Investing Lessons from Betting on the NCAA Tournament

I know diddly about basketball, but from an investing point of view I enjoyed a piece in the excellent new Play Magazine on lessons from betting on the NCAA tournament. Here are four key points:

  • Ignore “seeding” trends: Once they have been announced, they have no relevance
  • Stop watching games:”The best handicappers are people who don’t watch games at all”
  • Listen to Vegas: Sports book odds beat every other system
  • Be selectively contrarian: Play it straight mostly, but perhaps pick an unconventional champion

[via NY Times/Play]