March Madness Betting Odds: Current Lines and How to Bet on the NCAA Tournament 2023
• Sports Betting
How to Bet on March Madness Betting Odds
March Madness betting is a milestone in college basketball betting. NCAAB is one of the most popular sports to wager on in the US, and it becomes even more popular in March. Wagering on the NCAA Men’s Division I Basketball Tournament is something that even casual fans like to do, with new bettors jumping into the action every year. That means there are always people who want to learn how to bet on March Madness odds, and quickly!
If you are one of them, you’ve come to the right place. This detailed expert guide will show you how to read betting lines and spreads for this glamorous event with any online sportsbook you care to use.
We will start by giving you the 2023 March Madness betting odds and explaining how they work. How To Bet’s team updates them constantly in real-time in order to save you precious time and win you extra money. You will also see the opening and current lines for the teams striving to win the NCAA basketball championship with an overview of the favorites. In short, you will get a deep understanding of what March Madness betting odds and March Madness betting lines mean and how to profit from it.
That done, we’ll highlight some of the best places to find all the markets you’ll ever need for wagering. Check out our list of the best March Madness betting sites and apps in the country and their most attractive offers so that you take full advantage. Our experts will also answer a slew of the most commonly asked questions. This complete guide will give you the best possible chance to make use of the crazy March Madness Odds that are soon to be coming around.
Here is a comparison between the opening and current odds to win the NCAA Tournament. It will help you see a reflection of the development of each team’s chances between April of last year and March 2023. Keep in mind that lines for winning the National Title in men’s college basketball are changing constantly. At the moment, Gonzaga is the team with the best odds to win March Madness 2023.
Opening NCAA Championship Odds
Current NCAA Championship Odds
*The current odds to win the NCAA Tournament were last updated on this page on March 10, 2023.
NCAA March Madness Odds to Reach the Final Four in 2023
*The current NCAA March Madness odds to Reach the Final Four in the 2023 NCAA Tournament are from DraftKings Sportsbook and were last updated on this page on March 10, 2023.
The Hottest Teams and Their NCAA Basketball Championship Odds
Gonzaga (+350): Losing top players like Jalen Suggs, Corey Kispert, and Joel Ayayi doesn’t seem to have derailed last season’s finalist. The duo of Chet Holmgren and Drew Timme is cooking this year and all opponents should fear the strong bite of the Bulldogs.
Arizona (+650): The Wildcats, led by first-year coach Tommy Lloyd and two-way star Azuolas Tubelis, defied their opening odds to win the NCAA Championship with some impressive displays. The wins against Michigan and Illinois were the ones that made everyone else take notice.
Kentucky (+700): Another team nicknamed the Wildcats is making headlines this season. Kentucky’s stud is definitely Oscar Tshiebwe who seems more than capable to lead Kentucky on the way to glory.
Duke (+1200): This version of the umpteenth great team of Mike Krzyzewski is ready to make some noise. Trevor Keels and Paolo Banchero are the new Blue Devils stars and Wendell Moore is a great help for the duo.
Baylor (+1200): The defending champion can produce the first title repeat since Florida in 2006-07 despite losing four of five starters from its team from last season. Scott Drew’s Bears are one of just five teams ranked in the top 15 in both adjusted offensive and defensive efficiency. Their odds to win the NCAA Championship remain tempting.
Auburn (+1200): Bruce Pearl’s Tigers found form at just the right time with Walker Kessler and Jabari Smith destroying opponents. To top it off, their top gun Allen Flanigan is back with a bang after being out for months because of an Achilles tendon surgery. The stars have aligned for Auburn and their March Madness odds seem a great deal as of today.
Kansas (+1400): The Jayhawks have four of their top five players back (Ochai Agbaji, Jalen Wilson, Christian Braun, and David McCormick), so Bill Self has good chances to clinch his first national title since 2008. Their NCAA Tournament odds deserve your attention as bettors.
Purdue (+1400): The Boilermakers are one of the best offensive teams in the US, ranking 1st in adjusted offensive efficiency at KenPom.com, but their problem is that they don’t show up at the other end of the floor this year (103rd). Matt Painter’s team still has appealing odds to win NCAA Tournament and front court stars Zach Edey and Trevion Williams can do some damage helped by guard Jaden Ivey.
