bettingroundup040317 Betting roundup

March Madness sets record betting handle; ESPN writes about KenPom’s market influence

Twice weekly, we’ll comb through as many articles, tweets and podcasts as we can find related to the world of sports betting and daily fantasy sports, and publish the good stuff here. 

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North Carolina defeated Gonzaga 71-65 to win the 2017 National Championship. This year’s NCAA tournament drew a record betting handle at William Hill in Nevada.

ESPN Chalk published an article about the “profound” influence KenPom has on the college basketball betting market.

The regular-season college basketball betting market arguably has the highest overall betting acumen of any sport. And Pomeroy’s projections, both margin of victory and total points, often line up closely with the numbers posted in that sharp-infested college basketball betting market. It’s something he humbly accepts as a compliment, reinforcement from a billion-dollar market about the accuracy of his work.

“If you go down the line when you look at opening numbers, it’s very rare you see a difference of more than a possession or so from his number,” said Matt Lindeman, a sports bettor, who spent several years contributing to the oddsmaking process at Las Vegas sportsbook operator CG Technology. “That’s not to say he’s always right and the numbers always move toward his — they don’t — but in general, you won’t find a public source of info that is more accurate on a consistent basis.”

Now, of course, Pomeroy’s projections don’t always match the betting markets exactly, as Lindeman noted. For example, his formula had Saint Mary’s picked to beat Arizona in the second round of the NCAA tournament, while the Wildcats were as much as 5-point favorites in Las Vegas. Arizona won 69-60.

“His stuff is great,” Salmons said, “but the market is still better.”

According to court documents, Phil Mickelson paid a $1.9 million gambling debt to Billy Walters in 2012.

According to transcripts of Thursday’s proceedings, the prosecution told the court that an independent business management firm, if called to testify, would say Mickelson was a client and that “records show that in July 2012 Mickelson owed a debt to William T. Walters, the defendant, related to sports gambling.” The prosecution added that on Sept. 19, 2012, Mickelson “transferred $1,950,000” to Walters.

A sports bettor lost $18,000 on a -6000 moneyline bet on the UConn women’s basketball team in the Final Four. UConn lost to Mississippi State 66-64 in overtime.

What an amazing performance by the Mississippi State women’s basketball team. U Conn had won 111 straight games leading up to this Final Four matchup, but they were sent home one round before the championship game. With the stakes being so high, many people around the country had betting action on the game.

When you have a team that is as consistently dominant as U Conn, betting odds become somewhat ridiculous. Last night if you wanted to bet on the Huskies to win the game, you would’ve had to bet $6,000 to win $100. You’re probably thinking, “who in their right mind would ever risk that much money for $100?”

Answer: This guy

The NCAA won’t allow Las Vegas to host any postseason events anytime soon.

NCAA president Mark Emmert said as much Thursday when he announced that a bid from Las Vegas Events for three championships — men’s basketball, men’s ice hockey and wrestling — would not be considered for the upcoming cycle of awarding sites for championships when the Board of Governors meets April 25.

“The board has been having active discussions on that issue,” Emmert said.“They have not changed the policy yet. And they won’t be able to do so for this round of bidding.

“I’ve communicated this to some of the leadership in Las Vegas. Whether or not the board changes its mind before the next round, I can’t say. Obviously, there’s a lot of collegiate athletic events going on in Nevada, both regular season and tournament events and the board’s acutely aware of that and they’ll be considering it. Just not for this current bidding round.”

A column written by bipartisan Michigan state representatives was published touting their pro-sports betting stance.

Michigan’s population is roughly half the size of New York’s, so it is reasonable to estimate $300 million to $500 million of extra revenue here each year. These funds could be specifically directed toward our municipalities and the crucial services they provide. It is money that can be put back into our schools, our roads, and our infrastructure.

Sports betting is already happening in Michigan — people are just doing it through illegal bookmakers. Right now, the only people benefiting from sports betting in Michigan are criminals. Regulating sports betting would ensure that it is safe while also capturing additional revenue. Further, this issue is not only about increasing revenue and protecting citizens, it will also grow our state. Allowing sports gaming would undoubtedly increase tourism. Restaurants, visitor attractions, shopping areas and more could draw a broadened clientele, which will grow the economy and increase job opportunities.