The month is March, and that means only one thing -- it's time yet again for the NCAA basketball tournament.
Individuals often select their teams without much thought, but professional gambling houses have it down to a science, bringing in millions in the process.
So is there a method behind the madness?
Although no one can predict the outcome of a sporting event with complete accuracy, a careful analysis of statistical data can reveal tendencies that boost the bottom line.
For instance, 16th seeds are 0-52 since 1979, while 15th seeds have only a slightly better record of 3-52 in the same time period.
Thus, the smart money is on the first and second seeds in the first round.
Likewise, the 13th and 14th seeds pull upsets 25 percent of the time. So by staying with the third and fourth seeds, one would expect to pick the winner six out of every eight games.
Things get a bit trickier with the upset-ridden middle seeds.
The gambling industry overcomes this obstacle with "power rankings," or numerical weights attached to each team based on their record, strength of schedule and other factors.
Statistics have shown that teams with the higher power rankings usually prevail, regardless of their seeding by the NCAA selection committee.
But before you get too excited, remember the odds are against you -
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