March Madness Sports Betting: Gambler Turns 14 Cents Into $1,345 on Seven-Game Parlay
Posted on: April 3, 2019, 10:52h.
Last updated on: April 3, 2019, 10:52h.
A fortunate March Madness parlay bettor turned 14 cents into more than $1,300 on the unlikeliest of scenarios that involved seven games and a total of 14 wagers.
ESPN’s David Purdum – who covers sports betting for the network – broke the story of New Jerseyan Kevin Maselli. The 29-year-old special education teacher who lives in Asbury Park said he often bets change on parlays that have immensely long odds.
Prior to the second round of the NCAA men’s college basketball tournament, Maselli put a dime and four pennies on seven of Saturday’s eight games. He needed Kentucky, Michigan, Florida State, Baylor, Michigan State, Purdue, and Auburn to cover their spreads, and also needed to correctly pick the over/under of each game.
I haven’t really dwelled on that I didn’t put more money on it, because I always put like 10 of these a day and, c’mon, what are the odds of hitting one of these?” Maselli told ESPN. “I mean, c’mon, let’s be honest.”
The odds – according to DraftKings which processed the parlay – were +961169. Fractionally, that looks like 961169/100, and implies a winning chance of 0.01 percent.
When everything went Maselli’s way, the 14-cent wager netted $1,345.64.
Long Odds, Big Wins
March Madness is where dreams are made and broken for college basketball players. But with the expansion of legalized sports betting, it’s also a time where gamblers across the nation can find new fortunes.
Many brackets were busted when Duke lost in the Elite Eight, but Texas Tech’s upset of Gonzaga has kept hope alive for one faithful Red Raiders fan. The Westgate SuperBook in Las Vegas confirms that a person put $1,500 on the team back in November at 200/1 odds to win the National Championship.
If Texas Tech is able to beat Michigan State on Saturday, and then prevail against either Virginia or Auburn in the title game, the ticket slip would net the individual $300,000. The ticket is up for sale online, with the current price at $65,000.
MGM says it took a five-figure bet on Virginia at 12/1. Even if it’s the minimum $10,000, the ticket would net $120,000. FanDuel says it took a $25,00 wager on the Cavaliers at +750 that would net $187,500.
D Casino owner Derek Stevens is short $100,000 after a four-team wager on either Duke, Gonzaga, Michigan, or Kansas winning the championship busted.
Final Four Matchups
Saturday will see the final four teams compete in Minneapolis for a ticket to the National Championship, which will be played on April 8.
No. 5 Auburn will face the only remaining No. 1 seed with Virginia at 6:09 pm ET. UVA is spotting the underdog Tigers 5.5 points. The nightcap pits No. 3 Texas Tech against No. 2 Michigan State. The Spartans are favored by 2.5 points.
ESPN Stats & Info reveals that just 7,928 out of 17.2 million brackets completed on the media outlet’s Tournament Challenge correctly predicted the Final Four teams.
As for cutting down nets on Monday night, the Las Vegas odds have Virginia the favorite at +150, then it’s Michigan State (+180), Texas Tech (+400), and Auburn the longest at +600.
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