Sweet 16 trends: Underdogs beat the odds in round of 16 betting

So you watched all the upsets on the weekend and figure that the favorites will have an easy time with these Cinderella wannabes here in the Sweet 16.

Bettors who embraced that theory lost a lot of money the past two tournaments as underdogs continued covering spreads, according to Sweet 16 betting trends analysis at OddsShark.com.

Underdogs ripped off an 11-5 ATS record in Sweet 16 action in 2011 and 2012. And with three teams seeded 12 or lower, there is plenty of big upset potential again in 2013.

Last year, the three teams seeded 10th or lower all covered the spread in the Sweet 16. None were victorious.

If you thought that No. 1 seeds were money in the bank at this stage of the bracket, you thought wrong again. The top seeds are 2-5 ATS in seven games over the past two Madnesses.

For bracket picking purposes however, higher seeds do win more in the Sweet 16. Higher seeds were 6-2 SU a year ago.

Check out some Sweet 16 trends based on the matchups, courtesy of Odds Shark.

Cardinals are 6-0 ATS (5-1 SU) past 6 Sweet 16 games
UNDER is 8-1 past 9 Oregon games as underdog

Spartans 6-2 ATS past 8 trips to Sweet 16
Duke 2-5-1 ATS past 8 trips to Sweet 16

Jayhawks 2-0 SU, 0-2 ATS recently vs Michigan
Jayhawks 11-2 ATS past 13 games overall

FGCU first ever 15 seed to play in Sweet 16
Florida 11-3 ATS past 14 tournament games

Shockers 6-1 SU past 7 games as favorite
LaSalle 6-2 ATS past 8 games overall

Ohio State 8-2 ATS past 10 games overall
Arizona 5-0 ATS past 5 tournament games

Indiana 1-5 ATS past 6 Madness games
Syracuse 0-3 ATS past 3 tournament games as underdog

No trends of note