The Oakland Golden Grizzlies’ win saved the bookies millions of dollars.
On Tuesday, Post-Action Betting reported extremely strong betting interest from the public and sharps alike on the Kentucky Wildcats.
But Kentucky’s shocking loss to Oakland on Thursday saved the books, with more than 77 percent handle (total money bet on a market) liability on the Wildcats to make the Final Four at +700 odds at DraftKings.
Similar interest was found on Kentucky (25/1) to win the entire tournament, with 56 percent of the handle on John Calipari’s group.
Liability on these two markets was massive, given that these are two very popular markets every year and the odds were higher than most other teams garnering similar interest in the market.
Kentucky’s loss was a huge win for the sportsbooks in the single-game aspect as well, with DraftKings reporting the Wildcats were the second-most popular against the spread bet of the day Thursday.
On BetMGM, 75 percent of the money was on Kentucky to win -7.5 against Oakland.
Oakland’s star guard, Jack Gohlke, led the way with 10 3-pointers in the 80-76 triumph, scoring 32 points on 10-of-20 shooting from beyond the arc.
Kentucky was burned by its porous defense, a season-long issue.
The Golden Grizzlies hit an astounding 15-of-31 3-point attempts.
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“He had no conscience. We talked all week, just go shoot it baby, you’re the best,” Golden Grizzlies head coach Greg Kampe said after the win. “And he’s the best and he proved it to the world tonight.”
Gohlke’s sharp shooting saved the bookies millions, but it might also cost Calipari millions.
Kentucky has a $33 million dilemma on its hands as it figures out whether Calipari will remain the coach after another shockingly disappointing ending.
This upset also played a large role in why there are so few perfect brackets left heading into Friday.
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