Sports betting: How to avoid losing your shirt

March Madness, the NCAA's college basketball tournament, is closing in the next few days. Americans are expected to bet $2.72 billion by the end of the tournament, double the amount of Super Bowl bets this year, according to the American Gaming Association.  Personal finance experts and Maconomics CEO Ross Mac joins Wealth! to discuss how to avoid losing your shirt on sports betting.  Mac's top tip is simple: if you want to have fun while betting, do not bet money you can't afford to lose. "Vegas always wins," he states, meaning it's important to understand that the odds of hitting parlays go down every time you add a new leg, or another bet on the same exact ticket. "Using a ten-leg parlay, you'll have less than a 0.15% chance of winning," he explains. Focus on single bets instead, Mac says.  For more expert insight and the latest market action, click here to watch this full episode of Wealth! Editor's note: This article was written by Gabriel Roy.