Las Vegas Sun

March 28, 2024

Sports wagering:

Syracuse’s odds-defying Final Four run could pay off big for longshot bettors

NCAA Tournament Syracuse-Virginia

Charles Rex Arbogast / AP

Syracuse’s Malachi Richardson, center, shoots during the second half of a college basketball game Sunday, March 27, 2016, against Virginia in the regional finals of the NCAA Tournament in Chicago.

Syracuse could become the longest shot to ever win the NCAA Tournament with two more victories on Saturday and Monday at the Final Four in Houston.

Connecticut holds the modern record after overcoming 100-to-1 odds at the beginning of the tournament two years ago, but Syracuse was three times less likely this season, according to the Westgate Las Vegas Superbook. The Orange posted at 300-to-1 at the Superbook after Selection Sunday.

And that was with significant trimming. After starting ACC play 0-4 in January, Syracuse was 1,000-to-1 at the Superbook.

The price lasted less than a week but that was long enough for four bettors to pounce on it, according to Superbook Executive Director Jay Kornegay.

The gamblers could easily lock in a profit by hedging and betting against Syracuse going forward. Otherwise, the odds are against them cashing.

The Superbook currently lists the Orange at 10-to-1 to win the national championship, which equates to an 8 percent chance when adjusting for the house’s hold percentage.

Syracuse is a 9.5-point underdog against North Carolina, which has won both matchups between the teams this season, in the second national semifinal Saturday night and plus-375 (risking $1 to win $3.75) on the money line.

But it’s not as if the Orange haven’t overcome more unlikely scenarios to arrive at this point. Oddsmakers gave them a 2 percent chance at 30-to-1 odds to advance out of the Midwest Region.

The conquest made them the first No. 10 seed to ever reach the Final Four and included overcoming double-digit deficits in each of the last two rounds, against Virginia and Gonzaga. Those unlikely victories already made some Syracuse believers big winners.

Case Keefer can be reached at 702-948-2790 or [email protected]. Follow Case on Twitter at twitter.com/casekeefer.

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