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UConn AD took out insurance policy on teams advancing/winning tourney
Posted on 4/26/24 at 6:23 pm
Posted on 4/26/24 at 6:23 pm
LINK
You could say they bet on themselves in a way
quote:
The University of Connecticut paid a $2.83 million premium to insure all performance bonuses of its basketball coaches and various costs associated with winning at the highest levels, a move that covered nearly half of what the school wound up paying out this season.
As reported by Mike Anthony of the Stamford Advocate, With the women’s team reaching the Final Four and the men's team repeating as national champion, almost every possible performance incentive bonus was triggered and the total payout was $5.6 million.
You could say they bet on themselves in a way
9
Posted on 4/26/24 at 6:23 pm to Corinthians420
Smart risk management
Posted on 4/26/24 at 6:29 pm to Corinthians420
UCONN paid a $2.83 million premium and saved 2.8 million dollars.
That’s a $300k loss my brotha.
Edit: correction - I take it to mean they paid a $2.83M premium and got a $5.6M payout so they “profited” $2.8M. Still though, getting 2:1 odds on that seems too low and a silly bet.
If they didn’t do so well then they had would have had disappointments and “lost” $2.83M on top of it.
That’s a $300k loss my brotha.
Edit: correction - I take it to mean they paid a $2.83M premium and got a $5.6M payout so they “profited” $2.8M. Still though, getting 2:1 odds on that seems too low and a silly bet.
If they didn’t do so well then they had would have had disappointments and “lost” $2.83M on top of it.
This post was edited on 4/26/24 at 6:34 pm
Posted on 4/26/24 at 6:35 pm to Jon Ham
quote:
I take it to mean they paid a $2.83M premium and got a $5.6M payout so they “profited” $2.8M. Still though, getting 2:1 odds on that seems too low and a silly bet.
If they didn’t do so well then they had would have had disappointments and “lost” $2.83M on top of it.
I think the payouts scaled so the further they advanced the more they had to payout. It didn't say how much per round but I'm pretty sure they were confident in at least making it to the sweet 16
Posted on 4/26/24 at 6:41 pm to Corinthians420
Posted on 4/26/24 at 6:41 pm to Corinthians420
They gotta do what they gotta do without the benefit of football money
Posted on 4/26/24 at 7:19 pm to Corinthians420
quote:
$2.83
Posted on 4/26/24 at 7:27 pm to Corinthians420
It seems genius because they won, but how many schools paid $2 mil and lost?
Posted on 4/26/24 at 7:49 pm to Jon Ham
If someone said the sky was blue you’d have some asinine rebuttal
Posted on 4/26/24 at 8:01 pm to Jon Ham
You are not very bright
Posted on 4/26/24 at 8:10 pm to Jrv2damac
UCONN bet on their teams and called it “buying insurance.” They could have made the same play in Vegas.
Posted on 4/26/24 at 8:11 pm to Jrv2damac
quote:
If someone said the sky was blue you’d have some asinine rebuttal
The short wavelengths that scatter across the sky correspond to the colors blue and violet, making the real color of the sky a bluish purple. However, the cone cells in our eyes that detect colour aren't very sensitive to violet, so we see the sky as blue.
Posted on 4/26/24 at 8:20 pm to Jon Ham
This is woman math.
Posted on 4/26/24 at 8:47 pm to Jon Ham
You suck.
Posted on 4/27/24 at 7:07 am to Corinthians420
$2.8 mill in premium to ensure against a $5.6 mill loss? DraftKings could’ve offered them a better deal.
Posted on 4/27/24 at 7:21 am to Overbrook
quote:
DraftKings could’ve offered them a better deal.
For the men’s and women’s team to reach the final four??? I doubt that
Posted on 4/27/24 at 7:45 am to Corinthians420
quote:
You could say they bet on themselves in a way
Honestly. Other than being called insurance and being licensed as insurance, how is this much different than the school betting.
Posted on 4/27/24 at 8:10 am to BigApple
They would’ve gotten that easily. The insurance paid even money.
I believe UConn‘s men were +325 to win the national title.
I believe UConn‘s men were +325 to win the national title.
Posted on 4/27/24 at 8:26 am to Jon Ham
quote:
The short wavelengths that scatter across the sky correspond to the colors blue and violet, making the real color of the sky a bluish purple. However, the cone cells in our eyes that detect colour aren't very sensitive to violet, so we see the sky as blue.
What a stupid fk
Nice math by the way. So quick to call out and be edgy and made yourself look even more like an idiot
Posted on 4/27/24 at 8:44 am to Overbrook
quote:
They would’ve gotten that easily. The insurance paid even money.
I believe UConn‘s men were +325 to win the national title.
yeah but the insurance paid out for the women making the final 4 apparently.
I'd imagine the payouts were incremental the further they advanced
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