Sportsbooks report strong performance during NCAA tournament

Sportsbooks have reported strong results during the first four days of the 2025 NCAA tournament, despite a tough Sunday for some. The top four seeds won all their games, making it a favorable start for bettors who placed moneyline parlay bets on favorites. In the opening rounds, only two lower-seeded teams were favorites. This was a significant drop from last year when eight lower seeds had that status. In the Sweet 16, no lower-seeded teams are favored. The Round of 32 did feature some exciting games, with favorites winning 11 of 16 matches but only covering the spread in seven. Key upsets included No. 10 Arkansas defeating No. 2 St. John’s and No. 8 UConn covering against No. 1 Florida, which were important for the sportsbooks. However, the game between UConn and Florida had a dramatic ending when UConn scored a late three-pointer, impacting the betting over/under. Despite a few tough losses, like No. 2 Michigan State's comeback win over No. 10 New Mexico hurting the sportsbooks, the overall outcome from the tournament's first two rounds has been positive for betting houses. The favorites winning on Sunday did lead to some disappointing results for sportsbooks. One notable bet was a $310,000 wager on No. 1 Auburn to beat No. 16 Alabama State. Auburn won, but bettors were nervous during the game as it was close for most of the first half. Another popular underdog was the No. 11 Drake Bulldogs, who won outright against No. 6 Missouri. Looking ahead, sportsbooks are now monitoring bets on Duke, which has drawn considerable interest to win the national championship. Overall, favorites have a record of 36-12 so far in the tournament, with a mix of notable upsets and demanding betting moments.