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March Madness 3-way betting open at BetOnline

Posted by Dave Mason on 3/14/2011 6:59:42 PM

FACT: people love 3-ways… 3-way betting that is.

Partially inspired by 3-way soccer money lines, betonline.com is offering 3-way props for the NCAA Basketball Tournament. Although they opened just a few hours ago, they are already getting tons of action.

How do these work? Two teams are matched up and the bettor simply backs the team he thinks will advance farther in the tournament. But, they also have the choice to bet on the third option: the teams will be knocked out in the same round (Tie).

Using the early numbers as an indicator, BetOnline’s players don’t see much value in the ‘Tie’ option, but are pounding the team options. “This isn’t surprising, we saw a similar phenomenon when new soccer bettors were betting on the 3-way World Cup lines. For whatever reason they prefer to bet a team to win ‘outright’ rather than the ‘tie’”, stated BetOnline sports book manager Dave Mason.

“The betting world needs a new way to bet on March Madness, the same old props everyone are offering gets stale. These are new and unique to BetOnline and using the early bettors as a gauge, they are a big hit.”

Here’s a look at a few of the 32 match ups offered under ‘Basketball NCAA Survival’ under ‘Futures & Props’ in the Bet Menu.

Team to advance farther:

Duke -110
Pittsburgh +195
Tie (Eliminated same round) +300

Coming off another ACC Tournament championship, Duke is primed for another deep run. Jamie Dixon’s Pitt squad is long overdue for a Final Four berth. The early bettors are pounding Duke (opened at +120), but you have to think the Panthers at almost 2-1 is good value.

Ohio State +150
Kansas +135
Tie (Eliminated same round) +250

These are the two best teams in the tournament and it’s hard to imagine both of them getting knocked out before the Final Four. Therefore the ‘Tie’ loses some value. Ohio State has the most we-rounded team in the tournament and is the consensus top team in the land; +150 seems intriguing.

To check out the other 30 Survival match-ups at betonline.com, look under the ‘Basketball NCAA Survival’ under ‘Futures & Props’ in the Bet Menu.

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