March Madness Odds: Understanding The Betting Markets
Having knowledge on NCAAM odds means that you’ll be well aware of how to navigate successfully between the different betting markets that are available for the NCAA Tournament. The main markets we will look at here are the Spread, the Over/Under, the Moneyline and the Future. Later, we will also take you through the process of registering with one of the best online sportsbooks around for NCAA March Madness betting odds.
For the purposes of illustration, practical examples of various points will be given where necessary. All such examples will focus on a hypothetical matchup between a No. 4 Seed and a No. 1 Seed.
Point Spread March Madness Odds
Spread betting, or betting against the spread, is a common wager that can be made on any NCAA March Madness game. All online sportsbooks will set the point spread based on their perceived probability of a certain outcome taking place. It is then up to the bettor to make a pick.
No. 1 Seed
No. 4 Seed
NCAA March Madness Spread Example
Sportsbooks will almost always offer the same odds at -110 for all NCAA March Madness spreads. That means you would need to wager $110 to make a profit of $100 if your bet wins.
The No. 1 Seed is the favorite here. We see that because there is a (-) sign before their spread figure. In this case, 4.5 points will be deducted from their score before the sportsbook settles your bet. In other words, because they are the favorites, they will need to win by 5 points or more for your wager to win.
The No. 4 Seed are the underdogs. They get a (+) sign before their spread figure. That figure is added onto their points total before your bet is settled. If the team wins, so do you. However, because of the +4.5, your wager would also win even if they were to lose by 4 points or less.
If you’ve grasped the March Madness point spreads concept, it’s time to try your newly gained knowledge and place a bet with the online sportsbook of your choice.
March Madness Money Lines
The NCAA March Madness money lines are the easiest bets to understand because they only require you to pick the winning team. This type of wager is less common during the regular season, but it is quite popular in the NCAA Tournament due to the potential for huge upsets.
Consider the following example:
No. 1 Seed
No. 4 Seed
NCAA March Madness Money Lines Example
The No. 1 Seed is the favorite in this matchup, and so the payout is not as great if they win. Odds of -135 mean that you would need to bet $135 to make a profit of $100 if your bet succeeds.
Meanwhile, the No. 4 Seed are the underdogs at odds of +145. A $100 wager on this team would therefore give you a profit of $145 if the team wins.
The NCAA Tournament is known as March Madness for a reason, and that's because upsets occur quite frequently. Of course, this means you can find better odds at this stage of the season compared to the previous ones. Because of that, you’ll have to make sure you gamble responsibly when trying to take advantage of appealing March Madness betting lines.
March Madness Betting Odds for Over/Under
The Over/Under bet is sometimes referred to as a 'total'. This type of betting market focuses on the total number of points that will be scored in a game. It is therefore completely unnecessary for you to predict which team will win or lose.
Because it doesn't force anyone to choose a side, this wager is particularly popular and is considered one of the best March Madness bets. Let’s look at the example once again.
Over 143.5 Points
Under 143.5 Points
NCAA March Madness Over/Under Example
Here you will see that the sportsbook has set the line at 143.5 points. If you think that the total number of points scored by the two teams will be 144 or higher, you would bet Over. On the other hand, if you consider that it will be 143 or lower, you would bet Under.
Again, note that these March Madness odds in our example are the same for both outcomes. Sometimes though, they will differ. This is called ‘juice’ or ‘vig’.
Parlays for Multiplying Your March Madness Odds
The NCAA Tournament offers lots of quality parlay betting opportunities with some very enticing odds. If you don't already know what a parlay bet is, don't be alarmed, it is very simple. The basic premise is that you are stacking a few different odds into one. If they all come in, you win. The problem is that If even one doesn't come in, you lose. Parlay betting is a good way to increase your odds with outcomes that are not extremely out of the ordinary. Some sportsbooks even offer ‘same game parlays’ for bettors who concentrate their research efforts into a single matchup.
Parlays can result in some crazy wins and some heartbreaking loss stories. This is definitely a fun betting type to go with during March Madness.
March Madness Live Betting
In-play wagering is another great option for March Madness betting. It can not only make you some nice profit, but also enhance the NCAA game watching experience.
Like in most sports or sporting events, the lines can change throughout the game. Watching the spreads, money lines and totals to find the best figures can be a very fun way to follow a matchup. It isn't often that a college team will hit over 100 points in a 40 minute game, but if you think a particular school has a chance, this is a March Madness live bet that you can place.
