The remainder of the time it's to a team that's about equal or better than them (shoots too well on the perimeter, athletic enough to race up and down the court, team full of lottery picks, etc.). No shame in losing to a team like that, of course, but there's always that creeping doubt about the other kind of team.

To put it another way, UVA's a great team to consistently gamble on, as long as you make sure to wager on every single one of their games. Sporadic/infrequent bets, especially any that rely on them making it to or winning the title, well, hedge accordingly. (To be fair I would never recommend gambling on VT basketball unless it was with someone else's Bitcoins or something like that.)