Casinos and Gaming

Syracuse's wild run may mean big bucks for bettors

$9B bet on NCAA Tournament

For Daniel DaSilva, the already tense twists of March Madness have proved even more gut-wrenching.

In February, the 36-year-old Las Vegas resident placed two $200 wagers on long-shot Syracuse to win the NCAA men's basketball championship. Syracuse snuck into the tournament as a 10th seed, only to win four straight games and reach the national semifinal.

If the Orange pulls out two more victories on Saturday and Monday, DaSilva stands to make a windfall. The tickets, at 300-to-1 odds and 250-to-1 odds, respectively, would pay out a profit of about $110,000.

Syracuse players celebrate after defeating the Virginia Cavaliers in the championship game of the Midwest Regional of the NCAA Tournament in Chicago, March 27, 2016.
Dennis Wierzbicki | USA TODAY Sports | Reuters

Of course, DaSilva would need even more improbable outcomes to make that sum. Syracuse is a 9-point underdog in its Final Four game against North Carolina on Saturday, according to sports book William Hill, where DaSilva placed one of his bets.

"It'll be exciting, regardless. I at least want them to make a fight of it," he said of the game.

DaSilva said he made six $200 bets on teams to win the title, for a total of $1,200. Four of those teams have been eliminated, but he could still make a profit if Syracuse or Villanova win the championship.

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While he faces the prospect, though unlikely, of making a huge haul, others who bet on individual Syracuse games would have made nice profits on the team's unlikely run. If a bettor placed $100 on the money line in each of the team's four tournament games so far, the individual would have made $634.37 in profit, based on William Hill's lines.

The biggest boost would have come from Syracuse's upset of 1 seed Virginia, which featured a comeback from a double-digit second half deficit.

Here's how the money lines break down:

DISCLOSURE: The reporter is a Syracuse alum but has not bet on the Final Four.