March Madness Betting Trends: Upsets and Spreads

March Madness has become a major gambling event across the U.S., with sportsbooks tracking trends in upsets and point spreads. Since 2008, 12-seeds are 28-40 against No. 5 seeds, while 11-seeds are nearly .500 in the first round since 2006-favorable odds for savvy bettors.

Johnny Avello, oddsmaker at DraftKings, notes that underdogs like No. 11 South Florida and No. 12 High Point have seen their spreads tighten, reflecting growing confidence in their potential. Meanwhile, higher seeds such as Purdue, Iowa State, and Gonzaga have seen spreads widen as favorites.

Despite occasional shocks-like UMBC’s 2018 upset-betting heavily on 13-16 seeds remains risky. This year, all No. 13 seeds are double-digit favorites, signaling diminished surprise potential.