- The strategy of betting on every underdog every game of March Madness has proven to be a major success for the second year in a row, mainly due to Princeton and Fairleigh Dickinson.
- Through the first two rounds, betting $100 on each underdog has netted $970 in profit.
In the first four games of the Sweet 16, two underdogs won adding another $90 in profit.
NEW YORK – A recent strategy popularized on social media has proven to once again be a profitable venture. The strategy consists of betting on every underdog in March Madness. At $100 for each bet, the idea that a few big upsets would make up for any favorites that won.
Winning a total of $1060 (10.6 units), the strategy has so far worked phenomenally against online betting sites.
Why the Strategy Works and its Future Use
Essentially, the underdog betting strategy works because of the big odds that the lowest seeded teams get. Oftentimes, it only takes one or two of the bottom four seeded teams to make a big profit.
This was of course the case this year with Princeton cashing in on +750 odds in round one and +210 in round two. While that was good enough on its own for a huge $960, the real hero was Fairleigh Dickinson, who had +1800 odds at college basketball sportsbooks to beat Purdue.
While only eight underdogs won in the first round, it was still enough to finish up $1010 in day one. Round two was not nearly as profitable though with only five underdogs winning, finishing the round down $40 for a grand total of $970 profit.
In recent years we have seen an increase of lower seeded teams pulling off upsets. The most likely scenario for this trend is simply that there are more talented players on more teams.
Combine this with the general inconsistency that many of the college teams find themselves struggling with as a result of the massive pressure put on them by oddsmakers and social media alike, and it is likely that this strategy will become one of the more consistently profitable ones during March Madness betting.
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The Strategy Moving Forward
In Friday’s Sweet 16 games, many of the underdog odds are around +200, meaning it would require two underdogs to profit on the day (or just Princeton winning at +425 odds).
But if all four teams lose, looking at the entirety of the tournament has bettors up 6.6 units heading into the Elite Eight. Assuming all favorites win, the 6.6 units puts bettors needing one or two more upsets still to occur through the seven games left after Friday’s matchups.
The college basketball tournament odds are just to shorten for longshots, though. Take the first two Elite Eight matchups, which have Florida Atlantic (+110) and Gonzaga (+115) as only mild dogs.
Jeremias began writing 4 years ago after beginning his career at Florida State University. He mainly focuses on using analytics and statistics to educate readers on trends and discoveries to get a leg up on sportsbooks. He mainly focuses on NFL, NHL, and NBA. During his free time, you can find him researching, writing, and betting on various sports.