 300 to 1. For gamblers, it simply means that you don’t want to bet your money on them. Nevada’s largest sportsbook operator, William Hill, only had 32 bets on Loyola. But for those who risked their money on the underdog, March Madness can sometimes be rewarding. The biggest wager was $150. It turned out that the largest wager was able to win $45,000. The second largest wager of $100 was able to win $30,000.
From Underdog to Final Four
As Loyola won against Kansas State last Saturday, the Chicago skyline lit up with the university’s colors of maroon and gold. The team returned Sunday to Gentile Arena on Loyola’s Rogers Park Campus and received a hero’s welcome from their fans and students.
Loyola student Andres Martinez said that “I called it, you can ask any of my friends, I predicted this”.
Now, Ramblers gear is in demand. Also, fans scramble towards finding tickets to San Antonio for their game up against the Michigan Wolverines. Loyola student Sam Flores said that “I’m going to San Antonio. My dad sent me a screenshot of my plane ticket five minutes before the game was over last night, and me him and my sister are going”.
During the start of the tournament, Ramblers entered Sweet 16 with 60 to 1 odds. This however changed when they were able to with against Nevada by one point.
If they are able to win the championship, this is clearly one of the biggest upsets in March Madness history. However, should you be betting on Ramblers again? The road towards the championship may not be easy. Ramblers will have to take on Michigan next week to win a championship spot.
Just how big of a deal is Ramblers headed towards the Final Four? Even Barack Obama voiced his support to the Chicago team headed to the Final Four. He said in a tweet that “Incredible to have a Chicago team in the Final Four. I’ll take that over an intact bracket any day! Congratulations to everybody @LoyolaChicago- let’s keep it going!”