With March Madness getting underway, I invited Michael Konik back to my show today to talk about the keys to betting on the tournament. He knows a little bit about this, having been part of a major sports betting syndicate that made a mint off the casinos — a story he told so well in his book, “The Smart Money.”

Michael says that the early rounds are easiest, not just for filling out your office pool brackets, but also for betting on underdogs with the point spread. He added a few other tips, and talked about how, when he was part of the Brain Trust, they looked to make moves that were the opposite of public sentiment, which is too often influenced by emotion and regionalism rather than rational dissection of the teams.

Since the Stardust Casino in Vegas came down yesterday, I asked Michael for his memories of the place, and then the discussion turned towards the impact of the government cracking down on online gambling sites. You won’t find many people who know this stuff as well as Michael and are willing to talk about it.

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Previously on Harris Online…