We’re a few hours into the inaugural College Basketball Crown, a postseason tournament organized by Fox Sports. The early reviews? It’s giving hoops bettors a College Basketball Frown.
Shortly after Butler improved to 15–19 by beating Utah, reports emerged of sports books withholding payouts from winning bets. In many states, books pulled all Crown markets off the board. Books reportedly affected included Circa Sports, BetMGM, and DraftKings, among others. Notably, Circa Resort & Casino is the Official Hotel of the Tournament Referees. MGM Resorts International is the Official Team Host Hotel of the College Basketball Crown. DraftKings was the book of choice this morning for Fox Sports graphic designers as they encouraged college basketball fans to bet on the now-banned market.
Why were betting markets pulled? There are three prevailing theories:
1. Point-Shaving and/or Match-Fixing Concerns
We’ve seen no public evidence to support this theory, but when betting funds are frozen and markets suddenly disappear, sports fans’ minds understandably jump to the worst-case scenario. Hopefully this didn’t happen. Some Crown participants were legally obligated to play in this tournament due to contracts signed between Fox Sports and the Big East, Big Ten, and Big 12. It would be a shame for honorable players and coaches to see their seasons end with these questions hanging overhead.
2. The “NIL” Purse
One of the things that makes the College Basketball Crown unique is its introduction of a small purse for teams who reach the semifinals. While many have pointed out that even the Crown champions—the highest-paid team in the field—will only receive $23,076.92 per scholarship player (before tax), it’s worth considering how little effort is required to obtain that 23 grand. Yes, top transfers reportedly expect to receive more than one hundred times that sum in the portal this offseason. But that’s for a full 31-game season. To win the Crown, teams only need to win four games, many of which will be played against short-handed teams who managed losing records even when they still had their full roster.
3. Administrative Incompetence
Some have theorized that these games needed special regulatory approval, especially if they’re happening outside the jurisdiction of the NCAA. If that’s the case, it’s possible that Fox Sports—who struggled to fill out the tournament field, as we explain below—neglected to engage in the necessary regulatory process, instead encouraging fans to bet on games without first ensuring it would be legal for fans to do so.
Whatever the reason for the banned markets, it appears Fox Sports was caught off guard by this development. The creation of more gambling opportunities was a major selling point for the event when Fox Sports pitched it to fans. Unfortunately, this isn’t the first time things have gone awry for the Crown.
Originally, the Crown was conceived as a path for power conference schools to land a few more television dollars without risking the indignity of losing to a mid-major. This concept soured when the time came to build the inaugural 16-team field. Although Utah and Butler are no longer mid-majors, none of George Washington, Boise State, Washington State, Oregon State, and Tulane play in a league commonly known as a power conference.
Meanwhile, promotion attempts might be striking out. Attendance for the first game was limited despite the presence of Utah, whom some expected to provide a regional presence. This, despite aggressive sales pitches: One anonymous source affiliated with Washington State reported receiving upwards of ten emails last week promoting various Crown-related travel packages. This source will not be traveling to attend the tournament.
Is the College Basketball Crown driving college basketball down? Is this Cinderella’s revenge for her stepped-upon gown? The balls might be orange, but these details are brown. Will the tournament make it? Will the tournament drown?
One thing’s for certain in college basketball town. Right now, Fox Sports looks like a college basketball clown.
We’ve requested comment from Fox Sports and will be thrilled to update this story should we receive a response. We have updated the post to include Theory #3. For more College Basketball Crown insight, including thoughts on why Fox Sports started the tournament, please reference this post from earlier this month.
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