The improbable NCAA tournament run by Saint Peter's has some sportsbooks facing historic liabilities and has put New Jersey bookmakers in the unusual position of potentially having to pay out on a losing team.
The 15th-seeded Peacocks could be found as long as 10,000-1 to win the national men's basketball championship before the tournament began. They pulled off upsets over Kentucky, Murray State and Purdue, became the only team ever to win two NCAA tournament games as a double-digit underdog and are the first 15-seed to reach the Elite Eight.