Another popular March Madness live betting type to consider is the live props available during games. Not only are these wagers fun to make, but they can also make you a quick buck. One of our favorites here at How To Bet is betting on who will get the next basket. Basketball is a very dynamic and fast moving sport which makes for a plethora of live bets available during games.
How to Bet on March Madness Odds for Futures
Futures betting involves making predictions about events that are more long-term than the next game. There are three very common future wagers that are made during March Madness. They are:
Who will win the NCAA Championship?
Who will make it to the Final Four?
Which team will be the No. 1 Seed?
The first wager can be made well in advance of the tournament, and you can continue making these future bets all the way until the Final Four. You can check some of the current March Madness betting odds for the first two bets at the beginning of this page, if you have somehow missed them.
The Final Four bet is usually opened up after the brackets have been unveiled. A future bet on which teams will earn No. 1 Seed will open when the season begins, and close right before the brackets are announced.
March Madness Prop Bets
Prop betting was created during the Super Bowl but has very much been brought into other sports. NCAA Basketball makes no exception. Sportsbooks will offer lots of golden team/ player/ event odds for March Madness prop bets.
These can range from more wacky picks, for example 'How many dunks will be made in a game?', to more serious player props such as 'Jared Butler to get a triple-double’.
So whether you're wagering a small amount of dough on a wacky offer for fun, or going for a more serious, researched player prop, there are always some March Madness betting odds for you!
NCAA Bracket Odds for March Madness
They say that the odds of picking a perfect NCAA bracket are 1 in 9.223 quintillion, but that can’t stop you from trying, right? We have 68 teams competing in 67 games with four regions (East, South, Midwest, and West). Here are the seven rounds:
First Four: Four games
First round: 32 games
Second round: 16 games
Sweet Sixteen: Eight games
Elite Eight: Four games
Final Four: Two games
National championship: One game
As you can see, this is like one huge cosmic parlay and you’ll have to use all your luck and knowledge to be even close to succeeding. Nevertheless, looking for the NCAA bracket odds for March Madness is one of the highlights of the year for each and every fan of sports betting and college basketball. Just imagine being the one to create the perfect bracket…
How to Find Your March Madness Betting Strategy
You have to be a dedicated follower of the March Madness betting trends in order to establish your strategy and here are our short tips on how to achieve this.
Analyze the teams’ performances lately, including in their respective conference tournament.
Look at teams’ defensive proficiency – As you know, offense wins games but defense wins titles.
Bet sharp and fade the public – the average Joe will probably go for the less researched March Madness betting odds so take advantage of it.
Go back to the history class and examine various specific March Madness trends.
Check the historical ATS data for each contestant in any tournament environment.
Analyze the ATS performance of each seed in each round.
The Places for March Madness Betting
There are two main places where you can bet on March Madness. The first is through an online sportsbook, and the other is at a land-based sportsbook. Both options will offer the leading betting markets and appealing NCAA March Madness odds, but they each offer unique experiences.
Best Online Sportsbooks for March Madness Odds
Since March Madness betting is one of the most popular events to bet on, there are plenty of online sportsbooks that will offer attractive NCAA Tournament lines and odds. Here are three of the best you can turn to for ultimate online sports betting experience during this exciting sporting event.
The site launched in 2009 and quickly emerged as one of the leading Daily Fantasy Sports providers in the country. This company has transitioned into the sportsbook industry over the last few years and is definitely one of the best in the United States. Its NCAA Basketball March Madness Odds are more than competitive.
BetMGM is a company that is one of the top online gambling providers in the US. It’s not a surprise that they are one of the biggest competitors in the sports betting industry as well. Their March Madness lines are worth checking out.
Caesars is another household name amongst the top American sportsbooks on the market. The company specializes in providing terrific college basketball odds, and that includes March Madness betting lines.
March Madness Betting in Land-Based Sportsbooks
Betting on NCAA Tournament can also be done in land-based sportsbook venues. For example, Las Vegas is the sports betting capital of the world, and things ramp up when the calendar flips to March. Wagering on this super event in Sin City offers a unique experience that can’t be found online. The excitement level increases when betting from a casino or sports betting lounge with the action on a big screen and big crowds cheering all around you. There’s no doubt that with its enticing Vegas odds March Madness is another appealing occasion for visiting this magical place.
