I can’t say I wasn’t warned.
On Tuesday, sportsbooks beat the underdogs by watching the Virginia Cavaliers get upset by the Colorado State Rams in the first four games of the NCAA Tournament.
Virginia Moneyline +110 was the most popular bet of the day at Bet MGM Sportsbook. Bettors were praying that the Cavaliers could get past the Rams with a strong ACC schedule.
The Cavaliers received 79 percent of the money line handle, but the line continued to move in the opposite direction, leading to some speculation that the Rams were receiving heavy action.
It’s a story we’ve heard many times before, but Virginia performed poorly on the biggest stage of the March Madness tournament, losing in embarrassing fashion in its first game.
The Wagner vs. Howard game could see a less dramatic public loss, as the Bison were slightly public favorites on Tuesday.
64 percent of the spread money went to Howard-3.5, and the game was completely lost 71-68.
Moneyline’s love for Howard wasn’t on the same planet as what Virginia received from regular bettors, but it still received 61 percent of its funds in moneyline bets.
These two losses are a brutal start for the gambling community, and I hope this isn’t a harbinger of things to come.
But if you read Post-Action Betting’s Tanner McGrath, he accurately predicted both winners and explains why Virginia didn’t need to be in the tournament.
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Virginia, which was leading 18-14 with more than nine minutes remaining in the first half, was unable to score any additional points in the second half, and fell behind 27-14 at halftime, suffering a crushing defeat.
More First Four games will be played on Wednesday, with Montana State taking on Grambling State and Colorado State picking up points against Boise State.
