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Just put $18 on the boys to win it all!

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I'm not a gambler, so no idea... But I'm wondering what the terms of a bet like this are. What if only 100 NCAA MBB teams play a season and then have a smaller NCAA tournament, which Iowa wins? Will they pay out for a "championship" in which some big teams did not participate?
 
Didn’t know Jeff Bezos Posted here.

On an unrelated note, most of my orders are being delivered late, Jeff. Please do what you can. Thanks.
 
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