With Selection Sunday less than a week away, Colorado basketball futures are close to being set for the season. A big reason why they may not move much more is because sportsbooks haven’t seen a lot of action on the Buffaloes or Rams.
One future Colorado sportsbook operator took a significant bet on Colorado to win the NCAA tournament. Action on Colorado State, however, has been minimal.
Slim action on Colorado basketball futures
One bettor took advantage of PointsBet’s long odds on the Buffs last year. The sportsbook says it took a wager of an undisclosed sum at +10000 on Dec. 1.
PointsBet also says that the market for the Rams has been very sparse. Colorado State is +50000 to win the NCAA tournament at that sportsbook right now.
The Buffs currently sit at +6600 to do the same. That means the PointsBet bettor was wise to place his or her bet when he or she did, as it will be a much better payout if Colorado cooperates.
Outside of that wager, however, it doesn’t appear that PointsBet has seen much action on the Buffs as far as futures go. That is likely due to a few factors.
Why PointsBet isn’t seeing a lot of action on Colorado’s teams
First and foremost, there are probably some local biases at work. As PointsBet isn’t actually accepting wagers in the Centennial State yet, bettors in other states like Indiana and New Jersey are likely wagering heavier on teams more local to them.
PointsBet will eventually start taking bets in Colorado, however, as it has already received licensure. The earliest that could happen is May 1.
Another factor influencing this market is the perception of the Pac-12 this season. There is only one team from the conference in Joe Lunardi’s overall top 16 seeds, for example.
The Buffs aren’t that team. It’s Oregon, which won the Pac-12 regular-season title and will be the top seed in the upcoming conference tournament.
Colorado is a projected seven seed on Lunardi’s current bracket. At the same time, he doesn’t have the Rams on a line anywhere.
Colorado State likely needed a deep run in the Mountain West Conference tournament last week but wasn’t able to complete that, losing its second game in the event. Despite 20 wins, the Rams may have to settle for an NIT berth this season.
If Colorado can reach the Pac-12 tournament final and perhaps defeat Oregon in that game, it might enter the conversation for a top-16 seed. That would also shorten its future odds and could prompt more investment from bettors nationwide.
For Buffs fans in states with legal sports betting live now, this represents an opportunity. Like the bettor who put down some money last December, Colorado makes an interesting case for an opportunity for differentiation.
The case for the Buffaloes in March Madness
Colorado enters the Pac-12 tournament on a four-game losing streak, which is hardly confidence-inspiring. The conference tourney represents an opportunity to turn that narrative around completely, however.
The Buffs have a very realistic path to the Pac-12 tournament championship game. Standing in their way are Washington State, likely Arizona State and probably UCLA.
Colorado went 3-2 during the regular season against those teams, with both losses coming at the hands of UCLA. If the Buffs can overcome the Bruins in a potential third matchup this season, a shot at the championship is assured.
That may be enough to set the Buffs up with an easier path in the more important tournament days later. Right now Lunardi has them in line to face San Diego State in a potential Round of 32 game.
While that may shorten the current +6600 odds, it should also inspire confidence in putting some money down on Colorado. Even just a $10 wager at +5000 odds would be a great day for some bettors.
How far Colorado goes in the conference and national tournaments remains to be seen. Bettors don’t have a lot of confidence in the Buffaloes in terms of the NCAA tourney, which means they could be a great way to set your strategy apart from the crowd.