Setting the odds: Inside the Vegas bets on basketball

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Video Summary

Las Vegas is buzzing with excitement as the March Madness tournament kicks off, with over 100 million expected to bet on the brackets. While the games are being played in other cities, Las Vegas is the place to be for fans and gamblers alike. The city's sportsbooks are flooded with activity, with fans eager to make their picks and cheer on their favorite teams. For professionals like Teddy “The Bear” Severance, it's a lucrative opportunity to make a living, but for casual bettors, the excitement is just as high. The two types of bettors are easy to identify – the “squares” who place wagers based on emotion or team loyalty, and the “sharks” like Teddy, who make a living off their expertise. While the professional bettors like the action, others are more concerned with the camaraderie and social aspect of the event. Love it or hate it, March Madness has taken over Las Vegas, with one mayoral candidate stating “It's not even 9 o'clock, and I'm halfway through the tournament. If anyone should lose sleep over the tournament, it's me!” Whether you're a die-hard fan or a savvy bettor, the energy in Las Vegas is palpable, making it a truly unique experience.

More than 100 million people are expected to bet on March Madness brackets this year. John Blackstone reports on the …



More than 100 million people are expected to bet on March Madness brackets this year. John Blackstone reports on the …