Kentucky loss to Oakland huge win for sportsbooks: 'A monumental result for us'

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Kentucky loss to Oakland huge win for sportsbooks: 'A monumental result for us'
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'Kentucky by far was our biggest futures liability.' Patrick Everson spoke to oddsmakers about the huge betting implications of Oakland stunning Kentucky in the opening round of the Men's tournament.

As its name suggests, TwinSpires Sportsbook does a significant chunk of its business in Kentucky. So, the book takes a lot of action on the Kentucky Wildcats, particularly for March Madness odds, and specifically to win the national championship. So when No. 3 seed Kentucky bowed out in Thursday’s first round – a shocking 80-76 upset loss to No. 14 seed Oakland – the TwinSpires risk room got a big boost. 'A monumental result for us.

'We lose on the moneyline, but this erases a lot of liability for our futures.' It’s a trade Magee is happy to make. Oakland moneyline was a winner for BetMGM customers. The Bears were 12.5-point underdogs on the spread and a correspondingly hefty +775 on the moneyline. That meant a $100 bet on Oakland to win outright would net $775 profit, for an $875 total payout. At BetMGM, the Bears took 92% of moneyline bets and 72% of moneyline dollars vs. Kentucky.

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