One of the most fun things about betting on March Madness is that every single game matters — a lesson that was reinforced with resounding strength on the first day of the 2023 NCAA Men’s Tournament.
The No. 15-seed Princeton Tigers took down the No. 2-seed Arizona Wildcats in a stunning 59-55 win.
Oddsmakers — like most fans and bettors — predicted AZ to come out on top in this one. The Wildcats came into Thursday’s contest as huge 14.5-point betting favorites at FOX Bet. Princeton’s monyeline odds coming into the matchup sat at +600 at FOX Bet. This means bettors who threw some cash on the Tigers to win straight-up got a huge return on their investment.
Arizona was a popular pick among the pundits and at sportsbooks, as the team’s title odds were +1600 at FOX Bet (seventh-lowest odds) coming into the tournament.
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To say that the Tigers are underdogs in this tourney is an understatement. Before the ball tipped on this season’s Madness, Princeton’s odds to win it all were +50000 at FOX Bet. A $10 bet on the Tigers with those insurmountable odds could win bettors $5,010 if they somehow manage to go all the way.
Per FOX Sports Research, a 14-plus point favorite has lost straight up 12 times since 1985, and all 12 instances occurred in the Round of 64. With Arizona closing as a 14.5-point favorite at FOX Bet, this loss is tied as the 10th-biggest upset in NCAA Tournament history by the spread.
Arizona has now had this happen twice since 1985, joining Iowa State as the only programs to lose as 14-point favorites more than once in that span.
When it comes to Princeton, this is the team’s first tournament win since 1998. This is also the first tournament win by an Ivy League team since Yale defeated Baylor in 2016.
Stay tuned to this space for more crazy upsets and bad beats!
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