Underdogs and Upsets: Hidden Gems in March Madness Betting
Introduction March Madness is one of the most exciting times of the year for sports bettors. The NCAA Tournament

Introduction
March Madness is one of the most exciting times of the year for sports bettors. The NCAA Tournament is known for its unpredictability, with underdogs frequently pulling off shocking upsets. Bettors who understand the dynamics behind these surprise victories can capitalize on favorable odds and maximize their profits.
This guide explores why underdogs thrive in March Madness, the key factors that contribute to upsets, and the best strategies for identifying valuable bets.
Why Underdogs Succeed in March Madness
1. Tournament Format and High-Pressure Games
Unlike the NBA, where teams play a seven-game series, March Madness is a single-elimination tournament. This format increases the likelihood of upsets because one off-night from a higher seed can end their championship dreams.
Additionally, lower-seeded teams enter the tournament with nothing to lose. The pressure is entirely on the favorites, leading to tense moments that can swing games in unexpected ways.
2. Overlooked Mid-Major Teams
Each year, mid-major schools from conferences like the Missouri Valley, Atlantic 10, and Mountain West upset major programs. These teams often have experienced rosters, disciplined coaching, and strong chemistry—qualities that help them compete against high-profile programs that rely on freshmen superstars.
3. Betting Market Inefficiencies
Casual bettors tend to favor big-name schools, leading to inflated point spreads. This bias creates value opportunities for underdogs, where the spread is larger than it should be. Sharp bettors recognize this and take advantage of mispriced lines.
4. Three-Point Shooting and Defensive Efficiency
Teams that rely on three-pointers have a higher variance in performance. If an underdog catches fire from beyond the arc, they can take down a higher seed. Conversely, elite defensive teams can slow the pace of the game and force mistakes, keeping them competitive against more talented opponents.
Key Indicators of Potential Upsets
1. Experienced Guards
March Madness is a guard-dominated tournament. Teams with veteran backcourts tend to perform well under pressure, limiting turnovers and controlling the pace of play. If an underdog has strong, experienced guards, they have a better chance of competing with higher-seeded teams.
2. Free Throw Shooting
Close games in the tournament often come down to free throws in the final minutes. Underdogs who excel from the foul line can close out games effectively, making them a valuable betting option.
3. Teams with Elite Defense
While high-scoring offenses get the spotlight, defensive efficiency is a critical factor in pulling off upsets. Teams that can disrupt the opponent’s rhythm and force turnovers often outperform expectations.
4. Pace of Play
Slower-paced teams tend to keep games close, which benefits underdogs playing against fast-paced favorites. If a lower-seeded team can control the tempo and limit possessions, they increase their chances of an upset.
Betting Strategies for March Madness Underdogs
1. Betting the Moneyline on Live Dogs
Instead of taking the spread, betting on the moneyline offers higher payouts. This strategy is especially effective for mid-major teams with favorable matchup advantages.
2. First-Half Bets on Underdogs
Many underdogs start strong but fade in the second half due to depth issues. Betting on the first-half spread can be a profitable way to capitalize on their early energy before the favorite makes adjustments.
3. Finding Inflated Spreads
Public perception inflates lines for top-ranked teams. Bettors should look for underdogs with a strong track record against the spread (ATS), particularly those that have kept games close against elite competition.
4. Identifying Potential Cinderella Teams
Each year, one or more double-digit seeds make a deep tournament run. Researching teams with solid defense, strong guard play, and tournament experience can help identify potential Cinderella stories before the public catches on.
5. Hedge Opportunities in Later Rounds
If you place futures bets on underdogs and they advance, you can hedge by betting against them in later rounds to lock in profits.
Historical Examples of Notable March Madness Upsets
- UMBC (2018) vs. Virginia – The first-ever 16-seed to beat a 1-seed, UMBC shocked the world by defeating Virginia 74-54.
- Oral Roberts (2021) vs. Ohio State – A 15-seed taking down a 2-seed in overtime, proving the importance of elite guard play and three-point shooting.
- Florida Gulf Coast (2013) vs. Georgetown – “Dunk City” electrified the tournament with an up-tempo offense, showing how athletic, high-flying teams can overwhelm traditional powerhouses.
- Loyola-Chicago (2018) vs. Multiple Opponents – As an 11-seed, Loyola-Chicago reached the Final Four, demonstrating the power of elite defense and experienced leadership.
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4. Extensive Betting Markets
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Conclusion
March Madness offers a prime opportunity to profit from underdogs and upsets. By understanding the key factors that lead to surprising victories, bettors can make informed wagers with strong value. Whether it’s betting on moneyline upsets, targeting first-half spreads, or identifying Cinderella teams, there are many ways to gain an edge.
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