NCAA Tournament gambling: Few bet on Loyola-Chicago, but they could be paid out huge

The only thing better than a Cinderella story is cashing in on a Cinderella story. 

Those who placed long shot bets on the Loyola (Chicago) are pretty close to doing just that, as the Ramblers took down Kansas State with a 16-point victory on Saturday night. The win advanced Loyola to the Final Four of the NCAA Tournament -- a fate not many envisioned for the 11th seed.

However, this is March, and anything can happen in March. Loyola has busted a lot of brackets, but they could also bring a big payday for those that showed faith.

Before the tourney, Loyola had 300-to-1 odds to win it all. Nevada's largest sportsbook operator, William Hill, only took 32 bets on the Ramblers at that price. The biggest wager was $150 to win $45,000. The second biggest was $100 to win $30,000. 

After an unexpected hot start to the tournament, the Ramblers entered the Sweet 16 with 60-to-1 odds before squeaking by Nevada with a one-point victory.

If they're able to go all the way, it would be one of the biggest upsets and tournament surprises in the history of March Madness. That road to complete the job won't be easy, though, as the Ramblers will take on Michigan next week with a spot in the championship on the line.

Pete Blackburn is from Boston, so there's a good chance you don't like him already. He has been a writer at CBS Sports since 2017 and usually aims to take a humorous and light-hearted approach to the often... Full Bio

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