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Post Date: March 23, 20,24, 11h16h
Last updated on: March 23, 20,24, 11:16h
It’s the NCAA’s busiest time of the year, as its men’s and women’s college basketball tournaments — aka March Madness — are in full swing. In conjunction with heavily bet hoops matches, the governing body for collegiate sports launched a new responsible betting campaign.
The initiative, “Draw the Line,” aims to educate students on sports betting. The campaign launched on social networks this week, during the March Madness tournaments.
“Draw the Line”, a toolkit aimed at college and university students, provides resources for those who are seeking help.
The American Gaming Association is expecting the March Madness brackets of 2024 to attract a total of 80,000 players. Over $2.7 Billion in legal betsMany of these will be placed by students. A study by the NCAA found that 67% of 18 to 22-year olds live on college campuses Bet on sports, whether legal or illegally.
Sports betting is everywhere — especially on college campuses — so it’s critical student-athletes get the real story about how it can impact them,” said NCAA President Charlie Baker.
Baker is Supporting legal support The NCAA has regulated sports betting, but has also campaigned to strengthen student-athlete protections such as prohibiting oddsmakers offering prop bets based on a player’s performance.
“We know that some bettors harass student-athletes. That’s why we advocate for policy changes at the State level and launch monitoring tools around championships in order to refer serious threats towards law enforcement.” Baker said that the NCAA is doing everything possible to protect the integrity and fairness of the game, as well as arm student-athletes about sports betting.
Portnoy Bets big
Barstool Sports’ founder Dave Portnoy placed a large wager on the March Madness men’s tournament, despite having a bankroll that would allow him to comfortably do so. The social media personality and businessman revealed on X this week that he is betting $600,000 on the University of Connecticut cutting down the nets in State Farm Stadium near Phoenix.
Portnoy bet $600,000 to win the NCAA championship for the second consecutive year. If the Huskies succeed, it will be the ninth time that a program has won the natty consecutively. Portnoy will earn $2.76million.
The businessman, whose Barstool was sold to Penn Entertainment for over $500 million, only to be bought back by Penn Entertainment for just $1, after Penn experienced regulatory concerns due Portnoy, admitted that the large wager should probably have had a bigger return.
+360 is a good bet but not a great one. Portnoy replied, “Yes, I’m worried that everyone is picking them.”
Portnoy made the wager with DraftKings. Penn folded its Barstool Sportsbook and opted to use the ESPN The brand of its sports betting operation in a Deal worth $1.5 Billion.
Portnoy has also bet $25,000 that the New Mexico Lobos, a longshot, will win it all. The bet would earn $575,000 in the unlikely event that it happens.
Brackets are busted
Portnoy’s not the only person who believes the Huskies will be the team to beat. ESPN’s Tournament Challenge reported that UConn is a top contender in nearly 25% of brackets.
No brackets are perfect after the first round of the men’s bracket. Upsets by OaklandYale, Grand Canyon James Madison Duquesne, Colorado and Grand Canyon rendered all brackets unreliable.
Mathematicians claim that the odds are one in 9.2 quintillion for someone to complete a perfect bracket.
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