OT: March Madness Betting Strategies

[digamma]

I'm curious, with the tourney less than a week away, what others do in terms of betting strategies.

I'm not talking about pool strategies, though I'm up for hearing those as well. I'm more interested in whether people who bet a significant number of games use any sort of blanket strategies. In general I don't usually use blanket type strategies, but have some buddies who swear by them.

I seem to remember reading a column on espn.com or sportsline or some similar site, where a guy tracked his progress of betting all underdogs against the spread for the first and second rounds. I can't remember what his results were and I can't find the article today.

Here are some strategies I'm pondering for my annual trek to Vegas for the ritual that is March Madness:

1. Bet the underdogs ATS in the first half.

2. Bet the underdogs ATS in the game.

3. Bet the favorites in the second half ATS.

4. Bet the favorites ATS in the game.

5. Bet the underdogs on the money line.

6. Restrict my betting to only a few choice games that I feel I know something about--and bet larger in these games than if I were to bet a lot of games.

Anyone have any systems, thoughts, or web literature on any of this?

[bosshogg23]

Bet the underdogs in the 7-10 game and the 8-9 game. Those are the only ones I bet and have won a few dollars over the years. I am wayyyyy too nervous a gambler to bet alot, so I only try to cover my entry fees for the tourney brackets.

[Neuqua]

It's usually safe to bet the underdog in all the 5-12 games.. Every year one #12 pulls the upset and that win alone should make up the money you spent and then some.

Neuqua

[digamma]

Anyone in the week day crowd have any thoughts?

I like the 5-12 strategy.
I may look at the money lines in those games, particularly given some of the match-ups this year.

[B & B]

+160
+190
+260
+300

Are the ML's on the four 12 seeds, meaning that only if the longest of longshots won outright you would break even if only ONE of the 12 seed's upset a 5.

If two hit you would be up a nice chunk though.

There is no secret or magical formula to making money consistantly on the tournament. I have some futures bets I placed months ago when the lines first came out which are still very risky unless those teams make it far enough to warrant hedging. Ive also lost money already on some of those teams that didnt make it in (Texas Tech for example)

As for Vegas, always seem to have a great time when Im out there. Wouldnt mind taking a couple weeks off to go for the first and second round games.