How to Setup an Account with BetMGM
This next section will guide you through the process of registering with a company that’s one of the biggest in sports betting and gambling in general – BetMGM. The process is similar with most US online sportsbooks, but we at How To Bet decided to show you the steps with this operator to give you more clarity.
Setting up a BetMGM account for your March Madness betting is very easy because they are one of the easiest to use online sportsbooks. They also have plenty of markets with new betting opportunities every day.
To register, you will need your email address and Social Security Number (SSN). This information is needed so that the sportsbook can confirm your identity and verify that you are over the legal age of 21!
This is what you will be greeted with when you open BetMGM. Select the state that you will be playing from and it will take you to the appropriate registration screen.
Registering with BetMGM
BetMGM Registration Step 1
The registration process at BetMGM sportsbook has just three simple steps. As you can see below, the first screen will ask you to enter your email address and create a password for your new account.
BetMGM Registration Step 2
In the next step, you will be asked to provide some basic details about yourself. Thes will include your name, date of birth, and last four digits of SSN. As mentioned earlier, this information will be used to confirm your identity and check that you are of legal age to place bets.
BetMGM Registration Step 3
Finally, you will be asked to provide your home address and your mobile phone number. You will also need to personally verify that you are 21 or older and that you accept the BetMGM Terms and Conditions. To do this, simply check the boxes provided.
You're All Set to Bet!
When you have set up your BetMGM Sportsbook account as just described, you'll be all set to enjoy all the NCAA March Madness betting action you could ever want. Enjoy the games and good luck with your bets!
Where are March Madness Betting Sites and Apps Legal
The states where you can make legal March Madness bets online and in-person are:
Where are March Madness Betting Sites and Apps Legal
Rules and Restrictions Surrounding NCAAB Betting
College sports betting is not like regular basketball betting. While it’s mostly unrestricted in states like Indiana, Michigan, Nevada, Pennsylvania, and West Virginia, there are many others that have strict rules. Here are they:
Colorado: Prop bets are not allowed on all college sporting events.
Illinois: You can only bet in-person on in-state college teams.
Iowa: Prop bets are not allowed on individual college athletes.
New Hampshire: You can’t bet on props for in-state college teams.
New Jersey: You’re not allowed to wager on in-state college teams nor on any college games played in the state.
Oregon: You can only bet on college sports in-person.
Rhode Island: You’re not allowed to bet on in-state college teams nor on any college games played in the state..
Tennessee: You are not allowed any live betting on college games.
Virginia: Wagering on in-state college teams is not allowed and so aren’t prop nor live betting on college sports.
Washington, DC: You are not allowed to bet on any college games played in the district.
March Madness Betting Odds FAQ
What is March Madness?
NCAA March Madness is a tournament that takes place every year, with most games being held in March. It sees 68 NCAA Division 1 basketball teams compete, and the winning team is declared the national champion for that year.
Can you bet on March Madness?
You bet you can! Sports betting is becoming legal in more and more states with each passing month.
How do you bet on March Madness?
You have to find a legal sports betting operator in your state and you have to be at least 21 years old (or 18 in some states).
Where to bet on March Madness?
There are two options available: online sportsbooks and land-based ones.
Which are the best March Madness betting sites and apps?
The best March Madness betting sites and apps are the ones that are legal in your area and offer the best betting odds and lines. BetMGM, Caesars, FanDuel, and DraftKings are just four of the best on the market, but there are plenty of others as well.
Are March Madness prop bets available?
Yes, NCAA prop wagering has become a huge part of the March Madness betting experience. Props are available for every single game of the NCAA Tournament and are also for the tournament as a whole.
Prop betting will add some excitement and intrigue to your March Madness experience.
What March Madness betting strategy should I use?
Even though this event usually plays out very differently than the regular season, you should still stick to tried and tested college basketball wagering strategies. One of the best March Madness betting strategies is to be prepared for more upsets, as the NCAA Tournament is famous for them.
When does March Madness begin?
The 2023 March Madness tournament will begin on 15 March and conclude on 4 April.
When is Selection Sunday for March Madness 2023?
Selection Sunday for March Madness 2023 is on 13 March.
How many games are in March Madness?
There are 67 games in the March Madness tournament, including the First Four.