Saint Peter’s is not only turning into the nation’s darling, the school’s new found fans are putting their money where their hearts are.
The small New Jersey school, that against all odds has made it to the Elite Eight as a No. 15 seed, has received so many bets to win the national title that the Peacocks are now the third-most bet on team to win it all at BetMGM, among the remaining the remaining teams.
Saint Peter’s opened the Round of 64 at the sportsbook at 3000-1. How much of a long shot did that make them?
There were only three schools that were a bigger long shot: Wright State, Texas Southern and Cal State Fullerton were 5000-1.
To put this in perspective, the biggest longshot to win a tournament since seeding began in 1979 was Kansas in 1988. They started the tournament at 20-1.
After watching Saint Peter’s beat Purdue on Friday night, BetMGM shortened the Peacock's odds to 30-1.
At FanDuel, the longer odds on Saint Peter’s after their win definitely drew in some bettors finding value in the sportsbook’s 55-1 number.
Since the Elite Eight was set, 45% of the bets that have come in on the national title market at FanDuel has been on the Peacocks, ahead of bets placed on Duke and their opponent on Sunday, North Carolina.
Three big bets are known to have been placed on Saint Peter’s. BetMGM took a $4,000 bet that would pay $800,000 and Caesars took a $2,000 bet that will pay $400,000.
One bettor who put $50 on Saint Peter’s at 100-1 has posted his ticket on PropSwap and is looking for offers. Based on current odds, the ticket is at least worth $1,600.
