Betting Report

After the coronavirus stopped March Madness last year, it’s back and ready for bettors’ brackets and the 2021 NCAA Tournament is ready to begin. With the First Four kicking things off on Thursday, bettors have been quick to place their bets on the first weekend of games and futures picks. Here’s the breakdown of how bettors on BetRivers.com and PlaySugarHouse.com are wagering on the 2021 NCAA Tournament.

The NCAA Tournament is all about underdogs and upsets. The public is currently backing several underdogs to pull off first round upsets, including No. 12 seed Georgetown (+180)with 91% of the ML handle to beat No. 5 seed Colorado, No. 13 seed Winthrop (+215 ML)with 89% of the ML handle to beat No. 4 seed Villanova, No. 13 seed Ohio (+330 ML) with 86% of the ML handle to beat No. 4 seed Virginia, No. 12 UC-Santa Barbara (+235 ML)with 82% of ML handle to beat No. 5 seed Creighton ,and No. 14 seed Colgate (+370 ML)with 76% of the ML to beat No. 3 seed Arkansas.

The most popular game to bet on since the unveiling of the bracket Winthrop vs. VIllanova with 11% of current game bets. The largest current first-round game bet is a $5,500 wager on Arkansas vs. Colgate Over 157.5 points (-108), with a potential payout of $10,615. The NCAA Tournament begins with the First Four opening round on Thursday, March 18.

#16 Appalachian State (-3, -157 ML) vs. #16 Norfolk State (+132 ML). O/U 135.5 #11 Michigan State (-1.5, -124 ML) vs. #11 UCLA (+104 ML). O/U 136 #11 Wichita State (-2, -132 ML) vs. #11 Drake (+112 ML). O/U 139 #16 Texas Southern (-2.5, -143 ML) vs. Mount St. Mary’s (+120 ML). O/U 132.5

No. 1 overall seed Gonzaga (West) enters the tournament as the heavy betting favorite to cut down the nets. The public is backing the undefeated Bulldogs with 23% of championship bets and 36% of the championship handle. Gonzaga has been the heavy favorite all season long, and continues that trend, with the most futures bets since the bracket was unveiled.

The No. 2 seed in Gonzaga’s region is Iowa, backed by the most futures bets and handle of any team not on the No. 1 seed line.

No. 1 seed Michigan (East) is the second-most backed team to win the NCAA Tournament by both bets (9.6%) and handle (10.8%), with No. 1 seed Baylor (South) responsible for 8% of championship bets and 7.9% of championship handle.

No. 4 seed Oklahoma State, led by Cade Cunningham, the likely No. 1 pick in the 2021 NBA Draft, is one of the hottest teams in the country and has received the second-most NCAA Championship bets since the bracket was unveiled, trailing only Gonzaga.

Gonzaga +215 (#1, West) Baylor +250 (#1, South) Illinois +650 (#1, Midwest) Michigan +700 (#1, East) Oklahoma State +1400 (#4, Midwest) Texas +1700 (#3, East) Texas Tech +2000 (#6, South) Ohio State +2000 (#2, South) Kansas +2000 (#3, West) Iowa +2000 (#2, West) Alabama +2000 (#2, East) Florida State +2000 (#4, East)