Barstool Sports owner Dave Portnoy has disclosed having made a huge bet for this year’s March Madness tournament.
Portnoy has a whopping $600K riding on UConn as he hopes that, as many predict, they will repeat their capture of the NCAA Title.
The UConn Huskies are the defending champions following their successful campaign in 2023 and would be the first back-to-back champs since the 2006-2007 Florida Gators if they won again. Meanwhile, Portnoy stands to rake in $2.16 million if they pull through after taking up +360 odds with DraftKings Sportsbook.
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The Huskies entered the NCAA Tournament as the No. 1 seed and have been placed in a tough bracket featuring FAU, San Diego State, Auburn, Iowa State, and Illinois.
FAU and San Diego State both made the Final Four last season while Auburn, Illinois, and Iowa State have attracted impressive ratings on KenPom.
Still, Portnoy isn’t concerned, though he did admit being worried because everyone was picking UConn.
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“I have made a large bet,” he tweeted this week. “I really don’t think there is anybody who can play with UConn. Like +360 is not great odds but at the same time great odds. Yes I am worried that everybody is picking them.”
The Huskies have gotten the most traction on ESPN’s Tournament Challenge as 24.7 percent of the fans who made picks have them down to win it all.
Dave Portnoy Took A Long Shot On An Underdog
Dave Portnoy has made a second bet, taking a long shot on the New Mexico Lobos to win the West Region. The 22/1 odds would see him turn his $25K wager into $575K if they conquer said region.
New Mexico comes in as a No.11 seed and will play the No. 6 Clemson Tigers this Friday afternoon. They are currently 2.5-point favorites.
They will face the winner of today’s match between Baylor and Colgate should they go through the first round.
The Huskies are also in action today as they’re set to kick off their title defense agains the Stetson Hatters.
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