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NCAA March Madness betting: $306K Loyola bet loses as Oregon State's remarkable ATS run continues

Sam Cooper
·2-min read

After Loyola Chicago put forth a tremendous performance to upset No. 1 seed Illinois in the second round of the NCAA tournament, it was easy to want to back the Ramblers in the Sweet 16 against Oregon State.

One BetMGM customer did so in a big way, wagering $306,000 on Loyola Chicago -6 against OSU on Saturday. The Ramblers were favored by either 6.5 or 7 throughout the week, and this bettor decided to buy half a point and take Loyola at -120 odds.

The bet would have won $255,000, but it ended up not being close.

Oregon State baffled the Loyola offense with a relentless zone defense and pulled off a 65-58 upset. The Ramblers had plenty of open shots, but just could not get anything going offensively. They shot just 33.3% from the field, hitting 5-of-23 shots from beyond the arc.

Oregon State, meanwhile, was able to do just enough to maintain a lead throughout the second half. Following a cold start, the Beavers led 24-16 at halftime and kept the Ramblers at arm’s length all the way until the end. Ethan Thompson, OSU’s senior leader, led all scorers with 22 points, including a perfect 8-for-8 from the free-throw line, in the win.

Oregon State guard Ethan Thompson celebrates after a Sweet 16 game against Loyola Chicago in the NCAA men's college basketball tournament at Bankers Life Fieldhouse, Saturday, March 27, 2021, in Indianapolis. Oregon State won 65-58. (AP Photo/Jeff Roberson)
Oregon State guard Ethan Thompson celebrates after a Sweet 16 game against Loyola Chicago in the NCAA men's college basketball tournament at Bankers Life Fieldhouse, Saturday, March 27, 2021, in Indianapolis. Oregon State won 65-58. (AP Photo/Jeff Roberson)

Oregon State has been very kind to bettors

Oregon State has been on an unbelievable run against the spread. With Saturday’s win, the Beavers are now 22-9-1 ATS this season with a 16-5 ATS mark as an underdog.

Oregon State has covered the spread in 13 of its last 14 games, and it was an underdog in all but one of those games. The Beavers have also won six consecutive games outright, all as an underdog.

Despite Oregon State’s ATS success, the betting splits for this game were pretty even. At BetMGM, 59% of the tickets and 54% of the money was on Oregon State.

The betting action was more heavily skewed toward the over — 75% of the bets and 68% of the money.

The total closed at 125. When there was a total of 40 points scored in the first half, the over did not have much of a chance. The second-half, though, was much more high-scoring, but the game finished with 123 points — just below the total.

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