Upset-rich March Madness causes mixed results at sportsbooks

“It doesn’t look like a Final Four,” said one sportsbook exec. “It looks like an NIT final.”

LAS VEGAS — A bettor in December placed $500 on Florida Atlantic at 400-1 odds to make the Final Four, costing Westgate Las Vegas $200,000.

That was a clear win for one bettor, but who actually has come out between the sportsbooks and those on the other side of the counter during this most unusual NCAA Tournament is much more murky.

While Westgate absorbed a tough loss, Red Rock Resort in Las Vegas came out in decent shape even as upsets ruled the first two weeks of March

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