Sportsbooks Win Big After Michigan State's Upset Loss to Middle Tennessee

As Las Vegas tends to be, it was the big winner on Friday when the No. 15-seeded Middle Tennessee State Blue Raiders upset the No. 2 seed Michigan State Spartans, 90-81.

According to David Purdum of ESPN.com, more money was placed on the Spartans to win the NCAA tournament than any other team, meaning the Vegas sportsbooks hold on to that money.

However, there were some bettors who put their faith in the Blue Raiders, and it paid off, according to Purdum. "William Hill's Nevada sportsbook took 78 money-line bets on Middle Tennessee, the largest a $265 wager that netted $5,300," Purdum wrote. "A disappointed Spartans bettor risked $150 on the money-line at -7,000 odds. The wager would have netted $2.15."

The disappointment for one bettor at William Hill was higher after they placed a $50,000 futures wager on the Spartans to win what would have netted a hefty $325,000 payday, according to Purdum.

Instead, it belongs to the sportsbook.

Michigan State was a 17-point favorite, according to Odds Shark, the second-largest spread of the day. The Spartans were not only a popular bet to win Friday, but nearly one-fourth of the people who filled out a bracket on ESPN.com picked them to win the title, per ESPN Stats and Info:

The game was just another example of how it's nearly impossible to predict what will happen in this tournament, just one day after two No. 5 seeds fell at the hands of No. 12 seeds.

If the sportsbooks want to hold on to even more of their money, they need a loss by the No. 1 seed Kansas Jayhawks, who are now the team most bettors have placed their faith in to cut down the nets, per Purdum.

Check out Bleacher Report's live-updating bracket to track your picks along the road to the Final Four.