Bracketology can make a sports bettor a lot of money during March Madness if they know what to look for.

In the world of online betting, March Madness is the biggest event next to Super Bowl. The difference is, the Super Bowl only lasts for day while March Madness lasts for weeks. People who bet on sports should know a few things about NCAA basketball brackets.

The first thing to do is to determine which teams are producing the most action. An underestimated team that flies under the radar by sneaking their way all the way up can win a college basketball bracket. A few years ago, Louisville made their way to the Final Four, giving sports bettors who picked them in their March Madness bracket a lot of money. Louisville beat West Virginia and Washington. Anyone who picked Gonzaga or Wake Forest in Louisville's draw lost big time. Michigan State was also a success story for March Madness bracket players that same season. The Spartans beat Kentucky in the national semifinals and Duke in the regionals.

Syracuse made a few NCAA basketball brackets golden by making it to the Final Four and winning their first national championship in 2003, beating 2 top seeded teams along the way. It's true that the top ranking teams win most of the time. However, it's important to recognize that most people are going to choose teams like UCLA, Kansas and Duke in their bracket. Although, the people who pick the teams that surprise everyone will win in the long run.

Filling out March Madness brackets has become a popular form of entertainment. Some people even refer to this art form as Bracketology, which can also be used to describe how the NCAA selection committee chooses at large bids to figure the 65 teams in the tournament. Most people who fill out an NCAA bracket know how teams are selected and seeded.

Thirty teams qualify automatically by winning their conference tournaments. The 5 Ivy League schools don't hold a conference tournament so it's the teams that win the regular season. This leaves thirty five teams that receive at large bids, most of which come from the ACC, Big East, Big Ten, Big 12, EC and Pac 10.

When comparing the teams from weaker conferences to teams from major conferences, the teams from major conferences are required to play a much more difficult schedule. For instance, Duke from the ACC have to play teams such as Maryland North Carolina, Florida, Miami and Virginia in the regular season and 2 or 3 times during the conference tournament. Although, teams such as Gonzaga will play their hardest games with non-conference teams only a few times throughout course of the regular season.

The smartest way to consider a team before you fill out your March Madness bracket is by utilizing the RPI, Percentage Index or Ratings. One perspective is to go by 50% strength of schedule, 25% opponents' strength of schedule, and 25% winning percentage. A team with a good winning percentage and a weak strength of schedule will be penalized in the RPI ratings. However, when playing those tough games, those teams might develop the courage it takes to be bracket busters, which any sports better should take into consideration.